Ripple (XRP) is more likely to catch enthusiasts unaware when it goes bullish, although a bullish divergence signal is playing out against the Bitcoin market on the daily chart.
Following the 2019 opening, Ripple’s XRP has remained one of the top cryptocurrency projects displaying a low performance despite the first half of the year’s bull market. In fact, the price of XRP has remained in a perpetual bearish mode since late 2018.
Up until now, the market is trading below the $0.30 after falling sharply below the yearly low in mid-August. This shows that a short position is still opened, but the future might come with an unexpected bullish move.
However, the XRP community might be losing hope due to the price depreciation over the past months. But considering the Ripple’s use case – RippleOne, the future is bright for XRP holders as massive adoption of the prospect is more likely to boost up the value of the digital currency significantly.
As revealed today by JOKER, a twitter crypto analyst and predictor, saying: XRP is about to get holders rekt if they keep shorting as a bullish divergence plays out against Bitcoin pair. The analyst stated that short position should be closed for now as traders should open a long position on the cryptocurrency.
Technically, the bullish divergence is a healthy reversal pattern and a most reliable signal for a change in trend. The signal is common with the RSI (relative strength index) and the MACD (moving average convergence and divergence) indicators.
Following the reactions to this tweet, it appeared that holders are still very optimistic on Ripple’s XRP despite the current value of the cryptocurrency to avoid FOMO – Fear of Missing Out. Although some analysts still believe that the price will drop a bit before fueling a bull-run.
In our own opinion, Ripple (XRP) is more likely to catch enthusiasts unaware when it goes bullish, although a bullish divergence signal is playing out against the Bitcoin market on the daily chart.
Considering the current Ripple’s statistic on the market cap, the value of XRP may appreciate if the trading volume can remain above $1 billion. But if the market continues to fall below August low, traders may continue to go short because of FUD – Fear Uncertainty and Doubt.
Ripple’s Community Shows Interest in Forking XRP Into “RippleOne”
What better way to kick off a new week in the crypto industry than by having some potential drama. While Ripple and XRP are prominent entities in the industry, a lot of people have a genuine dislike for both. Things have gotten out of hand recently, as Crypto Bitlord claims he will effectively fork XRP. There is even a Discord channel created for this specific purpose, albeit it seems unlikely much will come of it.
The XRP Fork Plan
While it is not uncommon in the cryptocurrency industry to fork existing projects, most of these ventures are never overly successful. In the case of Bitcoin, there have been so many spin-offs that most people have stopped bothering to keep track of it all. Ethereum also has its own fork, as do numerous other cryptocurrencies on the market today. Surprisingly, it now seems XRP may be added to this list in the near future, assuming the speculation and rumors on Twitter will effectively lead to some plan of action.
If Crypto Bitlord is to be believed, there will be a fork of XRP in the very near future. The new fork will be known as RippleOne and aims to disrupt the existing ecosystem as a whole. Why anyone would try to fork a project which isn’t even a traditional cryptocurrency in the first place, remains rather unclear. It appears this particular user is not too pleased by the way XRP has performed in recent months, although the same can be said about all cryptocurrencies, tokens, and assets on the market right now.
The Discord Channel Goes Live
As is often the case in the cryptocurrency industry, an idea like this tends to get some attention sooner or later. There appear to be many XRP holders who are displeased with how Ripple is handling the sale of XRP through its escrow contracts. Even though that move was designed to bring more legitimacy to the project as a whole, it seems a lot of people don’t understand the purpose of taking this approach. There are also concerns as to how Ripple is effectively pushing the XRP price down by continually selling these locked assets every single month.
As the RippleOne concept gains more traction, it now appears there is a dedicated Discord channel for like-minded users to come together. Although this is a big step in the right direction toward creating RippleOne, it doesn’t necessarily mean an XRP fork will ever occur. More often than not, this is merely smoke and mirrors to try and cause a ruckus. Effectively forking a project and making it successful is a lot more difficult than people might expect. If it wasn’t, everyone would so at their leisure, which is the last thing the cryptocurrency industry needs.
Would it Even Pose a Threat?
To this date, no one can deny Ripple has seen its fair share of success over the past few years. While it is true XRP has lost tremendous value compared to its multi-dollar all-time high, the same goes for most of the markets today, with the exception of Bitcoin. Even that currency is down by nearly 50% compared to its all-time high of late 2017. There is no reason to believe these markets will not recover in due time. That being said, not everyone has the patience of a true holder, which is only to be expected under the current circumstances.
Even if this XRP fork were to be created, one has to wonder if it can pose a legitimate threat. Since everyone knows RIpple and XRP by now, it seems unlikely RippleOne will make much of an impact. Moreover, Ripple has the partnerships necessary to become a successful company, whereas RippleOne would have to start from scratch. There are far easier projects to fork if developers want to make a quick buck, as going after XRP will involve a lot of patience and hard work.
Ripple’s XRP technical analysis: XRP/USD bulls are lifeless with a position to capitalize to the north
- Ripple’s XRP price on Monday is trading marginally in the green, up some 0.20%.
- XRP/USD price action is moving in consolidation mode, sitting just above a breakout pennant structure.
- Upside appears to be very much capped by resistance within the $0.2600 price area.
Spot rate: 0.2542
Relative change: -0.65%
|Today last price||0.2611|
|Today Daily Change||0.0004|
|Today Daily Change %||0.15|
|Today daily open||0.2607|
|Previous Daily High||0.2647|
|Previous Daily Low||0.2592|
|Previous Weekly High||0.2665|
|Previous Weekly Low||0.2511|
|Previous Monthly High||0.3308|
|Previous Monthly Low||0.2392|
|Daily Fibonacci 38.2%||0.2613|
|Daily Fibonacci 61.8%||0.2626|
|Daily Pivot Point S1||0.2584|
|Daily Pivot Point S2||0.256|
|Daily Pivot Point S3||0.2529|
|Daily Pivot Point R1||0.2639|
|Daily Pivot Point R2||0.267|
|Daily Pivot Point R3||0.2694|
XRP/USD daily chart
- XRP is sitting just above a breached bearish technical pennant, there is a lack of commitment for now.
XRP/USD 60-minute chart
- The heavy near-term supply can be observed within the $0.2600 region, as sellers remain capped within region.
Ripple (XRP/USD) forecast and analysis on September 16, 2019
Cryptocurrency Ripple (XRP/USD) is trading at 0.2627. 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 upper border of the Bollinger Bands indicator stripes.
Ripple (XRP/USD) forecast and analysis on September 16, 2019
As part of the Ripple course forecast, a test level of 0.2600 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 0.2740. The conservative buying area for Ripple is located near the lower border of the Bollinger Bands indicator strip at 0.2480.
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 0.2460 area. 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 September 16, 2019 implies a test level of 0.2600. Further, growth is expected to continue to the area above the level of 0.2740. The conservative area for buying Ripple is located area of 0.2480. The cancellation of the option of cryptocurrency growth will be a breakdown of the level of 0.2460. In this case, we should expect the continuation of the fall.