$XRP is breaking down. On the daily chart I had identified a bullish flag which might fail at some point if this retrace continues.
Based on the Elliot wave we have peaked in an Elliot wave 1 and a wave 2 is now imminent. Targets for the wave 2 lie between $1.9818 -$1.4121.
On holding this area expect a rally in an Elliot wave 3.