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XRP Price Buckles as Support at 8,000 Satoshi Gets Obliterated

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With all cryptocurrency, token, and asset markets under a bit of pressure right now, it would appear things are not looking all that good. Although most markets remain in the green, there is a significant drop in XRP’s price as of right now.  The actual drop is not necessarilythat steep, but it is evident things may come under further pressure moving forward.

XRP Price Trend Enters the red Zone

Considering how most markets were under a bit of bearish pressure earlier this morning, it is not too surprising to see minor losses materialize. In the case of XRP, the current trend is slightly disconcerting, although it seems the losses will be kept to a minimum. One worrisome aspect is how the price dropped below 8,000 Satoshi again, although reclaiming that value will not pose any major challenges.

Over the past 24 hours, the net balance for XRP is slightly negative. With a 0.8% drop in USD value and a 1.1% loss over Bitcoin, the XRP price now sits at $0.3126. With a drop below 8,000 Satoshi, a fair few traders will not be too happy with the way things have gone. However, this appears to be a temporary setback first and foremost.

There is no real major news regarding Ripple or XRP to speak of. One interesting video has surfaced which seems to indicate RIpple’s trading engine is used for a particular marketplace. While that could be a bullish sign, it has absolutely nothing to do with the valuation of XRP at this time. As such, this news will – most likely – not have any impact on the price of this asset whatsoever.

ShillWave, on the other hand, is seemingly too convinced there is anything to worry about in the slightest. In fact, this user keeps accumulating XRP regardless of the overall circumstances. Cost-averaging down one’s investment is always a smart idea, especially while the bear market is still in effect.

For those who are merely interested in the price chart, it seems this sideways and slightly bearish action may remain in place for some time to come. It is evident the range is tightening, and no bullish momentum has formed for XRP so far. As such, it seems logical to assume this is the beginning of another bear trend which may spill over into the weekend.

For the time being, it seems likely more top markets will follow XRP’s momentum over the coming hours. That is not entirely abnormal, although it is not the sign most traders are looking for. XRP is also the first top market to “buckle”, which is never a fun label to deal with. It may also be the first to rebound sharply over the next few days, for all one knows.

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Ripple (XRP/USD) forecast and analysis on September 15, 2019

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Cryptocurrency Ripple (XRP/USD) is trading at 0.2549. 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 stripes.

Ripple (XRP/USD) forecast and analysis on September 15, 2019

As part of the Ripple course forecast, a test level of 0.2570 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 0.2450. The conservative sales area for Ripple is located near the upper border of the Bollinger Bands indicator strip at 0.2580.

Ripple (XRP/USD) forecast and analysis on September 15, 2019

Cancellation of the option to continue the depreciation of the Ripple will be a breakdown of the upper border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing quotations of the pair above the area of ​​0.2630. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Ripple (XRP/USD) forecast and analysis on September 15, 2019 implies a test level of 0.2570. Further, it is expected to continue falling to the area below the level of 0.2450. The conservative area for selling Ripple is located area of 0.2580. Canceling the option of falling cryptocurrency will be a breakdown of the level of 0.2630. In this case, we should expect continued growth.

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We don’t want investors to buy XRP and dump on the market

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We don’t want investors to buy XRP and dump on the market

We had a pleasant surprise on Julia Chatterley’s Twitter account today. The CNN anchorwoman published an exciting interview with Brad Garlinghouse, Ripple’s CEO, and a cryptosphere personality. In this article, we give you the gist of Mr. Garlinghouse’s intervention.

The session started talking about speculation. Mr. Garlinghouse recognized that people will always try to use any asset they can to speculate and profit when possible. Gold, oil, Bitcoin, or Ripple’s XRP it makes no difference.

Somebody will try to ride the market waves to make a buck. It’s the nature of the beast. However, in Ripple’s leader’s words, the long term value of any asset, especially when it comes to cryptocurrencies will be all about use cases and utility, not mere speculation.

When asked about Facebook’s Libra (which is the elephant in every crypto room these days) Mr. Garlinghouse said that there’s not much to tell about it for the time being. It remains an unreleased project, a white paper and nothing more, at least currently. Assessing how Libra can affect the cryptosphere is premature right now, and we’ll have to see how things go when the controversial Facebook blockchain project goes live.

