Ripple Price Analysis: XRP Bears Target $0.2800 Post Downside Break

Ripple price remained in a bearish zone and declined below the key $0.3060 support against the US dollar.
Bears remain in action as they managed to push the price below the $0.3000 support.
Yesterday’s highlighted important bearish trend line is intact with resistance at $0.3035 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is currently correcting higher, but bears remain in control below $0.3040 and $0.3060.

Ripple price declined heavily and broke many supports against the US Dollar and bitcoin. XRP/USD is currently in a strong downtrend and it could continue to move down towards $0.2920 or $0.2800.
Ripple Price Analysis
In the past few hours, there was a strong decline in ripple price from the $0.3100 resistance against the US Dollar. The XRP/USD pair failed to hold the $0.3080 and $0.3060 support levels and entered a bearish zone. There was a sharp decline below the $0.3040 support and the price settled well below the 100 hourly SMA. Sellers gained control and pushed the price below the $0.3000 support as well.
A new weekly low was formed at $0.2980 and the price is currently correcting higher. The price moved above the $0.3000 support level. Moreover, it cleared the 23.6% Fib retracement level of the recent decline from the $0.3065 high to $0.2980 low. However, there are many hurdles for buyers near the $0.3040 level. An initial resistance is $0.3025 and the 50% Fib retracement level of the recent decline from the $0.3065 high to $0.2980 low. More importantly, yesterday’s highlighted important bearish trend line is intact with resistance at $0.3035 on the hourly chart of the XRP/USD pair.
If there is an upside break above the $0.3035 level, the price could trade towards the key $0.3060 resistance. The 100 hourly simple moving average is also positioned near the $0.3070 level to act as a barrier for buyers. Therefore, if the price corrects higher, it is likely to face a strong selling interest near the $0.3035 or $0.3060 level.

Looking at the chart, ripple price is under a lot of selling pressure and it is in a strong downtrend below $0.3080. On the downside, if the price declines below the recent low of $0.2980, there could be a sharp drop towards $0.2920 or $0.2880. Besides, if sellers remain in action, there are chances of a test of the $0.2800 support level. On the upside, only a close above $0.3060 and the 100 hourly SMA might decrease selling pressure.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 40 level, but below 50.
Major Support Levels – $0.3000, $0.2980 and $0.2920.
Major Resistance Levels – $0.3035, $0.3060 and $0.3070.
The post Ripple Price Analysis: XRP Bears Target $0.2800 Post Downside Break appeared first on NewsBTC.
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Quora Removes Schwartz’s “Joke” , Ripple (XRP) Drop with Light volumes

Ripple price drop 3.5 percent
Quora deletes David Schwartz’s joke answer
Transaction volumes low as prices range

Quora’s moderation team removed David Schwartz‘s comment because it is a “joke” answer highlighting the level of censorship in centralized systems. All the same, Ripple prices are under pressure and slowly dropping towards 30 cents.
Ripple Price Analysis
Fundamentals
A while back, the blockchain community thought that Ripple and XRP were synonymous and even a split wouldn’t cause a differentiation. The argument was that XRP was an Air-drop and without the currency, the platform can still function. Critics went on saying Ripple transactions are reversible considering the then level of centralization.
Well, the decentralization claim has been clarified on numerous occasions by David Schwartz. While addressing the transaction blocking claim, Brad said the company couldn’t, at any point, reverse or block transactions on its XRP Ledger.
Now, David Schwartz the CTO of Ripple experienced firsthand what censorship is when Quora moderation team deleted his his “joke” answer. Quora’s terms are clear and stating that “Answers and Reviews that are intended as jokes are not helpful responses. Besides, humorous answers and reviews that deliberately misinterpret the intent of the question/topic will be collapsed.”
Candlestick Arrangement

