Today I’d like to take a look at Ripple, which has recently been knocked down by IOTA in terms of market cap. Ripple is now the 5th largest cryptocurrency by market cap, trailing behind Bitcoin, Ethereum, Bitcoin Cash, and IOTA. Its market cap stands just above $9 billion as of December 5th according to coinmarketcap.com. It’s good to remind you that Ripple is both a payment network (RippleNet) and a cryptocurrency (Ripple XRP) created in 2012. RippleNet connects banks and other big institutions and allows them to transfer money and other assets through the network. All transactions are recorded on the decentralized XRP Ledger. Now let’s take a look at XRP’s price versus the USD. After it first became available on online exchanges for trading in May 2017, XRP’s price has mainly ranged between 0.28 and a median support level of 0.19. While we don’t yet have much data to conduct a thorough technical analysis, the Ichimoku cloud has kept its flat format. The cryptocurrency has yet to reach its ICO price level of 0.37, even during high volatility and breaking news. With this, we may be able to see another test of 0.19, which could be an attractive buy limit order potential for those who are interested in getting exposed to Ripple and adding XRP to their cryptocurrency wallet. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.
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