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- XRP / USD remains above $ 0.33 in market indecision.
- Guardian published a story about SWIFT inefficiencies, indirectly supporting the Ripple case.
Currently, XRP / USD is locked in a narrow range marginally above $ 0.30. The second largest coin with a market capitalization of $ 12.3 recovered from the initial Asian minimum of $ 0.2982; however, the rise stopped short of $ 0.3030 between indecision and low trading activity.
Looking technically, the currency must plan a sustainable move over the $ 0.3060 area to have a chance to recover towards $ 0.31. However, the task is rather difficult as there are numerous levels of technical resistance, including SMA50 and the upper Bollinger Band line (1 hour chart) around $ 0.3030 and SMA100 (1 hour) at $ 0.3056.
On the downside, local support comes to $ 0.3000 psychological, followed closely by the central line of the Bollinger Band (1 hour chart) and the Asian minimum to $ 0.2982. The lower boundary of the 1-hour Bollinger Band to $ 0.2960 is likely to stop the decline and trigger a short-term recovery. However, if it is canceled, the sell-off may continue towards $ 0.2900.
Meanwhile, the Guardian has suddenly supported Ripple's agenda with a story dedicated to SWIFT inefficiencies.
Marcus Treacher, Ripple's global strategic account manager, said the piece reminded us how essential it was to develop cryptographic, blockchain and digital resources like Ripple.
"A timely reminder of why our Ripple mission is so important: to build Ivo for super-fast, transparent and reliable payments around the world," he wrote in his Twitter account.
The Guardian touches on the difficulties with SWIFT transfers beyond the developed world. Payments in countries like Zambia can take days and even weeks without guarantees that will reach everyone. The stories of huge amounts that are missing are all but unusual, which supports the Ripple case that offers an instant solution based on blockchain.
XRP / USD, 1 hour chart
