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Ripple (XRPUSD) takes a hit

28 May, 2021

Yesterday it was noted here that Ripple (XRPUSD) was struggling to hold onto levels back above $1. Well, it did stick doggedly around there for a while, but as Bitcoin fell back later in the session, that undermined the leading alt coin once again and it fell back below the level. That fall has been extended further right now as it heads closer to 0.90 once more. The move is of course being led by Bitcoin. That has now dropped to session lows underneath 37k.  Meantime, Ripple is just about managing to hold above 0.90, but the immediate chart dynamic is not especially favourable right now. The fall below the 100 day moving average (now at 0.9406) is not a welcome development either. If that is extended, then it could potentially reopen another visit to test the 200 day moving average that capped the previous downside run so perfectly last week. That is in place now at 0.6739. XRPUSD is currently trading at 0.9110

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