Ripple price slides below $0.5000 level: Ripple soon to launch a new getaway, ‘eMetals’ trading on BPG group

Ripple is well known for its groundbreaking innovations and solutions in both the blockchain industry as well as the financial industry. Ripple price failed to make headway above $0.5500, while the weak support formed at $0.5250 could not hold during the declines that ensued. XRP/USD is currently exchanging hands below the previous resistance level at $0.5000.

When it comes to innovations Ripple is proving to be at the forefront. Similarly, the company is launching a new getaway referred to as ‘eMetals’ that will allow the trading of precious metals by BPG Group. The company specializes in recycling, refining and trading of metals. The announcement was made by BPG Group via a tweet on April 4. Consequently, the new getaway will give the users an opportunity to buy either physical metals or the digital gold on Ripple network all year long via BPG group. The getaway will be developed on top of Ripple consensus ledger.  

Ripple price technical picture

Ripple price sustained an upside movement started at $0.4835 to highs of $0.5504, but it lacked the momentum and reversed the trend to the downside. At the moment, Ripple price is trading below both the 50 and 100 Simple Moving Averages. The gap between the moving averages is widening to show that XRP/USD will continue to correct lower due to the growing selling pressure.  The immediate support for Ripple price is at $0.4835, while the major support remains at $0.4563.

XRP/USD intraday 30’ chart