• Ripple reversed from resistance zone
• Likely to fall to support level 1.000
Ripple cryptocurrency recently reversed down from the combined resistance zone lying between the pivotal resistance level 1.200 (which has been reversing the price from the start of September), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward correction 2 from September. The downward reversal from this resistance zone stopped the previous short-term impulse wave (iii) – which belongs to the higher order impulse wave 3 from the middle of September.
Given the strength of the aforementioned resistance zone, worsening sentiment across the cryptocurrency markets today , Ripple cryptocurrency can be expected to fall further toward the next round support level 1.000 (which stopped the previous corrections (iv), (a) and (ii)).
