- Ripple named the second in Forbes list of the biggest fintech companies in America.
- Ripple bulls come out to defend $0.30 support as a strong bearish wave sweeps across the market.
As the bullish dust settles, Ripple is dropping fast towards the support at $0.30. The bearish action follows an impeccable rally from levels around $0.28 to highs of $0.3353 (yearly highs). Intraday charts show XRP fighting to hold in the green on the day, however, the majority of digital assets have succumbed to selling activities. Besides, it is dancing at $0.3216 amid a short term bearish momentum coupled with high volatility.
Data on CoinMarketCap shows XRP having added more than 11% to its value in the last 24 hours. Ripple’s trading volume has expanded massive this week from lows around $5 billion. XRP holds the third spot in the market with a cap of $14 billion.
Ripple makes the list of ten biggest fintech companies in the US
According to Forbes 2020 list of the biggest fintech companies in the United States has brought the limelight back to Ripple which rose to the second spot after hitting $10 billion in valuation. Ripple came second after Stripe, a software platform that allows businesses to accept online payments. Ripple boasts of over 300 institutional clients ranging from banks like Standard Chartered and Santander. Coinbase came in third with a valuation of $8.1 billion.
Ripple price confluence levels
The confluence tool clearly shows XRP having advanced higher above the key resistance zones (most of which have transformed into formidable support zones). The initial hurdle is seen at $0.3182 highlighted by the Bollinger Band 4-hour upper curve. If XRP is able to relaunch the attack on higher levels, then bulls must then prepare to deal with a higher congestion of sellers at $0.3281 and $0.3380.
On the downside, support at $0.3018 must stand out strongly, otherwise, there is a chance that XRP would dive back to the support at $0.28. Other support areas to keep in mind include $0.2985, $02952 and $0.2820.
More confluence levels
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