Ripple price holding ground above $0.8: Zebpay, an Indian cryptocurrency exchange adds XRP to its platform

XRP/USD shows stability above $0.8
India’s 10% cryptocurrency market contribution could shoot to 30% in March

John Isige FXStreet

Ripple price is holding its ground above $0.8. The XRP/USD currency is trading below the 100-SMA showing the short term immediate resistance level at $0.9. Ripple opened trading on Friday at $0.76 and managed to move past the $0.8 resistance level as the trading progressed on Friday morning. XRP/USD shows stability above $0.8 level following news from an Indian cryptocurrency exchange, Zebpay had added Ripple to its trading platform.

The team at Zebpay is excited to add one more cryptocurrency for its users to buy and sell. XRP/USD recorded an all-time high of $3.3 on 4th January 2018. Consequently, not long ago, the cryptocurrency exchange site had added Litecoin and Bitcoin Cash to the growing number of virtual currencies traded on the platform. The news for Ripple and Zebpay come almost a week after the Indian Finance Minister, Arum Jaitley announced that the government was going to ban all cryptocurrencies.

The addition of Ripple to Zebpay platform is set to shake the market as a recent study shows that India accounts for about 10% cryptocurrency transactions in the world. The stand, taken by the Indian government; not to accept cryptocurrencies as legal tenders but at the same time, embracing the blockchain technology has the least effect on the market.

A market analyst from London, John Wright says, “The recent budget speech in India does not change anything, apart from selling sensational news which the Indian media did. Indian exchanges are already heavily regulated and if good news breaks out in March then the current 10% of market contribution that India has can shoot up to 30%”

XRP/USD price daily chart

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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