Ripple Price Analysis: XRP Could Dip and Rip Above $0.3200

Ripple price spiked above the $0.3210 level recently and later dipped below $0.3150 against the US dollar.
There is a declining channel in place with support at $0.3130 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could dip below the $0.3130 support before it may bounce back above $0.3160 and $0.3200.

Ripple price is slowly retreating from recent highs against the US Dollar and Bitcoin. XRP/USD is likely forming a dip and rip scenario with supports near the $0.3120 and $0.3110 levels.
Ripple Price Analysis
Yesterday, we saw a sharp bullish reaction from the $0.3050 support area in ripple price against the US Dollar. The XRP/USD pair gained pace above $0.3120 and $0.3160 to move into a positive zone. It even spiked above the $0.3200 level and the 100 hourly simple moving average. However, the price struggled to hold gains above $0.3220 and later declined. The price also failed near the 61.8% Fib retracement level of the last decline from the $0.3345 high to $0.3047 low. It dipped below the $0.3200 and $0.3180 levels to start a downside correction.
During the recent decline, the price moved below the $0.3150 level and the 100 hourly SMA. Besides, there was a break below the 50% Fib retracement level of the last wave from the $0.3047 low to $0.3231 high. At the outset, there is a declining channel in place with support at $0.3130 on the hourly chart of the XRP/USD pair. The current price action suggests that the price could dip below the $0.3130 and $0.3120 levels. Having said that, the price is likely to find bids near the $0.3100 for a fresh upward move.

Looking at the chart, ripple price is likely forming a replica of the recent declining channel with resistance at $0.3175. Therefore, there are high chances of a downside spike below $0.3120 before the price climbs higher once again.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is about to move back in the bullish zone, with positive signs.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently flat below the 50 level.
Major Support Level – $0.3100
Major Resistance Level – $0.3200
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Ripple/XRP: “XRP is definitely coiling up”, says prominent trader and charting expert

Peter Brandt, the author of “Diary of a Professional and Commodity Trader” and a well-known trader tweeted the charts of Steller Lumens [XLM] and XRP on January 21, 2019.
Brandt tweeted the technical analysis chart of Stellar Lumens and set the first target as $0.0653 and the next one at $0.00150 and said “so basically worthless. Sorry.”
Source: @PeterLbrandt
A user, @BrandonVanB replied to Brandt’s tweet:
“@PeterLBrandt do you have any insight into XRP (Ripple). The fundamentals look amazing.”
Peter Brandt replied to @BrandonVanB with another technical analysis chart saying: “XRP is definitely coiling up”
Source: @PeterLbrandt
“Coiling Up” is a technical term used to signify a market which has the potential to make a strong move in one direction after being pushed in the opposite direction or held flat. The idea is that if a market should be headed in one direction due to its fundamentals but has pressure in the opposite direction, it will eventually make a strong move in the course of the original fundamental direction.
Moreover, the coiled move will be more significant and substantial than the move if it would have continued in the normal direction without interference.
Brandt’s tweet doesn’t necessarily mean that the movement of price will move upwards, it could go either way. In addition to the technicals, Ripple is on a crusade with a slew of partnerships with various institutions around the world.
Ripple has over 200+ partnerships which are spread over 40 countries and each one of them is using Ripple’s blockchain solutions, be it xRapid, xCurrent, or xVia.
Brandt’s tweet faced a lot of commotion in the community as Brandt had said that “XRP will replace NO portion of global forex trading volume” in August 2017.
@CarpeNoctom replied to Brandt’s tweet saying:
“Almost every crypto chart looks like that
So I guess everything is worthless soon
Sorry not sorry”
Another Twitter user, @OSD728 commented:
“If the prices of xlm do go that low I will definitely buy more not saying I want it to but still that’s a good entry point”
Peter Brandt is well-known for his prediction of the 2018 crash of cryptocurrencies and for his accurate predictions when it comes to technical analysis or charting.
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Source: AMB Crypto

Ripple Price Analysis: XRP Steady, Inroads to Mainland China

Ripple price stagnant but net bullish
Chinese University partners with Ripple
Average volumes low but projected to rise as XRP demand increase

There is progress from the fundamental side of the equation. Prices are stable but on a bullish path while Ripple continues to partner with universities. From the chart, XRP stands to retest 40 cents and even 60 cents by mid-Feb 2019.
Ripple Price Analysis
Fundamentals
Cryptocurrencies and initial coin offering may be illegal in China. However, that is not stopping Ripple, the company behind the cryptocurrency, XRP, from partnering with the Institute for Fintech Research, Tsinghua University (THUIFR). Their collaboration has yielded a new program: The Blockchain Technology Research Scholarship Program (BRSP).

