Yet another episode of the exciting, one of its kind Ripple Drop series unfolds. Ripple drop clearly features that the potential that Ripple [XRP] has is exemplary, not just for its value but for what it can offer the society in the long run.
The Episode 7 of the Ripple Drop featured a whole lot of discussions with several influential people. These include;
- Founder and CEO of OMNI, Thomas McLeod, who gave a rundown on OMNI’s vision and how together with his team, they’ve integrated the XRP onto their platform.
- Senior Vice President of Xpring, Ethan Beard who discussed Xpring’s future plans to help support developers and businesses working on the XRP Ledger and Interledger Protocol.
- And finally Head of XRP markets, Miguel Vias who talks about how new use cases for the digital asset impact broader global liquidity of XRP.
Tokenizing Digital Assets
Ethan explained that the first use case his team has focused on from the Ripple perspective is on cross-border remittances and the other possible use cases for XRP and XRP Ledger. He pointed out that Xpring is an initiative to focus on new use cases for XRP and XRP Ledger outside of cross-border payments.
He also explained that despite the company is not only focused on XRP payments but they are also looking towards the tokenization of real world assets.
Ethan said; “There are a lot of assets that people purchase and that are actually quite liquid, they are quite hard to transfer and by tokenizing these things you can make them more liquid and much easier to transfer around.”
He gave gaming as a similar example to un-tokenized online assets, whereby, a people spend loads of money buying virtual goods inside their favourite games but these good just stay locked up inside the games.
By tokenizing these virtual goods and building a platform where they can be exchanged inside a market place, companies can actually create the needed level of trust and ease transfer.
“It starts to shift things like games from being based around kind of free to play and selling virtual goods to almost like a marketplace or a market driven economy.”
He also mentioned how, OMNI, eases ‘old gaming’ PC and ‘burning up a bunch of electricity’ mining procedure by allowing people to sell stuff on the platform and actually earn XRP.
Ripple & MoneyGram: is the partnership bullish for XRP?
One of the big stories of the past 24 hours is Ripple’s announcement of a partnership with MoneyGram. However, as with anything Ripple-related, the community is split on how important this will be.
The rumor of Ripple partnering with international payments giant MoneyGram was first circulated back at the start of June. There did appear to be a slight increase in the XRP price in response, but perhaps not significant enough for there to be a definite correlation.
With the partnership now officially confirmed, XRP is up again for the 24h period, but only by 4 percent or so. This is generally in line with the rest of the crypto market, which has risen along with BTC’s breaking through new resistances above $9k. In general, XRP has underperformed as an asset in 2019, although some traders see bright things in its future.
Ripple (XRP/USD) forecast and analysis on June 18, 2019
Cryptocurrency Ripple (XRP/USD) is trading at 0.4286. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Ripple. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.
Ripple (XRP/USD) forecast and analysis on June 18, 2019
As part of the Ripple course forecast, a test level of 0.4180 is expected. Where should we expect an attempt to continue the growth of XRP/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 0.4560. The conservative Ripple buying area is located near the lower border of the Bollinger Bands indicator strip at 0.3860.
Cancellation of the option to continue the growth of the Ripple rate will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotes pair below the area of 0.3820. This will indicate a change in the current trend in favor of the bearish for XRP/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.
Ripple (XRP/USD) forecast and analysis on June 18, 2019 implies a test level of 0.4180. Further, growth is expected to continue to the area above the level of 0.4560. The conservative area for buying Ripple is located area of 0.3860. The cancellation of the option of cryptocurrency growth will be a breakdown of the level of 0.3820. In this case, we should expect the continuation of the fall.
Ripple (XRP) Price Starts Fresh Rally: Bulls Aiming for $0.47 and $0.48
Ripple price started a fresh rally above the $0.4360 and $0.4460 resistance levels. XRP is forming a bullish pattern and it could continue to rise above $0.4500 and $0.4600.
- The price rallied sharply and traded to a new multi-day high above the $0.4620 level.
- XRP is trading inside a breakout pattern with resistance at $0.4510 on the 30-minute chart.
- Ripple price could climb higher sharply once it clears the $0.4510 and $0.4560 resistances.
Ripple Price Analysis (XRP to USD)
Recently, bitcoin price surged to a new 2019 high above the $9,300 level, lifting the market sentiment for Ethereum and ripple. XRP/USD broke a few important resistances near $0.4360 and $0.4420 to start a strong upward move.
Click to Enlarge Chart
Looking at the 30-minute chart of XRP/USD, the pair settled above the $0.4460 pivot level and the 25 simple moving average (30-minute chart). The bulls gained strength and were successful in pushing the price above the $0.4560 and $0.4600 levels.
A new weekly high was formed at $0.4641 and the price recently corrected lower. It broke the $0.4560 support plus the 23.6% Fib retracement level of the upward move from the $0.4260 low to $0.4641 high.
However, the decline was protected by the previous swing high at $0.4440. Moreover, the price remained well bid near $0.4460 and the 25 simple moving average (30-minute chart).
The 50% Fib retracement level of the upward move from the $0.4260 low to $0.4641 high also played its role very well. At the moment, XRP price is trading inside a breakout pattern with resistance at $0.4510 on the same chart.
If there is an upside break above the $0.4510 and $0.4550 levels, the price is likely to start another increase towards the $0.4600 level. The next key resistances are $0.4640 and $0.4650, above which the next stops for the bulls could be $0.4700 and $0.4720.
On the downside, an immediate support is near the $0.4440 level. If ripple price fails to stay above $0.4440, it could correct lower towards the main support at $0.4340 and a connecting bullish trend line on the same chart.