Ripple price analysis: XRP/USD recovers from the crash, aims at $0.50
|- XRP/USD is up 3.3 % on a daily basis, off the recent lows.
- Ripple enters a new partnership deal with CIMB.
XRP/USD is changing hands at $0.4761, which is 3.3% higher since this time on Thursday. Ripple's coin is now the second largest coin with the market value over $19B.
The company has been expanding its partnership network lately. ASEAN’s fifth largest bank CIMB has joined RippleNet to create a faster cr0ss-border payment transfers system between the countries of the region, according to the press release, published on Ripple's website. The deal will allow CIMB to join the network of other Ripple customers and expand its network of global payment transfers.
“We are delighted to be part of RippleNet and look forward to a fruitful partnership with Ripple by leveraging each other’s strengths and capabilities. This innovative blockchain solution will revolutionize international cross-border remittances, and is a testament to CIMB’s ongoing efforts to enhance its digital banking proposition by providing speedy and cost-efficient solutions to our customers across ASEAN,” said Tengku Dato’ Sri Zafrul Aziz, CEO, CIMB Group.
Ripple's technical picture
From the short-term point of view, XRP/USD is capped by SMA100 (1-hour) at $0.4949. Once it is cleared, the recovery may be extended towards psychological $0.50.
On the downside, the support lies with $0.4727 (SMA50, 1-hour) and ).4700.
XRP/USD, 1-hour chart
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