You can move the cursor with a long press on the space bar for iPhones without 3D touch.
On my new iPhone XR it's far more convenient to use, since the spacebar is not at the bottom, and scrolling down (e.g. in order to edit a message) works more reliable.
It still doesn't feel as good as 3d touch on the old thing, e.g. it sometimes doesn't go into touchpad mode when pressed directly after a word and doesn't feel as precise. But it's good enough that I don't terrible miss it.
But you have to press-and-hold, since there's no force press.