- Ripple price finally reaches above $0.40, crosses barriers above $0.39 over a day
- XRP has steadily maintained its price range above $0.4 since this morning
- Tracing a bullish trend line, XRP has formed a decent support price level above $0.39
- Ripple coin is likely to see a rise if the price range remains well above $0.40
Ripple is currently trading with bullish nature against U.S.Dollar after witnessing price turbulence for a few days. Presumably, this is due to Bitcoin’s recent price rally above $12k.
Yesterday, Ripple coin kept trading in its narrow price range near $0.39. The coin had a few price spikes above $0.40 followed by quick pullbacks. Though, since 22:12 UTC yesterday, XRP has been trading above $0.40 till now. The recent positive price move seems to have strong support near $0.39. If the Ripple coin manages to remain above $0.40, further price surges are likely to take place.
Over the last 24 hours, XRP has surged from its lowest point of $0.3934 to $0.4080 with an increase of 3.70%.
XRP/USD 1-Day Price Chart by TradingView
XRP’s current price is at $0.4058 at 04:13:03 UTC, striking an increase of 2.16% over a 24-hour time span. Here, the current price is still 3.70% lagging from its 20-days SMA of $0.4214. Though the price is steadily improving as compared to its 5-days SMA of $0.3947.
The Ripple price level above $0.39, which was a key resistance till yesterday, has turned into a major support level now. It is crucial for XRP to remain above $0.40, as, a drop below the key price level can invite bearish impact.
The MACD chart for Ripple coin appears moderately volatile, especially in the later part. Despite the bullish sentiment, the MACD line is currently below the Signal line. Also, the RSI for the crypto-coin is just below 50, showing no extremities at the moment.
XRP may see immediate resistance at $0.4156 if the coin clears the resistance at $0.4053, also, it can see support levels at $0.3950 and $0.3885 if it sees bears coming in.
Ripple (XRP/USD) forecast and analysis on July 19, 2019
Cryptocurrency Ripple (XRP/USD) is trading at 0.3131. 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 July 19, 2019
As part of the Ripple course forecast, a test level of 0.3260 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 0.2430. The conservative area for Ripple sales is located near the upper border of the Bollinger Bands indicator at 0.3310.
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 bands. As well as the moving average with a period of 55 and the closing of quotations of the pair above the 0.3520 area. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In case 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 July 19, 2019 implies a test level of 0.3260. Further, it is expected to continue falling to the area below the level of 0.2430. The conservative area for selling Ripple is located area of 0.3310. Canceling the option of falling cryptocurrency will be a breakdown of the level of 0.3520. In this case, we should expect continued growth.
Garlinghouse Highlights Key Difference Between Ripple’s Tactics and Facebook’s Approach to Digital Assets
Ripple CEO Brad Garlinghouse joined CNBC’s Squawk Box to talk about Facebook’s digital asset Libra.
Garlinghouse says the massive amount of attention it has garnered is a net positive for the future of finance — despite the strong rhetoric and widespread condemnation of Facebook.
“I think on the most macro level, it’s been good for the world because it’s brought a lot of attention on a set of technologies that really can’t benefit mainstream banking, mainstream consumer experiences around banking. I think there’s a little bit of, perhaps, arrogance – maybe Silicon Valley arrogance – with how Facebook approached this, and just somewhat brazenly running into some things without checking some of the boxes.”
Garlinghouse says he agrees with Treasury Secretary Steven Mnuchin, who has issued a warning about new digital assets like Libra and the dangers of unregulated currencies.
“In order for these technologies to be used well and to be taken advantage of, it has to be done in a regulatory, compliant way. We can’t expose more risk – whether it’s terrorism financing, whether it’s money laundering. These are things that, from its core, Ripple has really been focused on making sure we’re partnering with the existing system.”
When asked why he suggests that Silicon Valley arrogance is at play, Garlinghouse responds,
“I think the conversation with regulators for Facebook started some time ago, and I think they had heard loud and clear some of these reservations, and I don’t think they took the time to address some of them.”
Garlinghouse points out that Facebook’s Libra Association, a consortium of companies that will oversee the new project, has zero banks. By failing to ask legacy players to collaborate, Facebook effectively crashed the party.
“There is a huge opportunity to change the way the world financial systems work that is very beneficial to consumers, businesses, etc. But again, it’s not competing with the banks…
David Marcus came out when he announced Libra and said, ‘This spells the end of Western Union.’ That was a huge call-to-action to the banks around the world that had been watching big tech players that they’re fearful are going to come into this space.”
Is XRP’s Future Bullish? Half A Billion Made From Dumped Tokens
Whereas the spotlight has been on Facebook’s Libra coin over the past month or so, Ripple Labs has unexpectedly earnt quite a bit, right in the middle of the ruthless bear market that had a huge impact on the crypto space last year. According to one report, the Ripple Labs successfully pocketed more than $700 million, proceeds from dumping their XRP tokens to the investors of the San-Fransico based startup.
At the start of the year, the Ripple started mining 100 billion XRP tokens as the available supply. All of these tokens were created before it was officially launched and only 20 percent of the time was it available to the public.
According to ZyCrypto, “the remaining 80% was held by the firm, its co-founders and other affiliated entities. Since then, these tokens have been dumped to investors, from time to time. Mostly, the coins are sold when Ripple needs to finance other ventures or when an affiliated firm or partner is moving on from the firm.”
For about five years now, Ripple has been dumping almost 2.5 billion tokens of XRP on a yearly basis without fail. That being said, in 2018, whereas the dumping still occurred, there was a slight change.
Most of the market had lost a lot of its value by the end of last year but Ripple’s XRP dumping helped it profit by more than $530 million.
Where do we go from here?
An altcoins future is never certain and it is still quite tricky with most investors as they are still keeping their wide eyes locked onto the performance of altcoins as time goes on. One trader, who goes under the Twitter handle @Rektcapital, took to the social network recently to say that there might actually be something for investors to look forward to in the near future:
“For the first time since December 2017, Ripple has recently rebounded from a long-standing uptrend line.”
However, according to another popular trader Peter Brandt, things might not be as bullish as they seem:
“While the parabola in BTC was subject to different renderings, the parabola in the total market cap chart was loud and clear. Total cap should correct 80%. Most of the damage of decline will occur to altcoins.”