Binance XRP credit card purchases go live: Ripple poised for a bullish flag pattern breakout

• “XRP purchasing using a credit card is working now. Slowly but surely,” Binance CEO, CZ.
• Expect XRP/USD to hold tight above $0.30 in the short-term.

Just a few weeks after Binance launched credit card purchases for cryptocurrencies like Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), the CEO of the exchange platform, Changpeng Zhao (CZ) has announced the same support for Ripple (XRP). The support comes after the XRP community asked CZ to include the second largest digital asset on the new game changer feature.

At the moment, XRP users can buy the digital asset on Binance using credit cards. Binance was able to launch the new payment system following a partnership with Simplex, a payments processing firm. The new feature allows users to easily access cryptocurrencies by avoiding long processes that required them to buy from other exchanges before transferring the assets to Binance. Zhao said via a tweet:

“XRP purchasing using a credit card is working now. Slowly but surely.”

Ripple price technical picture

Ripple corrected higher on Friday 8 and touched the resistance at $0.32. However, the bulls lacked a catalyst to hold the growth above this level leading a correction towards $0.3. Presently, XRP is changing hands at $0.302. Attempts to correct higher today have been capped by a high seller concentration as $0.31.

A breakout is expected in the short-term as the price trends higher toward the bullish flag pattern resistance. If Ripple escapes the resistance at $0.31, further gains will face more hurdles at the supply ($0.33). Meanwhile, both the 4-hour 50-day Simple Moving Average (SMA) and the 100-day SMA is working as immediate support lines. Expect XRP/USD to hold tight above $0.30 in the short-term but a slide below the same level will find support at $0.29 and the primary support at $0.2851 (previous low).

XRP/USD 4-hour chart