Ripple, the cryptocurrency founded by Ripple Labs, has experienced a strong start to the month of June. XRP, at the time of writing, is up 3.55% over the past 7-days and is up a total of 30% from the low placed in late May.
The cryptocurrency is currently trading at $0.6619 and is sitting at 3rd place in terms of overall market cap with a value of $26 billion. Price action, from a long term perspective, has recently been trading within a range-bound condition but has recently shown some bullish signs to the start of the month.
Ripple was designed to allow for faster banking and can boast over 100 partners that are banks or financial institutions. Along with these partners, XRP has also gained support from the mobile app Revolut, aiding in its quest for a further mainstream appeal.
To add to the speculation, Coinbase has recently moved to Japan with the motion to increase operations. Rumours have started to grow that Coinbase could be adding Ripple as it is the highest traded currency in Japan.
All of these fundamental factors favour the bulls within the market as Ripples future potential grows as time moves on. Let us take a look at the technical side of the market below. Read more from zycrypto.com…
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