BB Points at Ripple (XRP) Undervaluation as Transaction Volumes Pick Up

Dalmas Ngetich

1 year ago

2 mins read

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Ripple prices up 2.8 percent in the last day
XRP has an A-grade when ranked in terms of technology and adoption
Volumes low averaging 10 million after yesterday’s close.

Prices may be down, but according to a recent Weiss Ratings report, adoption and technology development remains higher. Topping the list is Ripple (XRP), EOS as well as Bitcoin which appears to be inching higher and lifting XRP prices from 30 cents.

Ripple Price Analysis

Fundamentals

While there is some correlation between asset price and platform development, Weiss Ratings has counter-evidence demonstrating that last year’s meltdown wasn’t as adverse and adoption as well as development levels rose.

In their recent annual report, the rating firm notes that XRP, Bitcoin, and EOS were despite falling prices, exemplary and worthy of the A-grading. Thanks to increasing adoption of xRapid and xCurrent, the two inter-dependent solutions that eliminate SWIFT pain points, Ripple Inc is likely to clip part of SWIFT market share.

“Despite lower prices since early 2018, our ratings model gives us hard evidence that a critical segment of the cryptocurrency industry has enjoyed remarkable growth in user transaction volume, network capacity, and network security. Equally important is our finding that an evolution in the underlying technology often powers these improvements. Therefore, for those willing to take the risk, the best time to invest could be very near.”

Candlestick Arrangement

Like ETH and BTC, there is movement in XRP and the third most valuable coin is up 2.8 percent in the last day. Nonetheless, the asset is down 3.1 percent in the previous week. Despite this, candlestick arrangement and favorable fundamentals will most likely fuel the next wave of bulls as prices break out from the momentum-sapping 4 cents trade range capped at 34 cents.

However, what’s interesting is yesterday’s development where a whole bull pin bar closed below the lower BB hinting at an undervaluation. Although there has been a correction thanks to today’s expansion, odds are XRP prices will register further gains in days ahead as bulls drive XRP above 34 cents triggering trade conditions as mentioned in the last XRP/USD trade plan.

Technical Indicators

Mar 21—17 million anchors our analysis. Even though we have a three-bar bull reversal pattern complete with an undervaluation, risk-off and aggressive traders must wait for satisfactory gains above 34 cents. Accompanying volumes must be above 17 million of Mar 21 and even 61 million of Feb 24 as per our previous emphasis.

Chart courtesy of Trading View

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.