Ripple XRP USD Dominant Trend: Bullish
Supply Levels: $0.47, $0.48, $0.49
Demand Levels: $0.39, $0.38, $0.37
The value of the XRP was appreciated by 5% in the last two days, with positive exchanges since the bulls seemed to be dominant. After establishing a significant resistance, the crypto-asset has retreated slightly to recover a bullish momentum. If the bulls cannot keep upward pressure, we could see a short bearish movement. However, the market still looks bullish at the moment. The XRP/USD pair predicted a significant price increase of more than $0.4, which brought the market to a trading price of $0.429 at the time of writing. It is interesting to note that this is a three-day market now, which the third largest cryptocurrency continues to slowly rise within the rising wedge, showing a gradual upward movement above the 50-day MA. The recent price change was revealed in the 4-hour MACD, which reflects the bullish scenario. Currently, the market has returned to the oversold zone on the 4-hours stochastic RSI, with a selling pressure approaching the demand level of $0.39.
Also, with this support, a flaw could send the market to the $0.38 and $ 0.37 demands. If the bulls enter the competition, the price of the XRP could reach $0.47, $0.48 and $0.49 of the supply level. Technically, XRP/USD is still in bullish mode and could be fixed higher. It is initially supported at $0.40; $0.39 will offer demand, as well as $0.38 and main demand at $0.37. In addition, rumors have been confirmed that the partnership between Ripple and MoneyGram has been confirmed. The blockchain company and the funds’ transfer network will work together for cross-border payments, as well as for monetary agreements with digital assets. This partnership allows MoneyGram to obtain up to $50 million from Ripple in exchange for capital. The agreement would involve the deployment of xRapid for cross-border transfers using XRP. After having exceeded $0.46, the XRP has been corrected to $0.428 at present.