Ripple's price analysis: XRP/USD ready to resume the downside movement
|- XRP/USD recovery stalled on approach $0.33.
- Coinone Transfer launches Ripple-based mobile payment app in South Korea.
Currently, XRP/USD is trading at $0.302, off the Asian high of $0.3181. The second largest coin with a market capitalization of $12.3 lost 1.2% in recent 24 hours amid market uncertainty. The coin is trading with a bearish bias, as buyers are nowhere to be seen.
Looking technically, the coin is capped by $0.3080-$0.3100 resistance zone created by SMA50 1-hour and the upper border of Bollinger Band 1-hour. If it is cleared, the upside may be extended toward $0.32500 (SMA50, 4-hour chart) and $0.3470 (SMA100, 4-hour). On the downside, the local support is created by the psychological $0.3000, which is closely followed by the lower border of Bollinger Band 1-hour at $0.2980. Once below, the recent low of $0.2897 will come back into focus.
Meanwhile, Coinone Transfer, a subsidiary of Coinone that provides payment services, launched blockchain-based mobile app and web-service called Cross in South Korea. This is the first solution of the kind deployed in this country. It offers fast and cost-efficient payments to Thailand and the Philippines.
Cross is based on Ripple's blockchain technology. It creates safe payment options for people, including unbanked ones.
"With plans to aggressively expand across the region over the coming months, Coinone Transfer quickly rolled out the service through new financial institutions using RippleNet — connections formed with Siam Commercial Bank (SCB) in Thailand and Cebuana Lhuillier in the Philippines," the press release says.
XRP/USD, 1-hour chart
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