XRP boost as BitPay announces worldwide support – can bulls react?

2023-8-17 18:17

XRP price is trading below $0.60, down 5% in the past 24 hours. BitPay recently announced worldwide support for XRP payments. Key price levels are at $0.55 and $0.70, respectively demand and reload zones.

XRP price is down 5% in the past 24 hours to trade below $0.60, with bears threatening to wipe out all gains from the past month or two.

The win over SEC that catapulted the Ripple cryptocurrency higher has all but faded too. For XRP bulls, it’s all looking ominous with prices likely to retreat to a key support base. But could a reaction be in the offing even as the market ponders its next move amid widespread stagnation?

XRP got a BitPay boost

On August 4, blockchain payments provider BitPay released a major update – an impending worldwide support for XRP. 

BitPay released worldwide support for XRP, allowing #BitPay users across the world to buy, store, swap and spend $XRP across all BitPay solutions.

Learn more about XRP:https://t.co/ndvp5M0Gdp pic.twitter.com/CBFztrBAVh

— BitPay (@BitPay) August 15, 2023

According to the company, adding the cryptocurrency to the list of supported coins (including Bitcoin, Ethereum, Litecoin and Dogecoin) would allow merchants to accept payments in XRP from across 100 wallets.

BitPay’s move means its customers can now buy XRP, store it or spend it on goods and services from anywhere in the world where merchants accept the top 10 altcoin.

What’s the XRP price reaction?

The XRP market hasn’t seen significant upside reaction in the days following the news. Indeed, prices are down 10% in the past week. However, adoption news for XRP has been steady since Ripple’s triumph over SEC, and could see more bullish reaction if the regulator loses again. [Read more].

Looking at the charts, the daily RSI is heading deeper into the oversold territory and more room for sellers means prices could be poised for a retest of a previous support-turned-resistance zone at $0.55. A deeper rot to lows of $0.40 is possible.

XRP price chart. Source: TradingView

 However, the 100-day SMA is located here and could provide a robust buffer. A rebound in the short term could bring bulls to the 50-day SMA level – with the hurdle at round $0.62 – and highlight a return to above $0.70. 

The psychological $1.00 remains the desired short-term play, before a retest of 2021 highs.

The post XRP boost as BitPay announces worldwide support – can bulls react? appeared first on CoinJournal.

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xrp support price worldwide bitpay key levels

Источник: coinjournal.net

xrp support → Результатов: 126


Ripple’s XRP Chart Is ‘Not Looking Good’: Could Dip 60% More if This Support Breaks

A popular crypto analyst on X, known as @ChartMonkeyBTC, has issued a dire warning about the future price trajectory of Ripple’s XRP token. According to the analyst’s technical analysis, XRP’s chart is “not looking good,” and the cryptocurrency could potentially dip by a staggering 60% from its current levels if a critical support level fails […] The post Ripple’s XRP Chart Is ‘Not Looking Good’: Could Dip 60% More if This Support Breaks appeared first on CaptainAltcoin.

2024-4-19 23:30


XRP Wrestles with Support, Hoping for a Reversal

The Ripple (XRP) price has retraced all the way back to an important support level. If the support holds and can give XRP a bounce, there is a lot of room to the upside for the price to go. XRP Long-Term Breakout At the beginning of July, the XRP price broke out from a long-term […] The post XRP Wrestles with Support, Hoping for a Reversal appeared first on BeInCrypto.

2020-9-8 16:11


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