- $0.4530 resistance caps XRP/USD.
- Ripple Labs hires Kahina Van Dyke from Facebook.
XRP/USD is trading at $0.4427 to press time, consolidating losses incurred at the beginning of the week The third largest coin by market value is mostly unchanged on a daily basis, losing 1.7% since the beginning of Thursday. XRP's market value is registered at $17.4B, with the average daily trading volume of $171M.
Meanwhile, Ripple Lab announced a significant shake-up of its managerial team and hired Kahina Van Dyke for the position of Senior Vice President. Van Duke has an impressive track record with the last post of Global Director of Financial Services and Payments Partnerships at Facebook.
At the same time, Ripple’s Chief Cryptographer, David Schwartz, was promoted to the post of Chief Technology Officer (CTO).
“David and Kahina exemplify success. At every step in their careers, they have shown the type of leadership qualities and business prowess that will be instrumental as Ripple continues to grow,” said Brad Garlinghouse, CEO of Ripple in the official press release.
“This is a fantastic duo that showcases the two sides of Ripple. David is a world-renowned leader in the blockchain and digital asset world, and Kahina is a seasoned veteran in the traditional banking and financial services industries.”
Ripple's technical picture
From the technical point of view, XRP/USD is consolidating in a range limited by $0.4530 on the upside and $0.4410 on the downside. A sustainable movement in either direction will create an impulse that will define the price dynamic on the intraday level. If the support mentioned above is broken, the sell-off may be extended to $0.4240, which is the lowest level since June 29. The recovery above $0.4530 will take the coin to $0.4638 (100-SMA, 1-hour chart).
BEST BROKERS TO TRADE CRYPTO
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 securities. 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 Forex 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.