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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

XRP Down 7.5%, Prices Could Freeze Because Of Ripple’s Goals

Dalmas Ngetich
Dalmas Ngetich
6 years ago
2 mins read
technical analysis xrp

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  • XRP falls 7.5 percent week-to-date
  • Ripple game plan demands stable prices

Behind Ripple is a drive to change the status quo. The company’s goal is to dislodge SWIFT and improve livelihoods through cheaper transactions, with XRP. Therefore, it means XRP must be affordable, pouring cold water on the $589 talk. At the time of writing, XRP is down 4.5 percent.

Ripple Price Analysis

Fundamentals

It promises to be another display. An extravaganza where innovation shapes the sphere, ten years after Bitcoin became a breather. Bitcoin is, well, fair. The platform is global, decentralized, and has the backing of developers. Because of an inevitable “evolution,” traders and investors do gravitate to the asset drawing capital.

However, the rise of Ripple and their unwavering objective of slicing part of SWIFT’s market share is a magnet for investors. Analysts reckon that there is a gross undervaluation of XRP, with supporters expecting prices to surge to $589.

All the same, such expectations could be crashing because, by design, XRP is nothing else but a tool. Behind Brad Garlinghouse are three leading fintech solutions in xVia, xCurrent, and xRapid. The stability of XRP prices, of which Ripple owns a majority, will guarantee the success of xRapid.

Leveraging on xCurrent rails, the option is a route for settling transactions in seconds via trusted exchanges. Bitstamp, Bittrex, Coins.ph and Bitso are pioneers.  Therefore, it is evident that while investors are optimistically expecting a surge, XRP is by default capped. Banks and financial institutions wishing to use XRP for cross border transactions will opt in if the facilitator is affordable.

Candlestick Arrangements

Ripple XRP

Decoupling from Bitcoin (BTC), Ripple (XRP) is in a range mode. In the last day, the coin is stable, falling 4.5 percent from last week’s close. Regardless, the fact that XRP is trading above 40 cents is bullish.

From previous XRP/USD trade plans, the coin is in an uptrend. XRP is trading within a bullish breakout pattern after clearing 34 cents, testing 50 cents and correcting back to 35 cents in a retest. Because of this, there is an opportunity for aggressive traders to buy the dips while targeting May high of 50 cents.

On the other hand, conservative traders can wait for clear-cut opportunities. That will either print out if prices rally above 50 cents or drop below 30 and 34 cents as bulls crash out. Any breakout above 50 cents with an uptick of trading volumes could see XRP expand to 80 cents.

Technical Indicators

In light of the above, May 30th bear candlestick guides this trade plan. Any surge or fall below 50 cents or 34 cents should be with decent trade volumes exceeding 94 million of May 30thor better, 187 million of May 14th.

Chart courtesy of Trading View. Image Courtesy of Shutterstock
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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

Ad discliamer

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