We are excited to announce that partnering with @Ripple, we launched Blockchain Technology Research Scholarship Program (BRSP) in 2019 ! pic.twitter.com/kImc5p2d4h
— Tsinghua University Institute for Fintech Research (@THIFR3) January 23, 2019

With regulatory headwinds, the expansion and adoption is slow and made worse by dropping asset prices. Now part of the program’s objective will be for guidance, funding in-depth research on Fintech as well as contributing and development of favorable policies. The end game is to promote use of blockchain and related applications as cryptocurrencies.
The Senior Vice President of Global Operations at Ripple, Eric van Miltenburg, said:
“The program’s goal – to provide students with opportunities in blockchain research – closely aligns with that of Ripple’s University Blockchain Research Initiative; we’re thrilled to support THUIFR in this endeavor and look forward to its launch.”
Candlestick Arrangement

At the time of press, XRP is stable, but the ETH gap continues to widen—now at $700 million. Overly, this is bullish and to restate: XRP is technically bullish against the greenback as long as prices are rallying towards 34 cents. The 30 cents mark continues to shore prices.
As we have said, all the Fibonacci retracement levels are psychological and are proven reaction points. It was confirmed yesterday when prices reacted at the 78.6 percent mark. Because of deep corrections from Dec highs, the farthest XRP can retest is Dec highs at 40-42 cents. With this guidance, bulls should be on the sidelines only planning to initiate longs once prices rally past 34 cents—the 50 percent mark—preferably with high transaction volumes helping bulls recoup losses of Jan 20.
Technical Indicators
Despite favorable fundamentals and candlestick arrangements, transactional volumes are low with dropping averages. Even so, there is a chance that increasing demand will lift these averages from 18 million to above 83million registered on Jan 10. Because we are net bullish, XRP stands to soar from spot rates to 60 cents by mid-Feb 2019.
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Ripple/XRP: R3 and ING get into a partnership for large scale Corda Enterprise adoption

R3 has finalized a partnership with ING bank which will open ING to an unlimited number of licenses for R3’s commercial blockchain platform, Corda Enterprise.
The partnership deal between R3 and ING is for a span of five years which encourages adoption of CorDapps across a wide range of business functions.
Annerie Vreugdenhil, Head of Innovation for wholesale banking at ING, said:
“Our longstanding joint journey with R3 has proven that this is the most mature enterprise DLT solution to serve the needs of the financial service industry… We are one step closer to deploying live DLT solutions for our clients with the supported infrastructure in place.”
The CEO of R3, David E. Rutter said that ING bank has been a valuable and long-term partner of R3’s and that they have been an enthusiastic adopter of the blockchain. He said:
“As ING takes full advantage of access to Corda Enterprise, we look forward to seeing how the diverse CorDapp ecosystem can deliver gains in productivity, efficiency and profitability across the bank’s diverse business areas.”
R3 is an enterprise blockchain software firm with over 300 partnerships in both private and public sectors which are spread all across the world in multiple sectors like the finance, identity, insurance, and capital markets.
Moreover, R3 recently launched the “Corda Network” on January 16, 2019, which would be managed by a not-for-profit foundation, “Corda Network Foundation”. The foundation will operate independently of R3 and its decision making will be transparent and available to all networks.
Corda Network allows settlement of funds and transfer of data between communities of nodes which could be a collection of business networks and/or private networks which can be done via the CorDapps.
Furthermore, Corda Settler can settle payment obligations arising on Corda with XRP, which is integrated with the Corda settler. Moreover, Corda Enterprise offers additional features targeted at the needs of large and complex organizations, such as the world’s only Blockchain Application Firewall, 24/7 support, dedicated product management and support for industry-standard enterprise databases.
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Source: AMB Crypto

