Ripple explored the lows close to $0.2950 but retrace the steps above $0.3000. Ripple needs to correct above $0.3000 in order to come out of the bear range. XRP/USD has been among the worst hit cryptocurrencies amid this week’s bearish swings. The slump on Wednesday saw it break below key support at $0.3200. Ripple had been consolidating at this level following the retracement from the April 18 high marginally below $0.3500. The bear pressure on Wednesday was mostly in correlation with Bitcoin price slump from the new 2019 high around $5,632. Ripple explored the lows close to $0.2950 but retrace the steps above $0.3000 on Thursday. However, the bullish momentum failed to correct above the 50 simple moving average (SMA) 1-hour. The seller congestion at this level couple with the investors’ reaction to the news that Bitfinex exchange covered up an estimated $850 million shortfall using one the leading stablecoins on the market Tether (USDT), led to another selloff across the market. Ripple tanked further, this time breaking yesterday’s support at $0.2950 and extended the losses below $0.2850 to form a low at $0.2827. Although there has been a correction above $0.2900, the bearish pressure on the market has capped gains at $0.2950. Besides, Ripple is trading at $0.2914. Ripple needs to correct above $0.3000 in order to come out of the bear range and embark on the much-needed retracement above the broken support at $0.3200. XRP/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/USD is waiting for the next hammer to fall Yohay Elam 4 years Ripple explored the lows close to $0.2950 but retrace the steps above $0.3000. Ripple needs to correct above $0.3000 in order to come out of the bear range. XRP/USD has been among the worst hit cryptocurrencies amid this week's bearish swings. The slump on Wednesday saw it break below key support at $0.3200. Ripple had been consolidating at this level following the retracement from the April 18 high marginally below $0.3500. The bear pressure on Wednesday was mostly in correlation with Bitcoin price slump from the new 2019 high around $5,632. Ripple explored the lows close to $0.2950 but retrace… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
