XRP yet to see gains despite Ripple's partnership with Chipper Cash

FXStreet
Updated
Mitrade
coverImg
Source: DepositPhotos

Ripple announced that it has partnered with payment services provider Chipper Cash.


The partnership will explore cross-border payment expansion in Africa using Ripple Payments.


XRP is down 2% after seeing a rejection at the 50-day Simple Moving Average.


XRP failed to recover on Thursday, noting a 2% decline despite Ripple's latest partnership with mobile payment services provider Chipper Cash. The collaboration aims to support cross-border payments for Chipper Cash using Ripple Payments.


Ripple partners with Chipper Cash for faster payment services


Digital asset infrastructure provider Ripple announced in a press release that it has partnered with payment services platform Chipper Cash. The company stated that it would support cross-border payments into Africa using Ripple Payments.


Ripple claims the move will make international money transfers into the continent faster, cheaper and available 24/7. Ripple Payments offers a digital asset-based payment solution designed to reduce transaction costs and processing times using the XRP cryptocurrency.


"By integrating our technology into Chipper Cash's platform, we're enabling faster, more affordable cross-border payments while driving economic growth and innovation across the markets they serve," said Reece Merrick, Ripple's Managing Director, Middle East and Africa, in the press release.


Chipper Cash claims that the partnership will help users begin to send and receive payments faster and at lower costs.


The announcement follows Ripple's agreement to drop its cross-appeal against the United States Securities and Exchange Commission (SEC) after the agency dropped its appeal against the company.


With the SEC's regulatory headwinds now behind the company, Ripple is seeking expansion into more international markets. Earlier in the month, the company announced it secured a regulatory license from the Dubai Financial Services Authority (DFSA) that will enable it to offer crypto payment services to businesses in Dubai.


XRP sees rejection near 50-day SMA, risks decline to $1.96


XRP saw $10.39 million in futures liquidations in the past 24 hours, per Coinglass data. The total amount of liquidated long and short positions accounted for $9.09 million and $1.30 million, respectively.


XRP is testing the support at $2.34 after seeing a rejection near the 50-day Simple Moving Average (SMA) and declining 2%. A decline below this support level could send the remittance-based token toward $1.96 if it fails to bounce off the upper boundary of a descending channel. However, if bulls defend $2.34, XRP could retest the $2.60 resistance.


XRP/USDT daily chart

XRP/USDT daily chart


The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are in a downtrend below their neutral levels, indicating dominant bearish momentum.

A daily candlestick close below $1.96 will invalidate the thesis and could send XRP to the support level at $1.35.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Ripple Price Forecast: Five XRP spot ETFs face 85% approval odds after SEC leadership shiftRipple (XRP) price hovers at $2.24 at the time of writing on Wednesday as bulls try to prevent the pullback from its April peak of $2.36 from extending further.
Author  FXStreet
18 hours ago
Ripple (XRP) price hovers at $2.24 at the time of writing on Wednesday as bulls try to prevent the pullback from its April peak of $2.36 from extending further.
placeholder
Bitcoin Demand Momentum Yet To Recover From Deep Negative Zone, Analyst SaysAccording to a recent CryptoQuant Quicktake post by analyst Crazzyblockk, Bitcoin’s 30-day Demand Momentum is still firmly in negative territory.
Author  NewsBTC
18 hours ago
According to a recent CryptoQuant Quicktake post by analyst Crazzyblockk, Bitcoin’s 30-day Demand Momentum is still firmly in negative territory.
placeholder
Approval odds of ETFs rise in 2025 even for altcoinsThe odds of ETF approvals are rising, with most applications focusing on Solana and XRP.
Author  Cryptopolitan
18 hours ago
The odds of ETF approvals are rising, with most applications focusing on Solana and XRP.
placeholder
Ethereum’s Narrative Crisis Becomes Contentious Amid Store of Value and Revenue DebateThe Ethereum network is facing a “narrative crisis,” with its community splintering over ETH’s core value proposition.
Author  Beincrypto
19 hours ago
The Ethereum network is facing a “narrative crisis,” with its community splintering over ETH’s core value proposition.
placeholder
Investors Pour Into Bitcoin ETFs for 8th Straight DayOn Tuesday, institutional investors continued to pour capital into spot Bitcoin ETFs, marking the eighth consecutive day of inflows.
Author  Beincrypto
19 hours ago
On Tuesday, institutional investors continued to pour capital into spot Bitcoin ETFs, marking the eighth consecutive day of inflows.
Real-time Quote