Ripple Price Analysis: XRP “Hostile Takeover” Rumor Quashed

Ripple price strong supports from around 30 cents
Valor Foundation plans of hard forking the Ripple Ledger
XRP demand grows in lower time frames, volumes rise

Even though Jan 20 sellers did wipe out strides, XRP did find support at around 30 cents. With all-around bullish fundamentals, it is likely that bulls will rally and break above 40 cents in the near term.
Ripple Price Analysis
Fundamentals
If the XRP Hostile takeover rumor is even remotely close to the truth, then XRP bag holders should be ready for a blood bath. Hostile takeovers are rare in traditional markets, and a forceful change of management is simple: the acquirer–in our case Vishal Harpalani’s Valor Foundation—identifies an unwilling target company—the “victim” ,in this case, Ripple Labs official issuers of XRP.
Their tactic: raise “tens of millions of dollars,” trigger a price collapse via debt instrument and later hard fork the Ripple ledger. Note that, this move can flop and as a $14-billion-dollar Silicon Valley behemoth, weaned off VC funds and controlled by a determined company, Ripple, ready to defend its turf, we doubt if this can happen.
Exuding confidence, Brad had this to say:

.@danprimack wants to sell some snake oil… any buyers out there!? Media have a responsibility to help the industry understand what’s hype vs. substance, not to propagate blatant attempts at market manipulation. When will media coverage of this industry mature? https://t.co/QzZ3MxoyNR
— Brad Garlinghouse (@bgarlinghouse) January 15, 2019

To defend their publication, the editor at Axios said:

I’m not selling anything to anyone Brad, and you know that. I have zero financial interests in anything crypto. reported on something and clearly said that it is unlikely to work. If it’s about market manipulation, then it was a lousy attempt as xrp is down a whopping penny today
— Dan Primack (@danprimack) January 15, 2019

However, should Valor Foundation raise enough funds and cause an XRP death spiral, their success would help strengthen their overall objective of building a reliable digital payment system tailor-made for those who can’t access banking or other financial services mostly in developing economies.
Candlestick Arrangements

Like BTC, XRP is rejecting sell pressure, and after initial accumulation, demand is increasing in lower time frames. Upswings like this cement our previous position, validating our XRP/USD trade plan. Although we expect prices to rally—now that we have a bullish pin bar near our main support at 40 cents, we recommend maintaining a neutral position. That’s until after there is a clear break above the 50 percent Fibonacci retracement level. The level is the 34 cents mark based off Dec 2018 high low. 34 Cents is significant because the  level meshes with Jan 14 highs.
Once prices rally above 34 cents, risk off traders can initiate longs on pullbacks with first targets at 40 cents. From there on, risk-averse traders can buy at spot rates with modest targets at Dec 2018 highs of 60 cents.
Technical Indicators
Guiding our short-term trade plan is level of market participation. A stand out in recent days is Jan 10 bear bar printing in a predominantly bullish market. We have reiterated this stating that for bulls to be in the driving seat then trade volumes must spike above recent averages of around 17 million and exceed Jan 10 trade volumes of 83 million. No doubt, such rallies will lift prices from spot levels to above 40 cents. In turn, this will lay the foundation for further gains towards $1.
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Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

CoinSpeaker

Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

Ripple recently partnered with the Institute for Fintech Research, Tsinghua University to offer scholarships. They aim to sensitize the Chinese young leaders about blockchain’s international regulations.

Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

Continue reading at Coinspeaker
Source: CoinSpeaker

XRP/USD Technical Analysis: Signs of a small bull run imminent in the shorter time-frame

