XRP/USD stays below $0.28 despite being one of the most popular coin among HODLers

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  • XRP stays unchanged on a daily basis amid weak recovery momentum.
  • SharesPost research shows that XRP is popular among crypto HODLers.

XRP is changing hands at $0.2758 at the time of writing. The third largest digital coin is mostly unchanged both on a daily basis and since the beginning of the day though on a longer-term timeframe it continues moving with downside bias. XRP has a market value of  $11.1B and an average daily trading volume $183M.

Meanwhile, a provider of liquidity solutions SharesPost released the results of its latest research devoted to cryptocurrency and blockchain conducted in July 2018. The company surveyed both consumers and accredited investors to evaluate the change in their views about cryptocurrencies and blockchain. The survey showed that Bitcoin, Ethereum and XRP are most popular crypto holdings, which is hardly surprising as these are three largest coins by market value.

“Both investors and consumers overwhelmingly picked Bitcoin as the top currency they own, followed by Ethereum, XRP and Litecoin. The three currencies, they said, offer the most potential for long-term success.”

However, it is noticeable that the number of respondents that expect XRP to be the most successful coin dropped 24% in January 2018 to 17% in July 2018. 

XRP’s technical picture

Looking technically, XRP/USD stays below SMA50 (1-hour chart) at $0.2808, which makes its short-term picture look bearish. If the downside momentum gains traction ahead of the European session, the price may reach $0.2731 (Asian low) and $0.2700 handle, Saturday’s low at $0.2686. On the upside, the above-said SMA50 creates the nearest resistance, followed by $0.2861 (SMA100).

XRP/USD, 1-hour chart


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