- Ripple pays MoneyGram another $11M to use its product
- XRP Price is trading downward and it remains exposed to a decline beneath $0.24
- XRP Price moves downwards into the bearish zone
- Prospect of further losses?
Ripple News Update – According to regulatory filings with Securities and Exchange Commission (SEC), it was reported that in the past half-year, Ripple has given prominent Remittance Firm MoneyGram over $11 million. The funds are shared between two quarters, $2.4 million in Q3 and an added $8.9 million in Q4, making it an overall of $11.3 million.
Ripple News Update – Though the new filings do not state what the $11 million is for, MoneyGram’s Q3 filing three months ago stated that its agreement with Ripple “allows MoneyGram to utilize Ripple’s On-Demand Liquidity blockchain product (formerly known as xRapid)” and XRP to ease cross-border transactions.
XRP Price is trading downward and it remains exposed to a decline beneath $0.24
XRP News Now – XRP price is trading near the $0.2400 support level, beneath which there could be another price decline. There was a break beneath a key declining channel with support close to $0.2470 on the hourly chart of the XRP/USD pair. Ripple Price Prediction 2020 – XRP price is indicating bearish momentum and it could persist to move downward beneath $0.2400.
Ripple XRP Price moves downwards into the bearish zone
XRP 2020 – After XRP price settled beneath the $0.2700 level, the XRP bears overpowered the bulls. Thus, XRP price commenced a major decline and traded beneath many support levels close to $0.2600 to drive into the bearish zone. Also, there was a break beneath the $0.2500 support level and the 100 hourly simple moving average.
XRP (XRP) Price Today – XRP / USD
XRP Price Prediction 2020 – The XRP/USD pair even dashed beneath the $0.2400 support level. A fresh weekly low is established close to $0.2345 and the XRP price is currently correcting higher. XRP 2020 – XRP price is trading above the $23.6% Fib retracement level of the recent decline from the $0.2588 high to $0.2345 low. XRP News Now – Hence, the XRP bulls need to drive the price above the $0.2465 and $0.2500 levels to commence a decent recovery. XRP 2020 – The next major resistance is close to $0.2700 level and 100 hourly simple moving average.
Prospect of further losses?
XRP Price Prediction 2020 – If XRP fails to correct above the $0.2450 and $0.2465 resistance levels, it could persist to drive downwards. Early support is close to the $0.2380 and $0.2365 level. A positive break and close beneath the $0.2345 swing low might ignite further decline. XRP News Now – If this happens, the XRP price could decline massively and trade towards the $0.2200 support level in the near term.