- Xrapid is Ripple’s cross-border payment processing software platform.
- The gap between the moving averages is narrowing to show that the buyers are gaining control.
Ripple price is forming a short-term falling wedge pattern. This also means that an upside breakout is expected in the near-term. XRP/USD breach the resistance at $0.66 but the bears put their foot forward leading to lower corrections, although the crypto was supported by the 100 SMA above $0.65.
The CEO of Ripple, Brad Garlinghouse is very bullish about the network’s payment processing solution, Xrapid. Brad wrote on Ripple’s dedicated Reddit page saying:
“By the end of this year i have every confidence that major banks will use Xrapid as a liquidity tool”
Ripple price is trading between the moving averages support and resistance. The 50 SMA is limiting gains to the upside, while the 100 SMA is still offering support slightly above $0.65. The gap between the moving averages is narrowing to show that the buyers are gaining control. Besides, the MACD is ranging slightly in the positive region to signal the return of the bullish trend. A short-term support is at $0.65, but in the event of extended declines, $0.64 will act as a stronger support.
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