Ripple Anticipates Remarkable Development in Overall Crypto Assets Industry

XRP, the third biggest crypto asset with a recent market value of $ 10 billion, shifts from hand to hand at $ 0.2330 level, compared with an intraday high of $ 0.2347 level. Over the past 24 hours, XRP / USD has added more than 3.5% in line with the worldwide advancement in crypto-asset market bias.

In the latest interview, Brad Garlinghouse, CEO of Ripple, discussed the fast-paced financial industry.

Ripple says crypto assets lending is a powerful, early example of the use of digital assets in the developing world.

The San Francisco-based fintech startup has released its fourth-quarter report, XRP Markets, with the latest trends and developments that have shown significant growth in borrowing and lending in crypto assets over last year. At present this market is estimated at $ 5 billion.

XRP, the third biggest crypto asset, is now available on some of the biggest cryptocurrency platforms, including Celsius, Genesis, SALT, and Nexo, along with Bitcoins (BTC), Ethereum (BTC), 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 holders are increasingly looking for ways to tap their assets.

Although concerns about the “crypto-credit bubble” began to arise, the growth potential of this market remains significant both this year and beyond.
Greychain agrees that the company’s analysis released on the crypto-lending industry 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 their combined market share of 65%. Both platforms allow you to borrow and lend in XRP along with some other popular coins.

XRP/USD Price Is Flirting Underneath Near Term Barrier at $0.2340 Mark

Supply Levels: $ 0.2300, $ 0.2200, $ 0.2130
Demand Levels: $ 0.2400, $ 0.2340, $ 0.2300

At the intraday level, the initial resistance is created by the horizontal line approaching the $ 0.2340. The breach of the same level will give in to the upward momentum which may gain strength with the next goal of $ 0.2340 (intraday high) and $ 0.2400 (previous consolidation boundary).

Sustainable movement past the $ 0.2400 level barrier may improve the technical picture and alter the attention towards the $ 0.2500 and $ 0.2540 levels (2020 high).

On the other hand, near term support is created by combining the moving average 5 and 13 on the 4-hour time frame on the level at $ 0.2260.

In the event of a breakdown, bears can be extended to the level of $ 0.2200 and $ 0.2136, which is the lowest level of the prior week.

 

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