• Trust Wallet announced a crypto-to-fiat off-ramp by partnering with MoonPay and Ramp.
• The news saw TWT price jump 9% to reach above $1.31 before dropping to $1.25 as of writing.
• The new partnerships will allow users to convert crypto to fiat without using a centralized exchange and with full control of their funds.
Trust Wallet Partners MoonPay and Ramp
Trust Wallet has announced a crypto-to-fiat off-ramp through its partnership with Web3 payments platform MoonPay and non-custodial fiat-to-crypto infrastructure provider Ramp. This will allow users to seamlessly convert crypto to fiat without having to go through a centralized exchange and with full control of their stored funds.
TWT Price Jumps 9% After News
The news of the development saw TWT price jump more than 9% to hit $1.31 before selling saw it drop back down to $1.25 as of writing. Bulls were able break above the $1.30 mark for the first time since 18 March this year, however, the 4-hour RSI is firmly in overbought territory suggesting potential profit taking could push TWT/USD lower in the short term.
TWT Price Outlook After Partnership
The Trust Wallet partnerships open up possibilities for seamless withdrawals when handling crypto-to-fiat transactions and new upside momentum could see bulls on track retesting resistance around the $1.40 area or higher should the broader market flip bullish again. A move to $1.76 or higher would also be possible under these conditions, however, immediate support levels below $1.20 may be tested should profits be taken from current heights firstly .
Advantages Of The Off Ramp
The integration with MoonPay and Ramp mean users can now enjoy seamless withdrawals when handling crypto-to-fiat transactions as well as full control of their stored funds when transacting directly from within the Trust Wallet app .
Conclusion
Trust wallet’s partnership with MoonPay and Ramp provides an efficient way for users to convert crypto into fiat while ensuring they retain control over their assets at all times . This update has seen TWT price jump significantly but further gains may depend on whether bullish sentiment is maintained in the wider market or not .