Aside from Stellar’s XLM, XRP is the second-worst performer in the top-10 and down 3.5 percent from last week’s close. It is likely that prices will trickle lower in days ahead as sellers of Feb press the liquidation medal driving prices towards 25 cents as our previous XRP/USD trade plans are invalidated. As it is, the selling momentum is strong. As prices band along the lower BB, we shall instead shift our focus to how Ripple (XRP) prices will react at Mar 14 and Feb 30 lows. The level is an important support line and marks the base of Q4 2018 and Q1 2019 lows. Any break below would see XRP drop to 25 cents.
Technical Indicators
What’s encouraging from a technical point of view is that this Ripple (XRP) is at the back of low participation. By yesterday’s close, averages stood at 11 million which is far lower than those of Feb 24-25 averaging 32 million. Therefore, unless otherwise there are sharp drops with averages rising to 40 million for example and accompanying bar above 34 cents or below Q1 lows above 61 million, we shall maintain a neutral but bullish overview on XRP price.
Chart courtesy of Trading View
The post Quora Removes Schwartz’s “Joke” , Ripple (XRP) Drop with Light volumes appeared first on NewsBTC.
Source: New feedNewsBTC.com

Is XRP a Security? It Seems There Will be No Answer Any Time Soon

Coinspeaker
Is XRP a Security? It Seems There Will be No Answer Any Time Soon
According to the investigation lawyer from global law firm Kober & Kim, Jake Chervinsky, it will take more than a year to understand whether Ripple’s XRP is a security or not. Here’s why.
Is XRP a Security? It Seems There Will be No Answer Any Time Soon

Continue reading at Coinspeaker
Source: CoinSpeaker

Western Union Ties Up with Stellar-backed Thunes for Direct Mobile Wallet Transfers

Coinspeaker
Western Union Ties Up with Stellar-backed Thunes for Direct Mobile Wallet Transfers
With the help of Stellar-backed Thunes, Western Union is going to allow its clients to transfer funds directly to mobile wallets globally.
Western Union Ties Up with Stellar-backed Thunes for Direct Mobile Wallet Transfers

Continue reading at Coinspeaker
Source: CoinSpeaker

XRP: Santander apologizes for misinformation regarding usage of XRP for international transfers

Santander, a Ripple partner and leading retail and commercial bank headquartered in Spain, apologized in a tweet about misinformation regarding the use of XRP for international payments and corrected their statement hours after the incident.
A Twitter user Wes G [@wesgranger] tweeted:
“Hi all how is Santander getting on with using XRP for payments ?”
Santander replied saying that they were using XRP for international payments.

Hey Wes, we're doing great. We're using XRP for international payments to 18 EU countries and the USA. This is on our iPhone app called One Pay FX. ^TC
— Santander UK Help (@santanderukhelp) March 23, 2019

Santander’s tweet sent the XRP fans into a frenzy as they ‘found proof’ that Santander was using xRapid for international transfers.
This development was important as the XRP community believed that xRapid and xCurrent 4.0 [which also uses XRP] would push the price of XRP higher. This has been the long-standing belief of a lot of people in the XRP community.
xRapid is a payment solution developed by Ripple that leverages XRP to source liquidity and allows payments to flow without friction across the borders. Ripple partnered with more than 250 partners, including banks and other financial institutions, in order to bring them onto a single network called RippleNet.
There were a few who weren’t sure about the rumor and said that if XRP was actually being used by Santander, there would be a huge volume on the XRP Ledger.
However, Santander corrected their statement a few hours later via a tweet that read:
“We are sorry, unfortunately due to a misunderstanding we have given incorrect information. We do apologise for the confusion this has caused. One Pay FX uses xCurrent only.”
This was the second rumor that the XRP community braced with after misinformation about the Cobalt update was put to rest by the lead scientist at Coil, who is also the main man behind the update.
@stefanhash, a Twitter user commented:
“Well #xcurrent has #xrapid integrated ! They didn’t mistake , they just realize they give inside informacion !”
@francovgaete, another Twitter user commented:
“kind of relief.. if volume and prices are like this even with them using #xrp to move money to over 18 countries, then something was very wrong…. phew!!”
The post XRP: Santander apologizes for misinformation regarding usage of XRP for international transfers appeared first on AMBCrypto.
Source: AMB Crypto