XRP, the second-largest cryptocurrency in the world, still holds its position with a market cap of $13 billion and 24-hour trading volume at $370 million.
Most of the trade volume for XRP comes from ZB.COM exchange via trade pair XRP/BTC. The price of XRP is at
$0.32, however, is on a slight rise today.
1-hour
Source: TradingView
The uptrend for XRP in the one-hour time frame has vanished into thin air, while the downtrend strengthens as it extends from $0.3860 to $0.3247. The support at $0.3205 was breached January 20, 2019, at 12:00 UTC. The prices have resurfaced after a brief dip. The resistance at $0.3426 and $0.3806 are holding steady.
The Parabolic SAR indicator shows a positive trend for XRP as it is seen placed below the price candles in the charts.
The MACD indicator shows a bullish crossover, which started at 22:00 UTC and is close to crossing over to the top of the zero-line.
The Awesome Oscillator also shows decreasing green bars that have spawned and are at the verge of crossing over to the top of the zero-line, indicating a bullish crossover.
1-day
Source: TradingView
XRP’s trend lines in the one-day chart show a similar trend where the uptrend has not gained significant momentum yet. The uptrend extends from $0.2931 to $0.3215. The downtrend ranges from $0.9027 to $0.3754. In this timeframe, XRP being supported at $0.2627, while resistance lines are still holding strong at $0.5821, $0.6899, and $0.9027.
The Aroon indicator shows a downtrend that has gained excessive momentum, while the uptrend is failing to neutralize it.
Chaikin Money Flow, as seen in the chart above, has crashed and burned, indicating that the larger timeframe for the coin is in the bear’s territory.
The RSI shows a similar construct for XRP as the momentum of sellers is increasing, while the buyers are shying away from them.
Conclusion
The one-hour shows a bullish trend for XRP’s prices, as all the indicators [SAR, MACD, and AO] show that bulls’ are taking the prices on a rally. The longer timeframe for XRP shows a slight bear trend as the indicators Aroon, CMF, and RSI all indicate a downtrend.
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Source: AMB Crypto

Ripple Price Analysis: XRP’s Recovery Could Face Major Hurdles

Ripple price traded towards the $0.3100 level recently and later started a correction against the US dollar.
There was a break above a connecting bearish trend line with resistance at $0.3180 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is currently following an ascending channel with support at $0.3160 on the same chart.

Ripple price is slowly recovering against the US Dollar and Bitcoin. However, XRP/USD is likely to face a lot of hurdles on the upside near the $0.3220 and $0.3250 levels.
Ripple Price Analysis
Yesterday, there was a sharp decline in ripple price below $0.3300 similar to Ethereum and bitcoin against the US Dollar. The XRP/USD pair even broke the $0.3200 support and settled below the 100 hourly simple moving average. It traded close to the $0.3100 level and formed a low at $0.3102. Later, the price started a short term upside correction and traded above $0.3150 and $0.3160. Buyers pushed the price above the 23.6% Fib retracement level of the recent slide from the $0.3350 high to $0.3100 low.
Moreover, there was a break above a connecting bearish trend line with resistance at $0.3180 on the hourly chart of the XRP/USD pair. The pair traded towards the $0.3220 level, which acted as a solid resistance. However, there was no test of the 50% Fib retracement level of the recent slide from the $0.3350 high to $0.3100 low. Therefore, there are chances of more upsides towards the $0.3225 and $0.3250 levels. The price action is still bearish and it seems like it won’t be easy for buyers to clear the $0.3220 and $0.3250 resistances.

Looking at the chart, ripple price is currently following an ascending channel with support at $0.3160. There could be a short term spike towards the channel resistance, $0.3220, and the 100 hourly SMA. A failure to gain momentum above these barriers could result in a fresh decline to $0.3100.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is about to move back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently near the 50 level, with a flat bias.
Major Support Level – $0.3160
Major Resistance Level – $0.3220
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Ripple partners with Chinese research institute for Blockchain Technology Research Scholarship program

