- The XRP / USD is recovering from its recent lows, gaining more than 3.5% from the start of the day.
- Positive news supports the currency in the global collapse of the crypt.
XRP / USD is the best from the worst with just 1% of losses in the last 24 hours. This result seems a resounding victory while Ripple's peers are down from 7% to 40%. Currently, the XRP / USD is changing hands at $ 0.4939, below the recent low of $ 0.4115 on November 14th. XRP takes second place in the cryptocurrency rating with a market value of over $ 19.8 billion and an average daily trading volume of $ 1.3 billion.
The technical framework of Ripple
From a short-term point of view, XRP / USD has inserted a resistance zone created by SMA50 and SMA100 (4 hours), the short-term trend line that falls from November 7 to a peak of 0.5537 $ and the psychological one from $ 0.50. Once this obstacle has been eliminated, the recovery could be extended to Monday at $ 0.5130 and potentially to $ 0.5200
On the downside, support is $ 0.4776 (SMA200, 4 hours) and $ 0.4600. A lower sustainable move will lead to an extended sell-off to $ 0.4500 and up to the recent low of $ 0.4157 (November 14).
What is the secret ingredient of Ripple's success
In addition to the new developments in the partnership, Ripple's currency was supported by the news of Coinbase and Binance. The exchange of cryptocurrencies in the United States has launched custody services for XRP holdings – one month after an official announcement. In the meantime, Binance could add XRP as a base currency. At least, it is not out of the question for the CEO of Changpeng Zhao exchange.
XRP / USD, 4-hour chart