- Trust Wallet announces a crypto-to fiat off-ramp
- MoonPay and Ramp have partnered with Binance, the non-custodial wallet.
- TWT prices rose by 9% after reaching $1.31. The news of selling the stock saw it fall to $1.25 as we write.
Trust Wallet Token TWT (TWT), which is the native token for Trust Wallet, saw its value jump more than 9% and reach $1.31 after the news that a non-custodial crypto wallet provider launched a crypto to-fiat offramp.
Trust Wallet users can seamlessly convert crypto into fiat through the partnership with Web3 payment platform MoonPay and Ramp, a non-custodial fiat to crypto infrastructure provider. The firms stated that users will be able to transact directly within Trust Wallet.
TWT price outlook after Trust Wallet partnership
As noted above, Trust Wallet’s integration with MoonPay and Ramp means users can now enjoy seamless withdrawals when handling crypto-to-fiat transactions. The news of the development, which will see the non-custodial wallet’s users tap into frictionless crypto market transactions, also means full control of the stored funds.
TWT price in the 4-hour chart. Source: TradingView
The positive update added to TWT’s buying pressure, with bulls breaking above $1.30 for the first time since 18 March this year. The 4-hour RSI remains in overbought territory, and has extended, suggesting that a dip could be in the near term.
Potential profit taking could push the TWT/USD below $1.20 support level, but bulls could see new upside momentum and retest resistance at the $1.40 region. Should the wider market turn bullish, it would be possible to move higher than $1.76.
TWT was trading at $1.25 at the time this article was written, and its price has risen by 6% in 24 hours.