- Ripple upside hits a snag short $0.3150 amid a slightly bullish crypto market.
- 50 SMA offers immediate support; sideways trading likely to take over.
XRP/USD is rising 0.56% on Friday following the bullish wave that has swept across the market. The 1-hour chart shows Ripple sitting comfortably above the 50 SMA. The upside correction formed a high at $0.31176 before starting to reverse the trend.
Meanwhile, the price is flirting with the 61.8% Fibonacci retracement level taken between the last swing high at $0.3231 and a low at $0.2869. According to the technical levels, the upside seems to have hit a snag and Ripple likely direction of movement is to the south. The RSI, for instance, fell short of the overbought region and is gradually moving downwards. The MACD 1-hour currently horizontal slightly above the mean line suggesting sideways trading in the coming sessions.
In other news, SBI Holdings announced that 13 banks have already signed to use its XRP-powered MoneyTap App. The application allows people to send funds internationally directly in XRP and leverages on speed, low cost, and security.
More on SBI Holdings and Ripple click here.
XRP/USD 1-hour chart 
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