Ripple price growing supported by news about Western Union partnership

  • XRP/USD is back above $1.00
  • Western Union is testing transactions with Ripple

Stories about Western Union’s partnership with Ripple that have been circulating around since January seems to be real. Speaking with Bloomberg, Raj Agrawal, the chief financial officer of Western Union, confirmed that it is testing transactions with Ripple. 

While the process is still in the evaluation stages, Agrawal does not see big hurdles ahead, which means that the San Francisco-based startup might be able to add another major partnership to its portfolio. 

The short-term technical picture is mildly positive as on the hourly chart XRP/USD climbed back above the phycological level $1.00 which coincides with 21-SMA now. The major short-term support for XRP/USD is based at $0.94, once it is broken, the Ripple price may move lower towards $0.85. On the upside, the resistance at $1.0478 is followed by Monday’s high at $1.0766, while the major hurdle is produced by $1.10 level. 

XRP/USD, hourly chart

XRP/USD hourly chart

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