Santander UK Not Using XRP for Payments, but Ripple Fans Still Have the Reason to Rejoice

Coinspeaker
Santander UK Not Using XRP for Payments, but Ripple Fans Still Have the Reason to Rejoice
Banco Santander got confused with XRP and Ripple, and mistakenly announced that they’re using XRP for payments across 19 countries. Later, responding to an XRP enthusiast, the company apologized for providing incorrect information.
Santander UK Not Using XRP for Payments, but Ripple Fans Still Have the Reason to Rejoice

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitrue adds XRP base pairs against three cryptocurrencies

After a rumor-filled day which saw the Cobalt update being delayed again, the XRP community breathed a sigh of relief post Bitrue exchange’s announcement of adding XRP as a base pair against three cryptocurrencies viz, Basic Attention Token [BAT], DASH, and STORM.
Bitrue is a Singapore-based exchange, but has offices all across the world, including in US and Japan. The exchange announced the development via Twitter:

[Bitrue New XRP Base Pairs]
DASH/XRP BAT/XRPSTORM/XRP
Happy trading!https://t.co/I0urVZCvoZhttps://t.co/ezjjBIPbwIhttps://t.co/XXIR83pDfX pic.twitter.com/kxna1wAQlF
— Bitrue (@BitrueOfficial) March 24, 2019

The exchange upgraded their wallet for XRP and resumed the deposit and withdrawal of XRP on March 23, 2019. Moreover, the exchange has over 34 cryptocurrencies paired to XRP, including Bitcoin Cash [BCH], EOS, Ethereum Classic [ETC], GAS, and OmiseGo [OMG].
Bitrue also included other programs for XRP to attract users to its platform as it announced an XRP airdrop and a 7.3% interest program for XRP in March 2019. The airdrop was extended to two weeks after users requested for the same.

#1 week of $XRP airdrop @BitrueOfficial! Snapshot will be taken at 24:00 on Sunday, March 31, UTC+8.
Please follow us on Twitter and opt in the airdrop from the formhttps://t.co/5ncGkM8WIT pic.twitter.com/EFFSHX5H2X
— Bitrue (@BitrueOfficial) March 25, 2019

@plitern1, a Twitter user, commented:
“Thank you for the continued roll-out of XRP base pairs!
This is how the whole echosystem of crypto starts to mature as a whole: The diminishing correlation to the Btc peg. It’s not only great for #XRP but for everyone that likes crypto & wants crypto as a whole to succeed. ”
Another Twitter user, @super_dog79, commented:
“Your response to your customers is endearing. It won’t belong before you’re the preferred exchange of retail customers . Great platform !”
The stigma of XRP being a security has been reducing after more and more exchanges began adding XRP to their exchanges. In addition to listing XRP, they are also adding XRP as base pairs.
Moreover, March seems to be favoring XRP adoption as CoinField also announced the addition of 130+ pairs against XRP on their testnet in March 2019. Sharia-compliant Middle East exchange Rain also added XRP to its roster of cryptocurrencies. Furthermore, UK’s PayGlobal also added the XRP feature to their platform, allowing users to convert their crypto to fiat with a new bank card.
The post Bitrue adds XRP base pairs against three cryptocurrencies appeared first on AMBCrypto.
Source: AMB Crypto

Ripple Price Analysis: XRP Facing Uphill Task With Sellers In Control

Ripple price recovered recently, but it failed to break the $0.3120 resistance against the US dollar.
The price is slowly declining and it is currently trading well below the $0.3100 level.
There is a crucial bearish trend line formed with resistance at $0.3065 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair might continue to slide and it could revisit the $0.3020 support level in the near term.

