• XRP/USD recovery is capped by $0.33.
  • American Express performed successful tests of Ripple's xCurrent.

Currently, XRP/USD is trading at $0.3121, off the recovery high of $0.3246. The second largest coin with a market capitalization of $12.6 is marginally higher on a day-to-day basis as the weekend recovery stalled.

Looking technically, the coin is capped by $0.33 handle, followed by $0.3330 (SMA50, 4-hour chart). If it is cleared, the upside may be extended towards $0.3544 (SMA100, 4-hour). On the downside, the local support is created by $0.3100. Once below, the recent low of $0.2897 will return into focus.

Meanwhile, American Express tested Ripple’s xCurrent solution for cross-border payments and liked the results. Speaking at the Wings of Change Europe conference in Madrid, Carlos Carriedo, general manager of corporate payments in the company, admitted that the technology could significantly speed up the international payments.

“We did a pilot. We did a test, partnering with Santander locally, and with Ripple to just do cross-border transactions. Cross-border transactions continue to be complex and slow. And in a matter of seconds, through this test, our clients were able to transfer funds in a very transparent and seamless way, from one part of the world to the other one,” he said.

American Express bets on the potential of blockchain technology and invests heavily in fintech research and development.

“Blockchain is absolutely an option we’re looking at. Just to give you a sense, we have invested in a fintech lab based on blockchain technology, just to understand how to leverage this better…" he added.

American Express and Santander became partners with Ripple in November 2017 with the aim to speed up non-card transactions between the US and UK. Currently, both companies are eager to expand their partnership.

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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Dogecoin bulls hold the key for 40% gains

Dogecoin price has seen a massive surge after Elon Musk’s recent tweet revealed that he is working with the developers of the meme coin to improve its transaction efficiency. With DOGE approaching a critical point in its uptrend, more gains stand to be realized if buyers push through.

More Dogecoin News

Ethereum Classic targets $500 next

Ethereum Classic price surged by over 400% during the first week of May, creating a new all-time high at nearly $180. ETC has retraced since then by over 50% and is currently trading at $0.87. Now, this cryptocurrency seems prime to resume its uptrend as it tries to break out from a continuation pattern.  

More Ethereum Classic News

Ripple reversal could result in 30% advance

XRP price has witnessed a massive crash due to the Tesla-induced market crash on Wednesday. Now Ripple could either test the immediate demand barrier or slice through the supply zone to rally higher.

More Ripple News

Bitcoin clings to support, on-chain metrics show sellers' onslaught

Bitcoin price underwent a severe nosedive as Elon Musk revealed Tesla’s decision on accepting payment in BTC. This development was the major highlight of the week, with the recent mining difficulty adjustment coming in at a close second. 

More Bitcoin News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast