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Ripple Price Analysis: XRP Finally Maintains an Uptrend, All Set for a Fresh Increase

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  • Ripple price finally reaches above $0.40, crosses barriers above $0.39 over a day
  • XRP has steadily maintained its price range above $0.4 since this morning

  • Tracing a bullish trend line, XRP has formed a decent support price level above $0.39
  • Ripple coin is likely to see a rise if the price range remains well above $0.40

Ripple is currently trading with bullish nature against U.S.Dollar after witnessing price turbulence for a few days. Presumably, this is due to Bitcoin’s recent price rally above $12k.

Yesterday, Ripple coin kept trading in its narrow price range near $0.39. The coin had a few price spikes above $0.40 followed by quick pullbacks. Though, since 22:12 UTC yesterday, XRP has been trading above $0.40 till now. The recent positive price move seems to have strong support near $0.39. If the Ripple coin manages to remain above $0.40, further price surges are likely to take place.

Over the last 24 hours, XRP has surged from its lowest point of $0.3934 to $0.4080 with an increase of 3.70%.

XRP/USD 1-Day Price Chart by TradingView

Ripple Price Chart
Ripple Price Chart

XRP’s current price is at $0.4058 at 04:13:03 UTC, striking an increase of 2.16% over a 24-hour time span. Here, the current price is still 3.70% lagging from its 20-days SMA of $0.4214. Though the price is steadily improving as compared to its 5-days SMA of $0.3947.

The Ripple price level above $0.39, which was a key resistance till yesterday, has turned into a major support level now. It is crucial for XRP to remain above $0.40, as, a drop below the key price level can invite bearish impact.

Technical Indicators:

The MACD chart for Ripple coin appears moderately volatile, especially in the later part. Despite the bullish sentiment, the MACD line is currently below the Signal line. Also, the RSI for the crypto-coin is just below 50, showing no extremities at the moment.

XRP may see immediate resistance at $0.4156 if the coin clears the resistance at $0.4053, also, it can see support levels at $0.3950 and $0.3885 if it sees bears coming in.

Source.cryptonewsz.

Ripple

Ripple Confirms Bank of America Is Customer That Has Been Testing XRPL-Based Product

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A Ripple’s rep has confirmed that BoA has been its customer since 2016 but only this year started testing its XRPL-based technology-

Previously, U.Today reported rumors that the Bank of America (BoA) was hiring a high-ranking executive (a Treasury Product Manager) for running a ‘Ripple project’.

Now, CoinDesk has confirmed that information, after talking to Ripple’s spokesperson.

Ripple works with Bank of America

In the summer 2019, the BoA filed a patent for a blockchain-based product titled ‘Ripple’. The community back then seemed intrigued and discussed the issue with agitation.

Now, CoinDesk reports that Ripple’s spokesperson has confirmed to them that BoA is a customer that had not been announced earlier.

“Bank of America has been part of Ripple’s Global Payment Steering Group since 2016 and we did a pilot with them.”

No more further details from Ripple were shared and the BoA provided no comment on that either.

Previously, it was only known that BoA is part of the group that advises RippleNet on certain issues to do with standards.

As mentioned above, earlier in October, BoA posted a vacancy for a team lead to run a ‘Ripple project’, and this takes the collaboration of BoA with Ripple much further than just consulting or doing a pilot.

Bank of America does not plan on using XRP yet

BoA seems to have tested Ripple’s xCurrent system, which does not use XRP which powers another Ripple product – xRapid. After a recent rebranding, many believe that xRapid now bears a different name and is titled On-Demand Liquidity.

Among other major customers of Ripple who use xCurrent are PNC, American Express and Santander.

As for xRapid and XRP, the biggest player that has integrated those recently, is the global payment network MoneyGram.

