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  • XRP/USD is trading above DMA50, positive signal for bulls.
  • Ripple has enjoyed a steady flow of good news.

XRP/USD moved above $0.4600 handle to trade at $0.4628 by the time of writing. The third largest coin by market value regained some ground with the Relative Strength Index points upwards, which means that Ripple’s coin has unrealized upside potential. XRP has gained nearly 2% in the recent 24 hours.

XRP’s technical picture

XRP/USD moved above DMA50 (currently at $0.4623), which is a positive signal for buyers. If the coin manages to keep ground, then we’ll have a chance to see the price at $0.50 and, possibly, $0.51 (DMA200).  

On the downside, a sustainable move under $0.4400 will trigger more selling pressure amid speculative positioning. The longer-term support lies with SMA100 at $0.4034.  

Ripple news

Ripple’s coin (XRP) has taken the 7th place in Chinese cryptocurrency rating, published by China’s Center for Information and Industry Development. The research is focused on the scientific evaluation of global blockchain development.  

Apart from that, Ripple opened a new office in Dubai, while the Global Head of Infrastructure and Innovation at Ripple Dilip Rao company announced that RippleNet now has about 200 banks and financial institutions all over the world.  

Speaking at the Dubai Summit, Rao said that the Middle East has one of the “fastest growing marketplaces,” and Ripple was eager to expand new partnerships in the region.

XRP/USD, the daily chart