Gemini Teases Upcoming XRP Mastercard, Awaiting Launch Date
Crypto exchange Gemini has unveiled plans for an XRP-branded Mastercard, generating buzz among XRP enthusiasts. An image of a New York billboard featuring the upcoming card dates it for August 25th. WebBank will issue the card alongside Gemini.
On their X platform, Gemini posted cryptically: “Prepare your bags.” The post quickly gained traction, accumulating 1.7 million views and thousands of interactions. Despite the excitement,Gemini and Ripple remain tight-lipped about the card’s features.
The proclamation arrives during challenging times for XRP. Prices are down by nearly a quarter as its peak this year and fell by almost 15% last week alone, reflecting ongoing downward pressure.
- XRP needs a boost; could the Mastercard fulfill this role?
- Examples like Solana saw significant growth following similar partnerships.
- However, some traders might pre-emptively sell in anticipation of the launch.
Technical outlook: XRP trades within a $2.70-$3.30 range on daily charts. If prices rebound from $2.70, a double bottom formation might signal a trend reversal.
Key technical indicators suggest weakening selling pressure; the average Directional Index sits below 25, indicating the trend’s strength is fading.
If XRP bounces off $2.74, targeting $3.34 follows. However, a dip below this threshold may trigger a deeper decline towards $1.90.