Ripple price is currently under pressure against the US Dollar and bitcoin. XRP/USD is facing a strong resistance near $0.3070 and it may extend its decline towards $0.3020.
Ripple Price Analysis
After testing the $0.3000 support, ripple price started a short term rebound against the US Dollar. The XRP/USD pair traded above the $0.3050 and $0.3080 resistance levels. The price even traded above the $0.3100 level, but it faced a strong resistance near the $0.3120 level. Besides, the price even failed to test the $0.3120 level and the 100 hourly simple moving average. A high was formed at $0.3113 and later the price started a downside move.
It traded below the $0.3080 and $0.3060 support levels. A low was formed at $0.3031 and the price is currently correcting higher. It is trading above the 23.6% Fib retracement level of the last decline from the $0.3113 high to $0.3031 low. However, the previous support near the $0.3060 level is acting as a resistance. There is also a crucial bearish trend line formed with resistance at $0.3065 on the hourly chart of the XRP/USD pair.
Above the trend line, the next resistance is near the $0.3080 level. It coincides with the 61.8% Fib retracement level of the last decline from the $0.3113 high to $0.3031 low. However, the main resistance is near the $0.3100 level and the 100 hourly SMA. Therefore, even if the price breaks the $0.3065 resistance, it is likely to struggle near $0.3080 or $0.3100. On the downside, an immediate support is near the $0.3030 level, below which the price may revisit the $0.3020 support level.

Looking at the chart, ripple price is clearly trading near important resistances near $0.3060 and $0.3070. There may be a short term upside break, but the price remains in a bearish zone as long as it is below $0.3100. On the downside, if there is a break below the $0.3020 support, there could be heavy losses towards $0.3000 or $0.2920.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slightly placed in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently just above the 40 level.
Major Support Levels – $0.3030, $0.3020 and $0.3000.
Major Resistance Levels – $0.3065, $0.3080 and $0.3100.
The post Ripple Price Analysis: XRP Facing Uphill Task With Sellers In Control appeared first on NewsBTC.
Source: New feedNewsBTC.com

Crypto Market Update For The Week March 18 to March 24

Hi Readers, welcome to cryptocurrency price analysis for the week. Do not forget to check movers and shakers for this week at the last of the article.
Bitcoin (BTC)
Closer to USD 4000, Bitcoin saw some neutral sentimental moves this week being flat on price movement. Bitcoin was able to break the resistance of USD 4000 and has been hovering around the same.  The prices hit a high point of USD 4,097.36 and the lowest point of USD 4,005.15 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were, CoinBene (3.39%), Fcoin (3.37%), BitMex (3.27%)
Among prominent news around Bitcoin, Crypto Firm BlockFi Trims Interest Rates of Bitcoin Savings Accounts.
Source: coin360.com
Ethereum (ETH)
Ethereum too had its share of flatness and continued to hold its second place. On the top, this week Ethereum was at USD 142.7  and were at lows of USD 135.86. The markets that were more active, in volumes, with ETH across various pairs this week were FCoin (8.26%), Coineal (4.07%), and Fatbtc.(2.57%)
Among news around Ethereum, Alex Sunnarborg, a Tetras Capital representative, noted that recent layoffs at Consensus Systems, better known as ConsenSys, should have a negative effect on the broader Ethereum ecosystem.
Ripple (XRP)
Like, it has been a couple of weeks, XRP again had a milder week. The coin stayed very much in the range and consolidated in its number 3 position.  On the top, this week the prices of XRP were at USD 0.320777and towards the bottom, it quoted USD 0.309338. The exchanges that were more active, in volumes, with XRP across various pairs this week were, ZBG.COM (8.30.64%) ZB.COM (5.88%)  and Fatbtc. (3.57%)
For XRP this week, David Schwartz presented his thoughts on a wide variety of topics at a featured session called “Blockchain Beyond the Hype: The Ripple Effect” where he mentioned that the primary use case that Ripple sees for the XRP Ledger is settling cross-border cross-currency payments because it is “really, really good at that.”
The Other Movers and Shakers
The Other coins that made to the top and bottom this week according to Coin Market Cap (accessed on March 24 at 09:30 pm IST) were
Movers

