- XRP/USD butchers the support at the 50% Fib level.
- Ripple defends $0.30 support as market sinks slightly in the red.
As discussed earlier, XRP/USD failed to sustain the triangle breakout that has been forming since mid-February as seen on the 4-hour chart. The struggle at $0.32 proved to be an uphill task and the momentum came to a sudden halt.
The bearish wave sweeping across the market at press time has seen XRP/USD butcher the support at the 50% Fib level 1-hour and the next support targets at $0.3050 and $0.3100. Ripple has tested $0.3050 but recovered slightly to the current $0.3097. It is essential that the buyers defend $0.30 support otherwise, we could see Ripple breakdown to test $0.28 and $0.26 support areas.
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