Ripple protocol is not meant for retail sale, says analyst, XRP trades at $0.59

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Ripple protocol is not meant for retail sale, says analyst, XRP trades at $0.59
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Ripple (XRP) trades at $0.59 at the time of writing on Wednesday, August 21.

Ripple protocol is not built for retail consumers and does not govern price, according to a crypto researcher. XRP trades at $0.59 on Wednesday. XRP could extend gains by 11% and target $0.66, a key level for the altcoin. Ripple trades at $0.59 at the time of writing on Wednesday, August 21. A crypto researcher is arguing that the native token of XRP Ledger is not built for retail traders and they do not govern retail price.

This is the 50% Fibonacci retracement level of the decline from the July 13 top of $0.9380 to the July 5 low of $0.3823. XRP could face resistance at the Fair Value Gap between $0.5970 and $0.6217, however, as seen in the XRP/USDT daily chart below. The Relative Strength Index reads 55.97, which is above the neutral level. XRP/USDT daily chart XRP could find support at $0.5845, the August 18 high for the altcoin.

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