ShineChain [SHE]- Showing a rise of 2077.87
Coni [CONI] – Showing a rise of 238.46%
Noah Coin [NOAH] – Showing a rise of 213.63%

Shakers

Bitcoin X [XBI]- Showing a drop of 48.32%
NEXT [NET]- Showing a drop of 39.66%
BoatPilot Token [NAVY] – Showing a drop of 41.47%

What do you think would be the sentiment of the crypto markets next week? Do let us know your views on the same.
The post Crypto Market Update For The Week March 18 to March 24 appeared first on Coingape.
Source: CoinGape

Ripple’s class-action lawsuit takes a step further as court sets schedule for next year

Ripple’s long-pending class action lawsuit has taken a step further as the courts have denied the plaintiff’s motion to move the case to the state courts and asked the plaintiffs to appoint a lead plaintiff/class representative.
There are four cases against Ripple that allege that XRP is a security and that Ripple violated state and federal laws by failing to register it as a security. The four cases were brought forward by Zakinov, Oconer, Coffey, and Greenwald.
Jake Chervinsky, a lawyer at Kobre & Kim LLP, tweeted the developments:
“Last month, the federal court denied the plaintiffs’ motions to return to state court, so the case will now stay federal.
At the time, I called this a “minor but meaningful” victory for Ripple. It’s a battle they fought hard to win, but a small one at the start of a long war.”
The judgment on the class action suit as explained by Jake Chervinsky is binding on the whole class. If Ripple resolved one class action, it would mean that XRP wouldn’t be labeled as “security” for all the plaintiffs.
The court has set a schedule for the litigation this year and the next phase of litigation include appointing a lead plaintiff, re-filing a consolidated complaint, and responding to the complaint. The court has provided the plaintiffs until May 20, 2019, to appoint a lead plaintiff and select a counsel for representing the class lead plaintiff.
Jake Chervinsky explained the next step in his tweet:
“… after lead plaintiff & lead counsel are appointed, the Court’s order gives them 45 days to file a new consolidated complaint asserting every legal violation that the class believes Ripple committed. At the very earliest, the consolidated complaint will be due in July.”
Ripple will be provided 45 days to respond to the consolidated complaint by the lead plaintiff, and it could take until September 2019 for Ripple to come up with a response on the matter. As suggested by Chervinsky, Ripple could also respond to the complaint by motion to dismiss, giving Ripple 30 additional days to reply.
The post Ripple’s class-action lawsuit takes a step further as court sets schedule for next year appeared first on AMBCrypto.
Source: AMB Crypto

Amazon Partners with Worldpay: Is e-Commerce Behemoth Getting Closer to Ripple?

Coinspeaker
Amazon Partners with Worldpay: Is e-Commerce Behemoth Getting Closer to Ripple?
Amazon and Worldpay have announced their partnership in the framework of which Worldpay will fully enable Amazon Pay for its merchants.
Amazon Partners with Worldpay: Is e-Commerce Behemoth Getting Closer to Ripple?

Continue reading at Coinspeaker
Source: CoinSpeaker

Ripple Price Analysis: XRP Flirts With Key Resistance Amid Sell-off

Ripple price failed once again to break the $0.3200 resistance and declined sharply against the US dollar.
The price broke the key $0.3125 and $0.3100 support levels to move into a bearish zone.
There is a major bearish trend line formed with resistance at $0.3110 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is currently correcting higher, but it is facing a solid hurdle near the $0.3100 pivot level.

