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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ripple Boost: ECB Changes To White House Links, Will XRP Recover?

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis xrp

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  • Ripple (XRP) retesting 40 cents, stable in the last day
  • Change of leadership at ECB could be supportive for Ripple and blockchain in general

Christine Lagarde will take over from Mario Draghi as the head of ECB. As a blockchain and crypto believer, her entry is significant. On more than one occasion she has been quoted fronting several DLT technologies including Ripple’s.

Ripple Price Analysis

Fundamentals

Good news is, Christine Lagarde, the Managing Director of the IMF, will take over from Mario Draghi. While Mario did a lot for the ailing European economy, the entry of Christine is a fresh breath of air. Particularly significant for the crypto community, blockchain as an emerging and disrupting technology will be more visible during her tenure. It’s easy to see why.

Aside from being one of the top brass openly acknowledging crypto and blockchain, she’s particularly keen about Ripple and related products. Although she advocates for proper regulations, labeling fitting laws as a “pillar of trust,” her support and enthusiasm for Ripple is bullish for XRP. In more than one occasion, she has been quoted asking banks to innovate or die singling out the power of Ripple and Circle.

Furthermore, the fact that Ripple’s management team are globe-trotting with friends in high places as in the White House helps in their agenda. Earlier, the former Chief Marketing Strategist, Cory Johnson, said Ripple is in constant communication with officials from the Trump’s administration.

Even so, Ripple’s objective is not to compete with SWIFT. The latter is a market leader with more than 11,000 global banks using its network. As per Marjan Delatinne, a former SWIFT employee and Ripple’s Head of Global Banking, the global payment platform is preferably complementary to existing rival systems.

Candlestick Arrangement

Ripple XRP

 

At the time of writing, XRP is reacting from 40 cents. From candlestick arrangement, the level is a significant support level now that XRP is within a bullish breakout pattern against the USD.

If anything, buyers are in control. However, the short to medium term trajectory is mainly dependent on buyers. Should they build sufficient momentum and rally past 50 cents at the back of high trading volumes, XRP prices will likely surge to 80 cents.

On the other hand, losses below 34 cents spell doom for XRP holders. Not only will it shake out day traders but such a shock will likely trigger panic sells below Q1 2019 primary support at 30 cents. Unexpected but not discounted, such deep losses will cancel this projection.

Technical Indicators

Anchoring this trade plan is June 22 candlestick. With high trading volumes of 113 million, any reversal of June 27 losses-signaling entry of bulls, should be at the back of high participation surpassing 113 million and 20 million averages. Similarly, sell-off below 40 cents canceling buyers of mid-May ought to be with high trading volumes confirming bears of late June 2019.

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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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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