Ripple settles in a narrow range between $0.28 and $0.29 as consolidation begins. An ascending channel is likely to remain intact in the coming sessions and could be a factor in the run-up above $0.30. Ripple’s price failed to react in tandem with Bitcoin’s surge above $10,000 in the weekend session. The attempt to rise towards $0.30 hit a high of $0.2895. A reversal that ensued following the loss of momentum dipped under the 50SMA in the 2-hour range. However, the bulls have been keen on holding the ground above $0.28 support. Ripple and MoneyGram Ripple key strategic partner MoneyGram has been expanding the use of XRP in its cross-border transfers. The international payments provider is now using Ripple’s On-Demand Liquidity (ODL) in five of its payment corridors. MoneyGram’s 10% of the total transactions from the US to Mexico (the largest corridor) is utilizing XRP and ODL. The use of XRP in cross-border transfers is set to increase immensely in the course of 2020. Ripple price analysis Ripple price continues to move upwards within the confines of an ascending channel. Although, after failing to break past $0.29, the main action has been mostly sideways trading. A recent dip to $0.2650 support saw XRP recovery immediately settling above $0.28. At the moment, the 50 SMA on the 2-hour chart is capping gains slightly above the market of $0.28053. Unless the resistance at $0.29 is broken, $0.30 will remain nothing but the light at the end of the tunnel. All technical levels including those by the RSI and the momentum indicator suggest that XRP is bound for more sideways action in the coming sessions. XRP/USD 2-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next China’s central bank injects 900 billion into market – Xinhua News Agency FX Street 2 years Ripple settles in a narrow range between $0.28 and $0.29 as consolidation begins. An ascending channel is likely to remain intact in the coming sessions and could be a factor in the run-up above $0.30. Ripple's price failed to react in tandem with Bitcoin’s surge above $10,000 in the weekend session. The attempt to rise towards $0.30 hit a high of $0.2895. A reversal that ensued following the loss of momentum dipped under the 50SMA in the 2-hour range. However, the bulls have been keen on holding the ground above $0.28 support. Ripple and MoneyGram Ripple key strategic partner MoneyGram… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
