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Ripple: XRP price prediction 2019: To the moon or to the depths of the abyss?

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XRP seems to be doing well for itself ever since it overtook Ethereum [ETH] to become the second-largest cryptocurrency in the world [by market cap].

Ripple, on the other hand, has also performed splendidly, considering its partnerships with a plethora of banks and FIs around the world. Ripple wants to build an ecosystem on the RippleNet for remittance and cross-border payments, and it plans on doing the same by leveraging the cryptocurrency XRP.

In the long-term, Ripple will emerge as a winner and along with it will rise XRP, considering the developments going on Japan’s SBI Group and SBI Holdings, which are planning to disrupt and reshape the whole of Japan’s payments industry with XRP as a tool to accomplish it.

The road so far:

2017

The year 2017 was the year of the bulls which projected the prices of every cryptocurrency in the ecosystem to plummet to unfathomable depths. XRP attained a price of $3.349 per token and the market cap at this point reached $145 billion on January 04, 2018, right after Bitcoin hit its peak on December 17, 2017.

2018

Most analysts in the market expected Bitcoin and every other cryptocurrency to pump higher. While some people in the XRP community believed that the price will shoot up from here to $10, others were mesmerized by BearableGuy123, Ripple and XRP’s very own jester, who put out riddles, and people interpreted the price of XRP to reach an appalling $589 by the end of 2018.

Most of the people in the community thought that it would be possible due to Ripple’s payment solution xRapid, which leverages XRP as a bridge currency to perform cross-border payments.

Brad Garlinghose, the CEO of Ripple, said in one of his interviews:

“I’ve publicly stated that by the end of this year I have confidence that major banks will use xRapid as a liquidity tool, this calendar year. By the end of next year I would certainly hope we would see in the order of magnitude of dozens.”

This statement of Brad Garlinghouse made people believe in the jester.

Another reason why people expected the price to reach $589 or “$5.89” was due to Ripple’s plan to launch “Cobalt” which, according to the Ripple, would drastically decrease the already fast transaction time.

People in the community speculated that since Cobalt’s mass number is 58.9, the price could inadvertently reach $589 or $58.9 or $5.89 by the end of the year.

As the year 2018 came to an end, some people admitted that it wouldn’t happen, while others still believed that $589 is attainable.

There were some massive improvements and updates that the company Ripple had provided, like the signing up of 200+ banks. More than five banks across the world have started using the xRapid payment solution now. MercuryFX successfully transferred money across the border using xRapid recently.

2019

Apart from the above, R3’s Corda Network was turned on, which will use XRP as a settlement currency. R3 announced that it had crossed more than 280+ partnerships, which included a couple of central banks.

SBI Holdings, a consortium of banks across Japan, announced a partnership with R3 and set-up a joint venture to improve Japan’s payment industry.

What to expect?

The XRP community speculates that the partnership between SBI Holdings, R3, and Ripple puts XRP smack in the middle of  SBI CEO’s [Yoshitaka Kitao] plans to launch XRP across Japan in efforts to reshape and restructure their payment system before the Osaka Expo 2025.

Technicals

Daily Chart

The chart below shows the year 2018 so far and how the cryptocurrency XRP has performed over the year 2018. A strong downtrend can be seen hanging over the XRP daily price chart that extends from January of 2018 till date.

The one-day chart shows the formation of two distinct falling wedges for XRP as seen in the chart above. Falling wedges are usually trend reversal patterns that indicate a breakout depending on where there are formed.

The first wedge spanned 256 days and the breakout that occurred pushed the prices by 192% i.e., the prices shot up from $0.26 to $0.76. The second wedge has so far ranged for 141 days and a breakout might happen at any moment. There is, however, a possibility of prices moving sideways for a couple more days.

If the breakout happens, it could drastically increase the price of XRP to two possible levels, the first $0.5798, and the other level, a bit higher than before, $0.7971, which is the highest point of the wedge.

Weekly Chart

The longer time-frame for XRP shows a very different scenario as the prices are forming a descending triangle pattern, and as per the definition, it is a bearish signal.

