Ripple’s XRP is posed for long-term growth as long as it stays above $0.2300. The next resistance is created by the psychological barrier of $0.2500. Ripple’s XRP is changing hands at 0.2420. The coin has gained nearly 10% on a day-to-day basis and 4% since the beginning of the day. Due to the strong growth, XRP moved to third place in the global cryptocurrency market rating. The coin’s market capitalization exceeded $10 billion, while its average daily trading volume is now over $2 billion. Lockdown will create a stimulus for crypto adoption Barry Eichengreen, professor of economics and political science at the University of California, he admitted that that cryptocurrency asset used for cross-border payments may prove their value in the future. He expressed his views on cryptocurrencies and the economic consequences of the pandemic while speaking with Ripple’s CTO, David Schwartz. XRP/USD: Technical picture XRP/USD hit the recovery high at $0.2442 and retreated to $o.2420 by press time. The coin is grossly overbought, which means it may be vulnerable to a short-term correction. However, the RSI on a daily chart points upwards and shows no signs of reversal yet, signaling that the coin has not exhausted its bullish potential. The initial resistance is created by the intraday high. Once it is out of the way, the upside is likely to gain traction with the next focus on $0.2500. In the long run, the critical barrier is created by 100-week SMA at $0.2950 followed by a psychological $0.3000. On the downside, the initial correction target is created by the upper line of the daily Bollinger Band on approach to $0.2300. XRP/USD daily 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 USD/CHF rebounds from multi-year lows, moves closer to 0.9200 mark ahead of FOMC FX Street 3 years Ripple's XRP is posed for long-term growth as long as it stays above $0.2300. The next resistance is created by the psychological barrier of $0.2500. Ripple's XRP is changing hands at 0.2420. The coin has gained nearly 10% on a day-to-day basis and 4% since the beginning of the day. Due to the strong growth, XRP moved to third place in the global cryptocurrency market rating. The coin's market capitalization exceeded $10 billion, while its average daily trading volume is now over $2 billion. Lockdown will create a stimulus for crypto adoption Barry Eichengreen, professor of economics and political science at… 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.
