BitStamp, Bitso Ripple (XRP) Volumes Spike, Will Prices Follow Suit?

Dalmas Ngetich

1 year ago

2 mins read

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Ripple prices up 1.3 percent
Volumes surge as xRapid benefits flow

Bitstamp, Bitso, and Coins.Ph XRP related volumes are surging. As a results, it could support Ripple (XRP) prices as xRapid is now commercially available. Now that prices are steady in a bullish arrangement, it is likely that prices will break higher towards 40 cents as our trade conditions come to live.

Ripple Price Analysis

Fundamentals

We are in the early stages of a remittance revolution. Banks changing their time-tested systems in response to new technology seldom happen. They need evidence of efficiency, and Ripple Inc is fronting a solution that promises to change status quo and change the lives of the unbanked and those who pay intermediation fees cutting deep into their earnings.

Good news is more and more banks are reaping benefits of leveraging xCurrent or xRapid. The latest to join the fray was Federal Bank, the sixth bank from India to upgrade and settle on Ripple solutions. We are yet to determine which of the three options they prefer but should they choose xRapid then XRP prices could increase in response.

https://twitter.com/behindtheledger/status/1111639227303948288

Already, XRP prices are inching higher, reversing from current lows now that xRapid as a liquidity provider is commercially available. Keen XRP enthusiasts discovered a spike in transaction levels between BitSo, Bitstamp, and Coins.Ph, two of Ripple Inc recommended exchanges. Bitso facilitates transfers between the US and Mexico while Coins. Ph opens up the US—Philippines corridor with Bittrex as well as BitStamp facilitating USD conversion via xRapid.

https://twitter.com/behindtheledger/status/1111492361308258304

Candlestick Arrangements

At the time of press, XRP is up 1.5 percent from yesterday’s close, inching higher as prices correct Mar 26 under-valuation. All in all, what is apparent is that Ripple (XRP) bulls are once again finding support from Q1 2019 lows and could rally from Jan 30 lows more so if bulls build enough momentum closing above our minor resistance line at 34 cents.

Encouragingly, volumes are increasing as prices expand meaning there is a likelihood of this BB squeeze breaking above 34 cents as bulls of Sep 2018 flow cementing our overall bullish stance.

Complementing this is the fact that prices are trading within Jan 30 high-lows which from an effort versus results perspective is supportive of our projection.

Technical Indicator

Like we mentioned above, bulls are firm, and participation is picking up as prices bounce off from 30 cents, the first level of support. As aforementioned, bulls are technically in control if we consider the relation between bulls and bears off Jan 30 bar. Thirty-two days after printout, price action is concentrated on its lower half as prices consolidate above 30 cents meaning bulls are likely building up momentum in readiness of a lighting breakout above 40 cents.

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.