$XRP.X Ripple has the potential to hit bottom of lower channel

At this point it is obvious that Ripple is in a downtrend and some are recommending to buy it now but I think that would be a mistake. Based on the chart it has the potential for much more pain in the short term and could possibly test the bottom of the lower channel. In addition Ripple has broken below the 200EMA and I would consider it a no touch until the dust settles.

Based on the current decline a buy point could be around the mid 0.00011 Satoshis.

Good luck.