- Ripple moves within the upside trend.
- Brad Garlinghouse claims that current payment solutions are outdated.
Ripple, the third largest coin by market value, is changing hands at $0.6792, capped by $0.6800 handle. XRP/USD has recovered from Wednesday’s low at $0.6540, continuing to move within a short-term upside trend. The digital currency is unchanged since the start of the day and 1% higher on daily basis.
Meanwhile, Ripple’s CEO Brad Garlinghouse explained the difference between Ripple’s solutions and the mainstream systems, like Apple Pay, that improves design and interface, but still, uses old-fashioned technology and infrastructure.
“Our customers are asking themselves: ‘If I want to be competitive for the next 10 years – for the next 50 – do I want to be dependent on what is effectively a horse and buggy system in a world of Teslas,” he said speaking at Money20/20 Europe.
Garlinghouse believes in the increasing role of blockchain in the digital payments industry.
Ripple technical picture
Technically, XRP/USD is continuing to move within short-term upside trend, supported by $0.6640 (100-SMA, hourly chart) and $0.6600 (short-term trend line). If it is broken, the sell-off may gain traction, pushing the price towards $0.6400 with 200-SMA (hourly chart)registered at $0.6395. This support level is followed by psychological $0.6000 and May 29 low at $0.5455. On the upside, the ultimate resistance comes at $0.70 followed by $0.7040 (Monday’s high).
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