The third largest cryptocurrency, XRP, has finally broken out of its lows and recovered to the $0.23 spot after months of staying in the red, which seemed like an eternity to XRP investors.
Now, crypto traders say that XRP
‘XRP can reclaim $0.33 level’
The trader who uses the nickname ‘Joker’ tweets that sellers are locking in their profits at the moment by getting rid of their XRP. The coin’s price initially rallied to the $0.24 mark but later on it rolled back a little.
If the bulls manage to hold the price in the current $0.23 area, then in a week XRP has high chances of surging towards $0.33 – another milestone that the community longs for XRP to regain.
Image via Twitter
‘XRP very likely to break up today’
Crypto trader @HaraldoXRP states that XRP overcame the 6-month RSI on Tuesday and thus broke out of the downward trend that had lasted for half-a-year. He is bullish and writes that the XRP price may even break higher later today.
‘Ripple’s legal case could be solved in months’
Today, on January 15, the final court hearing on the Ripple case is to take place and the community expects to find out whether XRP will be classified as a security or the case against Ripple will be dismissed.
However, Jake Chervinsky, a lawyer from Compound, has tweeted that the results of today’s hearing will be announced weeks or even months later.
On Wednesday, he writes, there will be an oral argument on Ripple’s motion to dismiss (MTD) the case against it. But such MTDs, the lawyer continues, normally take weeks or months to resolve. He states:
“We likely won’t learn anything new.”
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.