- Ripple announces partnership with payment service provider Chipper Cash.
- Collaboration aims to explore Ripple Payments for cross-border transactions in Africa.
- XRP faces rejection near 50-day SMA, dropping 2% amid bearish pressure.
XRP failed to rebound on Thursday, recording a 2% decline despite Ripple's new partnership with mobile payment provider Chipper Cash. The collaboration seeks to leverage Ripple Payments for faster cross-border transfers.
Ripple and Chipper Cash Partner for Efficient African Payments
Ripple, a digital asset infrastructure provider, revealed its partnership with Chipper Cash to streamline cross-border payments into Africa using Ripple Payments. The integration promises faster, cheaper, and 24/7 accessible international remittances.
Reece Merrick, Ripple's GM for Middle East and Africa, stated:
"By embedding our technology into Chipper Cash’s platform, we’re enabling faster, more affordable cross-border payments while driving economic growth in their markets."
Chipper Cash confirmed users would benefit from reduced costs and improved transaction speeds. This follows Ripple’s recent regulatory milestones, including a Dubai Financial Services Authority (DFSA) license to offer crypto payments.
👉 Explore how XRP is transforming global finance
Technical Analysis: XRP at Risk of Further Decline
Key metrics:
- $10.39M in XRP futures liquidations (24h)
- $9.09M** long positions vs. **$1.3M short positions liquidated
XRP tested support at $2.34** after rejection at the 50-day Simple Moving Average (SMA). A breakdown could push prices toward **$1.96, while holding this level may allow a retest of $2.60 resistance.
Indicators:
- RSI and Stochastic Oscillator show bearish momentum below neutral levels.
- Daily close below $1.96** may trigger a drop to **$1.35.
FAQs About Ripple and XRP
What is Ripple’s primary function?
Ripple specializes in blockchain-powered cross-border payments via RippleNet, a network open to global financial institutions.
How does XRP work?
As XRPLedger’s native token, XRP facilitates trustless transactions, helping institutions transfer value internationally with lower costs.
What makes XRPL unique?
Its built-in consensus protocol combats spam/DDOS attacks, maintained by a decentralized P2P network.
Who created XRP?
Developed by Jed McCaleb, Arthur Britto, and David Schwartz as the native asset of XRPLedger.
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