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Ripple XRP Ledger enters the Japanese market through key partnership, XRP sustains above $0.50

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Ripple (XRP) sustained above $0.50, a key support level, on Wednesday.

Ripple announced its partnership with Tokyo-based Hashkey DX to bring XRP Ledger to Japan. XRP holders digest the news of Ripple’s foray into Japan, and SEC response from April 29. XRP hovers around key support at $0.50, early on Wednesday. Ripple sustained above $0.50, a key support level, on Wednesday. XRP price is down nearly 6% in the past ten days. The altcoin is in a confirmed downward trend, and wiped out all gains since February.

RSI is on a downward trend alongside the price, which confirms the decline. The Moving Average Convergence Divergence indicator shows red histogram bars below the neutral line on the weekly time frame and on shorter time frames, 4 hours. However, on the daily chart, MACD shows green histogram bars, each shorter than the previous one, above the neutral line. The positive momentum underlying the XRP price trend is likely waning. XRP could find support at the April 19 low of $0.4665.

 

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