XRP broke down very important support level and now is going to test next support at around $0.50.
There's a chance it could bounce from there and complete 'M' pattern, after which the door down to $0.20 - $0.25 is wide open, although it looks horrible weak on weekly chart and starting collapsing on monthly.
The main point is the monthly candle has just started and on weekly MACD it is about to go below 0, which means it is about to enter bearish environment. Therefore I assume that monthly candle will close red in 99% cases, but how low will it go we will see.
There's a chance it could bounce from there and complete 'M' pattern, after which the door down to $0.20 - $0.25 is wide open, although it looks horrible weak on weekly chart and starting collapsing on monthly.
The main point is the monthly candle has just started and on weekly MACD it is about to go below 0, which means it is about to enter bearish environment. Therefore I assume that monthly candle will close red in 99% cases, but how low will it go we will see.