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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ripple Price Analysis: XRP Bearish Below 40 Cents, NY Ready to Explore

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis ripple

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Latest Ripple News

Enthusiasts often paint a rosy picture on the burgeoning internet of value claiming it will disrupt and eventually replace centralized set-ups. But before this come to pass, the community understands that education and general awareness is key. It is for this reason that Ripple has so far donated $80 million to various causes.

On their part, regulators from around the world are keen on executing their mandate in a world that promise to operate on auto-pilot with systems set to cut-off third parties. As the ecosystem matures, it is no doubt that there will be applications and platforms that will not only be fast and widely adopted but also secure and completely anonymous. The blockchain community is calling for these inherent features to be enhanced.

Even though the state of New York is stringent and “protective of their investors”, it is now ready to immerse itself and explore cryptocurrencies and digital assets. In December 2018, Governor Andrew Cuomo signed a bill creating a task force made up of retail investors, technologists, consumers and consumers with a single objective of studying blockchain technology. By Dec 15, 2020 they should submit their findings detailing their legislative and regulatory recommendations.

Ripple (XRP) Price Analysis

Ripple

After promising price expansions of late Dec 2018, XRP is steady, down to third and ranging. Gains are minimal and after consolidating for a week, it is likely that bears will emerge on top.

If that is the case, we expect bears to drive prices below Dec 28 lows of 34 cents. This will be so especially if bulls fail to build enough momentum and close above our resistance zone at 40 cents. The level is of prime importance in our analysis. It marks the 61.8 percent Fibonacci retracement level when the tool is drawn based on Sep 2018 high low. Remember, Sep was a trend defining month. Because of increasing buy activity and the failure of bears to wipe out those gains even after three months of steep declines, we maintain a bullish outlook.

However, in the short term, our trade plan is dependent on the reaction of XRP prices at 40 cents. As mentioned yesterday, a breakout supported by abnormal market participation could open doors for 60 cents and even 80 cents by close of Q1 2019.

As such, our XRP/USD trade plan is as follows:

Buy: 40 cents—Breakout trade preferably with above average volumes

Stop: 37 Cents

Target: 55 Cents, 60 Cents, 80 Cents

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

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His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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