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Coinbase Card adds XRP as an option for payment; price analysis enclosed

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From henceforth, Coinbase VISA cards will support XRP, Stellar [XLM], Basic Attention Token [BAT], 0x [ZRX], and Augur [REP]. The original few included Bitcoin, Ether, Bitcoin Cash, as well as Litecoin. This card lets one spend the currencies from wallets linked to their Coinbase account. XRP HODLers can spend their assets wisely without the need of converting back into fiat.

According to the candlestick chart connected with the XRP/USD pair on tradingview [based on data obtained from the Bitfinex Exchange], this major digital asset is being backed by sellers for now. The daily RSI [for 14 periods] sits at 37.79 which signifies that XRP has landed quite close to the oversold territory. For the past one and a half weeks, the MACD line has lingered beneath the signal line, thereby causing the crimson histogram to progress below the zero line.

In the aftermath of 9th November, the peaks tied to the Awesome Oscillator have all possessed the brown shade. This points towards the advent of bearish momentum. XRP may test the support level near $0.25078 by the end of this week; the mark of resistance lies adjacent to $0.315. In my opinion, unless fresh buyers choose to participate, XRP will sink back into a pattern depicting consolidation.

XRP is positioned at #3 to the south of Ethereum in the market. The trading volume recorded stands at approximately $1.279 billion, while the supply has 43,298,481,757 XRP coins involved as part of circulation. The total market cap of XRP amounts to $11.522 billion for now. The price sunk at a rate of 2.24% in the course of the past 24-hours; this, in turn, prompted XRP to plunge all the way down to the $0.266121 mark where it presently holds.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.