The volume for the weekly chart also shows a declining trend, further substantiating the descending triangle pattern. The prices might dip in the upcoming days as the price might dip a little lower, possibly to the $0.18 to $0.14 range.

This range could be the capitulation range and there is a probability that the bull run might begin after the weak hands get out of the market.

Market Sentiment

The Ripple and XRP community is particularly fond of XRP and are expecting the prices to the moon due to the success of xRapid. As per recent unfoldings, many banks have started using xRapid.

Moreover, SBI Holdings has partnered with Ripple and R3 and is on a plan to disrupt the Japanese payment industry and simultaneously reshape the payments infrastructure. SBI plans to leverage XRP to make it happen and the CEO of SBI, Yoshitaka Kitao has very ambitious plans to make that happen by 2025.

Considering all the above facts, it can be said that the price of XRP could very well disregard the Technical Analysis and shoot up higher, breaking all the resistance points and maybe even crossing the previous highs at $3.65 when xRapid goes into full effect, or when FIs and Corporate players start using Corda.

Source:AMBCrypto

Ripple

Ripple (XRP) May Face Grim Future Despite Today’s Bounce

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Earlier this past week Ripple (XRP) along with the aggregated crypto markets faced an incredibly sharp sell-off that sent XRP reeling down to lows of $0.25, which marked a significant pullback from the mid-$0.30 region where it has previously found stability.

Although the crypto was able to post a small bounce today, analysts are still noting that XRP broke below its 2018 support level, which could mean that significantly further losses are imminent.

Ripple (XRP) Finds Support Around $0.25

At the time of writing, Ripple is trading up just over 1% at its current price of $0.265, which marks a slight increase from its daily lows of just below $0.26.

This past Wednesday, XRP incurred a significant influx of selling pressure that sent its price reeling down from over $0.30 to lows of roughly $0.25, at which point it found some strong support that allowed it to climb slightly higher.

It now appears that the $0.25 region is a strong level of support, as it has bounced each time that it has visited this region.

Importantly, unlike many other major altcoins, XRP is currently trading below its 2018 lows, and has now set a fresh low since it first began its downwards ascent from highs of nearly $4.00 in early-January of 2018.

Will XRP Drop Further in Near-Future?

Although analysts are not sure what has been the root cause behind Ripple’s lackluster price action throughout 2019, some investors have pinned it on regulatory concerns regarding its potential status as a securities product, which others have linked it to Ripple – the FinTech company closely associated with XRP – offloading massive amount of XRP onto the markets each quarter.

Regardless of what the cause might be, The Cryptomist, a popular cryptocurrency analyst on Twitter, noted in a recent tweet that the recent drop marked a break below its 2018 support level, which could mean further losses are imminent.

“$XRP: Relieved I sold last week!  Support from August 2018 has now broken. However, I am adding some here as we potentially have a falling wedge here. Breakout would test previous support,” she explained while referencing the below chart.

As the week wraps up, it is unclear as to whether or not Bitcoin’s price action will guide that of Ripple’s, or if the crypto will operate on an individual basis as it continues to face intense selling pressure.

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Ripple’s XRP price forecast: XRP/USD pair trades on low volatility

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On the 4-hour chart, Ripple (XRP) is still trading on the downside, although the price action has remained intact within the descending channel.

  • The price of Ripple (XRP) is up by 1.34% in the last 24 hours, although trading remains in the descending channel.
  • Ripple’s XRP bulls seemed to be assuming control of the market following the recent price increase

In the last 24-hours, the entire crypto market has seen a little shake-up, making the top coin projects to recover their recent low. Ripple’s XRP price has jumped up a bit to the $0.269 leaving the $0.26 area, where the market was trading in a consolidation mode, yesterday. The 3rd best performing cryptocurrency has shown a sign of strength from the bull sides with a current price gain of 1.34%.

Today, Ripple (XRP) has resumed back in the middle of consolidation after a slight drop from near the $0.27. The price is now roaming around the $0.265 price level. If the market continues the surge and squeeze, the, $0.27 is likely to surface in the next few positive moves. More so, the XRP/USD pair might further look for higher price levels if the bulls continue to show commitment.

