Technical Observation:

XRP is currently trading with an increasing bearish momentum. Since 6th march this year, XRP has been on the lower side, I still expect further decline in value, especially while the price is below the three simple moving averages, (14,52, 152). The 152 moving average is the lead, while it contains the price below it, I remain bearish on the Virtual currency. My sole opinion is that the price should continue to plummet towards $0.2300 or even lower. On the way downwards, the key lines to look for include $0.5800, $0.5550 and $0.5300. If these lines are breached then I expect a drop to last year's low of $0.2300.

Trade Signal.

Short XRP now towards $0.2300