Ripple Price Analysis: A retest of $0.1600 is more likely than a move to $0.1800 in the short-run
|- Ripple announced a partnership deal with Australian University.
- XRP/USD is vulnerable to further losses in the nearest future.
XRP/USD is changing hands at $0.1725, mostly unchanged both on a day-to-day basis and since the beginning of Wednesday. The third-largest digital asset with the current market value of $7.6 billion has been locked in a tight range during recent days.
Ripple will offer blockchain legal courses in Australian University
The US-based blockchain startup Ripple has partnered with the Australian National University (ANU) to offer new blockchain-related courses within the part of the Master program. The students will learn how blockchain technology is changing the legal industry.
According to Ripple, the courses have been developed within Ripple’s Blockchain Research Initiative (UBRI). The company works with educational institutions to show the impact of distributed ledger technology in the modern world.
Ripple has already financed several educational initiatives. Thus, the “Lex Automagica” platform has received $1 million from Ripple. The platform allows eliminating a middleman and gatekeepers in various processes.
XRP/USD: Technical picture
On the intraday basis, XRP/USD is supported by an upside trend line currently at $0.1688. Once it is out of the way, the upside is likely to gain traction with the next focus on psychological $0.1600 reinforced by SMA100 4-hour. Considering the downside-looking RSI on the 4-hour chart, the sell-off may continue with the next target at $0.1300.
On the upside, we will need to see a sustainable move above $0.1800 for the recovery to gain traction towards the next resistance created by SMA200 4-hour on approach to $0.1900.
XRP/USD 4-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.