This looks remarkably like a bearish triangle. Lower support is around 41.7 and the high is around 44.7. If it breaks, we'd be looking at a target of 44.4-41.8: 2.6c below 41.8 - 39.2c, and appears to be going to happen within the next 12 hours.
Note I'm bullish on XRP long term, I love that they're working WITH the establishment, not trying to circumvent it like...
Looking at the daily chart, we hit resistance around the current 87c level late Feb early Mar, now we're back at that point again. Price has also hit this level from the top multiple times making it a strong support level. Now we're coming from below that level, and given the relatively low volume right now, I'm thinking we might bounce off it as resistance and...
Depending on how you see it, this could be an inverted cup and handle, or a full head and shoulders (but with a very large left shoulder!)
Based on the price action after the cup, we'd be looking at a drop to around 78c. In fact looking further back to mid December, 75c was a sticking point, so that could be closer to the mark for this next drop.
I don't know if this is even a thing! But the current price action does seem to fit very nicely in this inverted curve. If it continues down to the start of the curve, we're looking at mid 66c in 3 days time. Either way, I certainly wouldn't be placing any long trades right now until we see how low this current correction goes.
Fib retracement from recent high of 1420 to low of 761.61 shows latest price action bounced off 0.382 level.
Looks to be trading in channel as per chart.
Long tails on recent low shows bulls took charge when price dropped.
My only concern is the low volume on the green candles indicating maybe bears will overwhelm the attempt to push through the 0.5 fib...
Retraced down past the 50% fib level, now looks to be coming back up. Next resistance would be around 1180. Got close to that on 21 Jan. Wait and see if it pushes through that level this time.
Could be tough though at the moment with all coins bar ETH in a definite downtrend.
Certainly not saying you should jump in until there's confirmation, but it's interesting to see that the price has jumped back to 1.76 and .87, both line on the fib retracement from .21 up to 3.31 being that big run up starting in December.
Looking at the fib retracement from the high of 3.30 to low of .8, 1.44 seems to be the next level to pass, which it's currently testing. If it can break that, 1.80 would be the next target. I currently have a stop at 1.29 as if it breaks below that 1.30 level as I'm unsure how far back towards the .87 mark it could go.