- XRP/USD stays below $0.4600, amid lack of momentum.
- Ripple’s Cory Johnson says clients have already started using XRP-powered xRapid.
XRP/USD is changing hands at $0.4583, down 2% on a day-to-day basis, but mostly unchanged since the beginning of Monday. The third largest coin with a market value of $18.1B and an average daily trading volume of $269M moves in sync with other major digital coins, amid low trading activity.
What’s going on
Meanwhile, the chief marketing strategist of Ripple Cory Johnson believes that XRP is already being mass adopted due to XRP-powered payment solution xRapid. Speaking in the interview with Cointelegraph, Mr. Johnson said that a number of Ripple’s partners in the US, in Mexico, the Philippines are already using xRapid solution and exploit the benefits of faster and cheaper cross-border transactions.
“Now, India and China have banned the use of crypto in most cases. But in Mexico and the Philippines, those are countries where there’s a lot of remittance payments going out of other countries and into Mexico and the Philippines, and there’s a lot of trade in XRP. So I think we’re going to see a lot of adoption of our products in those countries – we’re already seeing that” he explained.
XRP’s technical picture
Ripple’s cryptocurrency is rangebound in a narrow range capped by $0.4730 on the upside and $0.4500 on the downside. The initial resistance lies with SMA50, 1-hour chart, at $04643, followed by the upper border of the above-said channel. Once it is cleared, the sell-off may be extended towards $0.4800 (SMA200, 1-hour) and $0.5000.
On the downside, a sustainable movement below $0.4600 will open up the way towards $0.4427 (last week’s low) and $0.4300.
XRP/USD, 1-hour chart
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