Is Swipe (SXP) buy opportunity after the current dip?

Swipe SXP/USD has weakened from $2.37  to $1.05 since January 02, 2022, and the current price stands at $1.25.

Swipe makes issuing crypto powered debits cards simple

Swipe is a platform that enables businesses to create, manage, and distribute branded virtual and physical cards for users.

Businesses can issue a virtual card instantly and simply with a full suite of controls such as PIN controls, enabling foreign transactions, reissuing lost cards, locking the card, MCC restrictions, and more.

Businesses can also customize what they want their users to have access to on-demand, and it is important to say that Swipe partners with major payment networks.

Potential clients only have to contact banking partners to get all the access they need to launch your program from beta to live.

Swipe manages all the regulatory responsibilities, and users are able to tokenize their cards and have access to Samsung Pay, Google Pay, and Apple Pay.

Swipe also handles all identity verification requirements per region, all bundled to you with a single API call while its solutions power the world’s largest cryptocurrency exchanges with a robust API.

SXP is a token that powers the Swipe, it runs on the Ethereum network, and it can be used by all kinds of organizations, from businesses to non-profit organizations, as a payment option.

Agility, customer satisfaction, and transparency are the main characteristics of this platform, and according to the latest news, the Solar Network, which is the Layer 1 blockchain for the SXP cryptocurrency, is preparing the launch for the main network. The team of Solar Network reported:

SXP will now be rebranded from “Swipe” to “SXP” a move following BNB to ensure SXP is a standalone decentralized digital asset. To prepare for the upcoming chain merges of Binance Chain and Ethereum for SXP, the total and circulating supplies will be updated to include both figures combined, which will represent the data on the Solar Network.

Swipe is a very promising project, and the price of SXP could advance again at levels that we saw in the last years.

This will certainly not happen in the upcoming weeks or even months; still, traders should keep in mind that if the price of Bitcoin falls below the $35000 support, that will negatively influence Swipe (SXP).

SXP remains in a bear market

Technically looking, SXP remains in a bear market, and if you decide to buy this cryptocurrency in February 2022, you should use a “stop-loss” order because the risk remains high.

Data source: tradingview.com

The current support level stands at $1, and if the price falls below it, the next price target could be around $0.80 or even below.

The important resistance level stands at $2, and if the price jumps above this level, it would be a “buy” signal, and we have the open way to the $3.

Summary

Swipe (SXP) was a bad performer during the last several months and for now, bears control the price action. The uncertainty of potential outcomes between Ukraine and Russia continues to worry investors, and in such conditions, risk-on assets tend to suffer because investors look for safer places to invest their money.

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