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XRP Seems to Have a Very Prosperous Future In the Financial World as Ripple Continues Inking Deals

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There are many different companies that are currently operating in the cryptocurrency market. One of them is Ripple, that is trying to offer services to financial institutions around the world, including banks. With its wide range of services and products, Ripple is allowing firms to reduce costs and transaction times every single time they want to process cross-border payments.

The current system for sending funds around the world is very costly and it takes long periods of time. However, things are getting easier, cheaper and faster with the XRP digital asset.

Although we have been in a downtrend since the beginning of January 2018, XRP seems to be well positioned for the future. During the second half of 2018, the market dropped even further but XRP was able to remain relatively stable during this bear trend.

There are several exchanges that are using the digital currency in order to reduce transaction costs and allow individuals to have an easier way to move funds from one place to another. There are also several financial companies that are ready to use XRP and offer better services to their clients.

The number of transactions on the Ripple network has been growing during the last months. On January 29, XRP reached 875,057 transactions. This is the largest number of XRP transactions processed since September 2018.

If there is a growing demand from banks and institutions around the world, the price of the XRP digital asset is also expected to grow. The virtual currency is able to scale up to 1,500 transactions per second (TPS) compared to Bitcoin that can only handle 7 TPS.

Additionally, Ripple has been working in order to expand the network of partners that it has all over the world. It has invested around $300 million in a RippleNet accelerator program that provides incentives to institutions that promote Ripple and its payment system.

Moreover, during 2018, the company sold $535.5 million of XRP to the market. $40 million was sold to institutional investors and $89 million through crypto exchanges during the last quarter of 2018.

It is also worth mentioning that there are some partnerships and developments associated with Ripple that allow investors to be bullish about the future of XRP. Binance started to offer XRP-based trading pairs at the exchange, one of the largest around the world in term of trading volume.

CoinGate, a crypto payment processor, has also added the XRP digital asset as an option for merchants to accept payments. Furthermore, TransferGo explained that they want to become a company that processes real-time payments. Thus, they mentioned that they see Ripple as a strategic partner to achieve this goal.

At the time of writing this article, XRP is the third largest cryptocurrency in the market. The virtual currency was in the second positions in terms of market capitalization but Ethereum(ETH) was able to take its place. Each XRP can be purchased for $0.307 and it has a market cap of $12.65 billion according to CoinMarketCap. Ethereum has a market cap $20 million dollars’ larger than the one of XRP.

Source.bitcoinexchangeguide

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XRP

XRP/USD Price Analysis: Prices stagnate as the bears and the bulls continue to brawl

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XRP, once the second largest cryptocurrency is now the third largest in terms of market cap on CoinMarketCap. The price of XRP at press time was $0.3079, with a market cap of $12.4 billion.

The 24-hour trading volume is low when compared to competing cryptocurrencies and at $412 million, most of the volume for XRP comes from the exchange ZB.COM via the trading pair XRP/USD.

1 Hour

 

Source: TradingView

The one-hour chart for XRP shows an uptrend that extends from $0.2952 to $0.3046, while the downtrend ranges from $0.3334 to $0.3093. The support at $0.2928 and $0.3038 are both holding the prices from falling. The price of XRP is currently bouncing off the resistance at $0.3160.

The Parabolic SAR markers are forming above the price candles indicating a bearish pressure on the prices.

The MACD indicator shows a crossover to the top, as the MACD and the Signal line are undergoing a bullish crossover. The histogram shows increasing green bars developing over the zero-line.

The Awesome Oscillator shows the same projections as the MACD, as it has also undergone a bullish crossover. The green bars developing over the zero-line indicates an increasing momentum.

1 Day

Source: TradingView

The longer time frame for XRP shows a dominant downtrend with no signs of a strong uptrend evolving. The downtrend extends from $0.9027 to $0.313. The support at $0.2587 is the only thing holding the prices from spiraling downwards. The resistance points at $0.5836, $0.6880 and $0.9027 will be tested soon considering how the prices are behaving.

