Ripple’s XRP, the sole green among a sea of red
Ripple’s XRP is pioneering the price recovery in the crypto market. XRP has become the only coin trading in green among the top 60 coins on coinmarketcap. This might be because the company fielding consecutive positive news this week. Ripple has set a new milestone with its recent announcement that it has signed more than 100 production contracts. They plan to sign up one bank to a production contract per week. Also, SBI Holdings group praised Ripple for their ‘cost-effective speed and economy’. The financial giant stated that their remittances grew over 500 billion Yen with the help of Ripple’s platform and is also seeking to further expand the remittance channel.
XRP Technical Analysis
XRP is gaining traction in the crypto market. A price recovery seems to be on the way and the prices are starting to edge above the bullish trendline. The prices have found footing at $0.37 and have broken out from the current resistance level traced at $0.28. The prices are aiming at the 100 EMA line trading at $0.3124 to gain an uptrend and continue trading in green. The MACD signifies that the prices are have almost reached the bullish trendline. XRP is facing seller pressure at $0.30 setting a new resistance level. The coin is currently trading at $0.297 and is rising against USD by 6.63%.
A recent research paper published by Niclas Englesson and Sid John Leopold showed that XRP was the most eco-friendly compared to Bitcoin, Ethereum and even Visa. The research found that 220 million XRP transactions only required an equivalent of power required to light 14 light bulbs while Visa network used up energy that could be used to power 8177 light bulbs for the same amount of transactions. Ripple has also reached the LinkedIn list of Top 50 startups and holds the seventh position on the list. XRP, along with being the greener coin, is definitely proving to be one of the fastest and reliable currencies in the crypto market.
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