22 Jun 2018
Yesterday, the price of Ripple traded and closed at a price of $0.5360 on an intraday level. What should traders expect of the pair today? Gain insight into the following 22 June Ripple Price Technical Forecast.
22 June, GKFX – Ripple, the third largest coin by market value, is changing hands at $0.5289, off Friday's low at $0.5240. The coin is 2.8% lower than this time yesterday, and down 1.3% on the day. Ripple's market value is estimated as $20.7B, with trading volumes $205B. XRP trading is most active against BTC, trading at Bitfinex and Bitstamp.
An official from the Securities and Exchange Commission recently confirmed that Bitcoin and Ethereum aren't securities, but lack of comment about XRP, made people nervous.
Brad Garlinghouse, CEO of Ripple, company behind XRP, named three reasons why XRP is not a security, during CB Insights' Future of Fintech conference on Thursday.
"XRP is not a security for three reasons: if Ripple, the company, shuts down tomorrow, the XRP ledger will continue to operate; it's an open-source, decentralized technology; .... if you buy XRP, [you are] not buying shares of Ripple - buying XRP doesn't give you ownership of Ripple."
From the technical perspective, XRP/USD is capped by $0.5360 with all intraday MAs clustered around this level (hourly chart) Once this strong resistance is cleraed, the coin will have a chance to extend the upside towards $0.55. On the downside, clear break through $0.5250 will trigger a strong with the initial aim at $0.5020.
XRP/USD, the daily chart
This article 22 June Ripple Price Technical Forecast was provided by GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.
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