- XRP/USD traded marginally above $0.70 before it gave in to selling pressure.
- The new program connects Ripple to some of the top universities that are concentrating on blockchain research.
Ripple, like most of the digital assets, corrected higher on Saturday and Sunday. Besides, the cryptocurrency opened the trading on Monday with a bullish move breaking above $0.70. XRP/USD traded marginally above $0.70 before it gave in to selling pressure tanking through several support areas, precisely at $0.69, $0.67 as well as $0.65.
Blockchain research is gaining traction in most of the world’s top universities. Both students and faculty are striving to learn as much as possible on the technology leading to the creation of better cross-border payment systems and new robust blockchain systems. Ripple has positioned itself to be on the front line of the academic research by launching the University Blockchain Research Initiative (UBRI). The new program connects Ripple to some of the top universities and by committing $50 million in funding, it hopes to speed up the research and improve innovation in blockchain, cryptos as well as digital payments.
Technically, Ripple price has broken below the bullish trendline but managed to find support slightly above $0.64. In the short-term XRP/USD will correct higher, although the current bullish momentum is weak. The moving average gap is reducing to show that the buyers have the power to push for upside movements. The MACD is still in the negative while Ripple price is facing resistance at $0.65. A breakout is highlighted at $0.66 – $0.67, which will open the gate fo retracement towards the psychological $0.70.
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