- XRP recovery fading away as the coin stays below $0.5600.
- Cory Johnson from Ripple speaks about the Ripple ecosystem.
Ripple, the third largest coin by market value, is changing hands at $0.5500, unchanged on daily basis and down 1.2% since the start of the day. Ripple’s market value is estimated as $21.6, with trading volumes $333M. Over 21% of all XRP transactions are processed by Bitbank in XRP/JPY combination.
Ripple’s Chief Market Strategist, Cory Johnson made several interesting comments about cryptocurrency and Ripple, speaking on the sidelines of “Yahoo Finance All Markets Summit: Crypto” on Thursday. Namely, he said that XRP is a better version of Bitcoin, Crypto 2.0.
“The creators of XRP looked at the possibilities of Bitcoin, and said ‘Wow, this could be awesome, but this could fall on its face. And so they created something that was a 2.0, a solution to a lot f the problems for Bitcoin. And they did that before they had the imagination of a use case.”
Ripple technical picture
Despite the recovery from recent lows, XRP/USD stays below $0.5600, which is 78.6% Fibo retracement level. Once it is cleared, the upside may be extended towards ultimate bullish target $0.6000. On the downside, a movement below $0.5420 (100-SMA, hourly chart) might trigger further sell-off towards recent lows at $0.5050.
XRP/USD, the daily chart
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