Following the same line, the CEO advised potential cryptonauts to do their homework. To make sure they understand what is real in crypto and what’s not (or not yet). Does a given project have actual use cases? Does it solve a problem with its cryptocurrency or their network? Libra is a case in point because everybody is talking about it and, however, it doesn’t exist yet, and it has no apparent use cases.

Bitcoin vs. Ripple (XRP)

When asked to compare BTC to XRP, Mr. Garlinghouse said that BTC remains the leading cryptocurrency in the world and that’s very good to store value. As a payments system, however, it takes too long to process transactions, and every single one is rather expensive at approximately USD 1,00. XRP, on the other hand, is an ideal tool for settling payments because transactions are settled in about three seconds and the cost if of 1/1000 of a penny.

When asked about XRP ownership, Ripple’s man explained that the San Francisco company is indeed the most significant owner so far. The next question was about price manipulation. The answer to that was quite straightforward. Ripple is the 3rd largest cryptocurrency by market capitalization, and its daily trading volumes are in the billions. Those large volumes ensure that no single player can manipulate the market and affect the prices unnaturally.

Then Mrs. Chatterley asked about Libra again. Mr. Garlinghouse explained that it’s been a good thing so far because it’s brought a lot of new attention into the crypto world.

But he also added that trust, transparency, and reliability must be core values in the blockchain industry so the public debate about Libra, or any other digital asset, are welcome and should be embraced. He added that Facebook hasn’t made much of an effort to get on the regulator’s good books and that it could complicate things for the company as the new cryptocurrency goes live (when and if that happens).

It was an exciting interview that any cryptonaut should see because it’s very down to earth, informative, and it’s information right from the horse’s mouth, as Ripple CEO Mr. Garlinghouse is one of the world’s most prominent blockchain executives.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.


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XRP Liquidity Index surpasses all-time high at Bitso as Ripple coin crosses BTC in MXN volume

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Bitso has been a key player at helping with XRPL decentralization and implementing XRP products.

Yesterday, the founder of Bitso, a Ripple’s xRapid powered crypto exchange based in Mexico, confirmed that XRP liquidity index had surpassed all-time highs.

A prominent XRP community member on Twitter, Xrpcenter first shared this news and later on Bitso founder, Daniel Vogel confirmed that xRapid is flowing nicely through Bitso, and has surpassed the maximum level of liquidity of all time. Bitso has been a critical player at helping with XRPL decentralization and implementing XRP products.

xRapid

Ripple’s xRapid is one of the most prominent products of the blockchain firm that uses XRP as a core for making transactions. So far, xRapid has made a massive impact, and its utility is growing swiftly. Previously officials from Ripple have confirmed that more than 20 financial institutions are using xRapid. With Bitso being one of them, xRapid is positioning very well in the market. As its adoption is increasing day by day, it will have a significant impact on both Ripple and XRP.

The most friendly and promoted exchange for Ripple (XRP)

Bitso has been primarily supported, and the XRP community has responded very well. Bitso allows trading XRP at a low fee and quick transfer alternative for moving funds. XRP surpassed BTC as the most traded fiat pair on the xRapid-enabled Bitso exchange. However, as we write this, BTC/MXN have again jumped back to the 1st spot as XRP/MXN trading volume has just fallen behind BTC/MXN.

As the crypto industry continues to develop and grow, Ripple keeps stamping its authority and is attracting more investors with every day that passes. Ripple is working hard to solve real-world solutions to outdated systems, and that shows itself by seeing how much they are working with regulators and banks.

Ripple’s product is being used at various institutions, and the banking world has already admired it. Crypto analysts believe that the growth of xRapid will give a significant push to XRP in coming time.

Crypto industry is still new, and patience is needed in this game. This is once in a lifetime opportunity for the investors. Remember many didn’t believe in Bitcoin at first and made the mistake of not buying BTC when it first showed up. So, investors need to be aware of this aspect and do not make that same mistake again. Taking Ripple’s tech and team into consideration, Holding XRP is the option to go with.

Bitcoin overall is still dominant, but things are steadily changing, and Ripple’s XRP seems to be going in the right direction. Although it’s only one corridor, it starts somewhere; previously surpassing ETH in the market has shown that XRP has the potential to get bigger.

Yes, BTC is still by far the leader in terms of liquidity and widespread adoption, but the XRP community needs to believe in their ‘choice’ and stay patient. At least that what we think as things stand.

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