XRPUSD (Ripple) – Week 17 – Correcting to the upside?

XRP — the native cryptocurrency of Ripple Labs' XRP Ledger — is now available on the SIX Swiss Exchange in Zurich, Switzerland's principal stock exchange and Europe's third biggest, after being delisted by cryptocurrency exchanges in the United States. High-net-worth buyers are putting more money into XRP. CoinShares, a digital asset manager, claims that the crypto asset is now the top-rising altcoin among its institutional investors in its latest Digital Assets Fund Flows Study.

If you're dining at Okra, a Japanese fusion restaurant in Hong Kong, don't bother waiting with your credit card or fiat money. While it grapples with the ill consequences of the current coronavirus pandemic, the business is now embracing Binance Coin (BNB), Binance USD (BUSD), XRP, Bitcoin (BTC), and Ethereum (ETH), according to local outlet SCMP today.

Technically, XRP made a sharp pullback from the daily top at $1,96 USD. The next move to trade is an up move that will probably be a bigger correction. Potential targets for reversal are the $1.50 area marked as resistance.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.