Evening Star in formation for #XRP on the weekly chart – if it gets confirmed, we go back to $0.20 that’s for sure
It is safe to say there are a lot of concerns regarding the future price of cryptocurrencies and digital assets alike. Although XRP is usually considered a stable asset in this department, the reality can be somewhat different. More specifically, its value has plummeted alongside Bitcoin, even though the XRP/BTC value doesn’t budge all that much. This is a very odd trend, although it seems unlikely the XRP price will remain above $0.3 for much longer.
XRP Price Trend Grows Very Bearish
Throughout most of 2018, XRP has been a very successful digital asset. Although it too suffers from the breakdown of both Bitcoin and Ethereum, things seemed to be on the mend first and foremost. After all, XRP has maintained its BTC value for most of the year, whereas all other assets and currencies have struggled significantly in this department. Even so, it seems that trend is no longer sufficient to keep the XRP price stable.
In the past 24 hours, there has been an 11.5% decline for the XRP price in USD value. This is despite not losing any ground in the BTC department. Unfortunately for XRP, the current bearish pressure on Bitcoin makes it impossible to sustain US Dollar gains. This will usually result in further price drops accordingly. In the case of XRP, its value dropped from $0.36 to $0.3 in the past week. That may not be the new bottom by any means either.
On social media, it seems there are a lot of discussions pertaining to XRP. As Guruprasad happily points out, a lot of top currencies and assets came a long way from their all-time high in December 2017. XRP Is one of the bigger victims, as it retraced by 82% and is still falling. It is not unlikely a further 5-10% price dip will occur in the coming three to four weeks. That is not something to look forward to, but bucking the overall market trend is pretty difficult right now.
Magic ArKaiN has an interesting technical analysis for XRP. Although the evening star formation is not something one comes across that often, it is an interesting development regardless. This pattern confirmed the XRP price would drop to $0.3 and may even result in the value dropping to $0.2 in fairly quick succession. Even a dip to $0.2 wouldn’t necessarily be too problematic for XRP, as it will remain ahead of Ethereum in terms of market cap.
Kin Dotcom paints an interesting picture most cryptocurrency and digital asset speculators need to keep in mind at all times. This is not the biggest dip the markets have seen to date. For XRP, the most recent dip hit $0.24 and the market bounced back strongly pretty quickly. As such, there is no reason to think history will not repeat itself, although one has to wonder if the remainder of 2018 will yield any positive trends first and foremost.
Why is everyone so scared? #XRP went below $0.24 in April and we all survived
As is usually the case when bearish momentum presents itself, things will undoubtedly get very interesting in the coming weeks. That doesn’t necessarily mean the situation will improve by any means, but it is still interesting to watch all of these markets evolve and deal with this ongoing price struggle. For XRP, its success in terms of xRapid and RippleNet will be beneficial in the long run and have an impact on the XRP price accordingly.
Ripple (XRP/USD) forecast and analysis on December 11, 2018
Cryptocurrency Ripple (XRP/USD) is trading at 0.3054. 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 middle border of the Bollinger Bands indicator.
Ripple (XRP/USD) forecast and analysis on December 11, 2018
As part of the forecast Ripple course is expected to test the level of 0.3150. 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 0.2650. The conservative Ripple sales area is located near the upper border of the Bollinger Bands indicator at 0.3180.
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 a moving average with a period of 55 and closing quotations of the pair above the 0.3400 area. 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 11, 2018implies a test level of 0.3150. Further, the continuation of falling to the area below the level of 0.2650 is expected. The conservative area for selling Ripple is located area of 0.3180. Cancellation of the option of falling cryptocurrency will be the breakdown level of 0.3400. In this case, we can expect continued growth.
Ripple Says Industry Needs XRP and Cross-Border Payments Overhaul As New Report Shows Extreme Delays at Swift
Ripple says a new report on extended payment delays and errors on the traditional global payments network Swift paints a stark picture on the importance of crypto, blockchain and digital assets like XRP.
A new exposé from The Guardian tracks four stories of people and charities getting thousands of dollars stuck in cross-border payment flows executed through Swift.
According to the report, the acronym SWIFT (Society of Worldwide InterBank Financial Telecommunications) has often “proved to be a misnomer.”
