XRP (XRP) is trading lower just like the rest of the market, this time returning near the key support at $0.30. At the time of publication, XRP was changing hands at $0.31, down 2.60% in the last 24 hours. Cross Tower and Fintech Company Ripple, have announced a new partnership. Here, NFT collections minted on XRP Ledger will launch on CrossTower’s marketplace, and therefore XRPL NFT developers and creators will have full access to the site’s functionality and global audience. Kapil Pathi, CEO of CrossTower, said the partnership with Ripple and the use of XRPL on the platform opens up opportunities for CrossTower to expand into new markets, particularly India. The first line of XRPL NFT projects on the marketplace will be introduced in the coming weeks. Ripple, on the other hand, recently reported on the successful testing of a new standard for creating complex NFT objects on the XRP Ledger, XLS-20.
Key Levels
Resistance Levels: $0.4700, $0.4000, $0.3750
Support Levels: $0.3000, $0.2875, $0.2500
XRP/USD Daily ChartXRP (XRP) found strong support at the $0.2875 level. Since then, the price of the XRP/USD pair has increased and reached the moving average (MA 50). A trend continuation cannot be ruled out given the bullish attempt of the MA 50 and the relative strength index (RSI) being above 40, which supports a consolidation view.
The $0.3750 horizontal barrier may serve as the next resistance level if the price rises in the ensuing sessions. By breaking through this barrier, the near-term upswing would be strengthened, opening the door to the $0.4000 levels. The MA 50 zone at $0.3650, which has historically served as resistance, might be reached if rising momentum strengthens.
XRP/USD 4-Hour ChartThe price of XRP/USD has been ranging along the horizontal level of $0.3330 on the 4-hour chart ever since it found strong support at $0.2875. The pair, however, has been weakening since its most recent rally came to a halt near the $0.3594 medium-term high. Price is trading beneath the 4-hour moving average (MA 50), suggesting a neutral to slightly negative initial bias.
XRP may breach the support at $0.3000, just beneath the price of $0.31, if the selling pressure persists. In contrast, if the bulls regain control, the first resistance level at $0.3750 might be overcome. The next barrier for buyers farther up could be at the $0.4000 level. XRP has been on the defensive from bears since June.
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