XRP/USD Touched $0.3329 but failed to hold ground
Updated
On the intraday charts, the initial support for XRP/USD comes at $0.3350. It is created by SMA100 (30-min) and SMA50 (1-hour). Once it is cleared, the downside may be extended towards 61.8% Fibo retracement at $0.3220. This area is likely to slow down the sell-off. However, a sustainable move lower will expose psychological $0.3200 and the Sunday’s low $0.3175.
On the upside, the initial resistance is created by a confluence of SMA100 (1-hour) and SMA50 (4-hour) at $0.3280. It is followed by a psychological $0.3300 and the recent high of 0.3329.
The price slipped back into the mundane trading range of 2019 after bulls failed to maintain upside momentum. Ripple may have a hard time as banking and high-tech giants enter the market. Buy About 0.2750 level first traget 0.3300 level and final target 0.3550 Area.
On the Downside, XRP/USD break 0.2550 level then sell XRP first target 0.2400 and 0.2200 Area. Another sell position XRP touch 0.3550 level Sell XRP/USD target 0.3200 and 0.2700 level.
NEWS:
=======
** Google Play and Apple Store users will soon have access to XRP-backed payments.
** XRPayments has the ability to convert all the supported smartphones into Point-of-Sale (PoS) system.
** XRP users report on crypto ATM in New Jersey that supports XRP transactions. CryptoMedia News Desk uploaded a video where a user buy some
XRP coins with his debit card and send them to TrustWallet wallet.
** Ripple as a blockchain startup has been successful in promoting its cross-border payment solution with numerous partnership deals with such
financial heavy weights as Banco Santander, Western Union, and UAE Exchange.
On the upside, the initial resistance is created by a confluence of SMA100 (1-hour) and SMA50 (4-hour) at $0.3280. It is followed by a psychological $0.3300 and the recent high of 0.3329.
The price slipped back into the mundane trading range of 2019 after bulls failed to maintain upside momentum. Ripple may have a hard time as banking and high-tech giants enter the market. Buy About 0.2750 level first traget 0.3300 level and final target 0.3550 Area.
On the Downside, XRP/USD break 0.2550 level then sell XRP first target 0.2400 and 0.2200 Area. Another sell position XRP touch 0.3550 level Sell XRP/USD target 0.3200 and 0.2700 level.
NEWS:
=======
** Google Play and Apple Store users will soon have access to XRP-backed payments.
** XRPayments has the ability to convert all the supported smartphones into Point-of-Sale (PoS) system.
** XRP users report on crypto ATM in New Jersey that supports XRP transactions. CryptoMedia News Desk uploaded a video where a user buy some
XRP coins with his debit card and send them to TrustWallet wallet.
** Ripple as a blockchain startup has been successful in promoting its cross-border payment solution with numerous partnership deals with such
financial heavy weights as Banco Santander, Western Union, and UAE Exchange.
Note
1. Ripple’s large Japanese partner SBI Holdings is still bullish on XRP, within their latest report.2. The company believe XRP will be a leader across the cryptocurrency sector, and confident it will be widely adopted.
Further within the report, SBI argued that greater collaboration between Ripple and the blockchain platform R3 will be seen and said:
It has a high potential to become a global standard for financial operations such as international money transfers and trade finance.
Note
The world’s second largest stock exchange Nasdaq will introduce an index based on RIpple’s XRP. According to the announcement made earlier this week, the XRP Liquid Index (XRPLX) index created in partnership with the New Zealand blockchain company Brave New Coin will be launched on May,1. 1. Ripple’s large Japanese partner SBI Holdings is still bullish on XRP, within their latest report.
2. The company believe XRP will be a leader across the cryptocurrency sector, and confident it will be widely adopted.
3. Ripple's XRP price in the second half of Tuesday has taken a jump firmly into positive territory, with gains locked in of over 4%.
4. XRP/USD bulls force a breakout from a narrowing five-day range, attempts of recovery after a recent beating.
5. Heavy supply will be observed from the $0.3400-0.3500 price range, where some problems may be seen again for the bulls.
Technical Level:
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Daily SMA100 0.317
Daily SMA200 0.3587
Previous Weekly High 0.333
Previous Weekly Low 0.2827
Previous Monthly High 0.3276
Previous Monthly Low 0.287
Daily Fibonacci 38.2% 0.2959
Daily Fibonacci 61.8% 0.2985
The news served as a strong bullish catalyst for XRP. The coin jumped above $0.3000 barrier and touched $0.3175 high on Tuesday. At the time of writing, XRP/USD is changing hands at $0.3116. moving with a short-term bearish trend amid technical correction.
Note
Ripple is currently trading at $0.3047 following a 0.83% loss since Tuesday same time. The third largest crypto has a market cap of $12.7 billion and a 24-hour trading volume of $1 billion.1. XRP will be paired with the local currency, the South African Rand as well as Bitcoin (BTC).
2. Ripple is currently trading at $0.3047 following a 0.83% loss.
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