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XRP Price Still Looks Bearish, But This Ripple Visa Rumor Might Change It

Jake Simmons
Jake Simmons
2 years ago
3 mins read
Ripple XRP

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Despite its 17.3% year-to-date (YTD) increase, the XRP price remains in bearish territory. In the past two weeks, XRP failed to break the 200-day Exponential Moving Average (EMA) in several attempts.

At press time, XRP was trading at $0.3970 and found support at the 50- and 100-day EMAs. However, to trigger a bullish momentum, it requires a break of the 200-day EMA, which is currently at $0.4147. The indicator shows the long-term trend, and a breach of this level could spark a bullish move.

Meanwhile, the upside crossing of the 50-day EMA by the 200-day EMA should also be watched. Currently, the 50-day EMA is approaching the 200-day EMA, and the upward crossover, also known as a golden cross, could also establish a new uptrend.

If this happens, the main bastion of the bears could then be the resistance zone at $0.54. If the bulls manage to break through the level, XRP will climb to a 9-month high, a level that XRP investors haven’t seen since the Terra Luna collapse.

Ripple XRP USD
XRP price remains bearish, 1-day chart | Source: XRPUSD on TradingView.com

XRP To Rise On This Rumor?

Fuel for an XRP rally could come from a new rumor within the XRP community. A pseudonymous XRP influencer claims that global payments giant Visa is secretly working with Ripple.

In a video posted on Twitter, he explains that Visa has teamed up with at least four Ripple partners in recent years, either as part of a partnership or a full acquisition. These are Earthport, Dee Money, CurrencyCloud and Novatti.

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XRP Price Prediction: Uptrend Remains Intact Above $0.38

1 year ago

Back in 2014, Ripple Labs and Earthport announced a global partnership. In December 2018 Visa made the acquisition of Earthport for $250 million, facing a battle with Mastercard in the acquisition.

The second company Visa acquired after Ripple partnered with it is CurrencyCloud. The company announced a partnership with Ripple in July 2020 to process cross-border payments through RippleNet. A year and a half later, in December 2021, Visa acquired CurrencyCloud.

The partners that both Ripple and Visa are working with are Novatti, a long-time partner of Ripple, and DeeMoney. The latter partnered with Ripple in March 2018 to enable faster and cheaper cross-border payments.

In December 2022, DeeMoney and Visa agreed to a partnership to enable near real-time cross-border payments and send Thai baht to over 170 countries.

Novatti has been using the XRP-based On-Demand Liquidity (ODL) solution since April 2021 to enhance Australian remittance payments to Southeast Asia. Back in September 2020, Novatti introduced a new payment platform for earmarked Visa cards.

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XRP Bulls Try To Break Consolidation At $0.4 To Conquer New Levels

1 year ago

The influencer sees these connections as proof that Ripple and Visa are secretly working together. “Ripple goes in, Visa acquires it. Why? Because it’s the foundation. They’re going to create revenue from this,” the influencer concludes.

However, it is important to note that this is just speculation. Both Earthport and CurrencyCloud are no longer listed as partners on Ripple’s website.

Furthermore, these partnerships and acquisitions are usually about expanding the reach of Visa’s proprietary payment solutions – neither Ripple nor XRP were mentioned in the official press releases.

Therefore, it is difficult to claim that Visa is secretly collaborating with Ripple. Still, these are interesting connections that may play a role in the future.

Featured image from iStock, Chart from TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

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His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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