Ripple Price Analysis – July 3

  • In a bullish trend, traders can buy low and sell high.
  • Ripple is above the  12-day EMA and the 26-day EMA indicating that the cryptoasset is rising.

Ripple, XRPUSD, CryptoCompare chartRipple Chart by TradingView

XRPUSD Medium-term Trend: Bearish

Supply Levels: $0.50, $0.51, $ 0.52

Demand levels: $0.48, $0.47, $0.46

Yesterday, July 2, Ripple  price was in a bearish trend. On July 2, the bulls took  price from the low of $0.45, and then to the high of $0.51. However, the bears brought price to the low of $0.49. The season of bearish pressure may soon be over as the bulls make another attempt. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

Also, the price bars of Ripple are above 12-day EMA and the 26-day EMA which indicates that the bearish trend is continuing.

XRPUSD Short-term Trend: Bullish

Ripple, XRPUSD, CryptoCompare chartRipple Chart by TradingView

On the 4-hour chart, the price of Ripple is in a bullish trend. The price bars of Ripple is above the 12-day EMA and the 26-day EMA indicating that the cryptoasset is rising. Meanwhile, the relative strength index period 14 is level 60 which indicates that price of  Ripple is in the bullish trend zone. In a bullish trend traders can buy low and sell high.

 

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Santander Clarifies It Isn't Using XRP for International Payments

Spanish bank Santander has recently clarified via microblogging platform Twitter that it isn’t using the XRP cryptocurrency for international payments, but is instead using a product developed by Ripple, the firm behind the token.

Santander’s clarification came shortly after it mistakenly told a Twitter user who asked whether it was using XRP that it was using the cryptocurrency for “international payments to 18 EU countries and the USA” through its One Pay FX app.

Given the attention the tweet received, Santander clarified the very next day it was a misunderstanding, and that its One Pay FX app uses Ripple’s xCurrent technology, and not the XRP token.

In its tweet Santander linked to a press release from last year, in which it revealed it was going to use blockchain-based technology to conduct international transfers for clients “on the same day in many cases or by the next day.” Per the document, Santander was the first bank to “roll out a blockchain-based international payments service to retail customers in multiple countries simultaneously.”

As CryptoGlobe covered in March of last year, the Spanish bank partnered with Ripple to launch the One Pay FX app, which is said to rely solely on Ripple’s xCurrent and RippleNet products, not XRP. The app’s users aren’t just able to see their transactions get settled in a short amount of time, they’re also able to see how much each transfer will cost.

One Pay FX was initially available to users  in Spain, the UK, Brazil, and Poland. Over time, Banco Santander revealed it was set to roll it out to more countries throughout the world. Notably, Santander has invested in Ripple back in 2015 and 2016.

Last year, Ripple formed various partnerships to see financial institutions use its products. Among them was MoneyGram, with the goal of speeding up fiat currency settlements. It also joined a consortium of 61 Japanese banks to create an instant payments app .