Ripple price analysis: XRP/USD down 3.6% on a daily basis despite further XRP mass adoption

  • XRP's recovery stalled.
  • Payment platform now supports Ripple's coin.

XRP is trading at $0.3390 after falling to  $0.3200 on Wednesday. The third largest coin spiked to $0.3575 on Thursday, but the upside triggered by speculative positioning proved to be unsustainable. XRP is down 3.6% on a daily basis despite mild recovery on the cryptocurrency markets.

Meanwhile, Ripple's coin has made its way to the Filipino cryptocurrency market. It is now available on the cryptocurrency payment platform with 5 million users. The platform allows users in the Philippines to pay bills directly in cryptocurrency. The news confirms XRP's progress towards mass adoption. Earlier, XRP became available for everyday spending via Wirex Visa card.

Ripple's technical picture

On the upside, the recovery is capped by SMA50 - 1hour chart, currently at $0.3420. Of this area is cleared, the recovery may be extended towards $0.3575 (Thursday's high) and $0.3749 (SMA100 - 1hour chart). On the downside, XRP is well supported by $0.3300, though, a sustainable movement lower, the sell-off mat continue towards $0.3200 and $0.3000.

XRP/USD, 1-hour chart


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price prediction: BTC/USD claws back ground above $8,500

BTC/USD has made its way above $8,500 after a short-lived dip to $8,369 on November 15. At the time of writing, BTC/USD is changing hands at $8,522, mostly unchanged both on a day-to-day basis and since the beginning of Sunday.

More Bitcoin News

Litecoin (LTC) gains $2 in a matter of hour

Litecoin (LTC), the sixth-largest digital asset, has been one of the best-performing digital assets out of top-10. LTC/USD bottomed at $57.62 and jumped to $59.60 in a matter of an hour. At the time of writing, the coin is changing hands at $59.24, with over 1.5% gains on ...

More Litecoin News

Ethereum price analysis: ETH/USD attempts a recovery above $184.00

Ethereum, now the second-largest digital asset with the current market value of $20 billion, has recovered from the recent low of $177.o5 and hit $184.33 during early Asian hours. At the time of writing, ETH/USD is changing hands at $183.77.

More Ethereum News

Dash developers announced the timeline of  Evolution platform release

On December 7, the team of Dash developers will hold a special event devoted to the Evolution update. The new version of the platform shall be deployed to the testnet Evonet in December. The event hosted by Dash Core Group will take place in ...

More Dash news


Bitcoin Weekly Forecast: In the middle of nowhere

Bitcoin has been drifting down since the beginning of the week, as the bulls have no luck with the recovery campaign launched during the previous weekend.

Read the weekly forecast