Ripple has been working non-stop in terms of spreading its reach, with the firm recently marking a milestone by crossing more than 200 partnerships across 40 different countries. According to Crowd Fund Insider, Ripple has struck another partnership with Tsinghua University, in order to launch a scholarship program.
The Institute for Fintech Research, Tsinghua University [THUIFR] plans to launch a Blockchain Technology Research Scholarship Program [BRSP] for graduate students in China, and Ripple will be supporting the university’s cause with this partnership. THUIFR is a well-recognized and a leading research institute in China and based on its research resources and achievements it will be focusing on international regulatory policies and the development of blockchain technologies.
Ivy Gao, Director of International Cooperation and Development, THUIFR, said
“Most importantly, I believe, this program will greatly help with their future research or career in the field of blockchain technology.”
Eric van Miltenburg, Ripple’s SVP of Global Operations, said:
“The program’s goal – to provide students with opportunities in blockchain research – closely aligns with that of Ripple’s University Blockchain Research Initiative. We’re thrilled to support THUIFR in this endeavor and look forward to its launch.”
Ripple is well-known for its far-reaching partnerships financial industry related companies and even research-based companies and universities. The company plans to support and improve the academic research and development of blockchain and cryptocurrency.
Moreover, Ripple recently announced that it had a few banks going live with their blockchain solution xRapid, which continues to create a lot of buzz in the community. A few days after this announcement, more than five financial institutions announced their plans to go live with xRapid.
With its partnership with the Chinese University, Ripple is slowly moving into countries with strict rules and regulations when it comes cryptocurrencies, and this is considered as a breakthrough by some in the community.
@coupleofcrypto commented:
“Awesome. Go @Ripple. Most criticized in the crypto space, and yet by far the most active to get blockchain technology adopted worldwide… This is part of Ripple partnering with universities around the world to push blockchain development. It’s awesome, Ripple is really helping the entire crypto space, but you take it one step too far Just my opinion.”
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Source: AMB Crypto

XRP gets more decentralized as Proof-of-Work-based cryptocurrencies face extinction

Opinion:
XRP and Ripple, together have created quite a buzz in the financial system, especially in the remittance industry with their blockchain solutions.
XRP has faced all the major cryptocurrencies and triumphed to become the second-largest cryptocurrency by market cap in the space. The only other thing that’s left for XRP to do is, overthrow the reigning champion i.e., Bitcoin [BTC], which obviously had the first-mover advantage and peoples’ sentiment.
Bitcoin’s Proof-of-Work [PoW] Vs. XRP Ledger’s Distributed Agreement Protocol
Bitcoin was the first cryptocurrency that was created and it uses PoW algorithm, which is how the transactions are verified and solves the problem of “double spending”. PoW algorithm consists of miners, who validate the transactions by putting in their resources and, hence, they are rewarded for the same. This process, which seemed good enough, will be relatively rejected by the miners as the reward for mining decreases after mining every 210,000 blocks.
Eventually, the miners will be left with no option, but to quit. Moreover, the PoW algorithm uses massive resources, which extracts a heavy toll on the world we live in. Furthermore, miners that are spread out across the globe is what makes the Bitcoin network decentralized, but it is also what makes it less decentralized and susceptible to attacks.
Since Bitcoin gained a lot of notoriety as its prices sky-rocketed, mining Bitcoins suddenly gained attention, causing a lot of miners to pool their resources to mine the coin, resulting in large pools with huge resources. If some of these pools ever decide to collude, they could easily perform an attack on the Bitcoin’s network, create a second chain, double spend, stop/reverse transactions etc.
Ethereum Classic, a PoW-based cryptocurrency, recently faced a brutal 51% attack, resulting in a loss of $2.1 million worth of assets. The attacker had enough hash-rate to disrupt the original chain and double spend assets.
Unlike Bitcoin [BTC] and Ethereum [ETH], XRP uses Distributed Agreement Protocol aka Consensus Protocol. XRP solves the problem of double spending in a more efficient way in comparison to PoW cryptocurrencies. It uses a distributed agreement protocol that relies on validators to group transactions into ordered units and agreeing on one such order.
These validators are spread across the globe and unlike Bitcoin’s miners, these validators are not rewarded for grouping transactions into ordered units.
In addition, XRP Ledger requires a total of 80% of all the validators on the entire network to support and vote for a change over a period of two weeks before it goes into effect. The two-week timeframe provides an incentive for the users to upgrade their software to accommodate the change. If the change is not agreed upon by the 80% of the users, then it won’t go into effect.
Furthermore, Schwartz said that if more than 20% of the nodes disagree with the majority, the network would halt and reconfigure a new list that has a majority of the nodes in agreement. This would create more than one ledger and the ledger that has the supermajority would be selected as the final ledger.
Moreover, if the validators become selfish and collude to disrupt the normal flow of transactions, then the users would have to agree on a new list that would provide enough overlap so that they can continue to interoperate.
David Schwartz, the CTO of Ripple commented on this matter [about attacking XRP Ledger] in a tweet, he said:
“This has never been a problem for any blockchain in the past, and it’s required by every blockchain when previous agreements fail to be sufficient. Decentralized systems fundamentally allow interoperation only among people who continue to agree on a large number of things.”
“Surprisingly, the lack of incentives in the XRPL design actually makes this much easier. All honest participants want the network to work well and have perfectly aligned interests. There’s no power over anything to give out, no rewards to argue over splitting, or the like.”
Hence, when compared to other PoW cryptocurrencies, XRP is better at resisting attacks by collusion or bad actors, as it does not provide any opportunities for a person to develop control over the ledger due to its consensus protocol. In addition, XRP Ledger uses a deterministic protocol making the validation of transactions impossible to edit.
Other advantages of XRP that makes it a superior cryptocurrency over others would be the transaction speed and cost. XRP can perform 1500 transactions per second, whereas Bitcoin can do only 6 transactions per second and Ethereum can do only 15 transactions per second. Below is a chart which illustrates the same.
Source: Ripple.com
Cryptocurrencies, even Bitcoin, were created as an alternate form payment from the centralized and controlling authorities, and for it succeed it should have higher transaction speed with negligible fees. XRP checks all these boxes, whereas Bitcoin and Ethereum, on the other hand, struggle with these features as they struggle in terms of scalability.
Hodor, a contributor to the XRP community said it best in a blog:
“While Bitcoin maximalists will point to overlay software such as Lightning, there have been numerous intractable problems with using secondary software to interact with POW networks. Using a secondary network to scale doesn’t solve the problem of using a completely inadequate base-layer technology. “
Bitcoin’s transaction cost aka fees skyrocketed when the coin reached its all-time high in December 2017. The average transaction fee for Bitcoin reached a maximum of $55.
Moreover, XRP makes it easier to settle cross-border payments in a matter of seconds and also provides solutions to various remittance problems with Ripple’s blockchain solutions like xRapid, xVia, and xCurrent. With more than 200+ partnerships in over 40+ countries, Ripple and XRP are on a journey to become the world standard in payment and financial industry.
All the above-mentioned facts converge leads to a single conclusion, which is, XRP is getting more decentralized while other PoW cryptocurrencies are trying to catch up with XRP. It is only a matter of time that XRP becomes a widely accepted form of payment, overtaking Bitcoin even with its first-mover advantage.
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Source: AMB Crypto

