🔊🔊🔊While CEO Brad Garlinghouse discusses stablecoins at the Paris Blockchain Week, #Ripple takes on the $0.60 barrier

Thursday sees #XRP price breaking above $0.60 barrier, continuing altcoin's roughly 5% gain from Monday's $0.58 low.

At the Paris Blockchain Week, Ripple CEO Brad Garlinghouse talks about the company's intentions for a stablecoin and the liquidity of #XRPLedger .

Garlinghouse predicts that exchange-traded funds (ETFs) will emerge, however that the US market may be slow to adopt them.

At Paris Blockchain Week, Ripple's CEO discussed XRPLedger, the USD-backed stablecoin, and US Exchange Traded Funds (ETFs). An increase of roughly 5% has been seen in the price of XRP this week. On Thursday, the cryptocurrency reversed its $0.60 barrier and extended advances.

A representative from Ripple discussed the company's plans for the future of stablecoin market capitalization and the function of USD-backed stablecoins such as USD Tether (USDT) and Circle's USD Coin (USDC).

A stablecoin, according to Garlinghouse, will increase the XRPLedger's liquidity.

By reversing resistance at $0.60, $XRP has extended its gains, according to technical analysis.

On Thursday, Ripple changed the $0.60 level, which is psychologically significant, from resistance to support. At the time of writing, the price of XRP has risen from Monday's low of $0.58 to $0.61, an increase of about 5%. The cryptocurrency is now moving in an upward trending channel, with the $0.6265 high from April 8th and the $0.6336 high from April 1st serving as important resistances on the way to the $0.6431 high on April 9th.

The Awesome Oscillator (AO) green bars lend credence to the idea that the price of XRP will rise.

The positive thesis might be thrown out if the daily candlestick closes below the $0.6123 bottom barrier of the ascending channel. At $0.6027, the 50% Fibonacci retracement level of the rise to the local peak of $0.6265 on April 8, XRP price should find support. After that, in March and April of 2024, $0.5851 acted as support.