XRP Had Broken a Long-Term Support Line

Looking at the 4-hour XRP-USD chart
In case that XRP breaks below the $0.31 support, then the next target could be found at the $0.2933 area or lower at the $0.278 price level.
XRP is trading around the 0.764 Fibonacci retracement level (calculated as a retracement of the last bullish move from $0.277 to $0.45).
The 0.618 – 0.764 Fibb retracement level might be a convenient spot for bulls to bet on long position entry. Hence, if XRP finds the support needed and if BTC starts rallying (which now seems unlikely), then XRP could bounce upward toward the $0.353 resistance, located at the middle part of the trading channel on the following chart.
XRP could even spike higher toward the $0.373 resistance level (but it is too early to discuss an option of recrossing to the higher side of the current trading channel)
The 4-hour RSI indicator just climbed back up from the oversold regions and is now getting support above the 30 levels. We do not see any positive diversions at the moment, neither on the 4-hour nor on the 1-hour chart, which could signal that another decline is coming up.
XRP is trading below all the EMAs which are acting as resistance levels.
Testing of lower price levels shortly before a re-bounce is likely due to lack of bullish signals and lack of volume