Wirex app adds support for XRP: Ripple price struggles above $0.45
|- Wirex is a platform that gives users the ability to spend their digital assets using Visa and MasterCard cards.
- The price is currently battling for a support above $0.450 (23.6% Fib level) but the buyers have their eyes on $0.46.
The Wirex app team has announced support for Ripple (XRP). The support comes after users requested to have XRP on the platform. Wirex app customers are now able to buy, sell, exchange as well as deposit XRP tokens in their Wirex wallets. The announcement was made via Twitter and read, “You asked, we delivered Wirex #XRP Wallets are here!”
The announcement was followed with a blog post titled “A Ripple at Wirex” where the team shared a lot about Ripple. The blog post explored the genesis together with the use cases of Ripple. However, prior to that, the CEO of Wirex had tweeted hinting the addition of Ripple onto the platform, “First look at the Wirex #XRP wallet. It’s coming sooner than you think.”
Wirex is a platform that gives users the ability to spend their digital assets using Visa and MasterCard cards. A section of the blog post on Ripple outlined the benefits of Ripple stating:
“Ripple [sic] [XRP] has gained a reputation as a cheap and stable altcoin. While the value of most cryptocurrencies is influenced by the oscillations of Bitcoin, Ripple [XRP] is independent of the Bitcoin blockchain.”
The users can now convert XRP to fiat currency on Wirex app and alter spend the money using the Wirex cards. The card can also be used to buy XRP for the purpose of exchanging with more than 50 altcoins listed on the wallet. Moreover, it is possible to have the wallet linked to debit and credit cards too. In addition to that, users can exchange XRP with Bitcoin (BTC) and Litecoin (LTC). The post showered Ripple (XRP) with more praises:
“Unlike competing cryptos, Ripple has been adopted for internal remittance by many financial institutions – a sure sign of the protocol’s versatility and reliability. Ripple emphasizes the importance of digital security to prevent the production of counterfeit coins.”
Ripple price analysis
Ripple is currently exchanging hands at $0.45, while the upside has been capped below $0.46. The price is still locked within the falling wedge pattern as covered yesterday, which also means that another fall is imminent before Ripple can bounce higher towards $0.50. XRP/USD is also trading within the moving average support and resistance on the 1-hour chart. The 50 SMA is offering short-term support at $0.452 and the 100 SMA is limiting gains at $0.460.
Ripple price trend is currently bearish, although it is up over 2% on the day after opening the trading session today at $0.444. The price is currently battling for a support above $0.450 (23.6% Fib level) but the buyers have their eyes on $0.46 (immediate supply zone) in the short-term. On the flipside, a stronger support is observed at $0.440.
XRP/USD 1-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.