Ripple price analysis: Recovery continues but XRP/USD is still in danger of sliding below $0.70
|- Stefan Thomas, Ripple representative to speak at “WeAreDevelopers” Conference in Vienna.
- XRP/USD upside capped below $0.75, on the downside, immediate support is at $0.65.
Ripple price is the biggest gainer among the top ten cryptocurrencies by market capitalization. XRP/USD is up 4.59% Monday, although the upside movement has been capped below $0.75. The selloff in the market on Friday 11 led to a slump in Ripple price from trading above $0.80 to testing the support at $0.65 representing approximately 17% drop.
In other news related to Ripple, a representative of Ripple, Stefan Thomas is scheduled to speak at “WeAreDevelopers” conference taking place in Vienna/Austria from May 16 – May 18. The conference brings together experts in the technology world and the crypto industry including IBM, Google, Microsoft and Bosch among others. Developers across the world also get a platform to share experiences and knowledge.
At the moment, Ripple price is exchanging at $0.716, besides, the buyers are battling to find support above $0.700. XRP/USD is lacking a fresh catalyst to retrace higher with the upside capped below $0.75. The crypto is avoiding major movements, but on the downside, the immediate support is at $0.65. Further down, $0.60 will also provide support although the major support is highlighted at $0.50 on the charts.
XRP/USD 4-hour chart
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