- Ripple has partnered with Chipper Cash to enhance cross-border payments in Africa using blockchain technology.
- XRP remains stable at $2.35 despite the announcement, with analysts watching key support and resistance levels.
Ripple has collaborated with Chipper Cash, a leading payments firm in Africa, to boost the efficiency of cross-border payments on the continent. The partnership enables Chipper Cash’s five million users in nine African countries to receive funds faster and at a lower price through Ripple Payments.
The integration offers 24/7 availability for cross-border transactions, removing friction and increasing financial inclusion for businesses and individuals across Africa.
The move is within Ripple’s broader strategy to expand its presence in Africa, where blockchain technology is being adopted in the financial sector.
Ripple’s digital asset infrastructure is focused on making cross-border money transfers easier through the use of blockchain for real-time transaction processing. Ripple is already present in Africa after a previous partnership with Onafriq in 2023.
Ripple Managing Director for the Middle East and Africa, Reece Merrick, emphasized the importance of this partnership in advancing financial innovation in the region. Merrick said,
Our partnership with Chipper Cash marks a key milestone in the expansion of Ripple’s business in Africa. Consumers and businesses across the continent are increasingly recognizing the potential of blockchain technology, and we are excited to bring our crypto-enabled payments solution to our partners in the region.
With over 60 regulatory licenses and more than $70 billion in transaction volume processed, Ripple aims to position itself as a key player in Africa’s evolving payments ecosystem.
XRP Price Holds Steady Despite Ripple Partnership News
Despite the news, XRP’s price has not moved significantly. Trading at $2.35 at the moment, the digital currency has been strong, with $2 acting as a major support area. Traders are, however, closely watching crucial price levels that will determine the next major move.
Veteran trader Peter Brandt pointed out that XRP is forming a head and shoulders pattern, which could be an indication of impending volatility.
He noted that if the price exceeds $3.00, it can trigger a bullish breakout, and a drop below $1.90 can lead to additional downside. He also suggested that the trend can head towards $1.07 if bearish pressure gains momentum.
However, XRP is displaying bullish momentum as it consolidates in the $2.45 region. The cryptocurrency is trading higher above key moving averages with volume supporting the present market structure.
Technical indicators such as the RSI of 65.22 show that there is still room for movement to the upside before the asset is considered overbought.
Technical Analysis Suggests Key Levels to Watch
XRP’s present setup is indicative of a sound market structure, with coiling of price between the close-by support of $2.42 and resistance of $2.48.
MACD converging near zero suggests momentum is building, while ADX of 28.6 is characteristic of a trending market. Bollinger Bands remain tight at 6.55%, suggesting a potential volatility expansion in the near term.
Traders are monitoring specific levels for trade setups. A move above $2.48 could take it on a run to $2.58, with a further push to $2.63 if buyers continue to apply pressure. On the downside, a move below $2.42 could take XRP to $2.36, so this is an important support zone to monitor.
Traders are advised to wait for volume confirmation before entering trades. Conservative traders may prefer to wait for a pullback to retest the $2.44 pivot before entering positions. With moderate volatility and a 5/10 risk rating, XRP is still consolidating, waiting to break out either way.