Ripple (XRP) Drops 5% On The Day And It’s Vulnerable For Bigger Decline

Ripple is declining from the $0.2900 resistance area against the US Dollar. XRP price broke $0.2700 and it could continue to correct lower towards the $0.2600 support.Ripple price started a downside correction after it failed to test $0.3000 against the US dollar.
There was a break below the $0.2800 and $0.2700 levels.
There is a key declining channel forming with resistance near $0.2735 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price could continue to move down towa