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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Is Ripple (XRP) Underpriced Because Remittance is in Demand?

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
Ripple Price Analysis techanalysis XRP

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  • Ripple prices sliding, down 10.3 percent
  • Remittance services in demand

Resona Bank may have disassociated themselves with RippleNet and Money Tap, but the need for remittance service is big, Ripple Inc official has revealed. With Ripple as one of the leading firms offering innovative solutions, XRP may be underpriced.

Ripple Price Analysis

Fundamentals

That the “dreaded” and unrelenting members of the so-called XRPArmy are a tireless lot is true. Concrete research findings reveal that they are bots.  After their successful Binance campaign, they have their muzzle at Skype. As Microsoft product and a “telecommunications application that specializes in providing video chat and voice calls” via the Internet subscribed by many, the XRP community wants Skype to integrate XRPTipBot. By doing so, it will be possible for them to make micropayment with settlement in XRP. The campaign is on, and the community manager did respond to their request.

Demand in APAC for fast, affordable cross-border remittances is growing, but existing services can’t keep up. Find out how #blockchain is changing that: https://t.co/RsSqyjWo47 pic.twitter.com/ZqXGZX88tq

— Ripple (@Ripple) April 12, 2019

Meanwhile, Ripple Inc is admitting that the demand for remittance services is too big in the Asia Pacific. That is despite all the efforts made by the global payment platform in partnering with strategic FinTech players in the zone. While Resona Bank did discontinue their cooperation with SBI Money Tap initiative, this revelation hint of the ground yet to be covered by Ripple and how banks are still dominant despite their expensive and high latency solutions.

Candlestick Arrangement

Ripple XRP

In an effort versus result point of view, sellers have the upper hand, if we break down price action from a top-down approach. However, in short to medium term—with analysis from the daily chart, buyers are leading.

Visibly, although sellers are pressing lower, they are yet to reverse gains of Apr-2. With the rejection of higher highs, Ripple (XRP) is back in consolidation. As a result of this arrangement, risk-off traders should exit their longs and wait for reversal above 34 cents or even 38 cents and 40 cents before concluding that bulls are back.

Most important is the resistance at 34 cents, our previous buy trigger line coinciding with the 61.8 percent Fibonacci retracement level of Dec 2018 high low. On the other hand, any drop below 30 cents invalidates our outlook paving the way for liquidators aiming at 15 cents or lower.

Technical Indicators

Apr-11 bar is our reference. It has volumes of 32 million which is lower than average–at 46 million. Because it is bearish closing below 34 cents, buyers would be back in contention if there is counter, high-volume and wide-ranging bull bar with volumes above averages of 39 million. If there is a confirming high-volume bear bar confirming Apr-11 draw down, odds are XRP may drop below 30 cents.

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

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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