Ripple Price Analysis: XRP Accumulation, Bull Pressure Building Up

Ripple prices stable above 30 cents
SWIFT—Ripple competition should heat up in coming days
Transactional volumes low and dropping

XRP success depends on adoption. That’s why an increase in xRapid users is bullish for investors. Even still, the slide of XRP prices have been deflating, and after 12 months of lower lows, we expect Sep 2018 to guide medium to long term price trajectory.
Ripple Price Analysis
Fundamentals
As long as SWIFT dominates, we expect determined competitors to step up their marketing, pitch to potential clients—mostly in areas where most are unbanked and without access to financial services. Such has been the effort of Ripple.
With three main products—xCurrent, xVia, and xRapid, we can conclusively say they have been largely successful. However, they still have a long way to go. As a ledger that caters explicitly for financial institutions, the only way average investors will reap benefits is when majority banks incorporate Ripple’s technologies and adopt xRapid.
The latter is a solution that guarantees speed, efficiency and cost saving made possible because it uses XRP as a liquidity tool. Thus far, 13 companies are benefiting from xRapid, but 13 is a mere drop in a cross border global payment system estimated to move $2 trillion by 2020. Should Ripple win over clients and there is regulatory clarity around XRP and xRapid, we expect demand to surge, lifting prices with it.
Candlestick Arrangements

