TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Ripple market update: XRP/USD now available at FTX spot markets

  • The cryptocurrency exchange FTX announced support for XRP/USD.
  • Ripple's XRP retreats back in the range after a failed attempt to settle above $0.2000.
Ripple market update: XRP/USD now available at FTX spot markets
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

XRP/USD is changing hands at $0.1985. The coin attempted a move above $0.2000 during early Asian hours but failed to hold the ground amid low trading activity. At the time of writing, XRP/USD is moving within a short-term bullish bias, mostly unchanged both on a day-to-day basis and since the beginning of Monday. 

FTX adds support for XRP/USD

The cryptocurrency derivatives exchange announced support for XRP/USD on its spot markets. Sam Bankman-Fried, the CEO and the founder of the platform commented on Twitter:

A bit overdue, but: FTX now has $XRP spot markets! $XRP can also now be used as collateral on all FTX futures.

FTX was launched in March 2019. The platform is famous for its innovative products like options and leveraged tokens, and prediction markets.

XRP/USD: Technical picture

On the intraday charts, XRP/USD is supported by 1-hour SMA50 at $0.1980. Once it is out of the way, the sell-off is likely to gain traction with the next focus on SMA100 at $0.1960. The strong short-term support is created by a psychological $0.1900, which is also the lower boundary of the recent consolidation channel.

On the upside, a sustainable move above $0.2000 is needed for the upside to gain traction with the next focus on $0.2030 and $0.2090 (daily SMA200). It is closely followed by $0.2100, which is pivotal for the long-term upside momentum.

XRP/USD 1-hour chart

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

More from Tanya Abrosimova
Share:

Editor's Picks

Cardano: Under pressure as bearish derivatives cap recovery

Cardano: Under pressure as bearish derivatives cap recovery

Cardano remains under pressure, trading lower at $0.165 on Monday after mild losses in the previous week. Weakening derivatives metrics and subdued momentum indicators suggest that ADA's upside move remains limited, keeping downside risks in focus. Derivatives data for Cardano shows bearish sentiment among traders.

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

The broader cryptocurrency market risk-off sentiment eases as the US and Iran extend the pause in missile strikes, while Oman holds peace talks. Bitcoin holds firm above $65,000 on Monday, while DeFi tokens, including Aave and Ondo, emerge as top performers over the last 24 hours.

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin, Ethereum and Ripple begin the week on a firm footing after surging over 1%, 4% and 1%, respectively, in the previous week. BTC holds above key technical resistance after recording its fourth consecutive weekly gain.

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation, the nonprofit organization behind World Network, has raised $52.5 million through a strategic sale of its WLD token as the project marks three years since its mainnet launch. The funding round was led by Pantera Capital and included participation from Bain Capital Crypto, Eightco Holdings, Selini Capital, Susquehanna Crypto and other investors.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.