Ripple Market Overview: XRP/USD goes down despite positive developments

  • Uquid now allows users to pay for services with XRP.
  • XRP/USD went down from $0.36 to $0.33 this Thursday.
  • The market has currently found support at the 20-day simple moving average (SMA 20) curve.

Uquid, a payment platform, will now allow users to pay for a variety of services with Ripple. Users can use Ripple to pay for:

  • Mobile top-ups.
  • Mobile data.
  • Electricity bills.
  • Grocery vouchers.
  • Insurance.
  • Pharmacy vouchers.
  • Transportation.
  • TV Bills.

Despite this news, XRP/USD has gone down from $.36 to $0.33 this Thursday, charting an 8.3% fall in value. The crypto market as a whole has taken a hit this Thursday. Technical analysis shows that a further drop in value is expected. 

XRP/USD Daily Chart

  • The market has currently found support on the 20-day simple moving average (SMA 20) curve.
  • The SMA 200 curve acts like market resistance.
  • Market forms a triangle formation, from which the price has had a bearish breakout.
  • The relative strength index (RSI) indicator has crept towards the neutral zone.
  • The two latest sessions of the Elliot Wave Oscillator is bearish.
  • The signal line has converged with the moving average convergence divergence (MACD) line which means that market momentum is with the bears.


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.