Ripple has been losing ground rapidly. The digital asset lost nearly half of its value in less than a week amid panic caused by SEC's lawsuit. Selling pressure intensifier, after several cryptocurrency exchanges delisted or suspended XRP trading, citing concerns about Ripple's legal issues. Meanwhile Bitcoin launched a massive Santa's rally and managed to break above $28 000, however quickly retreated below $27,000 amid massive profit-taking by retail traders.
The charts of both digital assets have fallen apart in recent days. Bitcoin smashed several significant levels and hit a new all-time high at $28,296, however doward correction started and price broke below $27,000. If the current sentiment prevails, sell-off may gain traction with the next focus on $24,000. Meanwhile Ripple needs to move above $0.32 in order to mitigate the bearish pressure, which would allow for a rally towards $0.35. Until then, downward move could be extended toward $0.21 level. Source: xStation5
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