Will XRP price rally on Gemini XRP Mastercard launch?

Gemini has teased plans for an XRP brand mastercard, which has aroused new interest in the XRP community. But can this development help to reverse the downward trend of the token?

In a August 21 x jobCrypto exchange Gemini shared an image of a display panel in New York which presented an XRP brand Mastercard. The announcement displayed the date “8.25.25”, probably the launch date of the card, and also appointed Webbank as a issuing partner.

“Prepare your bags,” wrote the exchange alongside the image.

Although neither Gemini nor Ripple published no more details on the operation of the card at the time of the press, the post had attracted more than 1.7 million views, 3,100 republication and more than 10,000 likes, reflecting media threshing on the development of the XRP community.

The announcement comes at a time when the price of XRP is struggling. In particular, the third largest cryptocurrency by market capitalization dropped by 14.7% in last week and 22% compared to its annual summit.

It is typical of a cryptocurrency to stage a strong gathering after an announcement with a global giant of payments such as Mastercard. One of these cases was observed at the end of 2023, when Solana (GROUND) jumped more than 20% after the visa announcement He would broaden his stablecoin settlement pilot on the Solana blockchain.

On the other hand, the launch of the Mastercard XRP card could also trigger a “Sell news” reaction if the price traders in the news before the launch.

At the time of the press, XRP (Xrp) The price action was silent, the token down 1.2% during the day.

XRP price analysis

On the daily graphic, XRP has been negotiated between $ 2.70 and $ 3.30 since the end of July.

If the token drops to $ 2.70 and bounces from this level, it could form a double background – a model of common inversion in the technical analysis which often signals the end of a downward trend.

The average directional index, which measures the strength of a trend, has dropped to 22. A reading less than 25 indicates that the continuous trend of an asset is weakening. In the case of XRP, this supports the argument for a potential reversal.

XRP’s relative force index also approaches the territory of occurrence, which is another sign that the momentum can be close to exhaustion.

Based on the above techniques, if XRP rebounds from $ 2.74, the next rise in the upwards is $ 3.34.

On the contrary, if XRP drops less than $ 2.74, it could fall more to $ 1.90, a level of support that has been stable since June.