xrp crypto value

Ripple price eyes 30% upswing as Uphold announces XRP debit cards

Ripple flows out of exchanges as Bitcoin and Ethereum inflow spikes
Written by publisher team

  • XRP price is slowing down after the last rally to gain strength for the next rally.
  • Uphold launched its XRP debit card as it partnered with GlobaliD.
  • The decisive 9-hour candlestick closing above $0.785 will confirm the start of the upward trend.

XRP price is trading above two important levels of support. Retesting any of these barriers is likely to trigger an upward move that shatters the higher range and metrics to identify new swing highs.

Stick to Launching XRP Debit Cards With Cashback in XRP Tokens

Uphold, a digital money platform, recently partnered with GlobaliD, a digital identity platform, to launch XRP debit cards. Interestingly enough, these cards are from Mastercard and offer 5% cashback paid in the form of XRP.

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The XRP Debit Card attempts to combine the power and flexibility of the Uphold platform with the compliance and oversight provided by GlobaliD. With a debit card, users will be able to pay with fiat or digital currencies, but the cashback will always be in XRP.

This development is mainly positive for XRP and encourages the adoption of cryptocurrencies while users can negatively accumulate Ripple. This news comes as the SEC lawsuit against Ripple is still ongoing.

During the Aspen Security Forum on Wednesday, Brad Garlinghouse, CEO of Ripple, commented on the issue,

You know, saying we have certainty, and clarity, is like saying the alcoholic, “I don’t have a problem.”

A Ripple win, in this case, would be a massive morale booster for the community and could lead to a bull run.

XRP Price Looks Higher

XRP price came close to retesting the high range at $0.785 but failed during the recent rally. Since this point, Ripple has been in a slow and steady consolidation movement sloping downwards.

Although XRP price seemed to retest the immediate support level at $0.689, it did not. Going forward, investors can expect the bulls to gain momentum after a retest of either $0.689 or the demand area below which extends from $0.623 to $0.671.

This move will create a higher top and allow marginal investors to step in and launch a new bullish trend. The resulting bullish rally should break through $0.785 and turn it into a support level to confirm further upside.

Doing so could open the way to $0.90, roughly 30% of $0.689. In the event of an extreme rise, the $1 level may be marked.

XRP / USDT 12-hour chart

Regardless of the optimistic outlook, things could go awry if XRP price does not show any strength while retesting the demand zone extending from $0.623 to $0.671. A breakdown of this barrier will push Ripple down to $0.590.

If this support level is breached, it will invalidate the bullish theory and likely lead to a subsequent sell-off.

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