Ripple price analysis: XRP/USD sidelined at $0.9000 without fresh catalysts

Ripple is the underperformer of the cryptocurrency market.
XRP/USD is consolidating around $9000 with little news to move on.

Tanya Abrosimova Independent Analyst

Ripple is falling behind the general recovery on the cryptocurrency market. The coin has been very stable lately, consolidating in a tight range, limited by 0.8500 on the downside and 0.9550.

Ripple Network partnership news has little effect on the coin's price as they do not involve the cryptocurrency usage. The latest announcement about Fleetcoor Technologies, the worldwide payments provider, piloting Ripple’s xRapid to assist with their cross-boarder payments, halted XRP/USD decline but failed to produce the sustainable upside momentum.

Ripple price technical picture

XRP/USD is consolidating around 0.9050. The coin found support at 0.8850, though it struggles to gain upside traction. The nearest resistance comes at $0.9300. We need to get a chance for further recovery towards the psychological $1.00 level.

On the downside, the sustained move below the above said 0.8850 would take us to $0.8500 (February, 23 low).

XRP/USD, daily chart

Author

Tanya Abrosimova

Independent Analyst

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