• XRP price is slowing down after the recent rally to gather steam for the next run-up.
  • Uphold launches XRP debit cards as it partners with GlobaliD.
  • A decisive 9-hour candlestick close above $0.785 will confirm the start of an uptrend.

XRP price is trading above two critical support levels. A retest of either of these barriers will likely trigger an upswing that shatters the range high and scales to tag new swing highs.

Uphold to launch XRP debit cards with cashback in XRP tokens

Uphold, a digital money platform, recently partnered with GlobaliD, a digital identity platform, to launch XRP debit cards. Interestingly, these cards are from Mastercard and provide 5% cashback paid out in XRP tokens.

The announcement reads,

The XRP debit card tries to combine the power and flexibility of the Uphold platform with the compliance and oversight that GlobaliD provides. Using the debit card, the users would be able to pay in fiat or digital currencies, but the cashback would always be in XRP.

This development is fundamentally positive for XRP and promotes the adoption of digital currencies while users can accumulate Ripple passively. This news comes as the SEC v. Ripple lawsuit is still ongoing.

During the Aspen Security Forum on Wednesday, Brad Garlinghouse, the CEO of Ripple, commented on the case,

You know, to say that we have certainty, we have clarity, is like the alcoholic saying, 'I don't have a problem.’

A win for Ripple, in this case, would be a massive morale booster for the community and might trigger an explosive bull run. 

XRP price eyes a higher high

XRP price came very close to retesting the range high at $0.785 but failed during the recent upswing. Since this point, Ripple has been on a slow and steady consolidation that is sloping downwards.

Although XRP price seemed like it would retest the immediate support level at $0.689, it has not. Going forward, investors can expect the bulls to gather steam after a retest of either $0.689 or the demand zone below it that extends from $0.623 to $0.671.

This move would create a higher high and allow the sidelined investors to step in and trigger a new uptrend. The resulting bull rally must slice through $0.785 and flip it into a support level to confirm further ascent.

Doing so might open the path to $0.90, roughly 30% from $0.689. In a highly bullish case, the $1 level might be tagged.

XRP/USDT 12-hour chart

XRP/USDT 12-hour chart

Regardless of the optimistic outlook, things could turn awry if XRP price shows no strength during the retest of the demand zone extending from $0.623 to $0.671. A breakdown of this barrier will push Ripple down to $0.590.

If this support level is breached, it will invalidate the bullish thesis and potentially trigger a sell-off to subsequent footholds.


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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Omicron crypto surges over 200% after being named as new COVID-19 variant

While cryptocurrency prices retraced after the new coronavirus variant Omicron emerged earlier this week, the digital asset with the same name gained popularity and surged over 200%. The small-cap crypto describes itself as a decentralized reserve currency on the Abribtrum Network.

More Cryptocurrencies News

SafeMoon price dips into buy zone, hints at the start of an 80% bull run

SafeMoon price saw its uptrend face a massive blockade, triggering the start of a huge pullback. Due to the retest of a bullish zone, market participants can expect SAFEMOON to restart its bull rally. SafeMoon price rose 484% from its low at $0.00000104 to $0.00000609 in a month.

More SafeMoon news

Basic Attention Token bucks downtrend with explosive rally to new all-time high

Basic Attention Token has snubbed the crypto downtrend and hit a new all-time high above $1.90. Brave browser has crossed 42 million active users, and BAT token utility is on the rise. Analysts predict a rally in the token.

More Cryptocurrencies news

Vitalik Buterin announces Ethereum scaling roadmap using the Graph protocol

Ethereum co-founder Vitalik Buterin revealed a strategic roadmap to expand the available data space for rollups using Graph protocol. The token’s trade volume has increased, and analysts expect an upwards move in GRT price. 

More Ethereum news

Black Friday 2021 Discounts!

Do you want to take your trading skills to the next level? Now you have a chance of leaping forward at attractive introductory rates. For Black Friday, FXStreet is offering discounts of up to 50% on its upgraded Premium plans. 

Subscribe now!