- XRP is rangebound under $0.5000 handle.
- Yoshitaka Kitao from SBI Holdings is positive on Ripple’s coin.
XRP, the third largest coin by market value, is down 2.5% since the beginning of Thursday, changing hands at $0.4590. The digital asset with a total market value of $18B is most actively traded at against BTC, trading at Bitfinex and Bitstamp with average daily volume $200M.
Representative Director and CEO from SBI Holdings Yoshitaka Kitao believes that XRP can become a global standard and create a more efficient world. SBI Holdings is the leading financial institution in Japan, and one of the strongest blockchain believers. The company has recently partnered with Ripple company and launched their cryptocurrency exchanged powered by Ripple technology. Now it is live for a limited number of customers and offers a few coins, including XRP.
Ripple technical picture
The local resistance is created by 50-SMA (4-hour interval) at $0.4915; however, the technical picture will remain bearish as long as XRP/USD stays below $0.50. One the price is above this handle, the upside momentum is likely to get stronger and take the price to $0.56 (78.6% Fibo). On the downside, a clear move below Asian low at $0.4400 will pave the way towards critical $0.4000.
XRP/USD, the 4-hour chart
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