Ripple (XRP) Racing After World Bank Recognition, XRP ETP Launch

Dalmas Ngetich

1 year ago

2 mins read

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Ripple prices solid above 34 cents
NGM launch XRP Tracker One allowing investment in a regulated manner attracting institutions and other HNWI

Boerse Stuttgart’s NGM did launch two ETPs tracking the performance of Ripple (XRP) and Litecoin. The XRP Tracker One allows investment without exposure and risks of owning the underlying asset and is regulated meaning broadcasting exchanges are under the microscope. A day after launch, XRP is up 6.8 percent, outperforming Bitcoin (BTC) and Ethereum (ETH).

Ripple Price Analysis

Fundamentals

After three, or even five months of consolidation, Ripple (XRP) is back to the limelight. By leading the surge, the third most capitalized coin is now up 6.8 percent from yesterday’s close and is benefiting from Bitcoin lift-off. But it has not always been like this. Despite market supporting fundamentals and Bitcoin printing higher highs in the last couple of weeks, Ripple was mostly unchanged. Luckily, there are many reasons to be optimistic.

A standout is a recognition by the World Bank and the mentioning of cost savings and speed of xRapid. As a solution that seeks to change status quo benefiting the end user, the global financier notes that Ripple’s solution has the possibility of impacting people’s lives positively. Being one of Ripple’s core product, xRapid do leverage XRP as a medium of exchange. The digital asset, in a recent Weiss Ratings survey, turned out to be more popular in the US than Bitcoin.

From these developments, Nordic Growth Market (NGM) operating by Swiss’s FSA rules, seeks to take advantage of the coin’s popularity by availing an exchange-traded product (ETP) based on XRP–XRP Tracker One, allowing investment without exposure. The XRP Tracker One has a valid ISIN Number meaning they are legit securities.

Candlestick Arrangements

Back to price action and the trend is clear. Bulls are firing XRP. By adding 6.8 percent today, Ripple (XRP) is leading the way. By the close of today, the coin will likely be above 34 cents meaning our previous XRP/USD trade plan is valid and risk-off, aggressive traders can load up on every dip.

Already, we can note that momentum is high because, despite Apr 3 and 4 bars closing above the upper BB, prices found support in the Asian session arresting liquidation.

As a result of this development—and high participation levels exceeding those of Apr 4, bulls are firm and aggressive traders should load up on pullbacks as long as XRP is above 34 cents.

Technical Indicators

Volumes are high, and even though the initial excitement is subsiding, Ripple (XRP) prices are trending above 34 cents. Because of this, we expect higher highs with targets at 40 cents. After that, any gain driving prices above 40 cents must be with high volumes preferably above those of Apr-2, 79 million.

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.

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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.
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