Ripple Price Analysis: XRP/USD pushes above $0.20, Ripple to launch new loan platform
|- Ripple price loses steam short of $0.2 but technical picture is positively intact.
- Ripple is hiring a product director to spearhead the launch of a loan platform for RippleNet customers.
Ripple price has embarked on a mission of breaking barriers. This follows a recent dip to May lows at $0.1750. Recovery ensued with XRP stepping above $0.20, however, it was not without struggle. XRP/USD is flirting with $0.2015 amid a developing bearish momentum. An intraday high has been achieved at $0.2029. Buyers are losing steam ahead of more resistances at the 50 SMA in the 4-hour range as well as $0.21.
Ripple newly launched loan platform
Ripple as a blockchain company and the issuer of XRP tokens is bringing to the market a product-centered on capital lending. The company is also looking to hire a director of product to assist with the launch. Ripple has not revealed if the new product will use XRP, however, it will work hand in hand with the growing RippleNet pool of customers.
Ripple technical analysis
XRP/USD is facing increased volatility compared to the last couple of days when it consolidated between $0.19 and $0.20 as observed by the Bollinger Bands. Technical indicators such as the RSI and the MACD hint that buyers are still in control in spite of the minor retreat from the intraday high. If XRP sustains gains towards $0.21 by first defending the initial support at $0.20, buying interest could increase, placing the crypto in a trajectory aiming for $0.25 and $0.30 key levels.
XRP/USD 4-hour chart
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 assets. 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 Open Markets 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.