Ripple price outperforms its peers today, adding 1.75% at 0.3082. After the recent rally, XRPUSD consolidates above the 0.30 mark. Ripple joined the recent rally but still remains the underperformer behind the Bitcoin and Ethereum. Ripple has gained over 169% since the March low, but is still trading below the 2020 highs, while Bitcoin and Ethereum have made fresh yearly highs the previous week.
Goldman Sachs reaffirmed the interest in the digital currencies promoting Mathew McDermott, to the role of head of digital asset markets. McDermott will create a cryptocurrencies trading desk inside Goldman Sachs and would explore the possibility of creating a digital currency backed by fiat currencies.
Bitcoin – BTCUSD keeps the bullish momentum intact, and as of writing is 0.37% at 11,813. Ethereum is 0.22% higher at 395.73. XRPUSD capitalization is at 13.82 billion while bitcoin market capitalization is at 218.28 billion. The market capitalization of the largest 100 cryptocurrencies is at 358.89 billion.
Ripple Price Analysis
Ripple price is 1.65% higher at $0.3081, as the crypto pair digest the recent highs. The volatility has dropped, and Ripple formed a symmetrical triangle the last seven trading days, which most of the times is a continuation partner.
If Ripple breaks above 0.3104 – the daily high – then the next target for bulls would be 0.3197 the top from August 4. The next resistance area stands at 0.321 the high from August 2.
Looking at lower levels, initial support stands at 0.3018 today’s low. Next support zone for XRPUSD is at 0.2905 the low from August 5. Moe bids would emerge at 0.2567 the low from August 1.
Ripple Daily Chart