XRP (XRP) is up over 8% in the last 24 hours following the latest market rebound. At the time of publication, XRP was changing hands at $0.3730, up 2.53% for the week. Ripple remittance technology is expanding fast into Mexico as Ripple partner Volante Technologies, cloud payments, and a financial messaging firm is partnering with Banca Afirme, S.A. (Afirme), a subsidiary of Afirme Grupo Financiero, S.A. de C.V., to modernize its payments infrastructure. As part of an ambitious digital transformation initiative designed to enrich its customers’ banking experience, the Mexican bank, Banca Afirme, has started its modernization journey by automating SWIFT cross-border transaction processing. ISO 20022 readiness and the addition of other cross-border payment types are next in line.
Key Levels
Resistance Levels: $0.5900, $0.4700, $0.4000
Support Levels: $0.3500, $0.3330, $0.2875
XRP/USD Daily ChartXRP experienced a surge in demand and caused the price to rise over the MA 50 at $0.3450 in the prior session. The XRP/USD pair carried on its upward trend in today’s session, reaching a daily high of $0.3793. Improved market mood and an earlier bottoming pattern seen on the chart are further factors supporting the price increase. The increasing RSI has entered the buying region, although it has not yet shown full traction for the upward trend.
Beyond today’s high of $0.3793, comes the level of $0.4000, which may serve as the next significant barrier before the next consolidation phase around the $0.3330–$0.3750 zone. The XRP/USD pair may increase to reach the $0.5900 moving average (MA 200) zone should buyers overcome these challenging barriers. As an alternative, if the markets turn out to be overbought, the downward trend might slightly gain traction.
XRP/USD 4-Hour ChartOver the previous four-hour sessions, XRP has been generating a strong bullish rise that has taken it to highs of $0.3793. Despite the price’s stall at its intraday high, the technical indications continue to point in a favorable direction. The $0.4000 resistance levels might be conquered by XRP/USD pair before a more significant battle begins close to the $0.4700 barrier.
However, if the price were to drop below the psychological $0.3500 zone, support would first be seen at the 4-hour moving average (MA 50), followed by the $0.3330 and $0.2875 handles. On the flip side, a surge above $0.4000 may attract further buyers, and a close below $0.3500 may increase selling interest. To sum up, XRP/USD is rising with significant momentum and needs only a solid close.
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