Ripple, a firm based in San Francisco, holds the third largest cryptocurrency by market capitalization, XRP. For the last 24 hours, this coin seems to have been in the positive for 2.70%.
What is the situation with XRP
Even though there were many people predicting that XRP would end up having the same faith as other coins who go through the extremely thorough selling that happens these days, it looks like quite the contrary has happened with this particular coin. XRP has managed to break below the trend line with support at $0.3350 on the 2-hours chart of the XRP/USD set. The pair that we just mentioned has fallen and has broken the $0.3100 and $0.2900 support levels.
So what do these changes mean? It’s pretty obvious. As long as the gains continue the way they are right now, above the $0.2850, and if they will make it towards the major $0.3050, this could definitely be a return above the earlier supportive ground.
What else you need to know
There is something else that we should take a look at. A new research paper that was published by Sid John Leopold and Niclas Englesson shows how the USD is affecting the environment on the Bitcoin network, Ethereum, XRP and Visa. The purpose of this research was to gather knowledge about our daily activities that make the levels of CO2 go higher and to determine which coin is actually the eco-friendliest currency. What was found is that Ripple’s XRP is the “greenest” coin.
Based on what we know by now, it seems that XRP is the only coin that is in the green from all the top 60 coins on coinmarketcap. It looks like this cryptocurrency is giving the start to the price recovery in the cryptocurrency market.