- XRP has recovered from the lowest level since December 2017.
- Bittrex adds XRP/USD to the list of tradable instruments.
XRP dropped to $0.3200 on Wednesday before recovering to $0.3450 by the time of writing. The third largest cryptocurrency by market value has lost over 20% since Sunday, August 5 amid global cryptocurrency decline. Moreover, XRP’s decline was exacerbated by a large selling order by one of Ripple’s largest accounts. XRP/USD is down 4.5% on a daily basis and up 3.5% since the beginning of Thursday.
Bittrex, one the most popular cryptocurrency exchange platforms with a wide range of altcoins and tokens available for trading, added more crypto/fiat pairs to the list of instruments. They will be available for trading since August 20.
“By now, you’ve probably heard that we launched US dollar (fiat) trading on our platform, using a phased approach where we’re adding more markets and customers over time. Now, it’s time to roll out the latest fiat trading update for our customers. On August 20, we’re launching US dollar (USD) markets for Ethereum Classic (ETC) and XRP,@ the company wrote in its blog post.
While the first reaction of the market was muted, traders might finally see a reason for recovery.
Ripple’s technical picture
XRP/USD found strong support around $0.3200, so as long as it stays above this level, the upside correction from a deeply oversold territory is likely with the first significant aim at $0.3500. A sustainable movement higher will allow for further recovery towards $0.3689 (SMA50 – 1hour chart). On the downside, a break below $0.3200 with bring more sellers to the market and push the price towards critical $0.3000.
XRP/USD, 1-hour chart
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