Ripple expands its influence into Japan: partnering with HashKey DX.

Ripple expands its influence into Japan: partnering with HashKey DX.

Ripple has announced a partnership with Tokyo-based Hashkey DX to launch the XRP Ledger in Japan. XRP holders are reacting to the news of Ripple’s foray into the Japanese market and also the SEC reaction on April 29th. XRP price hovered around the key support at $0.50 early on Wednesday. In the last ten days, the price has fallen by almost 6%, but is in a confirmed downward trend and has lost all gains since February. The partnership with HashKey DX aims to bring XRP Ledger-based enterprise solutions to the Japanese market. The collaboration between Ripple, HashKey Group, and SBI Ripple Asia will enable SBI Group companies to be the first to use supply chain finance in the market. Ripple is thus placing a clear focus on the expansion of the XRP ledger into the Japanese market.

Technical analysis shows that Ripple hovered around the support at $0.50 on Wednesday, and momentum was recorded on the RSI at 39.40, indicating a possible oversold situation. The MACD indicator is showing red histogram bars on the weekly and 4-hour charts below the neutral line. Ripple's recent developments and partnerships suggest further downside, with XRP potentially finding support at $0.4665. A daily candle closing above $0.50 could refute the current bearish thesis, and the next resistance for XRP is at $0.5314, which coincides with the 50% Fibonacci retracement of the decline from the April 9 high to the April 13 low.