XRP Healthcare Africa, a subsidiary of Ripple (XRP) Healthcare, has partnered with FasterCapital, a venture capital firm overseen by respected finance guru Hesham Zreik, to raise capital for the acquisition of private healthcare organizations spanning the African continent. In the midst of these developments, the analyst evaluates the technical picture of XRP.
Ripple collaborated with FasterCapital
According to a recent press release, the partnership will support the financing and procurement of profitable private healthcare organizations in Africa. The collaboration also aims to take advantage of XRP Healthcare’s digital currency, XRPH token, to enable efficient payment transactions within the system.
Recall that XRP Ledger-based Web3 healthcare platform XRP Healthcare previously announced its plans to expand into Africa through acquisitions under its XRP Healthcare Africa subsidiary. The alliance with FasterCapital will help accelerate these acquisition plans. FasterCapital will use its expertise in creating business strategies and fundraising to support XRP Healthcare Africa’s expansion in the private healthcare industry. The company’s expert professionals offer holistic assistance to global entrepreneurs in exchange for a share of the venture’s equity.
FasterCapital hopeful of partnership
Kain Roomes, co-founder of XRP Healthcare, stated that partnering with FasterCapital will help XRP Healthcare Africa rapidly acquire and develop profitable non-public medical facilities such as clinics, hospitals and pharmacies in Africa. The collaboration is expected to revolutionize private healthcare in the region. Hesham Zreik, founder of FasterCapital, expressed his excitement for the alliance as follows:
… Better healthcare provisions and standards are needed for farming countries, especially when it’s all about profit. But if you can combine both, better healthcare and profits, then it’s a win/win for everyone involved.
Zreik believes that the ambitious vision of XRP Healthcare Africa has great potential and that the burgeoning healthcare sector in Africa is not without interested and suitable investors seeking investment opportunities.
XRP Healthcare aims to improve the medical scene
XRP Healthcare is poised to open its decentralized market this quarter and is working with partners from across the healthcare industry to purchase medical equipment and supplies to improve the quality of private healthcare facilities. With the help of FasterCapital, the firm is poised to expand rapidly and play a key role in advancing Africa’s healthcare sector.
The platform continued to forge partnerships to support its long-term goal of building a sustainable network of world-class healthcare facilities to advance the medical industry. The firm recently formed separate partnerships with Signals and United Networks of America.
Is Ripple (XRP) price ready to bounce back?
Crypto analyst Selena evaluates the technical picture of Ripple (XRP). The daily MA 50, at $0.454, acts as a crucial support for the XRP price falling below it as the cryptocurrency market declines. XRP continues to lose money, experiencing losses on both a daily and weekly basis. Not just XRP, but the majority of major cryptocurrencies have seen a noticeable drop on the weekly chart since their most recent local high.
The crypto market suffered losses last week as traders booked profits. At the time of this writing, XRP slumped to $0.4722, down 13% from the previous week and 3% from the previous 24 hours.
XRP 4-hour chart / Source: TradingViewMost traders are watching for signs that indicate whether the current market drop is a buying opportunity or if the trend is turning negative as cryptocurrencies try to recover. On the hourly chart, XRP mistakenly attempted to break above the local support level of $0.4412. Rod closure should be carefully observed. If it happens close to resistance, the increase could rise as high as $0.48.
XRP 1-day chart / Source: TradingViewXRP pulled back from the $0.4412 support after testing it on a longer time frame. If the candle closes without long wicks, there is a chance to witness a local correction, although sellers will continue to be stronger than buyers. This also applies to the days ahead.
XRP 1-week chart / Source: TradingViewOn the weekly chart, the situation is more bearish as the bar approaches the critical level. If that happens, the accumulated energy could be enough for a breakout and an explosion of up to $0.4.
What’s next for XRP price?
At each stage of the ongoing market sell-off, the bulls tried to initiate a reversal in XRP, but the bears were not in the mood to give up. The bulls tried to stop the decline at the critical support level near $0.47, but the bears continued the selling pressure and pushed the price below this level. XRP is currently trading below the important daily MA 50 support at $0.454 as the bears managed to pull the price down. The RSI is rising marginally as the bulls seek another recovery. XRP needs to trade above $0.454 for further gains.
XRP remains likely to trade in the $0.58 resistance and $0.41 support range for a while. A break above $0.58 may be needed to start a fresh rise. Instead, if the dips continue, XRP could drop to the MA 200, around $0.41, where investors are most likely to buy the bottom. In this case, XRP could trade in the high zone above $0.41, while a break below this key level could push it into the lower range.
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