XRP, the third-largest crypto asset with a recent market value of $ 10 billion, shifts hands at $ 0.2330, compared with an intraday high of $ 0.2347. Over the past 24 hours, XRP / USD has added more than 3.5% in accordance with global progress in shifting the crypto asset market.
In a recent interview, Brad Garlinghouse, CEO of Ripple, spoke about the fast-growing financial industry.
Ripple says cryptocurrency lending is a powerful, early example of the use of digital assets in developing countries.
The San Francisco-based fintech startup released a fourth-quarter report, XRP Markets, with the latest trends and developments that showed significant growth in borrowing and lending in crypto assets over the past year. This market is currently valued at $ 5 billion.
XRP, the third-largest cryptocurrency asset, is now available on some of the largest cryptocurrency platforms, including Celsius, Genesis, SALT, and Nexo, along with Bitcoins (BTC), Ethereum (ETH), Litecoin (LTC) and other crypto assets.
According to the study, low-interest rates in fiat currencies were one of the key catalysts for growth. Researchers also noted that cryptocurrency owners are increasingly looking for ways to tap their assets.
Although concerns about the “crypto-credit bubble” have begun to arise, the growth potential of this market remains significant both this year and beyond.
Greychain agrees that a company analysis published in the field of cryptographic lending showed that the number of new loans in digital assets increased by 239% from 5462 in the first quarter of 2019 to 18 562 in the second quarter.
The industry is dominated by Genesis and Celsius, with a combined market share of 65% and the two platforms allow you to borrow and lend in XRP along with some other popular coins.
The Price of XRP / USD Fluctuates Under the Short-Term Barrier at Around $ 0.2340 Level
At the intraday level, the initial resistance is created by a horizontal line approaching the $ 0.2340 level.
Violation of the same level may give way to an upward momentum, which may intensify with the following target of $ 0.2340 (intraday high) and the level at $ 0.2400 (prior consolidation limit).
Sustainable movement above the barrier of $ 0.2400 can improve the technical picture and shift attention to the levels of $ 0.2500 and $ 0.2540 (2020 High).
Short-term support, on the other hand, is created by combining the moving average of 5 and 13 over a 4-hour time interval of $ 0.2260 level.
In the event of a breakdown, bears can be extended to the levels of $ 0.2200 and $ 0.2136, which is the lowest level of the previous week.
Supply Levels: $ 0.2300, $ 0.2200, $ 0.2130
Demand Levels: $ 0.2400, $ 0.2340, $ 0.2300.