Charity Payment Snaffu
“Elaine and Malcolm Thompson’s charity, St Paul’s Children’s Project, pays school fees and expenses for 36 orphans in Zambia. In October they made a payment using the Swift system of £11,000 from the charity’s Barclays account to its designated bank in Zambia, but it never arrived…
Family Transfer Lost
“Martin Finnegan* was told the £2,450 sent from his Nationwide account to his mother-in-law in Russia would take an estimated three days. Three months later it was still in transit, location unknown…
Account Transfer Delayed
“In June, Jane Collins* nearly lost the home she was buying after moving to Canada because the £54,000 deposit transferred from her Nationwide account went missing. It eventually arrived six weeks later. Nationwide blamed poor communications along the chain of banks…
Holiday Deposit Refunded
“Laura Fulcher waited five months for a £500 holiday deposit to reach her Ghanaian tour operator. It was eventually refunded after the Observer contacted her bank, TSB. It also repaid associated expenses and added interest and £50 in compensation for the ‘inconvenience’.”
Ripple’s global head of strategic accounts Marcus Treacher tweeted about the new report, saying it reveals the need for a global payments infrastructure upgrade to create an efficient “internet of value.”
— Marcus Treacher (@marcus_treacher) December 9, 2018
The new system is not based on blockchain technology, which Swift has said is not ready for use in the mainstream.
Push to Convince Elon Musk and Tesla to Adopt Bitcoin Triggers Debate on XRP, IOTA and Nano
A push to unite the cryptocurrency community by convincing entrepreneur Elon Musk to adopt Bitcoin quickly sparked a debate on the speed and viability of BTC, IOTA, XRP and Nano.
A post shot to the front page of r/cryptocurrency Sunday, calling on Bitcoin and crypto believers to persuade Elon Musk to add a Bitcoin wallet to each and every Tesla on the road and in production. The post touted Tesla’s power to bring cryptocurrency to the mainstream and give drivers a new way to pay for items directly from the comfort of their futuristic supercars.
The effort follows a similar campaign by the CEO of leading cryptocurrency exchange Binance, who challenged Musk to accept cryptocurrency for the purchase of Tesla vehicles back in October.
The response to the new post on Reddit quickly transformed into a debate on the viability of Bitcoin as a payment platform, especially in comparison to cryptocurrencies such as XRP, IOTA and Nano.
The debate mirrors the complexity of the crypto market as a whole, and the ongoing search for a digital asset that truly finds a way to become a widely adopted payment platform for the mainstream.
Here’s a look at some of the responses.
“Any car might benefit from an IOTA or Nano wallet for instant fuel purchases, but Bitcoin? Nah.” – throwawayLouisa
“Since we already know that crypto is not ready for the masses, then adding this wallet would seem to mean that either 1.) Its a feature that should remain unadvertised and only usable by people looking for it, or 2.) Tesla gets to deal with the backlash when people start loading money on it, thinking it’s a great and secure new form of a Visa gift card, but then can’t figure out where their money went after keeping their private key written down on a sticky note on the dashboard.” – eldroch
“I know of other, however less known coins (yes, looking at you, Nano, XRP and others). They could add other coins as well, but let’s start with the most logical Grandaddy and proceed from there onwards, shall we?”
“It’s not logical at all to use BTC fo this purpose, for it’s self-inflicted ‘store of value’ narrative. Unless each car is going to be on that all-encompasing totally working at scale Lightning Network?” – marxxy94
If this happens it should be IOTA or Nano IMO, fuck probably something out there I don’t even know about that would be perfect. 0conf BCH would even work really well in this case.” – LiamGaughan
“IOTA is especially built for IoT and those kind of usecases. VW will implement iota based systems early 2019 to have a decent audit trail for OTA update. They also already showed a system with a car equipped with IOTA wallet and are planning to start implementing those in the coming years as well.” – lambtho
Meanwhile Musk appeared on 60 Minutes on Sunday to deliver a stern message to the US Securities and Exchange Commission, which recently settled charges against Musk and Tesla, resulting in $40 million in penalties and Musk’s ouster as chairman. The message, that he does not trust the SEC, rang true to some in the world of crypto.
— The Crypto Lark (@TheCryptoLark) December 10, 2018
Source:The Daily Hodl