Ripple (XRP)’s Current Statistics

Trading Price: $0.265

Market Capitalization: $11,397,672,418

Trading Volume: $1,002,231,510

Key Resistance Levels: $0.27, $0.28, $0.29

Key Support Levels: $0.25, $0.24, $23

Ripple Price Prediction August 17, 2019

On the 4-hour chart, Ripple’s XRP is still trading on the downside, although the price action has remained intact within the descending channel. The August 15 Doji candle (bullish candle formation) has eventually played out well. While the price of XRP is now above the $0.26, we can expect the next level of resistance at $0.27, $0.28 and $0.29 on the upside.

Ripple XRP technical price analysis chart
XRPUSD, 4H Price Chart – August 17, 2019

However, the market is currently displaying a sign of subduing volatility with choppy price action. Taking a look at the price chart, we can see the trading volume is still fading. If the XRP/USD pair continues to stay under the control of bear radar, the price may roll back to previous supports at $0.26, $0.25 and $0.24 levels. It’s important to note that the Ripple (XRP) market remains on a long-term bearish trend.

Conclusively:

Following the August 15 bear surge, we can see the Ripple’s XRP is struggling to produce significant price action due to low trading volume in the market. If the market becomes volatile in favor of the bulls, the price may surpass the $0.30 level. In support of the bears, the price actions will remain in the channel boundary.

Technical Indicator Reading

RSI for Ripple (XRP) has managed to climb back above the oversold level. The market will rise if the RSI keep trending higher.

The Stochastic RSI has reached the highest condition. We can expect selling pressure when the indicator turns downward.

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Leading tech site adds web monetization via Ripple-powered Coil

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Coil is a brainchild of Stefan Thomas who is the former CTO of Ripple.

CSS-Tricks, a leading tech blogging site included Ripple-powered Coil’s web monetization feature to its platform to enable micropayments. The website finds Coil as one of the best solutions which stand over and above the other micropayment platforms that CSS-Tricks had already tried in the past.

CSS-Tricks Adds Coil’s Web Monetization
It’s worth noting that, Coil is a brainchild of Stefan Thomas who is the former CTO of Ripple. Mr.Thomas developed Coil to help content creators in the monetization of content across the internet. Coil works via an open API called “Web Monetization” for content creators and a browser-extension for users.

Meaning that, as the fan subscribes to a content creator’s platform, they can make micropayments from their browser and in return Coil uses this API to stream micropayment to content creators such as journalists, podcasters, video creators, musicians, artists, photographers or streamers in real-time.

As for CCS-Tricks, it offers extensive information about CSS, HTML, JavaScript, and other similar terminologies. The platform as launched back on July 04, 2007 by Chris Coyier, a front-end developer, designer and a co-founder of CodePen.io.

CSS-Tricks using Coil running on Ripple got announced by Chris Coyier via his Twitter profile. He tweeted:

According to the detail blog post published on CSS-Tricks, the team found Coil as a compelling solution. The blog reads that;

The coil is nicely designed. It’s the service that readers subscribe to and a browser extension (for Chrome and Firefox) that pays publishers.

Moreover, appreciating the anonymity aspect of Ripple-supported Coil, Chris states that;

The coil is nicely designed. It’s the service that readers actually subscribe to and a browser even though everyone is anonymous, I can still do things for the supporters, like not show ads. tension (for Chrome and Firefox) that pays publishers. Chris went on to say; Even though everyone is anonymous, I can still do things for the supporters, like not show ads.

The money by integrating Coil’s web monetization will end up in a “Stronghold account,” and content creators have to just add one tag on their site tag in the . The subscribers or fans can just add the Ripple’s Coil’s browser extension and start sending micropayments to Content creators directly via Coil extension. Chris further outlines that;

The big hope is that this becomes a decent source of revenue once this coerces a web standard and lots of users choose to do it. My guess is it’ll take years to get there if it does indeed become a winning player.

Following Chris’s Tweet, Stefan Thomas also went on Twitter and wrote, one of his favorite sites added Web Monetization.

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