Why Ripple’s 10% surge met an immediate reversal?
|- Ripple price retreats to test $0.215 support, leaving $0.23 untested.
- XRP and its pairs delisted on Bitbox exchange due to low and poor performance among other reasons.
Ripple reacted positively to the launch of a new futures contract on Binance Futures platform on December 6. The surge boosted XRP above $0.20, $0.21 and $0.22 resistance barriers. The more than 10% surge tested $0.25 but retreated below $0.22, leaving the $0.23 zone untested.
Meanwhile, XRP is trading at $0.2158 after losing 3.3% of its value on Tuesday. The existing trend is bearish with XRP testing the immediate support at $0.2150. The downtrend is reflected by the retreating RSI. However, as long as the 50 SMA on the 4-hour chart stays above the 100 SMA the bulls could be encouraged to increase their entries and push the price above $0.23.
XRP/USD 4-hour chart
LINE’s Bitbox exchange delists XRP
Traders on the exchange operated by Japan’s messaging behemoth Line will no longer buy and sell XRP. Bitbox announced on Monday that XRP alongside its pairs including XRP/BTC, XRP/USDT and XRP/ETH will not longer be supported on the platform. The announcement stated that:
We keep a constant watch on all coins that are being traded on BITBOX. If a coin does not meet our standards based on its performance, reliability, liquidity, or law and regulatory requirements, it will be delisted from our exchange. To protect your assets and interests, we provide sufficient notice before delisting.
Investors holding XRP on Bitbox have been requested to cancel all ongoing trades before January 16. Withdrawals regarding the delisted coin will be permitted by a period of one month. The exchange says that it is committed to providing users with the best currencies within the growing blockchain industry.
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