XRP Price Analysis – April 15

  • The XRPUSD pair ranges at the $0.32 price level.
  • The XRPUSD pair will resume its bullish trend if the bulls break above the $0.34 price level.

Ripple, XRPUSDXRP Chart by TradingView

XRPUSD Medium-term Trend: Bearish

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.33, $0.31, $0.29

Last week the XRPUSD pair traded in the bullish and bearish trend zones. In the bullish trend zone, the bulls tested the $0.37 resistance level and were resisted. The bears broke the 12-day EMA and the 26-day EMA to reach the bearish trend zone. In the bearish trend zone, the crypto's price was ranging at the $0.32 price level.

The crypto's price is also below the EMAs which indicates that the price is likely to fall. However, if the crypto's price  ranges for a day or two it may have a price breakout or a price breakdown. On the upside, if the bulls break the $0.34 price level the crypto's price will resume its bullish trend to retest the $0.37 price level.

On the downside, if the bulls fail to break the $0.34 price level, the crypto's price will resume its range bound movement between the levels of $0.29 and $0.34. Meanwhile, the stochastic is in the oversold region but above the 20% range. This indicates that the XRP price is in a bullish momentum and a buy signal.

XRPUSD Short-term Trend: Ranging

Ripple, XRPUSDXRP Chart by TradingView

On the 4-hour chart, the XRP price is in a range bound movement. On April 11, the bears broke below the 12-day EMA and the 26-day EMA to reach the low at $0.32 .The crypto's price is commencing  a range bound movement below the EMAs and at the $0.32 price level.

Nevertheless, if the bulls break above the EMAs, the crypto's price will resume its bullish trend. On the other hand, if the bulls fail to break above the EMAs, the price will continue its range bound movement. Meanwhile, the stochastic indicator is in the oversold region but above the 40% range which indicates that the XRP price is in a bullish momentum and a buy signal.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.        

New Wirex Visa Card Offers Users Cryptocurrency Rewards

A new Visa card launched by borderless payment platform Wirex rewards users with 1.5% back in bitcoin on all in-store purchases, allowing users to earn crypto rewards for using it.

According to a press release shared with CryptoGlobe, Wirex announced its new Visa Travelcard at the Singapore FinTech Festival. The card supports more than 150 currencies and processes cryptocurrency exchanges to fiat currency before transacting on the visa network.

It’s reportedly supported anywhere Visa is accepted and allows for free ATM withdrawals. Wirex touts its “first in the world” program allowing users to earn cashback in cryptocurrency. Per the firm the first 2,000 to order and activate a Wirex Travelcard will receive 20 Nano.

To get users onboard Wirex is removing management and traditional currency exchange fees for a limited period. The card is set to be available across the Asia-Pacific region. The firm’s CEO Pavel Matveev was quoted as saying it “witnessed an explosion in demand for hybrid fiat and crypto-enabled banking alternatives in APAC, where people need payments redesigned for the future.”

Wirex is one of the only cryptocurrency-related companies in the world to have been granted a UK FCA e-money license. Earlier this year it launched the WXT token on OK Jumpstart, OKEx’s IEO platform.

The firm’s announcement added it’ll soon release a “revolutionary selection of fiat-backed stablecoins.” Wirex is one of various fintech firms entering the crypto space. Revolut, for example, added stop orders for trading BTC, ETH, and BCH and others earlier this year.

Featured image by Nathan Dumlao on Unsplash.