XRP saved by new contract and moving up again

Ripple announced on Thursday a tie-up with Dallas-based money transfer giant MoneyGram. The move is significant because the arrangement involves the use of XRP, Ripple’s digital currency, which has recently soared in value but also faced questions about its practical uses. The partnership will see MoneyGram pilot the use of XRP through a new Ripple service, called xRapid, designed to provide liquidity to financial institutions.
The news came right on time as XRP had trouble finding bottom. It touched low at $1.59 on 1H chart, tested twice the support on $1.8 and its now moving to next resistance at $2.45. It looks like XRP found support on this level. If it fails to sustain growth, a fall under previous low ($1.59) would most probably take us to $1. I don't see that coming and I think we will move forward from here. There was a lot of noise on the market concerning XRP and probably a lot of bears already sold positions. A couple of good news could trigger XRP to new highs.

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Whole cryotocurrency market is in correction, XRP is down on support level at $1.58. Its the 3th time testing of the same support, a move below this would take price to $1.23. On the upper side, we need to get over $1.80 to get back to bullish mode.