Ripple Price Analysis: XRP continued to retrace overnight, set to reach $1.20 support next?

TL;DR Breakdown Ripple price analysis is bearish for today.XRP/USD continued to decline overnight.Closest support at $1.20 Ripple price analysis indicates bearish momentum to follow over the next 24 hours as the market declined overnight and is yet to set a higher low. Therefore, we expect XRP/USD to find support at the $1.20 support later today, indicating further downside to come. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded in the green over the last 24 hours, with Bitcoin up by 0.26 percent. Meanwhile, Ethereum is up by 0.64 percent, while Ripple has seen a slight decline of 0.69 percent. Ripple price movement in the last 24 hours: Ripple continued to decline XRP/USD traded in a range of $1.24 – $1.28, indicating low volatility over the last 24 hours. Trading volume has decreased by 22.29 percent and totals $4.1 billion, while the total market cap trades around $58.73 billion, ranking the coin in 6th place overall. XRP/USD 4-hour chart: XRP set to retest $1.20 as support? On the 4-hour chart, Ripple price continues to decline as bears target the $1.20 support next. XRP/USD 4-hour chart. Source: TradingView Ripple price action has struggled to reach new highs over the past weeks. After briefly touching the $1.35 mark on the 14th of August, a strong retracement to the $1.05 support was seen. From there, XRP/USD set increasingly lower highs over the past weeks, indicating consolidation ...