Ripple Price Analysis: XRP Benefiting From SWIFT–Corda Trial

Dalmas Ngetich

1 year ago

2 mins read

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Ripple price surge 10 percent
SWIFT GPI Link proof of concept with R3’s Corda
Transactional volumes picking up, spikes above averages

SBI Holdings may be behind an audacious plan of integrating SWIFT GPI with RippleNet via R3’s Corda Settler. The latter use XRP, and if that is the case, our previous XRP/USD trade assertions will be valid. With a 10 percent spike, it is likely that XRP could retest 80 cents.

Ripple Price Analysis

Fundamentals

Good news for Ripple and XRP. SWIFT, the global payment messenger platform, is in a proof of concept stage, trying out its new GPI Link payment standard withR3’s Corda. If anything—and if this testing phase is a success, then we could see SWIFT integrating XRP indirectly via the Corda platform. Remember, in Dec 2018, Corda Settler launched. Corda Settler is an application that facilitates cryptocurrency payments between enterprise blockchains via XRP.

We are excited to announce our partnership with @swiftcommunity to integrate gpi with Corda Settler. @Cordablockchain https://t.co/FyEJScr0j8

— R3 (@inside_r3) January 30, 2019

Furthermore, there is an existing partnership between R3 and SBI Holdings where the former has a 60 percent in the SBI R3 Japan venture. It doesn’t stop there. SBI Holdings also has a 60 percent stake in SBI Ripple Asia consortium, and the banking group is a keen supporter of XRP and Ripple solutions.

“SBI Ripple Asia is providing a next-generation payment platform powered by DLT (Distributed Ledger Technology) to financial institutions and remittance transfer providers in Asia as a joint venture of SBI Holdings and Ripple, a US FinTech venture.”

Candlestick Arrangements

From the above, it’s not hard to see why Takashi Okita of SBI Holdings is not pulling strings as SWIFT trials on Corda. XRP is up 10 percent at the time of writing with decent trade volumes.

We shall gauge the level of market participation by close but what is clear is that there is a double bar bull reversal pattern off 30 cents. The bar does confirm bulls of mi-Dec 2018 as well as bringing to light the previous trajectory set by Sep 2018.

Because of this, it is likely that XRP bulls will drive prices above 34 cents igniting risk-off long positions with first targets at 40 cents.

Technical Indicators

Even though we have a clear bull bar, transactional volumes are light—but above average. At the time of writing, today’s bullish engulfing bar was pumped by high-volumes –23 million. Trading ranges are extensive, but volumes are below those of Jan 28—31 million and less than 83 million of Jan 10. All the same, we are in the early stages of a trend reversal, and transactional volumes are building up.

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.

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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.
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