On Monday the Ripple price jumped above the $0.65 psychological level as buying pressure dominated the market. However, bulls soon ran out of steam and retreated to close the day at around $0.622. Before that, XRP dropped from a high of $0.710 to a low of $0.513 between July 4 and July 20. During the downfall, XRP flipped the 50-day and the 100-day SMAs from support to resistance and reversed the parabolic SAR from positive to negative on the daily chart. Ripple and SBI Remit Partnership Bolsters XRP Above the $0.70 Psychological Level Ripple has announced the implementation of its first On-Demand Liquidity (ODL) service in Partnership with SBI Remit, the largest money transfer provider in Japan. SBI Remit has gone live with Ripple’s ODL as part of an operation aimed at remitting payments from Japan to the Philippines. The ODL implementation is expected to enable initiate more adoption of crypto-initiated services within the Asia Pacific region. The partnership addresses the increasing demand for affordable remittance services among the Filipino diaspora, which is one of the largest in the world. ” The launch of ODL in Japan is just the start, and we look forward to continuing to push into the next frontier of financial innovation, beyond real-time payments in just the Philippines, but to other parts of the region as well,” said Nobuo Ando a Representative Director of SBI Remit These news could be the force hind wind that is currently skyrocketing XRP price to the moon. Get FREE Crypto Signals Now! Ripple Price Upward Rally Eyes $0.80 XRP has been bullish since July 21 rising almost 41% from $0.513 to the current price at $0.71. The rally saw Ripple price flip the 50-day, 100-day and 200-day SMAs from resistance to support. However, the bullish momentum was not strong enough to keep XRP price above the $0.65 psychological level as it retracted on Monday to close the day at $0.631 on Tuesday. An area that now acts as immediate support coinciding with the 200-day SMA. If you want to buy XRP, note that it broke outside the trading range defined by the descending parallel channel to rise above the $0.70 psychological level. XRP is currently trading at $0.719 and appears to be battling immediate resistance at $0.756. Note that a session closure above this level could see XRP explore the $0.80 zone. Ripple Price (XRP/USD) Four-Hour Chart Technical Indicators Show that XRP Is Bullish Several technical indicators show that XRP remains bullish. For example, the Parabolic SAR has flipped from positive to negative, the MACD crossed above the signal line and is positioned above the zero line in the positive region, and the golden cross that has just occurred with the 50-day crossing above the 100-day SMA are all bullish crypto signals. On the flip side, the entry of the RSI into the overbought region could indicate a retraction that could see Ripple price retract to seek support at the $0.65 psychological level before making another launch.’ Looking to buy or trade crypto now? Invest at eToro! Buy Bitcoin Now Capital at risk Nancy Lubale Nancy Lubale Crypto Analyst and Technical Writer Nancy is a successful crypto analyst and content writer with many years of writing experience finance and blockchain fields. Nancy has been producing quality content for websites in the cryptocurrency industry including Krptotrends. She is a Certified Cryptocurrency Expert (CCE) from Blockchain Council. View All Post By Nancy Lubale Crypto News share Read Next EUR/USD Forecast: Bullish Wedge Breakout Ahead of Fed’s Verdict Saqib Iqbal 2 years On Monday the Ripple price jumped above the $0.65 psychological level as buying pressure dominated the market. However, bulls soon ran out of steam and retreated to close the day at around $0.622. Before that, XRP dropped from a high of $0.710 to a low of $0.513 between July 4 and July 20. During the downfall, XRP flipped the 50-day and the 100-day SMAs from support to resistance and reversed the parabolic SAR from positive to negative on the daily chart. Ripple and SBI Remit Partnership Bolsters XRP Above the $0.70 Psychological Level Ripple has announced the implementation of its… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.