Ripple has marched higher in the recent days as the platform is close to launching a new product called xRapid. By doing so, the XRP will be used as a bridge between currencies with the aim to facilitate the process of faster cross-border transactions. As expected, the price has skyrocketed in just 24 hours, at one point trading at 0.79$. It has retraced since but it came down to 0.49$, before consolidating in the mid 0.50s. but it has still managed to hold to a majority of gains bearing in mind that the price was around 0.27$ before the news about xRapid hit the media. The price action managed to leave the wedge
as the resistance area
around 0.70$ is still a target for bulls. On the downside, 200 DMA will likely provide solid support for the bulls as the new long trades may be initiated against that level.