Ripple technical analysis: XRP/USD drops below the upward channel formation

Ripple technical analysis: XRP/USD drops below the upward channel formation

XRP/USD kept falling after dropping below the $0.30-level. The Relative Strength Index is hugging the edge of the oversold territory in the hourly chart. XRP/USD went down from $0.2905 to $0.289 so far this Friday. After dropping below the $0.30-zone and the upward channel formation this Thursday, the bears have remained in control.