XRP gave the crypto community an unexpected gift when it rose by 10 percent on Tuesday. The third biggest cryptocurrency has been sluggish in its movement, barely keeping up with other top cryptocurrencies like Bitcoin (BTC). But in what resembled a rush of adrenaline, XRP astonished crypto investors when it regained strength to take back the $0.244 level. This event is so remarkable because this is the first show of strength XRP has managed to achieve since November ending of 2019.
Now that XRP has bounced back, the questions everyone is asking include, for how long will its momentum continue and will it at least touch $0.30 before losing steam? Well, analysts believe that XRP has the potential to hit the $0.30 mark, which will be made easier to attain if it can break above the downtrend resistance.
Signs of Love between the Crypto and Fintech Industries?
The year 2020 has not even gone far and there is already a romance brewing between the crypto and fintech industries. Ripple CEO Brad Garlinghouse is persuaded that this is just the beginning for the two industries and that more consolidation is bound to happen as the year progresses.
Basing his conviction on the acquisition of Plaid, a payment startup, by Visa for the sum
Ripple, not long ago, finally joined the $10 billion club after completing its own $200 million Series C funding round. This funding is expected to help Ripple expand its ecosystem.
Visa Purchases a Fintech Company
One of the biggest payment solution companies in the world, Visa, recently officially announced its acquisition of fintech startup Plaid for $5.3 billion, an amount that supersedes its value of $2.65 billion. Visa’s relationship with Plaid dates back to the startup’s $250 million funding round, in which Visa and Mastercard made investments in the company.
The CEO of Visa, AI Kelly, explained that the purchase of Plaid is a strategic move to get Visa acquainted with the latest technology in the financial industry. The CEO went on to state that the company is ready to go beyond cards and with the takeover of the fintech company, Visa has been presented with a great opportunity to execute its vision.
Though it is too early to say whether 2020 will be a successful year for the fintech market, we can say that it will be definitely a very interesting one to observe. So, let’s wait and see what will be happening and whether it will have any influence on some particular companies, technologies and crypto projects.
FinNexus Building Tokenized Asset Platform on XRP Ledger
FinNexus, a fintech company that’s developing an open-source finance protocol, says it plans to build a tokenized asset platform on the XRP Ledger.
Billed as a “one-stop shop protocol” based on the three pillars of the DeFi movement (diversity, value, and convenience), the company is working to create marketplaces that offer digital tokens representing real-world assets such as stocks and exchange-traded funds. In its 2020 roadmap, the company says it will use the XRP Ledger to “issue tokenized assets.”
Although the backbone of FinNexus is built on the public blockchain
“Cooperation and partnership are crucial to the success of our business. In 2020, our focus will be to partner with other public chains, in addition to Wanchain (WAN), to connect not only in protocols but also in business and communities.
Partners with quality assets, either on-chain or off-chain, and partners capable of underwriting these assets will be the key users of the FinNexus protocol clusters.”
FinNexus is looking to launch a testnet of its decentralized platform by the fourth quarter of this year.
News and Top Headline for Ripple XRP, January 18th, 2020
- Ripple Price Analysis – Ripple XRP price faces hurdles at the 100 MA as BTC tries to retest $9,000
- XRP/USD – XRP Price attains 100-Days EMA But strives to exceed the level
- XRP/BTC – XRP/BTC pair retest the 2600 SAT
Ripple XRP price traded in the positive zone this week recording a 13% price surge as it enters resistance at $0.234. The BTC/USD pair continues to trade sideways as it settles at the 2600 SAT level. Once the XRP price manages to resist $0.2345, the coin might rise back toward $0.30. The major support levels for XRP/USD pair are $0.22, $0.20, $0.185. While the major resistance level is $0.2345, $0.25, $0.262.
XRP (XRP) Price Today – XRP / USD
For the XRP/BTC pair, the major support levels are 2600 SAT, 2350 SAT, 2455 SAT. While the major resistance levels are 2710 SAT, 2800 SAT, 2900 SAT.
XRP/USD – XRP Price attains 100-Days EMA But strives to exceed the level
Ripple XRP has persisted in the positive zone, although, it encountered the projected resistance at $0.2345 and was unable to resist here. This resistance level is further strengthened by the 100-days EMA. XRP price is currently supported by $0.228 as the bulls try to
XRP Price Prediction – Ripple XRP Price Prediction
If the bullish trend persists and breaks the resistance at the 100-days EMA, instant resistance lies at $0.24. Above this level, next resistance is to be anticipated at $0.25, $257 (1.414 FIb Extension), and $0.262 (bearish .618 Fib Retracement). The resistance at $0.262 is strengthened by the 200-days EMA. Contrarily, if the sellers drive XRP price below $0.228, early support toward the downside lies at $0.22. Below this level, support is at $0.212, $0.20, and $0.185.
The RSI persists above the 50 the level which indicates that the bulls are in charge of the market trend. Also, the Stochastic RSI is bracing for a bearish crossover cue which might aid to bring the market price lower.
XRP/BTC – XRP/BTC pair retest the 2600 SAT
XRP/BTC pair has managed to correct back above the support level at 2600 SAT. XRP also surged higher into 2780 SAT but rapidly reversed and decline well below2700 SAT. It proceeds to trade sideways between 2600 SAT and 2700 SAT as investors and traders await the next price direction. XRP is still neutral at this level and must exceed the resistance at 3000 SAT to turn bullish. Alternatively, if XRP price decline below the support at 2350 SAT it would turn bearish.
Ripple (XRP/USD) forecast and analysis on January 18, 2020
Cryptocurrency Ripple (XRP/USD) is trading at 0.2333. 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 middle border of the Bollinger Bands indica
Ripple (XRP/USD) forecast and analysis on January 18, 2020
As part of the Ripple course forecast, a test level of 0.2280 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 0.2540. The conservative buying area for Ripple is located near the lower border of the Bollinger Bands indicator strip at 0.2140.
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 a moving average with a period of 55 and closing of quotations of the pair below the area of 0.2100. This will indicate a change in the current trend in favor of the 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 January 18, 2020 implies a test level of 0.2280. Further, growth is expected to continue to the area above the level of 0.2540. The conservative buying area is located is near the area of 0.2140. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 0.2100. In this case, we should expect continued fall.