- Ripple announced on June 4 that it is going to set aside $50 million in support of blockchain research initiatives in top institutions.
- XRP/USD will find support from the bullish trendline at $0.54.
The Austin-based University is among the 17 top universities that will benefit from Ripple’s pledge to support blockchain research in institutions. Over the next 5 years, the university blockchain research projects will receive $2 million from the digital solutions company.
Ripple announced on June 4 that it is going to set aside $50 million in support of blockchain research initiatives in top institutions. Some of the Universities to benefit from the fund include, “MIT, Princeton, University of Pennsylvania, business schools at the University of California Berkeley and the University of Texas, Fundação Getulio Vargas in Brazil, and colleges in the UK, Netherlands, Australia, India, South Korea, Cyprus, and Canada.” An Associate Professor at the McCombs School of Business at the University of Texas said:
“Not only the business school but other branches will be able to participate as well. For example, the medical school expressed interest in blockchain research,”
Ripple price technical picture
Ripple price is cornered within a contracting triangle and appears to be delaying a breakout. The intraday upside has been capped below $0.56, but if Ripple spikes out of the contracting triangle, it will test the resistance at $0.58 and with enough momentum, could even break above $0.60 before the close of the session on Friday.
On the flipside, the moving averages are supporting the price which is exchanging at $0.549. Similarly, they are showing signals of bullish movements in the near-term. Significantly, the stochastic is at 50% in addition to being in a generally upward direction. XRP/USD will find support from the bullish trendline at $0.54. However, the demand zone at $0.52 is still within reach as long as Ripple price is trading below $0.60.
XRP/USD 15-minutes chart 
Share
