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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Ripple Price Analysis: XRP Resurgence, Cobalt Will be a Game Changer

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
Ripple Price Analysis techanalysis XRP

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  • Ripple price stable, reject lower lows
  • Cobalt could be a game changer
  • Transactional volumes below average

Behind Ripple is a team looking to revolutionize cross border payment through innovative solutions. Fundamentally, that is bullish. However, before investors reap benefits, XRP must first fund support at 30 cents. Only then will our previous XRP/USD trade plans be valid.

Ripple Price Analysis

Fundamentals

Ripple’s ability not only to shape the future of finance but be the leading player cannot be rubbed off. Behind their motivation are three products which the company executives, as well as the ever-loyal XRP army, are banking on. Although we cannot dispute Ripple’s capability and their reliability, Ripple path to dominance is long and curvy. SWIFT, the banking network, undoubtedly is dominant. However, with the rollout of Cobalt will be a game changer.

Cobalt, Ripple’s say, is “a novel atomic broadcast algorithm that works in networks with non-uniform trust and no global agreement on participants and is probabilistically guaranteed to make forward progress even in the presence of maximal faults and arbitrary asynchrony.” It’s launch is tentative.

All the same, we already know what the launch will mean for staunch XRP fans: instantaneous settlements. Presently, XRP transaction settles in roughly four seconds. All that will change as payment will take one second before reflecting on a holder’s wallet.

Candlestick Arrangements

Ripple

After yesterday’s declines, XRP is steady, which is bullish for the coin. From our previous XRP/USD trade plans, we mention that the short-term trajectory of the currency will depend on the reaction at Dec 2018 lows of around 30 cents. The level is a key support line, and any break below this critical level could trigger a sell-off towards the all-important 25 cents.

To elaborate, 25 cents mark Sep 2018 lows and any rebound any drop below this point will mean the successful rollback of Q3 2018 gains. That will effectively nullify our bullish stand. Because of this, it is essential that XRP find support at spot levels.

After all, there are hints of lower time frame support. Note that today’s and yesterday’s bear bars had long lower wicks point to demand in smaller time frames. Then again, these bars had short upper candles meaning sell pressure is low.

Technical Indicators

While we are bullish, we expect to see an increase in trading volumes. Today’s averages are low—at 14 million. Technically–and from an effort versus result perspective, rallies extending above 34 cents should be off a conspicuous by a bull bar. Behind this candlestick bouncing off 30 cents should be high trading volumes exceeding Jan 28’s 31 million. If not and prices drop below 30 with high volumes—above 31 million, sellers are likely to recoup Sep 2018 losses.

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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.

Read more

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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Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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