During mid-April, the crypto market witnessed a significant sell-off as the pioneer cryptocurrency Bitcoin also failed to sustain above the $30000 psychological level. Amid the increasing selling pressure, a majority of major cryptocurrencies witnessed a temporary correction in their ongoing bullish trend offering a suitable pullback opportunity to market participants. Interested traders may grab this opportunity to accumulate their favorite cryptocurrencies at discounted prices.
Xrp(XRP)
Source- Tradingview
Amid the recent correction, the XRP price plunged to local support of $0.44, which is aligned with the 50% Fibonacci retracement level. A retracement up to this FIB level is considered healthy for the sustained bull run and encourages the market buyers to prolong a bullish rally
By the press time, the XRP price trades at $0.47 and tries to sustain above the $0.44 support.
Conversely, the daily chart shows a downsloping trendline currently carrying the ongoing correction phase. Th
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