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- KuCoin adds XRP to the list of tradable assets.
- XRP / USD moves within a bearish trend in sync with other currencies.
Cryptocurrency conversion KuCoin added XRP to the list of tradable assets and announced that customers would be able to trade XRP with a 99% discount on the trading fee until 10 December.
"KuCoin is extremely proud to announce yet another big project to our trading platform, XRP (XRP) is now available on KuCoin.The supported trading pairs include XRP / BTC, XRP / USDT, XRP / ETH, XRP / PAX, XRP / TUSD, XRP / USDC, XRP / KCS and XRP / NEO, "the exchange declared in an official announcement.
While market players applauded KuCoin's decision to provide support for XRP, now the second largest digital asset, the price reaction has been somewhat attenuated. XRP / USD pushed higher immediately after the announcement, but quickly resumed the downside, dragged down by the general downward sentiment on the market.
Currently, XRP / USD is trading at $ 0.3460, down 3.4% since Monday. The second largest coin with a market value of $ 14.5 is consolidating near the recent low of $ 0.3441
The technical framework of Ripple
The XRP / USD could prepare for a short-term recovery from recent lows. The test area of the coins below $ 0.3400, however, new buyers have entered to start a recovery. This development may indicate that the bears are exhausted and ready to yield to the bulls at least temporarily.
From an intraday point of view, the rise in XRP is limited by a strong resistance area starting at $ 0.3600 (SMA50, 1 hour) and reaching up to $ 0.3685 (a confluence of SMA100 and SMA 200 , 1 hour). Once eliminated, the upside can be extended to $ 0.40 psychological.
On the downside, support lies in the trendline broken from the November 18 high to $ 0.5269 (currently $ 0.3400) and the recent low to $ 0.3379. Once below, the sell-off can be extended to $ 0.33 and the recent low of $ 0.3237.
XRP / USD, 1 hour chart
