Tanya Abrosimova
Independent Analyst
- XRP/USD is glued to $0.3600 handle.
- Skrill announcement went unnoticed so far.
XRP/USD is flirting with $0.3600, down 2.5% since this time on Sunday. The second largest coin with a market value of $14.5 is locked within the bearish trend after a series of unsuccessful attempts to clear $0.40 hurdle.
Meanwhile, the payment system Skrill added support for XRP coin to satisfy the customers' demand. While the company announced the decision at the previous week, the market reaction has been muted so far.
"We're very excited to announce #XRP has been added to the list of #cryptocurrencies you can buy and sell with Skrill. Thank you to everyone who has asked about @Ripple. It's here!"
XRP is the fifth digital asset available at Skrill along with BTC, BCH, ETH и LTC.
Ripple's technical picture
From the intraday point of view, XRP's upside is capped by a strong resistance area $0.3685-$0.3700, created by a confluence of SMA50 (4-hour), SMA100, SMA200 and SMA50 (1-hour). Once it is cleared, the coin may extend the upside towards the above-mentioned psychological $0.40.
On the downside, the support lies with the recent low at $0.3559 and by the broken trendline from November 18 high at $0.5269 (currently at $0.3520). Once below, the sell-off may be extended towards $0.33 and to the recent low of $0.3237.
XRP/USD, 4-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC declines as resistance emerges near all-time high
Bitcoin and Ethereum are approaching their key support levels, and a sustained close below these marks could lead to further declines.
TON set to launch synthetic Bitcoin to boost its DeFi solutions
TON revealed its plan on Thursday to launch a synthetic Bitcoin token on its blockchain, allowing users to trade, stake, and earn yield using BTC. Following the announcement, TON is down over 3%.
Maker Price Forecast: MKR could stage 40% rally
MakerDAO is up 2% on Thursday and could be set for a 40% rise in the coming weeks if it successfully maintains an extended move above the descending trendline of a falling wedge. On-chain data also supports the bullish outlook after a four-month-long decline.
USDT market cap crosses $120 billion as stablecoins continue their uptrend
The stablecoin market cap continued its uptrend in October, characterized by USDT reaching a $120 billion market cap, according to a CCData report on Thursday. This indicates that investors are preparing liquidity to fuel more demand.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.