Ripple’s XRP Price Analysis: XRP/USD forced to struggles to breakdown $0.3400-0.3500 range

Ripple’s XRP on Tuesday was trading up with gains of 8%, but struggles to breakdown big resistance for now.
XRP ETP has now officially been launched by major Swiss stock exchange

Ken Chigbo Independent Analyst

Ripple’s XRP on Tuesday was seen holding whopping gains of some 8% in the second half of the session. The bulls were capped somewhat however in comparison to some of its peers, as a big barrier remains from $0.3400-0.3500 price range.

In terms of news flow, Switzerland’s principal stock exchange, SIX, have now officially listed a Ripple (XRP)-based Exchange Traded Product (ETP) today – April 2, according to their official website, this is now available to its users to trade.

The company had announced plans to launch the ‘Amun Ripple’ (AXRP) back in March. The co-founder and CEO of Amun, which is the development company that specializes in derivatives, behind the AXRP, did claim this was the first such product to hit the market.

XRP/USD 4-hour chart

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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