This event has happened simultaneously when the amount of active addresses is receding.
Binance’s hack has impacted the crypto market and while almost all coins have suffered XRP has gone down by zero point seven percent (0.76%). The new ripple partnership announcement was in the spotlight but now the hype has died down a little as a consequence.
This leads us to believe that XRP’s adoption rate is not as fast as everyone perceived it to be. The analysis of Ripple barely change. Right now XRP is in a very stable spot for this month. XRP experimented with the lower boundary but reverted to the midline of the lateral range.
This is expected to happen around the time it breaks the resistance levels near the zero point three dollars ($0.31) range.
If we look at the 30-minute chart, it is obvious that XRP is having a hard time ascending the levels above zero point three dollars ($0.30).
Despite this slow development it is mandatory to mention its remarkable stability even after the Binance hack.
By looking at the technical indicators, we can tell that the moving average convergence divergence is established near an upwards trend.
This type of reading indicates a market of increased momentum. If nothing major happens this week XRP can hit $0.3050 by Sunday hopefully.