Ripple price analysis: XRP/USD glued to $0.70; Brad Garlinghouse promotes Ripple's purpose of solving real-life problems
- Ripple claws back ground, sitting marginally below $0.70.
- Ripple's CEO speaks about mainstream blockchain adoption.
Ripple is rangebound on Monday, trading marginally below $0.7000. The coin touched $0.7067 on Sunday trading before the profit-taking pushed it back to current levels.
The third largest coin with market cap $27.4B has registered diminishing trading volumes ($280M for the recent 24 hours) with the activity concentrated mostly in XRP/JPY.
Brad Garlinghouse, CEO of Ripple Company, stressed that Ripple focused on solving real problems.
"Ripple has been on the frontlines of deploying #blockchain to solve real customer problems. Not hype, just results. Glad to see Deloitte's data supporting mainstream adoption," he wrote in his Twitter account commenting on Deloitte's report that disclosed that global companies are interested in embracing blockchain technologies.
Ripple's technical picture
Currently, Ripple is changing hands at $0.6997 handle, above all intraday MAs. 200-SMA (hourly chart) at $0.6929 serves as a near-term support level. Once below, the sell-off may extend to $0.6829 (50-SMA) and critical $0.66. On the upside, the key short-term resistance is created by $0.7067 (Sunday's high) followed by $0.7182 (50-DMA).
Author
Tanya Abrosimova
Independent Analyst
