The importance of the government’s blessing for supposedly regulator-friendly cryptocurrencies like Ripple (XRP) and its horde of social media shills cannot be overstated.
Donald Trump is not a fan of crypto.
That’s all there is to that.
Donald Trump Alienates the Techno-Right
A rift between the crypto community and the alt-right community who elevated Trump is brewing if nothing else.
More than that, Democrats have a shot at swaying cryptocurrency backers who would otherwise prefer conservative policy.
For example, many cryptocurrency early adopters skew libertarian. They would prefer a conservative at the helm of the nation. But our pocketbooks come first.
Let’s not lie. This is America – we vote for our wallets.
That being the case, Ripple supporters would do better to find candidates who want to help XRP.
Instead, they spent the past day on Twitter shilling than harder ever. Some even shilled the at the president directly, as though he understands the nuances between the various flavors of blockchain technology.
Ripple’s proponents frequently defend its qualifications as a cryptocurrency, despite allegations of centralization.
It does, after all, use a blockchain (of sorts).
More centralized blockchains than Ripple have emerged and seen user adoption. Decentralization is not the only metric to judge a crypto product by.
For those who’ve used it, Ripple is speedy. Its larger goal as a bank settlement layer may be years off, but in the present, it might not be a bad idea for the cryptocurrency’s army of shills to consider what they’re saying.
Donald Trump doesn’t like cryptocurrencies. Deal with it.
You can’t expect a man to be all things to all people.
He’s got his own masters to please first.
Remember, a blockchain world puts people like Trump on an even playing field in many ways for the first time.
Therefore, they don’t have an immediate incentive to support if it seems they could feasibly get rid of it.
But let’s be real: cryptocurrency isn’t going anywhere. It’s simply not.
Anyone who hopes it might should forget about it.
Sorry Ripple Shill, But the Government Doesn’t Care
Both semi-centralized and fully decentralized blockchains have a place in the future. New middlemen will replace old ones, but the end result will be a greater variety of choice for everyone.
Donald Trump’s entire generation can stand against cryptocurrency if they like. It won’t do anything to slow down the development, spread, and adoption of the technology.
But government policy isn’t something to pin your hopes to, either, Ripple shill.
So pipe down and realize you’ve got more in common with a Bitcoin proponent than not now that the leader of the free world thinks you’re probably some kind of criminal.
Ripple (XRP) Price Is Following Uptrend: BTC & ETH Continue To Struggle
- Ripple price started a fresh increase and it surged above $0.3000 against the US dollar.
- The price is currently correcting higher after trading to a new monthly high near $0.3040.
- Earlier, there was a break above a declining channel with resistance near $0.2860 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The price is slowly correcting lower and it could find bids near the $0.2940 and $0.2920 levels.
Ripple price is moving nicely in a positive zone against the US Dollar and bitcoin. XRP price remains in an uptrend above $0.2900, while ETH and BTC are struggling.
Ripple Price Analysis
Yesterday, we saw a downside correction in ripple below the $0.2850 support area against the US Dollar. XRP price traded as low as $0.2783 and recently started a fresh increase. It is up more than 4% and cleared many hurdles near the $0.2900 and $0.2920 resistance levels. Moreover, there was a close above the $0.2900 level and the 100 hourly simple moving average.
During the rise, there was a break above a declining channel with resistance near $0.2860 on the hourly chart of the XRP/USD pair. The pair gained momentum above the $0.2950 and $0.3000 resistance levels. A new monthly high is formed near $0.3040 and the price is currently correcting. It is trading below the 23.6% Fib retracement level of the recent wave from the $0.2783 low to $0.3040 high.
On the downside, an immediate support is near the $0.2940 level. However, the main support is near the $0.2920 level. Additionally, the 50% Fib retracement level of the recent wave from the $0.2783 low to $0.3040 high is also near the $0.2915 level to provide support. If there are more downsides, ripple price could revisit the $0.2880 support area and the 100 hourly SMA.
On the upside, an initial resistance is near the $0.3000 and $0.3020 levels. If there is a successful close above $0.3020, the price could surge above the $0.3040 and $0.3050 levels in the near term. The next stop on the upside is near the $0.3100 level.
Looking at the chart, ripple price is showing a lot of positive signs above the $0.2920 support area. Therefore, there are high chances of a decent upward move above the $0.3000 in the coming sessions. Only a close below $0.2880 may perhaps negate the current positive bias and start a fresh decline.
Hourly MACD – The MACD for XRP/USD is gaining strength in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower towards the 50 level.
Major Support Levels – $0.2940, $0.2920 and $0.2880.
Major Resistance Levels – $0.3000, $0.3020 and $0.3040.
Ripple (XRP/USD) forecast and analysis on October 18, 2019
Cryptocurrency Ripple (XRP/USD) is trading at 0.2828. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Ripple. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator stripes.
Ripple (XRP/USD) forecast and analysis on October 18, 2019
As part of the Ripple course forecast, a test level of 0.2780 is expected. Where should we expect an attempt to continue the growth of XRP/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 0.3080. The conservative buying area for Ripple is located near the lower border of the Bollinger Bands indicator strip at 0.2750.
Cancellation of the option to continue the growth of the Ripple rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as the moving average with a period of 55 and the closing of quotations of the pair below the area of 0.2580. This will indicate a change in the current trend in favor of a bearish for XRP/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Ripple (XRP/USD) forecast and analysis on October 18, 2019 implies a test level of 0.2780. Further, growth is expected to continue to the area above the level of 0.3080. The conservative area for buying Ripple is located area of 0.2750. The cancellation of the option of cryptocurrency growth will be a breakdown of the level of 0.2580. In this case, we should expect the continuation of the fall.
What Ripple’s Investment in Swedish Startup Towo Labs Means for XRP HODLers
Xpring, Ripple’s investment and incubator arm, announced on Wednesday (October 16) that it had invested in Swedish startup Towo Labs, which is developing open-source firmware that will allow popular hardware wallets to provide full support for the XRP Ledger (XRPL), which means that XRP HODLers will be able to use all 17 XRPL transaction types in a secure non-custodial fashion.
Xpring’s announcement says that that Towo Labs is the team that created the extremely useful resource XRP Toolkit, which provides a “trustless, non-custodial web interface to the XRP Ledger.”
Towo Labs’ advisors include Matvey Mukha, Founder of Secalot, and Wietse Wind, Founder of XRPL Labs.
Towo Labs’ talented team consists of just three software engineers: Markus Alvila (also the startup’s founder), Patrik Sletmo, and Silas Lenz.
Alvila explained via a blog post what this strategic investment from Xpring means support for the following two projects
- Supporting All XRPL Transaction Types on Hardware Wallets.
- New XRP Toolkit with Full Hardware Wallet Support.
Featured Image Courtesy of Towo Labs