Tanya Abrosimova
Independent Analyst
- XRP/USD is glued to $0.3600 handle.
- Skrill announcement went unnoticed so far.
XRP/USD is flirting with $0.3600, down 2.5% since this time on Sunday. The second largest coin with a market value of $14.5 is locked within the bearish trend after a series of unsuccessful attempts to clear $0.40 hurdle.
Meanwhile, the payment system Skrill added support for XRP coin to satisfy the customers' demand. While the company announced the decision at the previous week, the market reaction has been muted so far.
"We're very excited to announce #XRP has been added to the list of #cryptocurrencies you can buy and sell with Skrill. Thank you to everyone who has asked about @Ripple. It's here!"
XRP is the fifth digital asset available at Skrill along with BTC, BCH, ETH и LTC.
Ripple's technical picture
From the intraday point of view, XRP's upside is capped by a strong resistance area $0.3685-$0.3700, created by a confluence of SMA50 (4-hour), SMA100, SMA200 and SMA50 (1-hour). Once it is cleared, the coin may extend the upside towards the above-mentioned psychological $0.40.
On the downside, the support lies with the recent low at $0.3559 and by the broken trendline from November 18 high at $0.5269 (currently at $0.3520). Once below, the sell-off may be extended towards $0.33 and to the recent low of $0.3237.
XRP/USD, 4-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi
Dogwifhat perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday. However, the futures contract failed to trigger a rally for the popular meme coin.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
Ethereum cancels rally expectations as Consensys sues SEC over ETH security status
Ethereum (ETH) appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the Securities & Exchange Commission (SEC) and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask
US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?