Ripple price analysis: XRP/USD clinches to $0.68; crypto traders may be vulnerable to central banks' rate decisions

• Ripple stays within the short-term side channel.
• Crypto investors might want to watch central banks rate decisions.

On the intraday level, XRP/USD is sandwiched between 50 and 100-SMA (hourly interval). While slower moving average has crossed the faster one bottom-upwards, the upside momentum is not warranted until the price stays below $0.68-$0.70 area.

Ripple, the third largest digital coin with the market capitalization over $27B, has been living through hard times recently. XRP/USD has lost over 65% since the start of the year, though it is still 300% higher than 12 months ago. The coin fell to a fresh 2018 low at $0.5377 on March 18 and managed to recover to $0.68.

While players on global financial markets took their breath ahead of Fed, ECB, and Bank of England meetings, investors in cryptocurrencies enjoyed the independence from global monetary policy issues. These times might be over as digital assets have become more closely correlated to general financial trends. Investors in cryptos should keep an eye on FED's policy as higher interest rates will make traditional assets more attractive again, reducing the competitive benefits of "alternative investments."

Shidan Gouran, President, and COO of Global Blockchain, believe that global monetary policy will not produce a substantial effect on cryptocurrency markets, but it still has a potential to influence the price fluctuations.

"Low interest rates have made traditional investment vehicles less attractive. This is exactly what made ‘alternative’ investment methods such as Bitcoin appealing in the first place. Higher interest rates will alleviate this disadvantage for traditional forms of investment, which does stand to displace some investment in Bitcoin," he commented.

XRP/USD, the hourly chart