{"id":23119,"date":"2025-01-11T18:13:46","date_gmt":"2025-01-11T18:13:46","guid":{"rendered":"https:\/\/peraltafinancing.com\/altcoin\/ripple-xrp-price-holding-on-to-0-42-with-new-exchange-listing\/"},"modified":"2025-01-11T18:13:46","modified_gmt":"2025-01-11T18:13:46","slug":"ripple-xrp-price-holding-on-to-0-42-with-new-exchange-listing","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=23119","title":{"rendered":"Ripple (XRP) Price Holding On to $0.42 with New Exchange Listing"},"content":{"rendered":"


\n<\/p>\n

\n

The price of Ripple\u2019s XRP cryptocurrency token took a hard hit yesterday when it fell sharply from $0.47 to $0.40 within a matter of minutes. The collapse wasn\u2019t unique to XRP, with Bitcoin (BTC), Ethereum (ETH)<\/a> and other coins taking similar dives, wiping a total of $28 billion dollars worth off the cryptocurrency market.<\/p>\n

However, XRP seems to have stabilized and is holding its ground around the $0.42, a level that has acted as significant support ever since XRP broke through the $0.40 barrier earlier this month.<\/p>\n

EliteX crypto exchange adds Ripple (XRP) support<\/h3>\n

A new cryptocurrency exchange that opened up in April this year has announced<\/a> that it will be listing XRP as one of its initial cryptocurrency trading pairs. The company, EliteX exchange, aims to promote the listing through a giveaway of 3,000 XRP tokens to users who register and complete KYC compliance procedures on the exchange in the first week of next month (3-9 June 2019).<\/p>\n

The new cryptocurrency exchange, which is part of the Lisk ecosystem, claims to be able to process half a million orders a second. In addition to XRP, it will also be listing Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).<\/p>\n

XRP Analysis<\/h3>\n

The daily confluence detector doesn\u2019t paint a pretty picture for XRP going forward, with lots of strong resistance above and very little support below. A break below $0.42 will find weak support at $0.413 and only mildly stronger support at $0.40. In the event of an upsurge, strong resistance is piled up around the $0.43 level. Above that, XRP will likely be knocked back again at $0.48, the level it has failed to break through twice now.<\/p>\n

Some analysts<\/a> see a possibility for XRP to break upwards out of its descending bull flag pattern, with the aim to break $0.50 in mid-June. However, the pattern also suggests that the coin could go as low as $0.35 before the new rally. The MACD and majority of XRP\u2019s moving averages remain in a strong buy position, and with it\u2019s RSI neutral at a low 58.25, there is certainly a possibility for a good recovery from this dip.<\/p>\n<\/p><\/div>\n