Ripple (XRP) Fundamentals and Technicals Sync, Bulls on the Way

Dalmas Ngetich

1 year ago

2 mins read

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Ripple (XRP) up 3.5 percent
Comments from SEC will clear XRP classification status
Transaction volumes more than double those of early Feb—streams from BitFinex

How XRP is classified will determine whether the asset will crumble or soar. Even so, the addition at CoinBase Pro and CoinBase opening up the currency to more than 26 million customers is massive for XRP. From candlestick arrangement, it is likely that prices will edge higher in response.

Ripple Price Analysis

Fundamentals

A decade later and Bitcoin, being the world’s most valuable coin, determines digital asset valuation. Unless otherwise, prices of digital assets are always correlated Bitcoin’s. At some point, the CEO of Ripple Inc said only widespread use of XRP would cause a decoupling.

We are yet to see that happening and as long as BTC is base in almost all crypto exchanges, its fluctuation will continue to impact on XRP prices despite its added liquidity at CoinBase Pro and CoinBase.

There are bribing rumor around this listing. To clear the air, XRP Markets tweeted saying CoinBase support of the third most valuable coin was of their volition and bribing rumors are baseless. The addition at CoinBase is precisely what the community needed, and in a strict exchange where compliance to law and local regulation is a top priority, XRP may be after all a utility—at least in CoinBase evaluation.

All we need is a comment or two from the regulator, the US on whether the users are free to buy a utility in CoinBase. If not, a comment by Block Society, the latest crypto advising firm duly registered with the SEC will help clear the air.

Candlestick Arrangements

Aside from Binance Coin—up 10.7 percent and Litecoin (LTC)—up 5.6 percent in the last day, XRP performance is modest—up 3.5 percent—considering how dismal price action has been in the last couple of days.

Since our trend is determined and bulls are in control, it is likely that bulls of Feb 25 will spur participation, drawing demand in lower time frames as Ripple (XRP) surge from spot prices. Although we are optimistic of price recoveries, we must also acknowledge that prices are in accumulation. A significant takeaway in this ranging market is swelling volumes as prices find support, rejecting lower lows below 30 cents. Like before, it is after XRP rally above 34 cents is when traders can buy on dips with targets at 40 cents.

Technical Indicators

Volumes are picking up and are double that of early Feb—at roughly 35 million. Ideally, a break above 34 cents and recent consolidation must be at the back of high trade volumes exceeding 35 million and most importantly those of Feb 24—61 million. Before then, we shall maintain a neutral but bullish outlook.

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.

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.