Ripple price analysis: XRP/USD settles above $0.6000 as Revolut announces Ripple support

Ripple managed to recover from under $0.6000, but the upside is limited.
Coin needs to get back above 61.8% Fibo to improve technical picture.

Tanya Abrosimova Independent Analyst

Ripple is changing hands at $0.6093, off Wednesday's low at $0.5755. While the coin managed to get back above $0.6000 handle, the recovery lacks momentum. From the short-term point of view, XRP/USD have to go back above 50-SMA (hourly chart) at $0.6318 to get a chance for extended upside movement towards 61.8% Fibo of the upside movement from $0.4500 low to $0.9650 high at $0.6470 and to the ultimate bullish goal at $0.6800.

British fintech startup Revolut announced support for Ripple and Bitcoin Cash building on the cryptocurrency massive adoption. Now users of Revolut service can buy Bitcoin, Litecoin, Ethereum, Ripple and Bitcoin Cash with a commission as low as 1.5%. According to the latest statistics, there are about 100,000 cryptocurrency transactions per day. Unlike a traditional crypto exchange, you cannot send and receive digital assets outside Revolut.

XRP/USD, the daily chart

Author

Tanya Abrosimova

Independent Analyst

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