Ripple price analysis: XRP/USD locked in a range; Ripple plans to invest in startups that us XRP

  • Ripple's CEO announced a new plan to maker XRP more popular.
  • XRP/USD is sidelined in a narrow range, waiting for a catalyst.

Ripple's range is getting more and more narrow. Currently, XRP/USD upside on the intraday timeframe is limited by hourly 100-SMA at $0.7950, while the lower limit is produced by $0.7600.

The third largest cryptocurrency by market capitalization cannot gain the momentum despite Ripple Net efforts to promote it as the money of the future. On Monday, Ripple CEO Brad Garlinghouse speculated on the XRP taking over Bitcoin, but markets turned a deaf ear to his comments.

Speaking to TechCrunch on the sidelines of Money2020 in Singapore, Brad Garlinghouse mentioned that the company is ready to invest in technology startups that would use XRP. 

“We, Ripple, will stay focused on solving that institutional use case, but we would certainly partner with companies that are looking to use XRP in lots of different ways” - he explained.

Ripple has already invested $25M in San Francisco-based startup Omni that offers storage and rental services for goods. More of those are to come, according to Garlinghouse

Ripple price  technical picture

On the intraday timeframe, XRP/USD she shifted to a lower range with the upper limit now at $0.7950, followed by psychological $0.80. The lower boundary comes at $0.7600 and followed by $0.7400. The coin needs to take out one of those levels to gain momentum.

XRP/USD, the hourly chart

XRP/USD, the hourly chart

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