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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Ripple Price Analysis: XRP Meltdown, Lose $1 billion in 24 Hours

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
Ripple Price Analysis techanalysis XRP

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  • Ripple price down $1 billion in 24 hours
  • The aim is to replace SWIFT and dominate the cross-border fund transfer space
  • Transaction volumes low as XRP prices correct

The truth is, Ripple has a long way to go, and as XRP prices correct, retesting Dec 2018 lows of 30 cents, we remain net bullish. Ideally, we would like to see prices rally above 34 cents, but this largely depends on tomorrow’s reaction.

Ripple Price Analysis

Fundamentals

Behind Ripple is a dedicated team that wants to see the network flourish. Prices might be caving in, losing $1 billion in the last 24 hours, but the goal here is the bigger picture. A future where the network does the same function as what SWIFT has been doing in 45 years. Note, Ripple–as a competing system is six years old but it has drawn 200 banks and other interested financial institutions. Most are using xCurrent—the first product. However, banks, as well as payment processors, are beginning to see the benefits of xRapid. So far, 13 financial institutions including Euro Exim bank are leveraging XRP for their cross border solutions.

Candlestick Arrangement

Ripple

One thing is clear, sellers are driving bulls to the wall, and there is nothing new in this. Often, prices tend to correct after a period of high volatility. Price correction may take days or stretch by weeks as it has been the case. As we can see from the chart, the sharp rise from 30 cents to around 45 cents in mid to late 2018 took ten days. That is, from Jan 17 to Jan 27. Instead, the correction took 42 days complete with thin volumes.  From an effort versus result point of view, bulls are technically in charge. All the same, before buyers open long positions, we recommend patience until XRP rally above 34 cents with decent participation levels. Only then will aggressive traders load up with first targets being modest at 40 cents.

Technical Indicators

Cementing our bullish position are low volumes propelling the last 42 days of lower lows. As aforementioned, bulls are in charge. Apart from the guidance of Sep 2018 upswings, trading volumes of Dec 24 stand out. Unless otherwise there are sharp declines that drive prices below 30 cents confirming yesterday’s losses at the back of high volumes—exceeding Jan 10’s volumes of 83 million and 123 million of Dec 24, our optimistic stand will remain valid.

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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
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