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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

Is Ripple (XRP) Undervalued After Fiat—ILP Interoperability Demo?

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis xrp

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  • Ripple prices up 16.3 percent
  • InterLedger Protocol (ILP) is a game changer.

The team behind InterLedger Protocol (ILP) are not slowing down, and now that we have a fiat connector, it’s only a matter of time before the benefits of a real Internet of Value begins to permeate. With optimism around interoperability, we expect Ripple (XRP) prices to increase towards 80 cents.

Ripple Price Analysis

Fundamentals

Here’s what InterLedger Protocol can do. The Ripple innovation can connect banks, mobile money platforms, stock exchanges, clearing houses and different ledgers. By ledgers, I mean blockchains like Ethereum, Bitcoin, Bitcoin Cash or any other network of choice. And it is true. InterLedger Protocol or simply ILP is “an open protocol suite for sending payments across different ledgers. Like routers on the Internet, connectors route packets of money across independent payment networks. The open architecture and minimal protocol enable interoperability for any value transfer system. InterLedger is independent of any one company, blockchain, or currency.”

From this, it is clear that ILP is what will eventually bring value to the largely fragmented blockchain. Note that there are more than 2,000 blockchain projects each with different value propositions. However, it is this differentiation that is draining value, but with a solution that connects them allowing for interoperability, then we shall have one big valuable network.

#StreamingPayments @Interledger #demo by @kava_labs @KevinJYDavis swap BTC, ETH and XRP using Interledger SDK Switch pic.twitter.com/e3qpD0xzEQ

— Vanessa Pestritto (@vanessadice) April 5, 2019

That is the motive behind ILP development, and just recently, the team did launch the first fiat—ILP connector, a big step towards mass adoption and fusing crypto and traditional financial systems. Announced by Vanessa Pestritto of Xpring and demonstrated by Stefan Thomas of Coil and co-founder of ILP, the team is on the way creating an independent Internet of Value (IoV) that is easy to use.

Candlestick Arrangements

Ripple

Like most coins, Ripple (XRP) is on an uptrend, at third and up 16.3 percent in the last week. Even though the coin valuation is up, XRP is underperforming and didn’t satisfactorily tap Bitcoin price revival.

Nevertheless, we expect bulls to be in charge, driving prices above 40 cents now that XRP is trading within a minor bullish breakout pattern against the USD after clearing 34 cents. Affirming our bullish stance is the strong support at 30 cents and Apr 5 bull bar rejecting bearish attempts of Apr 3-4.

Price surge of Apr 5 did confirm buyers of Jan 30, and after a deep correction, bulls of Sep 2018 are back ready to propel prices to 40 cents, 60 cents and later 80 cents.

Technical Indicators

Our anchor bar in days ahead is Apr 3 bar with 97 million. Although bearish, countering the general bullish trend, the bar is trading with tight range countering flows of Apr 2. Moving on, we expect buyers to be in control and any break above 40 cents ought to be with volumes exceeding 97 million and be wide-ranging.

Chart courtesy of Trading View

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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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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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