Ripple price analysis: XRP/USD bullish momentum returns while Ripple signs new partnerships in Asia and Europe
|- FairFX, RationalFX and Exchange4Free are from the United Kingdom, UniPay is from Georgia while MoneyMatch is from Malaysia.
- Ripple price short-term support is at $0.84, although $0.80 is the highlighted major support area.
Ripple is up 6.67% in the last 24 hours on Friday ushering in bullish momentum after it had corrected lower for a few days. XRP/USD traded highs of $0.95 before embarking on a downward movement where it traded below $0.78. Ripple yesterday released its report for the first quarter of 2018. The Report shows that the company’s market share increased, however, its price dropped by 73% from its all-time high of $1.91 to lows of $0.51.
In other news, Ripple has recently signed new partnerships with companies from Asia and Europe. Some these companies include FairFX, RationalFX and Exchange4Free are from the United Kingdom; UniPay is from Georgia while MoneyMatch is from Malaysia. The CEO of RationalFX, Chris Humphrey was reported saying:
“This is an exciting new partnership for RationalFX, and we look forward to passing on the benefits of xVIA to our clients across the globe.”
Ripple’s xVia’s API gives banks and other payment institutions the opportunity to carry out money transfers in a transparent and less costly manner. Commenting on xVia’s API, the senior vice president of product at Ripple Asheesh Birla said:
"By tapping our global network with xVia, our customers now access new markets quicker and cost efficiently. All of these customers run into the same problem: building bespoke connections to banks and networks all over the world. It’s expensive and time consuming. xVia enables them to grow their overall market share by reaching new customers in new markets, easier than ever before.”
Ripple price technical analysis
Ripple price recently broke above the bearish trend on the 30’ timeframe chart, at the same time it is exchanging hands above the intraday high recorded during the trading on Thursday $26. The moving averages are pointing towards a growing bullish momentum that could break above $0.9. Similarly, the MACD is moving further into the positive levels to signal that the buyers have the upper hand. There is a short-term support formed at $0.84, although $0.80 is the highlighted major support area.
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