The Aroon indicator shows a simultaneous increase of both the uptrend and the downtrend as the Aroon green and the red lines are both heading upwards.

The Chaikin Money Flow indicator is still below the zero-line indicating that the sellers are still pressuring the buyers i..e, the money is still flowing out of the market.

The Relative Strength Index shows the same scenario as the CMF as the RSI line is below the 50-line. This indicates that the sellers are dominant in the XRP market.

Conclusion

The one-hour chart shows bullish signs for the shorter time frame as confirmed by the MACD and AO indicator, contrary to the bearish indications of the the SAR indicator. The Aroon, CMF and the RSI all indicate a stagnant and sideways motion with a slightly bearish outlook for XRP in the longer term.

Source. ambcrypto

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XRP/USD Price Analysis: Bulls carry coin ahead while bear sharpens its claws

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The cryptocurrency market had been under the bear’s vice and this contributed to XRP slipping from its second position on CoinMarketCap in terms of market cap, to third this month. Ethereum [ETH] took over XRP’s place in the market and it appears that the two coins are in a tough fight for the spot.

At press time, XRP was valued at $0.3032, with a market cap of $12.4 billion. The coin registered a 24-hour trading volume of $407 million, with a minimal fall of 0.27% over the past day. The coin noted a growth of 3.55% over the past seven days while registering a rise of 0.17% over the past hour.

1-hour

 

Source: TradingView

The coin’s one-hour chart indicates a downtrend from $0.3215 to $0.3128, followed by another downtrend from $0.3176 to $0.3093. XRP drew a resistance at $0.3107 and a support at $0.3059.

Bollinger Bands appear to be converging, indicating reduced volatility in the market. The moving average line is under the candles, suggesting a bullish trend.

Awesome Oscillator points towards a weakened bullish momentum.

Chaikin Money Flow has the marker above the zero-line, indicating that money is flowing into the market and that a bullish ride may be in the offing.

1-day

Source: Trading View

Source: TradingView

The one-day chart of the coin marks an uptrend from $0.2707 to $0.4785 and a downtrend from $0.5558 to $0.4785. The coin traced resistance at $0.3276 and support at $0.2926.

Parabolic SAR points towards a bearish reign as the markers have aligned themselves above the candlesticks.

MACD line is over the signal line, marking a bullish market.

Relative Strength Index indicates that the buying and the selling pressure are evening each other out.

Conclusion

As per the indicators, Bollinger Bands, Awesome Oscillator, Chaikin Money Flow and MACD, a bullish trend is forecast. However, the lingering presence of the bear cannot be ignored.

Source. ambcrypto

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XRP Twitter Troll Bots Attempt To Scam Ripple Investors By Claiming Abandoned Development Team

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XRP FUD Hits Twitter With Bots Claiming That The Development Team Quit

The popular digital asset XRP has been affected by a new FUD campaign on social media, specifically on Twitter. During the last few days, several bots started to write to several users that the development team has abandoned the project for another one. Although it might not be the only reason, XRP lost the second position as the largest cryptocurrency in the market after being surpassed by Ethereum (ETH).

Random users on Twitter started to tag XRP community members explaining to them that developers were abandoning the project. Clearly, this is something that did not happen. At the same time, these accounts suggested users not to purchase XRP or sell if they had some XRP coins.

Some of the accounts to which one of the bots was writing to were recently created. The bot that has as name Ernest Lipscomb writes that she saw that the user followed XRP on Twitter, thus considering this user an XRP holder. After it, she advises selling the coins right away due to the development team quitting Ripple to create another project.

At the same time, these bots were using the Ripple and XRP words as synonyms, when Ripple has explicitly requested the community to clearly distinguish the differences between Ripple, the company, and XRP, the digital asset.

Active XRP members have reported this activity to Twitter, which has yet not blocked most of these accounts. Until now, there are no individuals or groups behind this situation and attack to the XRP community.

At the time of writing this article, XPR is being traded around $0.304 and it has a market capitalization of $12.55 billion.

Source.bitcoinexchangeguide

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