Ripple's correction was trading in a downwards channel and was facing major support around 1.6, which if it broke 1.6 would have likely gone lower. Instead, Ripple bounced off support at 1.6 on news of a partnership with Moneygram - and heavy buying started to occur with high volume. Moreover, XABCD pattern indicates bullish bias. All coins have sold off on news of South Korea banning exchanges - which the Korean government clarified will likely not go into effect.
Note
Ripple looks as if it may break support at 1.6, which would be near term bearish.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.