- XRP/USD is locked in a tight range above $0.1600.
- Ripple joined the charitable efforts and moves to remote-only mode.
Ripple's XRP is hovering marginally above $0.1600, mostly unchanged since the beginning of the day. The coin has been locked in a tight range recently as the market ground to a halt after sharp movements. Ripple's market value is registered at $7 billion, while its average daily trading volume exceeded $2 billion.
Ripple donates $200 000 to fight COVID-19
A San-Francisco-based blockchain startup announced the decision to donate $200,000 to non-profit organizations Tipping Point Community and the Silicon Valley Community Foundation.
In these challenging times, Ripple is committed to being part of the global response to the COVID-19 pandemic. We’re starting in our own backyard with $100K donations each to @tippingpoint's COVID emergency response fund and @siliconvalleycf’s COVID Regional Response Fund. (1/2).
The company joined a long list of industry players that make contributions in fighting the deadly virus that took lives of over 20,000 people around the globe. The pandemic forced many companies to move to remote working, and Ripple is no exception here. Lead Developer at Ripple Nik Bougalis said that he had been working remotely for over 20 years and offered help for those who struggled to organize their remote work.
XRP/USD: Technical picture
XRP/USD has barely moved in recent three days as the market struggles to find direction in the highly uncertain environment. XRP bottomed out at $0.1129 on March 13 and managed to gain over 40% since that low; however, the further recovery is limited by the (middle line of the daily Bollinger Band) currently at $0.1690. This barrier is closely followed by psychological $0.1700, which means XRP bulls may have a hard time moving through this resistance area. A sustainable growth higher will trigger the upside move towards psychological $0.20 that served as a support at the beginning of the month. The next strong resistance is created by a confluence of SMA100 1-day and the upper line of the daily Bollinger Band at $0.2230.
On the downside, a move below $0.1600 will open up the way to the next bearish target at $0.1500 and bring $0.1450 back into focus. This line served as support on several occasions during the recent week. If it is broken, $0.1400 (March 18 low) and $0.1283 (March 16 low) will come into focus.
XRP/USD 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
Prisma price tanks 25% after nearly $9 million exploit
Prisma Finance (PRISMA) is being exploited, and the attacker has so far pulled $9 million in Ethereum from the borrowing protocol. Prisma asked vault owners to take the necessary steps to protect funds from the ongoing attack in an official tweet on X.
Meme coins gain traction after SEC’s partial win in Coinbase lawsuit: DOGE, SHIB, BRETT, POPCAT, BODEN
US SEC pocketed a partial win in its lawsuit against Coinbase, ushering a correction in crypto prices on Thursday. Despite the broad pullback, prices of meme coins like Dogecoin, Shiba Inu and Solana-based BRETT, POPCAT and BODEN increased.
Ondo moves $95 million worth of OUSG assets to BUIDL as tokenized fund attracts $245 million since debut
Ondo Finance (ONDO) announced on Wednesday that it's shifting about $95 million worth of its OUSG's underlying assets to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
XRP price stuck below $0.65 resistance, Ripple lawsuit could suffer from Coinbase defeat
XRP price falls slightly to $0.61 on Thursday after its landmark programmatic sales ruling in July, which gave Ripple a partial victory against the US SEC, failed to reverberate in a similar legal battle between the regulator and crypto exchange Coinbase.
Bitcoin: BTC may have recovered, but is it out of the woods?
Bitcoin’s (BTC) upward momentum has shown a significant decline for the past two weeks or so. This development led to a bearish signal on the weekly and an uncertain outlook on the monthly.