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Ripple

Ripple (XRP) Price Is Following Uptrend: BTC & ETH Continue To Struggle

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  • Ripple price started a fresh increase and it surged above $0.3000 against the US dollar.
  • The price is currently correcting higher after trading to a new monthly high near $0.3040.
  • Earlier, there was a break above a declining channel with resistance near $0.2860 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price is slowly correcting lower and it could find bids near the $0.2940 and $0.2920 levels.

Ripple price is moving nicely in a positive zone against the US Dollar and bitcoin. XRP price remains in an uptrend above $0.2900, while ETH and BTC are struggling.

Ripple Price Analysis

Yesterday, we saw a downside correction in ripple below the $0.2850 support area against the US Dollar. XRP price traded as low as $0.2783 and recently started a fresh increase. It is up more than 4% and cleared many hurdles near the $0.2900 and $0.2920 resistance levels. Moreover, there was a close above the $0.2900 level and the 100 hourly simple moving average.

During the rise, there was a break above a declining channel with resistance near $0.2860 on the hourly chart of the XRP/USD pair. The pair gained momentum above the $0.2950 and $0.3000 resistance levels. A new monthly high is formed near $0.3040 and the price is currently correcting. It is trading below the 23.6% Fib retracement level of the recent wave from the $0.2783 low to $0.3040 high.

On the downside, an immediate support is near the $0.2940 level. However, the main support is near the $0.2920 level. Additionally, the 50% Fib retracement level of the recent wave from the $0.2783 low to $0.3040 high is also near the $0.2915 level to provide support. If there are more downsides, ripple price could revisit the $0.2880 support area and the 100 hourly SMA.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 50 level.

Major Support Levels – $0.2940, $0.2920 and $0.2880.

Major Resistance Levels – $0.3000, $0.3020 and $0.3040.

Source:newsbtc

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Ripple

Ripple (XRP) Price Is Following Uptrend: BTC & ETH Continue To Struggle

Published

on

  • Ripple price started a fresh increase and it surged above $0.3000 against the US dollar.
  • The price is currently correcting higher after trading to a new monthly high near $0.3040.
  • Earlier, there was a break above a declining channel with resistance near $0.2860 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price is slowly correcting lower and it could find bids near the $0.2940 and $0.2920 levels.

Ripple price is moving nicely in a positive zone against the US Dollar and bitcoin. XRP price remains in an uptrend above $0.2900, while ETH and BTC are struggling.

Ripple Price Analysis

Yesterday, we saw a downside correction in ripple below the $0.2850 support area against the US Dollar. XRP price traded as low as $0.2783 and recently started a fresh increase. It is up more than 4% and cleared many hurdles near the $0.2900 and $0.2920 resistance levels. Moreover, there was a close above the $0.2900 level and the 100 hourly simple moving average.

During the rise, there was a break above a declining channel with resistance near $0.2860 on the hourly chart of the XRP/USD pair. The pair gained momentum above the $0.2950 and $0.3000 resistance levels. A new monthly high is formed near $0.3040 and the price is currently correcting. It is trading below the 23.6% Fib retracement level of the recent wave from the $0.2783 low to $0.3040 high.

On the downside, an immediate support is near the $0.2940 level. However, the main support is near the $0.2920 level. Additionally, the 50% Fib retracement level of the recent wave from the $0.2783 low to $0.3040 high is also near the $0.2915 level to provide support. If there are more downsides, ripple price could revisit the $0.2880 support area and the 100 hourly SMA.

On the upside, an initial resistance is near the $0.3000 and $0.3020 levels. If there is a successful close above $0.3020, the price could surge above the $0.3040 and $0.3050 levels in the near term. The next stop on the upside is near the $0.3100 level.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is showing a lot of positive signs above the $0.2920 support area. Therefore, there are high chances of a decent upward move above the $0.3000 in the coming sessions. Only a close below $0.2880 may perhaps negate the current positive bias and start a fresh decline.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is gaining strength in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 50 level.

Major Support Levels – $0.2940, $0.2920 and $0.2880.

Major Resistance Levels – $0.3000, $0.3020 and $0.3040.

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