Ripple’s XRP: A step higher to bring $0.4 in sight

Ripple is steadily becoming the go-to platform for digital banking solutions. The San Francisco-based company aims to become a global leader in cross-border and micropayments. Its solutions, RippleNet and xRapid are currently being used by both commercial banks and payment institutions around the world,

The companies official token, XRP has been one of the best performers in the market. Besides, XRP market capitalization increased significantly surpassing that of Ethereum. This time, Ripple has held its ground in the second position for the longest time in history.

Meanwhile, Ripple price is trading at $0.35 after breaking above the trendline resistance at $0.349. The asset could not hold ground during the declines in November 2018. Moreover, fresh declines opened the trading on Monday this week with Ripple breaking below $0.35 to form lows of $0.33.

A bounce from the lows has occurred above the above mentioned trendline resistance. XRP/USD is currently trading between the moving average support and resistance with the 100 SMA offering support at $0.3526 while the longer term 200 SMA hindering bullish movement at $0.3594. In addition, more resistance will be encountered at the 50% Fib retracement between the highs of $0.37 and the lows of $0.3377.

Technical indicators are positive at the time of writing with the MACD maintaining position in the positive territory and the RSI sitting tight at the 50 percent mark. If XRP can move a step higher, preferably above the supply zone at $0.3750, $0.4 will come into sight. This move will encourage buyers to increase their entries for gains towards $0.5.

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