Ripple is the “Microsoft Of Cryptocurrency” Per Blackmore Group and Wealth Chain Group CEO
Ripple En Route To Becoming The Microsoft Of The Crypto Space
Despite the lawsuits and price drops, XRP has managed to have an eventful year. To highlight this development, Entrepreneur, CEO and international speaker Phillip Nunn compared it to Microsoft.
They will be come the Microsoft of #crypto
— Phillip Nunn 🚀 (@PhillipNunnUK) October 2, 2018
According to Nunn, there are “similarities to Microsoft’s place within the advent of the internet.” He also said “the next wave of crypto” is about adoption, and “XRP and Ripple are getting into all the banks and positioning themselves.”
Another big news to come out of the Ripple camp was xRapid expanding into commercial production with RippleNet.
Ripple’s Performance Recently
There were mostly bullish moves above the $0.5050 support area in Ripple price against the US Dollar. The XRP/USD pair recently traded towards the $0.6200 level and is currently correcting lower.
The price traded as high as $0.6199 recently and later started a downside correction. It declined below the 23.6% Fib retracement level of the last wave from the $0.4370 low to $0.6199 high.
However, buyers appeared near the 61.8% Fib retracement level of the last wave from the $0.4370 low to $0.6199 high. At the outset, there is a declining channel in place with resistance at $0.5400 on the 2-hours chart of the XRP/USD pair.
The pair is currently attempting a break above the channel resistance at $0.5400 and the 100 simple moving average (2-hours). If buyers succeed in gaining momentum above $0.5400, there could be more gains towards the $0.5600 level. Overall, ripple price is positioned nicely above the $0.5050 support. As long as buyers remain in check, there are chances of an upward drift towards the $0.6000 barrier in the coming days.