Tanya Abrosimova
Independent Analyst
- Ripple is locked in a tight range just as all other coins.
- Market shows little interest in Ripple's attempts to buy listing.
No volatility, no trading volumes, no significant price movements - these are characteristic features of cryptocurrency market during this Friday's Asian hours. While this may be the calm before the storm, the coins definitely need some fresh triggers to get out of the tight ranges. XRP has been trading sideways for about a week, as traders choose to ignore news about Ripple Network partnership deals and concentrate on general market sentiments.
The coin showed little reaction to the news that Ripple tried to buy its way to the major cryptocurrency exchanges. Actually, it seems to be a normal practice to pay for listing with the fees ranging from $1M to $3M depending on the token.
Read more about Ripple debacle here.
Ripple technical picture
XRP/USD is trading at $0.4875, off Thursday's low registered at $4743. The price has been staying below all EMAs since Wednesday, April 4, though the downside is limited by the support around $0.4750. Once it is cleared, the coin might move lower towards $0.4543 (April 1 low). On the upside, the nearest resistance is created by $0.4940 (50-EMA, hourly interval) and $0.5000, which is strengthened by 100-EMA.
XRP/USD, the hourly chart
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