Ripple (XRP) is currently trading around $ .52. The market capitalization of Ripple (XRP) is currently around $ 21 billion. In the last 48 hours, it has risen all the way from $ .43 to $ .51. It has held onto those gains.
Positive developments for Ripple (XRP):
SBI Ripple Asia has also got the license from the Japanese regulator in order to operate the cryptocurrency platform. Ripple will play a central role in handling the electronic payments on this cryptocurrency based platform. That is why this is a fundamental development which is in favor of Ripple (XRP). Moreover, due to this license, Ripple (XRP) will now be able to launch its application MoneyTap which will be based on Drupal blockchain.
Where is ripple (XRP) headed from here on?
Now that Ripple (XRP) is trading above $ .50, it is in bullish territory. It can head to $ .55 as well. The movements in ripple in the last few days have been pretty safe. That is why traders are again expecting swift moment to $ .55 as well. However, it is necessary for ripple to actually trade above $ .50. As long as it is able to trade above $ .50, it can easily head higher. If it falls below $ .50, then the level of $ .50 will start acting as a resistance. In such a case, it will become very difficult for ripple (XRP) to head higher.
When you look at the high which it made on Wednesday that is $ 0.5733, that will now act as a resistance. Only when it is able to surpass that, it can head to the high which it made in the last few days that is of $ .75. That is why, if you’re thinking about trading ripple (XRP), it is important to keep all of these levels in mind.
Once it breaks of $ .50 on the lower side, it can head lowered to $ 0.479. That is why it is a good idea to keep a watch on the level of $ .50. You can place your stoploss just below that level as well.
If you’re planning on trading in ripple (XRP), these are the few factors which you should keep in mind. Only when you are able to take into account these few levels, it will actually become much easier for you to trade ripple successfully.