Gemini has plagued plans for an XRP brand Mastercard, which has aroused a new interest within the XRP community. But can this development help to reverse the downward trend of token?
Summary
- Gemini has plagued the launch of an XRP-driven credit card.
- XRP price has remained in a downward trend this month.
- Technical indicators suggest that the sales pressure decreased.
In a August 21 X afterCrypto Exchange Gemini shared an image of a billboard in New York with an XRP brand Mastercard. The advertisement showed the date “8.25.25”, probably the launch date for the map, and also named Webbank as the issue partner.
“Prepare your bags,” wrote the exchange next to the image.
Although neither Gemini nor Ripple has released more details about how the map will function as Van Pewijd, the post had more than 1.7 million views, 3,100 reposts and more than 10,000 likes, reflected as a result of the hype about the development within the XRP community.
The announcement comes at a time when the price of XRP is struggling. In particular, the 3rd largest cryptocurrency per market hood has fallen 14.7% in the past week and 22% compared to the annual high.
It is typical of a cryptocurrency to organize a strong meeting after an announcement with a global payment giant such as Mastercard. One such copy was observed at the end of 2023, when Solana (SOL) jumped with more than 20% after Visa had announced that it would expand its Stablecoin pilot on the Solana Blockchain.
On the other hand, the launch of the MasterCard XRP card can also drive a reaction “Sell the News” if traders in the news prior to the launch.
At the time of the press, the price promotion of XRP (XRP) was filled in, with the day of the day 1.2% falling.
XRP -Price analysis
In the daily graph, XRP has been traded in a range between $ 2.70 and $ 3.30 since the end of July.
If the token drops to $ 2.70 and returns from that level, it can form a double bottom – a common turning pattern in technical analysis that often signals the end of a downtrend.
The average directional index, which measures the strength of a trend, has fallen to 22. A lecture under 25 indicates that the current trend for an active weaker. In the case of XRP, this supports the argument for a possible reversal.
The relative power index of XRP is also approaching over -sold territory, which is another sign that the Neerwaartse Momentum can be close to exhaustion.
Based on the above technicals, if XRP recovers from $ 2.74, the following upward target is $ 3.34.
On the contrary, if XRP drops below $ 2.74, it could fall further to $ 1.90, a support level that has been kept stable since June.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
