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

Bitcoin attempts a dead cat bounce amid a descending channel

Bitcoin (BTC/USD), the most dominantly traded cryptocurrency, is seen attempting minor recoveries on the 9900 handle, having extended the recent declines to 9,850.65, in the wake of a symmetrical triangle breakdown on the hourly sticks seen on Saturday.

More Bitcoin News

Cryptocurrency market update: Bears dominate quiet Saturday trading

Bearish momentum extends on Saturday across the crypto space. Bitcoin is the top weekly loser among five dominant cryptocurrencies. Ripple (XRP/USD) extends its corrective slide from six-week tops into a third straight day today.

More Cryptocurrencies News

Litecoin price prediction: Bears eye 73.00 amid descending triangle, bearish RSI

The fifth most widely traded cryptocurrency, Litecoin, remains on the back foot so far this Saturday. Sellers take back control amid a descending triangle formation spotted on hourly sticks, with eyes on 73.00.

More Litecoin News

Monero technical analysis: Trapped in range, vulnerable while below 83.50

Monero (XMR), the 14th largest cryptocurrency with the current market capitalization of $1.26 billion, is the second-biggest loser among the top 20 widely traded cryptocurrencies. 

More Monero News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin weekly forecast: Let the altcoin season begin

All major altcoins demonstrated strong growth while Bitcoin reluctantly oscillated in a tight range and stayed vulnerable to bearish sentiments. The first digital currency spends the best part of the week hovering around $10,200 level.

Read the weekly forecast

BTC

ETH

XRP