XRP Bulls Firm But Down 9.9%, Ripple Can Be A Micropayment Platform

Dalmas Ngetich

6 years ago

2 mins read

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XRP is down 9.9 percent
Recent findings could embolden the “XRP Army’s” repeated calls for the adoption of their crypto.

CoinGate is confirming that XRP is suitable for micropayments. Their latest research reveals that more people are procuring services and settling using XRP. However, that did not spur demand, as XRP is struggling against unyielding sell-side pressure.

Ripple Price Analysis

Fundamentals

Seven years later and Ripple is much more than a platform. From what information is publicly available, XRP is increasingly serving the crypto economy as a medium of exchange. According to CoinGate, month over month, more people are paying for merchandise using XRP. They wrote:

“We’ve been processing XRP payments for merchants since February. As you can see in the infographics below, the number of people buying stuff with XRP is increasing every month!”

Their finding is a resounding win for the XRP Army, which is eager to see corporations accept the coin for micropayments. The drive for mainstream adoption by the way of XRP seems to stem from its advantages over BTC and ETH. That’s because it is easy to make payments on-chain with the asset. A Skype employee fronted the proposal for Ripple’s incorporation in Skype’s messaging system. In one of the many votes and responses via Skype’s UseVoice, a supporter said:

“The age of Micropayments has come, and we need your support. The era of the Internet of Value is knocking at the door. My idea is to implement micropayments on Skype. Allow us to buy Skype Credits with XRPTipBot, allow us to send micropayments on Skype chat as well.”

Candlestick Arrangement

Like most crypto assets, Ripple (XRP) prices are improving and stabilizing. Even though bears are in charge, dropping 9.9 percent week-to-date, buyers are technically in charge. However, that largely depends on whether bulls can shore prices above 34 cents. The level did successful cap bulls in Q1 2019, and the resulting breakout in mid-May was enough to open the buy sluice gates.

Nonetheless, XRP is in a consolidation. From the daily chart, the zone between 34 cents and 40 cents is strong support. Besides, it is the 50 to 61.8 percent Fibonacci retracement levels of May trade range. Therefore, if bulls build up on today’s reaction, XRP could as well surge above 50 cents as traders load up with targets at 60 cents and later 80 cents.

Technical Indicator

Confirming the uptrend of mid-May will be a wide-ranging bull bar closing above 50 cents. Propelling buyers and setting in motion the next wave of higher highs to 80 cents is that the breakout candlestick must be with high trading volumes exceeding 184 million of May 14.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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.

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.