At the time of press, XRP was up 1.2 percent from yesterday’s close, exchanging hands at around 32 cents against the USD. Considering yesterday’s price sinks, this is positive and cements our previous assertions.
However, conservative as well as aggressive traders ought to be on the sidelines until after our trading conditions are valid. Because we are net bullish with guidance from Sep 2018 surges, a safe approach is to wait until clear price swings are driving XRP above 34 cents.
A simple Fibonacci retracement between Dec 2018 high low places this buy trigger line at the 50 percent level. That’s above Jan 20 highs meaning for the first wave of higher highs to hold then buyers must reverse yesterday’s losses preferably at the back of above average trade volumes—above 24 million.
After that, the foundation for further gains towards 40 cents would be firm and conservative traders would be anticipating possible rallies towards Dec 2018 highs of 60 cents.
Technical Indicators
From a conservative approach, traders and investors would be tracking XRP buyers’ ability to reverse yesterdays and Jan 10 losses. With volumes of 83 million against 30 million averages, a bull buildup is necessary. To reiterate our stand, any volume surge driving prices above 34 cents (or below 30 cents) should exceed 24 million and ideally 83 million confirming demand or supply depending on breakout direction.
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Ripple Price Analysis: XRP Poised To Break $0.3000 Support

Ripple price is currently under pressure below the $0.3200 and $0.3180 support levels against the US dollar.
There is a crucial bearish trend line formed with resistance at $0.3185 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is likely to extend the current decline and it may even break the $0.3000 support area.

Ripple price declined sharply below key supports against the US Dollar and Bitcoin. XRP/USD remains at a risk of more losses below the $0.3050 and $0.3000 support levels.
Ripple Price Analysis
This past week, we saw a decent recovery above $0.3300 in ripple price against the US Dollar. However, the XRP/USD pair failed on many occasions to clear the $0.3380 and $0.3400 resistance levels. As a result, there was a bearish reaction and the price declined below the $0.3200 support level. The decline was such that the even broke the key $0.3180 support level and moved into a bearish zone. Finally, there was a close below the $0.3200 support level and the 100 hourly simple moving average.
A low was formed at $0.3102 and later the price started a short term upside correction. It recovered above the $0.3120 and $0.3130 levels. There was a break above the 23.6% Fib retracement level of the last decline from the $0.3352 high to $0.3102 low. However, the previous important support near $0.3180 is now acting as a strong barrier for buyers. Moreover, there is a crucial bearish trend line formed with resistance at $0.3185 on the hourly chart of the XRP/USD pair. Above the trend line, the 50% Fib retracement level of the last decline from the $0.3352 high to $0.3102 low is at $0.3227. Therefore, there are many hurdles formed near $0.3180, $0.3200 and $0.3220.

Looking at the chart, ripple price might continue to struggle near the $0.3200 resistance level. Therefore, there is a risk of more losses and it may even break the $0.3000 support area.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slightly placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level, with many bearish signs.
Major Support Level – $0.3100
Major Resistance Level – $0.3200
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XRP in Action Mode: Growing Numbers Fueling the Growth in Real-World Operations

Ripple is working hard on spreading its products worldwide with a strong number game as the XRP, xRapid, RippleNet, and xCurrent gradually gains more customers, real-world usage, and support from the community.
XRP’s Strong Number Game
Recently Ripple’s client Mercury Fx took to Twitter to share how it made one of its largest payment on RippleNet by using XRP while saving money in the process. This showed the real-world usage and effect of XRP.
Ripple is already working hard and fast in pushing to make its various products part of real-world banking operations. Previously, it has been claimed in 2018 that Ripple already has 100 clients in its bag and earlier in January, this year itself, Ripple shared further insight declaring RipleNet has surpassed 200 customers all over the globe.
The latest additions in this network have been Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND, and Rendimento.
Ripple’s clients have all the praises for its different products that allow them to settle transactions fast and in a cost-effective manner as David Lighton, the Founder of SendFriend, which was founded at MIT, said,
“Through our partnership, we are bringing our customers a next-generation, blockchain payment solution that leverages XRP to address many of the efficiency and equity problems with existing remittances.”
XRP fever is certainly spreading as platforms like r3, XRP Tip Bot, Arrington Capital, Omni, Nexo, Coil, XRParrot, and Travala among many others are utilizing this digital asset as a form of payment.
The plan is rather simple here to provide a better cross-border payment solution in terms of speed, cost, and transparency that the current established banking system lacks.
Just recently, Ripple sales director Ross D’Arcy said they want to make sending payments as easy as sending an email,
“3 clicks, 30 seconds, receive a confirmation that the end beneficiary has been paid. So as easy as we can do a voice chat or exchange emails, that’s exactly how we want the payment experience to be.”
D’Arcy further shared how this technology is a better solution than Swift,
“Ripple could shut down as a business tomorrow, and our customers could still transact using our software. The same wouldn’t be the case with Swift.”
If we talk about the number a bit more, according to the XRP community blog, XRP has about 1.5 million active wallets, more than 230 exchanges where the 2nd largest cryptocurrency has been listed and a strong community which is made up of over 1 million people.
“XRP has one of the largest and most coordinated group of developers of all cryptocurrencies in Ripple Labs,” said Ben Ritchie of Digital Capital Management while predicting XRP price at $0.75 by December 31, 2019.
On the front price, XRP is currently down about 90 percent from its all-time high. At the time of writing, it has been trading at $0.330 with 24-hours gains of 0.31 percent.
The post XRP in Action Mode: Growing Numbers Fueling the Growth in Real-World Operations appeared first on Coingape.
Source: CoinGape

