#Ripple’s #XRP price analysis: Make or break – triangle breakout around the corner
Traders of XRP have something to smile about as we usher in the new year. One of the world’s leading cryptocurrency exchanges, Kraken has announced its support for XRP margin trading. The announcement was made via a press release sent to various news outlets and stated:
"We have enabled margin trading for Bitcoin Cash (BCH) and Ripple (XRP)! The addition expands our margin offering to 8 assets." Meanwhile, Ripple’s XRP is closing the year while trading in the red following the rejection it experienced above $0.4. At press time, XRP has corrected lower 2.97% on the day after it opened the day’s trading at $0.3753. The asset is trading at $0.3641 is below the 50 SMA and the 100 SMA on the 60’ timeframe chart. Moreover, since the downward correction from the December highs, XRP has been forming a contracting triangle that is moving towards a breakout in the short-term.
About Ripple's (XRP): Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts. Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement. XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa. XRP's five-year track record of stable technology and governance makes it ready for institutional and enterprise use.
XRP is the 2nd largest cryptocurrency by market cap size. Its market cap is currently $14,607,646,461 and it has a circulating supply of 40,794,121,066 XRP. It's down 2.60% over the past 24 hours and is currently trading at $0.358082.