5-Months of Ripple (XRP) 10 Cents Consolidation, Breakout Delayed

Dalmas Ngetich

1 year ago

2 mins read

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Ripple (XRP) prices flat
Ria Money Transfer integrates with Ripple

Days after SABB, Ria Money Transfer is the latest to join the RippleNet family. The service transfer approximately $40 billion per year. Meanwhile, Ripple (XRP) is under pressure and trending above 30 cents, down 1.9 percent in the last day.

Ripple Price Analysis

Fundamentals

No doubt, Ripple—and it doesn’t matter the rate at which they are on-boarding clients, will be a crucial player in global remittance in the next ten years. What took SWIFT more than four decades to build, a network which is now the experimenting table for remittance companies will help fast-track migration as the start-up’s leaders explain to would-be customers all the benefits they will reap from any of their three solutions.

Even so, the only hindrance that makes banks as well as payment processors to take a cautious stand is regulatory uncertainty. The US SEC is yet to comment, and unless they do, classifying the asset as a utility, then we may see processors like Ramessa Online shifting camps, upgrading to xCurrent 4.0 and leveraging on xRapid for cross border transfer.

That way, Ripple would move closer towards creating an internet of value, a blow to SWIFT. After partnering with SABB, Ripple now has a deal with Ria Money Transfer, a service that moves $40 billion annually, and they will join the RippleNet utilizing xCurrent.

Juan Bianchi, CEO of Euronet’s Money Transfer Segment said:

“Ria’s integration with Ripple serves to build rails for an innovative payment infrastructure that seeks to provide easier access to potential partners while delivering faster and cleaner payments to its users. Time is a vital currency for our customers and partners, so we always keep it at the center of our innovation efforts.”

Candlestick Arrangement

At the time of press, Ripple (XRP) is down 16 percent year-to-date, losing 1.9 percent in the last day as asset prices cool off. Technically, and as per our iterations, Ripple (XRP) is in an uptrend with strong supports at 30 cents.

From an effort versus results point of view, the consolidation and the 90 percent drop from 80 cents to spot rates, is supportive of buyers. Note that bears, despite the strong liquidation wave of the last few weeks, are yet to close below 30 cents wiping gains of Sep 2018.

Therefore, unless that happens and XRP drop below Q1 2019 lows towards 25 cents, there are odds that prices will rally above 34 cents activating buyers aiming for 40 cents and 60 cents.

Technical Indicator

Apr-30 bull bar, wide-ranging with high volumes–20 million is our anchor candlestick. As a result, any bar that will either lead to liquidation or expansion must be with high volumes exceeding 20 million and more importantly, 30 million of Apr-26. An upswing will confirm the double bar bull reversal pattern of Apr-25-26 while a sell-off nullifies our trade plan as bears of Apr-11 flow back.

Chart courtesy of Trading View

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.