Ripple/XRP: XRP’s Private ledger FUD busted by Ripple’s CTO

The private ledger of XRP FUD erupted after the news about the transfer of money from Mexico to the U.S. took place a few days back. People who tried to find the transaction on the XRP ledger failed to do so and were convinced that there was indeed a private ledger for xRapid transactions via XRP.
As per the company, they made a transaction worth £3,521.67 i.e., 86,633.00 from U.K. to Mexico. The company even stated that they saved 79.17 pounds and 31 hours on this transaction.
@MarkCryptos and @XRP_Mahn1 both asked a similar question to the CTO of Ripple, David Schwartz if this was actually true in separate tweets.
@XRP_Mahn1 asked:
“@JoelKatz Some seem to think there is the ledger, and a hidden ledger, (One retail, one institutional) that will eventually be merged together. This to my understanding seems ridiculous as the protocol rules state one state is valid, and it’s immutable.”
David Schwartz replied:
“It’s hard to imagine what such a merger would look like. It would have to follow the rules of the public ledger. It’s kind of funny, I was actually thinking just today about how cool it would be if you could run the XRPL software in a private ledger mode and later bridge…
to the public ledger. For example, you could have an asset issued on both ledgers that’s bridged by the validators of the private ledger who multisign txns for the public ledger. It’s actually a cool use case to cut txn fees and scale.”
The conversation on the Twitter thread continued and a user asked if there is a possibility of a private ledger that could be set up between organizations for transactions via xRapid
Schwartz continued that the XRP Ledger is public and it is the “authoritative proof” that a person holds XRP. He continued that there were ways that a person/organization could use the real XRP on a private ledger but would require for that person/organization to actually buy XRP to do the bridging.
David Schwartz further stated:
“That gives you two interesting use cases: 1) No XRP for cases where the cost of XRP is a factor. You only need/use XRP when you need to interact with the public ledger. 2) XRP fully linked, for cases where you want liquidity and connectivity and don’t mind the very small costs.”
Furthermore, Schwartz said that none of this was built yet and even if it were to be done it would not be difficult. Moreover, he said that if such a thing ever happens it would be questioned over the system being centralized. He continued that he liked the idea of federation run ledgers.
David Schwartz concluded saying:
“If you were creating such a walled garden, why use a crypto or blockchain at all? This seems like just recreating private ledger balances — what everyone’s been doing already.”
The post Ripple/XRP: XRP’s Private ledger FUD busted by Ripple’s CTO appeared first on AMBCrypto.
Source: AMB Crypto

Mercury FX Makes Its Largest Payment Across RippleNet

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Mercury FX Makes Its Largest Payment Across RippleNet

Ripple is breaking all sorts of traditional financial trends. In recent news, Mercury FX has made their most substantial payment from the UK to Mexico using XRP. The amount was valued at £3,521.67 which in US dollar terms is equal to around $4552.

Mercury FX Makes Its Largest Payment Across RippleNet

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Source: CoinSpeaker