BTC_update. BTC now-9397                             Let's have a quick description of the above setup.

1) First, we have the higher low which we mentioned in previous update
2) Prices are now trading below EMA10 and we have decreasing trading volume , going lower and lower.
3) A recent rejection of prices while they tried to move and close above EMA10.
4) We are seeing long wicks pointing down.

Previously breakout of the 12k$ Horizontal Support will at least lead to the retest of the Lower Boundary of an Ascending Channel, which happened. Locally it should be a bottom as we got the majority of Longs got liquidated during the last 2 days (look chart above).

Technically it's a also a good point to retest, we are at the Support Cluster [11.650$ Horizontal Support + Lower Boundary of an Ascending Channel]. Nevertheless we have two work with a confirmed retracement.

According to the Quarter Report Ripple company increased sales of XRP token to institutional investors from $1.75 mln to $32.55 mln.

Last month XRP looks alive as price increased by 60%. And firstly reached the mark of $0.30 since since February. However we have the Sentiment company data showing the decreasing of the average daily trading volume, more than $100 mln.