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Ripple (XRP/USD) forecast and analysis on December 7, 2018

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Cryptocurrency Ripple (XRP/USD) is trading at 0.3344. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Ripple. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.

Ripple (XRP/USD) forecast and analysis on December 7, 2018

As part of the Ripple course forecast, a test level of 0.3470 is expected. Where should we expect an attempt to continue the fall of XRP/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 0.2900. The conservative area for Ripple sales is located near the upper border of the Bollinger Bands indicator at 0.3600.

Ripple (XRP/USD) forecast and analysis on December 7, 2018

Cancellation of the option to continue the decline in the Ripple rate will be a breakdown of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closing of quotations of the pair above the area of ​​0.3820. This will indicate a change in the current trend in favor of the bullish XRP/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Ripple (XRP/USD) forecast and analysis on December 7, 2018 implies a test level of 0.3470. Further expected to continue falling into the area below 0.2900. The conservative area for selling Ripple is located area of 0.3600. Cancellation of the option of falling cryptocurrency will be the breakdown level of 0.3820. In this case, we can expect continued growth.

 

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Ripple Confirms Bank of America Is Customer That Has Been Testing XRPL-Based Product

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A Ripple’s rep has confirmed that BoA has been its customer since 2016 but only this year started testing its XRPL-based technology-

Previously, U.Today reported rumors that the Bank of America (BoA) was hiring a high-ranking executive (a Treasury Product Manager) for running a ‘Ripple project’.

Now, CoinDesk has confirmed that information, after talking to Ripple’s spokesperson.

Ripple works with Bank of America

In the summer 2019, the BoA filed a patent for a blockchain-based product titled ‘Ripple’. The community back then seemed intrigued and discussed the issue with agitation.

Now, CoinDesk reports that Ripple’s spokesperson has confirmed to them that BoA is a customer that had not been announced earlier.

“Bank of America has been part of Ripple’s Global Payment Steering Group since 2016 and we did a pilot with them.”

No more further details from Ripple were shared and the BoA provided no comment on that either.

Previously, it was only known that BoA is part of the group that advises RippleNet on certain issues to do with standards.

As mentioned above, earlier in October, BoA posted a vacancy for a team lead to run a ‘Ripple project’, and this takes the collaboration of BoA with Ripple much further than just consulting or doing a pilot.

Bank of America does not plan on using XRP yet

BoA seems to have tested Ripple’s xCurrent system, which does not use XRP which powers another Ripple product – xRapid. After a recent rebranding, many believe that xRapid now bears a different name and is titled On-Demand Liquidity.

Among other major customers of Ripple who use xCurrent are PNC, American Express and Santander.

As for xRapid and XRP, the biggest player that has integrated those recently, is the global payment network MoneyGram.

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Ripple (XRP) Price Is Following Uptrend: BTC & ETH Continue To Struggle

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  • Ripple price started a fresh increase and it surged above $0.3000 against the US dollar.
  • The price is currently correcting higher after trading to a new monthly high near $0.3040.
  • Earlier, there was a break above a declining channel with resistance near $0.2860 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price is slowly correcting lower and it could find bids near the $0.2940 and $0.2920 levels.

Ripple price is moving nicely in a positive zone against the US Dollar and bitcoin. XRP price remains in an uptrend above $0.2900, while ETH and BTC are struggling.

Ripple Price Analysis

Yesterday, we saw a downside correction in ripple below the $0.2850 support area against the US Dollar. XRP price traded as low as $0.2783 and recently started a fresh increase. It is up more than 4% and cleared many hurdles near the $0.2900 and $0.2920 resistance levels. Moreover, there was a close above the $0.2900 level and the 100 hourly simple moving average.

During the rise, there was a break above a declining channel with resistance near $0.2860 on the hourly chart of the XRP/USD pair. The pair gained momentum above the $0.2950 and $0.3000 resistance levels. A new monthly high is formed near $0.3040 and the price is currently correcting. It is trading below the 23.6% Fib retracement level of the recent wave from the $0.2783 low to $0.3040 high.

On the downside, an immediate support is near the $0.2940 level. However, the main support is near the $0.2920 level. Additionally, the 50% Fib retracement level of the recent wave from the $0.2783 low to $0.3040 high is also near the $0.2915 level to provide support. If there are more downsides, ripple price could revisit the $0.2880 support area and the 100 hourly SMA.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 50 level.

Major Support Levels – $0.2940, $0.2920 and $0.2880.

Major Resistance Levels – $0.3000, $0.3020 and $0.3040.

Source:newsbtc

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Ripple (XRP) Price Is Following Uptrend: BTC & ETH Continue To Struggle

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  • Ripple price started a fresh increase and it surged above $0.3000 against the US dollar.
  • The price is currently correcting higher after trading to a new monthly high near $0.3040.
  • Earlier, there was a break above a declining channel with resistance near $0.2860 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price is slowly correcting lower and it could find bids near the $0.2940 and $0.2920 levels.

Ripple price is moving nicely in a positive zone against the US Dollar and bitcoin. XRP price remains in an uptrend above $0.2900, while ETH and BTC are struggling.

Ripple Price Analysis

Yesterday, we saw a downside correction in ripple below the $0.2850 support area against the US Dollar. XRP price traded as low as $0.2783 and recently started a fresh increase. It is up more than 4% and cleared many hurdles near the $0.2900 and $0.2920 resistance levels. Moreover, there was a close above the $0.2900 level and the 100 hourly simple moving average.

During the rise, there was a break above a declining channel with resistance near $0.2860 on the hourly chart of the XRP/USD pair. The pair gained momentum above the $0.2950 and $0.3000 resistance levels. A new monthly high is formed near $0.3040 and the price is currently correcting. It is trading below the 23.6% Fib retracement level of the recent wave from the $0.2783 low to $0.3040 high.

On the downside, an immediate support is near the $0.2940 level. However, the main support is near the $0.2920 level. Additionally, the 50% Fib retracement level of the recent wave from the $0.2783 low to $0.3040 high is also near the $0.2915 level to provide support. If there are more downsides, ripple price could revisit the $0.2880 support area and the 100 hourly SMA.

On the upside, an initial resistance is near the $0.3000 and $0.3020 levels. If there is a successful close above $0.3020, the price could surge above the $0.3040 and $0.3050 levels in the near term. The next stop on the upside is near the $0.3100 level.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is showing a lot of positive signs above the $0.2920 support area. Therefore, there are high chances of a decent upward move above the $0.3000 in the coming sessions. Only a close below $0.2880 may perhaps negate the current positive bias and start a fresh decline.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is gaining strength in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 50 level.

Major Support Levels – $0.2940, $0.2920 and $0.2880.

Major Resistance Levels – $0.3000, $0.3020 and $0.3040.

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