Ripple Latest News – Top Headline for Ripple XRP, February 17th, 2020

XRP2
  • MoneyGram discloses utilizing Real-Time Remittance Tech built on Visa rather than Ripple
  • Ripple XRP Price plunges beneath $0.30 level

Ripple News Update – Prominent remittance giant MoneyGram declared a new service that allows customers to send real-time money, surprisingly, its solution blockchain partner Ripple is not utilized for this purpose. According to MoneyGram, the new service is termed FastSend. It is a service that allows its customers to transfer money in real-time to a designated phone number through a reserved website or mobile application.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.176
1.60%

Ripple Latest Update – going by the official statement from MoneyGram’s Chief Operating Officer, Kamila Chytil, she stated that blockchain is not required for real-time settlement. She added that FastSend utilizes Visa’s Direct Original Credit Transaction to transfer money to bank accounts via a Debit card deposit. Although DLT is not involved, the devoted website and mobile application utilize an open-source cloud-based microservices. Also, Chytil stated that MoneyGram is also assessing other use cases “where blockchain could help solve data privacy and regulatory obligations through distributed ledger technology.”

Ripple XRP Price plunges beneath $0.30 level

XRP USD TradingView – Against the U.S dollar, XRP price declined massively from above $0.3200, it went as far as $0.3000 and it could persist to move downwards in the near term. Currently, XRP price is correcting losses after trading as low as $0.2677. There is two merging bearish trend line establishing with resistance close to $0.2950 and $0.3000 on the hourly chart of the XRP/USD pair.

XRP TradingView – In the previous 3-4 sessions, XRP price encountered a surge in selling pressure beneath $0.3200, due to this, XRP price declined massively beneath the $0.050 and $0.3000 support levels. Also, there was a close beneath the $0.3000 support level and the 100 hourly simple moving average. XRP price is currently down by over 10% and it traded as low as $0.2677. Recently, there was a slight upside correction above the $0.2800 level.

XRP Price Prediction 2020 – Moreover, XRP price recovered above the 23.6% Fib Retracement level of the fresh decline from the $0.3194 high to $0.2677 low. Also, XRP is encountering several resistances on the upside close to $0.2940 and $0.2950. The 50% Fib Retracement level of the new decline from the $0.3194 high to $0.2677 low is also serving as a resistance for the XRP bulls. Hence, the XRP bulls need to gain momentum above the $0.2950 and $0.3000 resistance levels to drive the XRP price back into a bullish zone.

XRP Price Prediction 2020 – Ripple XRP Price Prediction 2020

XRP Price Update – If the XRP bulls fail to gain impetus above $0.2950 level, there is a risk of additional losses. The first major support level is close to the $0.2800 level. If there is a clear break beneath the $0.2800 and $0.2780 level, the XRP bears might target a fresh weekly low beneath $0.2670. If the XRP bulls succeed and XRP price settles above $0.3000, there could be a new surge to its price.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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