Tanya Abrosimova
Independent Analyst
- XRP stays marginally above $0.7000 handle, recovering from the sell-off registered during Asian hours.
- Ripple companies want people to know that Ripple is not XRP.
Ripple is trading in a range limited by 100 and 50-DMAs at $0.7760 and $0.6960 respectively. The coin recovered from Sunday's low registered at $0.6461, it is trading at $0.7040, dangerously close to psychological $0.7000 and the above mentioned $0.6960.
Zooming to the intraday chart, we can see that the upside is limited by the short-term sloping trendline currently at $0.7360. This level needs to be cleared before XRP can move towards the next target at $0.7680 (200-SMA, hourly chart) and further onto $0.7760 (100-DMA).
Meanwhile, Ripple has been supporting efforts to remove equal sign between Ripple and XRP.
"There is a community movement for a unique #XRP symbol. We agree! XRP is independent of Ripple. Submit your idea now," the company wrote in the official Twitter account.
Actually, Ripple is a company that runs different projects based on decentralized technologies, while XRP is a digital asset used in the XRP Ledger.
XRP/USD, the daily chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?