Ripple price analysis: XRP/USD upside losing steam, but supported above $0.60, Uphold adds full support for XRP Ledger
|- Uphold aims at making Ripple accessible to individual investors in the United States using 9 different methods.
- The moving averages are acting as dynamic resistance zones in the range between $0.65 and $0.70.
Ripple is trading below the descending trend line, but the indicators are showing signals of slow but consisted upside movement. XRP/USD is, however, down 2.27% on Friday but it is immediately supported at $0.60. The moving averages are acting as dynamic resistance zones in the range between $0.65 and $0.70.
In other news related to Ripple, Uphold has announced that it is going to offer full support to XRP Ledger. This means that the investors on Uphold can now exchange XRP with fiat then transfer it to their wallets directly. Uphold intends to make XRP easily accessible to the investors in the United States. Uphold has more than 1,500 XRP pairs and has at least 9 methods in which clients can process transactions including debit cards, credit cards and bank transfer. Uphold’s CRO, Robin O’Connell said:
“This is an important milestone for Uphold and our members. We were the first to make XRP easily available in the U.S., expanding our offering to include full connectivity to the XRP ledger was the clear next step.”
XRP/USD has tried to break above the bearish trend line but selling pressure has kept it below the 61.8% Fib retracement level with the previous swing high of $0.93 and a low $0.46. The retracement level is offering resistance just below $0.65. Ripple price is trading at $0.61 pending an upside breakout. Moreover, the RSI is pointing upwards while the Stochastic is above the 50 mark. The price could keep above the support level at $0.60 to the closing of the session today, but upside movement is seeking a fresh catalyst.
XRP/USD 4-hour chart
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