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Western Union Tests XRP – XRP Price Might Be Back to $0.165

Jamie West by Jamie West
April 14, 2020
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United States – One of the leading payment systems, Western Union, have hopes on digital assets, especially when it comes to Ripple’s XRP. The company continues to test XRP despite its unstable performance.

Credit Suisse included JPM Coin, Libra, R3, IBM World Wire, and BitPay as some of the heads in the cryptocurrency zone.

XRP price increases over 2%, wherein it’s over the price level of $0.1860 over the USD. On the other hand, several blocks are close to the level of $0.1900.

XRP/USD might brawl to achieve strong impetus over the resistance levels of $0.1890 and $0.1900.

The XRP price is having difficulty in hitting the support zone of $0.18. Also, the Relative Strength Index or RSI dropped to level 48.

Western Union Checks XRP for Cross-Border Outflows

Western Union Tests XRP XRP Price Might Be Back to 0.165 Dollar

Western Union doesn’t give up on digital asset potentials as it endures to test Ripple’s XRP. As per Credit Suisse’s research, this money-transfer tycoon explores if the technology can lower the global payment charges, yet increase its speed.

According to researchers, Western Union tests and consider utilizing Ripple’s XRP for cross-border settlements regardless of the information that XRP is somehow less strong when it comes to technology.

Hikmet Ersek, the CEO of Western Union, stated on June 2019 that the early attempts of the company with Ripple’s XRP displayed that utilizing this digital asset was costlier than the in-house system of Western Union.

Molly Shea, the general manager of Western Union for Asia Pacific region, stated in February 2019 that the organization is tactically putting itself in place to use digital assets. It’s only if the firm becomes the next trend in global payments.

According to Shea, when people think about digital assets, if startups are about to launch, spectators should be ready. Moreover, she said that everyone needs to prepare from a technology viewpoint.

She further added that Western Union needs to prepare, wherein the regulatory must be preset. Yet, the company is continuously looking for trends where clients are searching. Furthermore, the company should assure that it must be ready to meet the prospects and needs of the customers.

As per the report of Credit Suisse in January, it states that digital assets are improbable to achieve consumer-to-venture settlements adoption. It’s for the medium span.

The report mentions hard times with clash processes and chargebacks, regulatory doubt, taxation, and price instability as probable factors that might slow acceptance.

Aside from Ripple, the Credit Suisse’s report also labels JPM Coin, IBM World Wire, R3, and BitPay, as some of the leads in the industry. These companies push the usage of cryptocurrencies for remittances.

XRP Regains yet There’s a Reason Why It Might Inverse to $0.165

Western Union Tests XRP XRP Price Might Be Back to 0.165 Dollar

Ripple is presently altering higher from the support level of $0.1810 over the United States or the US dollar. The XRP price experiences significant blocks, wherein the price might inverse to $0.1650.

Experts witnessed more losses, which are under the price level of $0.1850. The price exchanged to another monthly low for $0.1812. Furthermore, it’s altering higher.

There was a support zone establishing over the levels of $0.1820 and $0.1840. The XRP price is currently exchanging over the price level of $0.1850, with a Fib retracement level of 23.6%. The Fib level is from the previous drop, from the low price of $0.1965 and $0.1812.

On the other hand, Ripple’s XRP price is experiencing a bullish resistance that’s close to $0.1890, with a simple moving average or SMA of 100-hourly. The Fib retracement level of 50% is from the high price of $0.1965 and a low price of $0.1812. Hence, it’s functioning as a key block.

There’s a significant linking bearish line establishing with a resistance level that’s close to $0.1890. The XRP/USD pair is probable to brawl close to the levels of $0.1890 and $0.1900.

The bulls must gain speed over the level of $0.1920 to be on a favourable zone. The following significant resistance level is close to $0.1965. It’s probable to hasten to the level of $0.2000.

If Ripple didn’t succeed to endure over the resistance level of $0.1900 or the SMA of 100-hourly, there are probabilities of a new drop-in the impending sessions.

Primary support is close to the price level of $0.1850. The chief support is close to the levels of $0.1810 and $0.1800. Bears are probable to target a $0.1650-test level.

XRP Experiences Rebuff at a $0.20-Resistance Level

Western Union Tests XRP XRP Price Might Be Back to 0.165 Dollar

Ripple’s XRP is altering upward during the four-hour chart. The crypto market is increasing, and it hit a high level of $0.18588. XRP recovered on April 6, wherein it hit a new high price of $0.20500. As per the daily stochastic, the digital market hit the overbought status. It resulted in the development of traders to drive prices down.

The bulls retested the resistance level of $0.2050 for two times. It also retested the resistance zone of $0.1962 before the last descending action. The price movement caused by the bearish double top’s development.

The XRP price’s outline is accountable for the decreasing line. The trading pressure might endure, and the bears attempt to halt under the trend. On the bright side, the bulls need to protect the support level of $0.18 before an increasing action can continue. A stopover the $0.1880 and $0.19 is probable. It will push the bulls to stop at the $0.20-resistance level.

The bulls tried to break the resistance level of $0.20. The digital currency market dropped after the resistance’s two ineffective trials. The altcoin is combining over the support level of $0.18. The $0.18-support level is indistinct for the hold. If the present support grasps, Ripple will continue an increasing action. On the other hand, bears might stop the crypto market and current support. The market will drop to a range of $0.163 to $0.17.

The significant support areas are $0.25, $0.20, and $0.15. As for the resistance zones, the levels are $0.25, $0.20, and $0.15.

The XRP/USD is over the daily stochastic range of 40%. XRP is in a strong impetus, yet the momentum is unsteady. The XRP price action is displaying bullish indicators. The EMAs are progressively leaning upward. However, it’s experiencing a $0.20-resistance level.

The Relative Strength Index or RSI of Ripple fell to 48. It’s currently in a downward area, and it’s under the centerline. The pair might decrease further. The EMA of 12-day, as well as the EMA of 26-day, assist XRP. Furthermore, a halt under the EMAs will recommend bearish indicators.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: chartcrypto assetcrypto tradingcryptocurrencydepositordigital assetFib retracementinternationalinvestmentinvestorpayment systemsperformanceprice dropresistanceRSIsupport levelWestern Union
Jamie West

Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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Singapore Permits Ripple to Operate – XRP Price Boosts to $0.1900

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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