Ripple overview: XRP/USD now available for Coinbase users
- Coinbase extended XRP support for non-pro accounts.
- XRP/USD stays above channel support.
There has been little going on on XRP/USD charts lately. The coin attempted a bearish breakthrough on Wednesday (the low set at $0.3044) but quickly recovered above $0.3100 to trade at $0.3180 by the time of writing.
Basically, XRP/USD is back within the recent channel limited by $0.3240 on the upside and $0.3150 on the downside with a potential to return to the upper boundary in the nearest future. If this barrier is cleared, the recovery will be extended towards $0.33 and $0.34 (the recent high reached on February 25).
On the downside, a sustainable move below $0.3150 will expose $0.30, which is critical for the coin in the short-run.
Meanwhile, Coinbase announced XRP support at Coinbase.com and in the Coinbase Android and iOS apps. The coin is available for all users except for residents of the United Kingdom or the state of New York.
“Starting today, Coinbase supports XRP at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store XRP. Please note that inbound transfers and many sends require the specification of an XRP destination tag,” the exchange wrote in its blog on Thursday.
Earlier this week Coinbase added XRP support for its Pro users. The market reaction has been muted so far.
Author
Tanya Abrosimova
Independent Analyst
