Ripple (XRP) Bulls Facing Uphill Task & Risk of Short Term Correction Escalates

Ripple is facing a significant resistance near the $0.2900 area against the US Dollar. XRP price could decline a few points towards $0.2700 before it could rise again.Ripple price is struggling to climb towards the main $0.3000 resistance area against the US dollar.
There were more than two rejections noted near the $0.2880-$0.2900 area.
There is a short term declining channel forming with resistance near $0.2825 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price could