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Ripple Plans to Improve Its Treasury Payments, Will This Boost XRP Price?

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VOC,Voice of Crypto, Ripple, XRP

Ripple’s blockchain technology is being integrated with FOMO Pay, one of the leading payment institutions in Singapore.

FOMO Pay is leveraging Ripple’s ODL technology to improve its treasury payments. They can now access liquidity for the euro and US Dollars at any time, which will make it easier than ever before.

The old way of sending money used to take up a few days before it reached its destination. This is no longer the case with Ripple’s innovative blockchain technology. FOMO Pay CEO Louis Liu announced that the company will now be able to conduct affordable and nearly instantaneous settlements with their new payment network.

According to Brooks Entwistle, SVP and Managing Director at Ripple, the Asia-Pacific region is full of opportunities to solve issues related to inefficient payment mechanisms.

Ripple (XRP) Price Analysis

XRP’s break above the $0.34-level helped buyers test an immediate supply zone last week, which may signal that more gains are coming soon for this cryptocurrency. But the buyers could not break through the 50 EMA (cyan) obstruction in daily charts.

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In light of the previous breakout, buyers are now aiming to uphold the $0.344-level as it has proven itself an excellent support zone for this pair in recent times. If XRP reaches a close above this level, it could be very positive for the future of Ripple’s (XRP) movements. XRP is currently trading at $0.3458 per coin, down 4% from yesterday’s price during midday trading.

XRP Daily Chart

XRP/USDT Chart

XRP/USDT Chart | Source: TradingView 

XRP continues to show promise as it bounces back from the $0.3 support level after a brief hiatus below this psychological mark on 18 June 2018. The altcoin had been dancing around its near-term EMAs, but with the supply zone curtailing buying momentum, it entered low volatility.

XRP saw a double-bottom structure that aided buyers in propelling an upward retest of the 50 EMA. XRP has struggled to stay above the EMAs as it is still restricted by the 62.5% Fibonacci level, which makes for caution among buyers and sellers alike.

The price could move towards the $0.37 mark in coming sessions as long as it maintains above the $0.344-mark. The buyers needed to push up the volumes to find a close above the supply zone that would turn around their narrative on bears in their favor.

However, any drop below the immediate support could delay the prospective recovery by a few days.

XRP’s throwback toward the double-bottom breakout point could lay forth a comeback opportunity for investors. This means that in this case, the potential targets would remain as discussed. It is possible that the threats along these indicators could delay this expected recovery.

To determine whether or not Ripple will be range bound, you must pay attention and monitor both its movement and the broader sentiment.

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Adekunle Joshua is a cryptocurrency writer. He has a deep understanding of the technology and how it can be used to improve the world. James is a strong advocate for using cryptocurrency to make the world a better place. He wants to help people understand the technology and use it to improve their lives.

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