Ripple price declined heavily and turned bearish against the US Dollar and bitcoin. XRP/USD may consolidate in the short term and upsides are likely to remain capped near $0.3100 and $0.3120.
Ripple Price Analysis
There was another attempt by ripple price to clear the $0.3200 resistance against the US Dollar. The XRP/USD pair failed to gain momentum, resulting in a sharp bearish reaction. The price started a significant decline and broke the $0.3150 and $0.3140 support levels. The decline was such that the price even broke the key $0.3100 support level and the 100 hourly simple moving average. A new weekly low was formed near the $0.3000 level before the price started an upside correction.
Buyers pushed the price above $0.3050 and the 23.6% Fib retracement level of the last drop from the $0.3199 high to $0.3005 low. There was even a break above the $0.3080 resistance, but the price faced a strong resistance near the $0.3100 level. The stated $0.3100 level acted as a support earlier and now it is preventing gains. Besides, the 50% Fib retracement level of the last drop from the $0.3199 high to $0.3005 low is also near the $0.3100 resistance. More importantly, there is a major bearish trend line formed with resistance at $0.3110 on the hourly chart of the XRP/USD pair.
Therefore, the price is likely to face a strong selling interest near the $0.3100 level. The next key resistance is near the $0.3125 level since it coincides with the 100 hourly SMA. On the downside, an initial support is near the $0.3060, below which the price could revisit the $0.3000 support level.

Looking at the chart, ripple price moved into a bearish zone, with a close below $0.3100 and the 100 hourly SMA. In the short term, there could be range moves between $0.3060 and $0.3125 before the price makes the next move. On the downside, if buyers fail to defend the $0.3000 support, the price may slide towards the $0.2920 support.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently moving higher towards the 45 level.
Major Support Levels – $0.3060, $0.3040 and $0.3000.
Major Resistance Levels – $0.3100, $0.3120 and $0.3125.
The post Ripple Price Analysis: XRP Flirts With Key Resistance Amid Sell-off appeared first on NewsBTC.
Source: New feedNewsBTC.com

xRapid will not ‘flip the switch’ on XRP price, say prominent XRP community enthusiasts

XRP, the cryptocurrency closely related with the company Ripple, has been at the center of speculation and arguments, with respect to xRapid and XRP’s price.
There have been a lot of accounts on Twitter promoting the fact that the price of XRP will rise and shoot to the moon, after banks and financial institutions start using xRapid for cross-border payments.
The most famous theory put out by people was the price of XRP hitting $589 by the end of 2018, which didn’t happen.
However, a recent conversation started by prominent XRP enthusiasts, has suggested that xRapid would not massively affect the price of XRP.
Nayer Malik [@sinjunsmyth], a Twitter user, stated,
“@galgitron @Hodor @jungleincxrp @C3_Nik …Guys what r ur thoughts on Bob Way’s view regarding X-Rapid usage not increasing the price in and of itself?”
In response, Galgitron [@galgitron], a prominent XRP enthusiast and a contributor to the XRP community, added that he had “been saying that all along.” In one of his blogs Galgitron stated,
“Sure, there may be some massive FOMO buy-in once banks announce they are starting to use xRapid, and that will send the monkey [price action] hundreds of feet into the air, but, only speculation creates parabolics..”
C3|Nik [@C3_Nik] acknowledged the above and replied,
“It was seen like blasphemy to say that xRapid would not move prices that much by itself (e.g. “not the flip-the-switch kind of event”). It is interesting that the people who spread that narrative and misled others still have so many followers. Selling dreams.”
A Twitter user, @Crypt_Megalodon, voiced his opinion, which was different from the others. He tweeted,
“Well when you consider the US money supply being 15 trillion alone, the XRP cap doesn’t worry me. If/when XRP becomes the standard world wide, inflation will be rapid with mass adoption. I agree, with years, but, the value can be prodigious! The cryptoloution has already started.”
Considering the price of XRP at press time was only $0.31, and that there were more than a couple of Ripple customers that had already started using xRapid for cross-border transactions, the increase in the price of XRP due to xRapid seemed highly unlikely.
The post xRapid will not ‘flip the switch’ on XRP price, say prominent XRP community enthusiasts appeared first on AMBCrypto.
Source: AMB Crypto

