Ripple has confirmed partnerships with several major financial institutions, including Mastercard and JPMorgan, to enable XRP Ledger payments and tokenized Treasury settlement. This move is expected to boost adoption of XRP, as it will allow for more widespread use of the cryptocurrency in institutional settings.
The daily MACD (Moving Average Convergence Divergence) indicator has crossed bullish for the first time since June, signaling a potential upward trend in XRP's price. Additionally, volume surged 72.62% and open interest rose 10.39% to $2.60B, indicating fresh positioning by investors.
XRP currently trades at $1.0885 on July 20, down 0.77%, but sitting inside a compressing wedge on the daily chart. This technical setup is given fundamental support by Ripple's confirmation of institutional partnerships with Mastercard, JPMorgan, OKX, and Ondo Finance.