Ripple market update: XRP lags contracting triangle breakout

• XRP mass adoption gets a huge boost following integration with Woocommerce.
• XRP/USD stuck in a tight range as bears gain traction.

XRP/USD has remained unchanged for the second day in a row. The 4-hour chart shows Ripple sitting comfortably above the Simple Moving Averages. The bearish momentum continues to threaten the key support area at $0.31 while on the upside recovery has been cut short at the 50% Fibonacci retracement level taken between the last swing high at $0.3481 and the low at $0.2877

In other Ripple related news, XRP has achieved another major milestone in mass adoption with the latest integration with Woocommerce. The online market platform currently serves more than 3 million stores.

In the meantime, Ripple continues to delay the contracting triangle breakout. However, rising above the triangle resistance could just be what XRP/USD needs to stage the much-awaited recovery towards $0.35. On the contrary, it is vital to note that XRP supports at $0.31 and $0.30 are still in danger.

The RSI 4-hour is slowly heading south as the bears gain traction. Besides, over the last three weeks, the MACD on the same chart has not been able to make any significant recovery into the positive territory. In the short-term, expect Ripple to continue trading in a tight range between $0.31 and $0.32.

XRP/USD 4-hour chart