Ripple Might Lose Its Banking Partnerships Due to the JPM Coin Phenomena

JPM Coin caused an uproar in the cryptocurrency and financial market with its introduction of the JPM coin. However, the chaos was non-directed; the purpose of JPM Coin was unknown. Moreover, its contribution or competition to the cryptocurrencies was also unclear.
Nevertheless, JPM coin received harsh criticism from the crypto community including Ripple’s CEO Brad Garlinghouse. The reason cited for the same was lack of interoperability. The general perception is that JPM coin is as an isolated centralized cryptocurrency. However, it seems that there is more to it that it meets the eyes.
Beginning of a Banking/Blockchain Revolution?
JPM Coin is built on a distributed ledger based on Blockchain. While the JPM coin does not add any economic value to the system, a variety of centralized blockchains can be made to interact with each other. Hence, JPM coin might not just be an isolated incident but the beginning of a Blockchain revolution in banking.
Proposed Schematic Diagram Of JPM Coin
According to Aaron Brown from Bloomberg:
” it (JPM) is designed to interact with any “standard” blockchain. It needs to be a blockchain to play with other blockchains and I think the distributed ledger means that JPM Coin will circulate outside the JPMorgan private blockchain. Those other ledgers might be private or public, centralized or distributed (probably mostly private and centralized), but the overall system is distributed. ”
Tokenization of the Economy
Furthermore, the increased interoperability between banks might also start to include other institutions in it. Hence, the centralized or decentralized entities will get an opportunity to transact in that ‘token’ as well.
While this will help the cryptocurrency markets as a whole, it might hurt the price of Ripple’s XRP massively. Until now the XRP’s investments are majorly driven on its partnerships with banks and financial institutions. Therefore, if JPM cryptocurrency starts to provide utility and execute transactions as efficiently as XRP; XRP’s demand would decrease considerably as Ripple would start losing its partners.
 “I think JPMorgan will earn seigniorage creating JPMCoin. I think the exciting potential is circulation outside the JPMorgan private blockchain.”
The post Ripple Might Lose Its Banking Partnerships Due to the JPM Coin Phenomena appeared first on Coingape.
Source: CoinGape

XRP/USD Price Analysis: Coin stagnates even after massive adoption news

The third largest cryptocurrency, XRP, was moving sideways for almost two months, without any price surge or drop. The price was stuck between a support and a resistance, and it didn’t look like it will break out any time soon.
The price of XRP at press time was $0.3217, while the market cap was at $13 billion. The 24-hour trading volume was $801 million. A huge chunk of the trading volume for XRP was coming from ZBG exchange. It contributed a total of $92 million in trading volume, via the XRP/USDT trade pair.
1-hour
Source: TradingView
The hourly chart for XRP showed an uptrend that extended from $0.3072 to $0.3187, while the downtrend extended from $0.3445 to $0.3257. The immediate support was at $0.31608, while the subsequent supports were at $0.3038 and $0.2928. The immediate resistance was at $0.3260.
The Bollinger Bands were undergoing a squeeze and indicated a reduction in the volatility of XRP. The price was dipping into the simple moving average, and indicated that the market was bearish.
The Stochastic RSI indicator showed a bearish scenario as well, but a stronger one when compared to the Bollinger Bands.
1-day
Source: TradingView
The one-day chart of XRP showed a downtrend that extended from $0.9027 to $0.3220. The price of XRP in the longer time frame showed the support at $0.2587. The resistance points for XRP were at $0.5836, $0.6880, and $0.9027.
The MACD indicator showed a declining uptrend i..e, the green Aroon line. The Aroon downtrend line was also reducing.
The Chaikin Money Flow indicator showed a subzero CMF line, which signified that money was flowing out of the XRP market.
The Relative Strength Index showed a stagnant RSI line at the 50-line, where the momentum of sellers and buyers were equal.
Conclusion
The one-hour chart showed bearish pressure for XRP incoming, as indicated by the Bollinger Bands and Stochastic RSI indicators. The CMF, Aroon and the Relative Strength indicator showed a bearish trend for XRP as well.
The post XRP/USD Price Analysis: Coin stagnates even after massive adoption news appeared first on AMBCrypto.
Source: AMB Crypto