XRP Price Technical Analysis

  • XRP/USD is consolidating below $8900.
  • RippleNet and XPR continue moving in parallel worlds .

XRP Price :XRP/USD is trading in a narrow range under $0.9000 resistance level amid reduced volatility on the global crypto market.

RippleNet continues to expand its presence in the emerging markets, but the reaction of the digital coin remains muted as it is not directly related to the core technological solutions of the company.

While RippleNet contributes to the emerging market payment systems development, making cross-border payments easier and less expensive, banks and financial institutions that choose Ripple products, prefer to stay away from XRP as it is too volatile and unregulated.

Lats week Ripple announced the protocol updates that will make the network more decentralized and, as a consequence more secure and protected from possible manipulations.

Ripple price  technical picture

XRP/USD found short-term support at 0.8850. Currently, the coin is trading in a narrow range around $0.8900. On the downside, a sustained move below 0.8850 will take XRP/USD towards $0.8500 (Thursday’s low) and to the major support at $0.8000.  On the upside, XRP/USD needs to climb above $0.9000 and $0.9300 to get a chance for further recovery towards the psychological $1.00 level.

XRP/USD, daily chart

XRP/USD daily chart

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