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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

XRP

XRP surges by over 7% in an hour, as coin breaks out of bullish pattern

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XRP has been at the mercy of the bears in the market and has shown only a minimal recovery after the August 14 fall. However, the coin’s price shot up in the short term and breached its immediate resistance.

4-hour 

Source: Trading view

Source: Trading view

In the 4-hour chart of XRP, an ascending triangle was formed. After the massive fall on August 14, XRP’s price was observed to consolidate within the triangle and indicated a bullish breakout that could be underway. The breakout occurred on August 18 with the coin noting a growth of 8.26%, valuing the coin at $0.2861. The coin had not been able to recover from the fall and had been trading at $0.2698 as the green candle took the charge, at press time and pushed the price of the coin up.

1-hour

Source: Trading view

Source: Trading view

In the one-hour chart, XRP was forming another Ascending triangle pattern highlighting the bullish breakout to be imminent. Awesome Oscillator pointed towards a reduced bullish momentum, at press time and boosted the price of the coin to $0.2861, surpassing its immediate resistance that stood at $0.27.

Source:ambcrypto

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XRP

XRP breaks out of descending triangle as short-term prediction suggests further slump in price

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The price of XRP has been taking a hit since the fall of Bitcoin, and has been trading around $0.26. After the price broke on August 14, XRP had been observing alternate red and green candles, showing no sign of absolute recovery. Short-term prediction of XRP indicates a bearish pattern with no sign of relief.

12-hour chart

Source: Trading view

Source: Trading view

12-hour chart of XRP highlights breaking of a Descending Triangle pattern, indicating a further dip in price. The Descending Triangle extended for 36 days before breaking on the 37th day, noting a fall of 20.08% bringing the price of the coin to as low as $0.23. The coin made some recovery as the current price stands at $0.2654.

6-hour chart

Source: Trading view

Source: Trading view

As XRP broke the 12-hour pattern, it confirmed the bearish wave as it formed a bearish pennant in the 6-hour chart. The flagpole was formed following the August 14 fall of XRP, after which the price was noted to consolidate, converging into a pennant. According to the feature of this pattern, a breakout could be imminent for XRP taking the price of the coin back to the immediate support at $0.2368. The price has been consolidating over the past three days and could breakout within a couple of days.

Source:ambcrypto

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XRP

XRP’s chart indicates return of a bullish pattern. Could the price of the coin re-visit $0.76?

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The XRP’s price might have taken a hit over the past few days falling the Bitcoin dump. The coin has been moving towards stabilizing its price, but with the bears in the market, the recovery has been difficult. The short term prediction point towards a fall and rise trend in XRP’s price, while the long term prediction marks the return of an old fractal pattern.

1-Day

Source: Trading view

Source: Trading view

On September 2018, the price of the coin had slumped by almost 60% causing the value of the coin to slip from $0.6132 to $0.2450. The coin made a half recovery before falling further to $0.2700, while the support was marked at $0.2530. However, falling these tremendous falls, XRP bounced back hard with 184% growth taking the price of the coin to $0.7644.

Source: Trading view

Source: Trading view

Similarly, a fractal pattern was observed with the current trend as XRP trades at $0.2661, as the support stays strong at $0.2530. The crypto has been falling for the past few days and according to Awesome OScillator has a strong bearish hold.

However, like September 2018, the trend reversal could be underway making the price of the coin cross the long term resistance at 0.4744. If the XRP price re-traces the fractal pattern to a T, its price could breach the resistance and touch $0.7644.

Source:ambcrypto

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