Ripple update: XRP/USD lethargic above $0.31- Triangle breakout spotted

  • XRP/USD stepped above $0.32 and tested $0.3260 before reversing the trend.
  • Coinbase Wallet app requires that every wallet should have a minimum of 20 XRP.

XRP/USD has not managed to sustain growth above $0.32 over the past couple of weeks. The price resumed the uptrend on Wednesday. XRP stepped above $0.32 and tested $0.3260 before reversing the trend. Ripple has resumed the sideways trading above $0.31 ahead of the weekend session. According to the cryptocurrency live rates provided by FXStreet, XRP/USD is trending a subtle 0.13% on Friday while exchanging hands at $0.3137.

In other Ripple news, Coinbase exchange has started supporting XRP on its wallet app. The Coinbase Wallet app currently supports Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETH) as well as 100,000 different ERC20 tokens and ERC721 collectibles that run on Ethereum blockchain. Users of XRP will from next week store their tokens on both iOS and Android platforms of the Coinbase Wallet app. Coinbase Wallet app requires that every wallet should have a minimum of 20 XRP.

Meanwhile, Ripple is trading at the narrow end of the contracting triangle pattern. This means that we can expect a breakout in the short-term. Especially if the current bullish momentum can clear the immediate resistance both the 50 SMA and the 100 SMA 15-minutes. XRP buyers must clear the resistance at $0.32 in order to open the door for more gains towards $0.35. However, XRP/USD is still in danger of dropping to $0.30 support and even test $0.28 support.

XRP/USD 15-minutes chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Opportunity in Bitcoin for bargain hunters

First, the strong bullish move yesterday by Bitcoin, which gained more than $1,000 in 60 minutes. The movement has placed the BTC/USD pair above all major moving averages and opens the door to further rises in the absence of relevant resistance.

More Bitcoin News

Ripple’s XRP recovery from April lows marks the beginning to breakout

Ripple has dived massively from the recent highs. The breakout above both the 50 Simple Moving Average (SMA) 1-D and the 100 SMA 1-D propelled XRP past critical hurdles. For the first in 2019, the price exchanged hands above $0.5. 

More Ripple News

Litecoin market overview: LTC/USD oversold and ready to bounce

Litecoin is showing signs of exhaustion from the downtrend experienced from the beginning of July. Recovery to June highs around $146 has been impossible with the path of least resistance having an affinity to the south.

More Litecoin News

Ethereum 2.0 January 3, 2020 launch date remains unconfirmed

The Ethereum ecosystem is preparing for what is known as the biggest milestone for the network, Ethereum 2.0. The new protocol is still in the development stages and researchers have recently told the community that it is possible that there will be a delay in the launch.

More Ethereum News

Bitcoin Weekly Forecast: bulls lick wounds after major sell-off

The cryptocurrency market has lived through a dreadful week as Bitcoin(BTC), and all major altcoins crashed below several important support levels. 

Read the weekly forecast