XRP is the digital asset native to the Ripple system. It is touted as being easy to use with almost free, instant transactions. Ripple is built upon distributed open source protocol, a consensus ledger and the aforementioned digital asset known as XRP.
Built for enterprise use, XRP enables real-time global payments anywhere in the world. XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments and has been increasingly adopted by banks and payment networks as settlement infrastructure technology.
XRP/USD Major Trend: Bearish
Ripple’s (XRP) price is in a downward move. The current bearish trend has broken below the previous low at $0.65. Buyers are attempting to push XRP above the previous low. XRP is likely to resume selling pressure if it faces rejection at the recent high.
The coin is still struggling to break above $0.65 high. On the upside, if buyers push XRP above $0.65 high, the selling pressure is likely to subside. XRP/USD price will rise to retest the previous highs of $1.10 and $1.60. However, if XRP faces rejection at the $0.65 high, the crypto is likely to decline to $0.33 low. Meanwhile, on May 19 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that XRP price will fall to level 1.618 Fibonacci extension or level $0.33.
