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Breaking News: SoftBank, Ark Invest Among Potential Investors In Tether's $15 Billion Funding Round

Ripple (XRP) Finally Bouncing Off Q1 2019 Lows, Will Bulls Prevail?

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
Ripple XRP

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  • Ripple (XRP) recover after Apr-24 hammering
  • Bitstamp reminds users of Ripple’s decentralization strategy

Critics claim Ripple (XRP) is nothing more than an “airdrop” whose absence wouldn’t affect operations. However, XRP proves to be useful for speed, and after Cobalt, firms using xRapid will enjoy settlement times of one second. Price wise and XRP bulls are back, shoring the asset after Apr-24 drawdown.

Ripple Price Analysis

Fundamentals

Much has been said about Ripple Inc, XRP and Ripple Labs, the separate and independent firm behind XRP. Of the many, decentralization stands out. Even so, critics acknowledge that Ripple Inc is fronting shaping solutions which should banks and other financial institutions adopt, then the price of the underlying asset, XRP would surely expand. That’s contrary to the inner workings of XRP, a liquidity facilitator whose prices are meant to be stable as they are means of exchange for RippleNet using companies.

Therefore, in a bid to demonstrate that Ripple and XRP are two distinct companies, Ripple Inc and Ripple Labs are proof. With it, XRP as an independent coin is live. Executives insist that should the San Francisco start-up fall, then XRP would continue to operate on the XRP Ledger without interference.

Apart from this stance, they also embarked on a decentralization strategy. It is this move that Bitstamp, a leading European exchange, took to Twitter, highlighting its importance:

“DID YOU KNOW: In 2017, 55 billion XRP owned by Ripple was placed in an escrow, to control its issuance rate. One billion is released each month, with any unspent XRP placed in another escrow. This controls the inflation rate of XRP.”

DID YOU KNOW: In 2017, 55 billion XRP owned by Ripple was placed in an escrow, to control its issuance rate. One billion is released each month, with any unspent XRP placed in another escrow. This controls the inflation rate of XRP. #WednesdayWisdom 💡 pic.twitter.com/mDXiRBh9A9

— Bitstamp (@Bitstamp) April 24, 2019

Candlestick Arrangements

Ripple XRP

After a week of losses, Ripple (XRP) is now stable. It is up 0.8 percent but still down 9.2 percent in the last week. Despite this, we shall maintain a bullish outlook on the third most valuable asset thanks to favorable candlestick arrangement.

Anchoring our perspective is Sep 2018 bull bar. Take note that even if prices are oscillating and “all over the place,” they are still moving within the bar’s high low. As a result, from an effort versus result point of view, buyers are technically in control more so if prices stabilize above 30 cents.

The level is Q1 2019 lows and a vital line which if sellers manage to drive prices below invalidates our trade plan. On the flip side, should prices find support and rally, then odds are Ripple (XRP) could break above 34 cents igniting short-term buyers aiming at 40 cents if not 60 cents.

Technical Indicators

The apr-24 bar is our reference bar for two reasons. Firstly, it has high transaction volumes—48 million against 20 million average. Secondly, it is wide-ranging. Therefore, for bull trend continuation, buyers must satisfactorily reverse yesterday’s losses with equally high volumes—above 48 million. That will form the base for the next leg up towards 34 cents printing a double bar bull reversal pattern.

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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