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Ripple Price Analysis: XRP Stand to Benefit From ASEAN Adoption Drive

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

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  • Ripple price bullish, candlestick formation favor buyers
  • Targets at developing countries and China mean Ripple is better placed to clip SWIFT’s dominance
  • Transaction volumes low. Volumes above 49 million will confirm underlying XRP demand

Sellers may be pressing hard, but XRP bulls are technically in control. Before we recommend longs, XRP prices must first race above 34 cents confirming bulls of Jan 30 and those of late Dec 2018. With supportive fundamentals, this trade plan is valid and likely to print out.

Ripple Price Analysis

Fundamentals

That Brad Garlinghouse and Ripple honchos are ambitious is an understatement. Ripple executives are on a mission and to achieve their objective, they ought to have their presence felt in zones that remain largely un-banked. That is, areas where citizens yearn for financial services but they can’t just access them. Limitations either set by the banks or internal because they aren’t empowered.

The Melinda Gates Foundation core objective is to empower these people and by leveraging Ripple solutions—xRapid, xCurrent or the Ripple Net, the underprivileged will access better services. Besides Mojaloop, Ripple is working hard by creating efficient, payment corridors especially in developing countries like SE Asia, Africa, and the Middle East saving SME and business people from the inconveniences of high costs and latency.

Great to see this kind of progress a year after the launch of Mojaloop. For background: https://t.co/w3ssrjs29h https://t.co/KJZu2wgucr

— Ripple (@Ripple) November 27, 2018

It’s also going to be better now that Ripple is searching for local contacts in China. The introduction of cheap cross-border alternatives in a sprawling, industrialized economy like China means profitability and should liquidity solutions as xRapid find use, then XRP prices will surge.

Candlestick Arrangements

Ripple

At second in the liquidity table, XRP prices are stable. While sellers have had the better of bulls in the last few days, buyers are technically in control. However, before we recommend XRP longs, we shall take a neutral stand knowing that technicals favor buyers.

Note that in an effort versus result perspective, the simple fact that bears are struggling to reverse gains of Jan 30 hints of underlying demand and resistance of lower lows.

As such, it is likely that XRP will find support in days to come. All the same, conservative traders should adopt a neutral stance until prices surge above Jan 30 highs or race above 34 cents—Jan 14 highs. Such a bullish move will automatically trigger risk-off traders into action as they aim for 40-42 cents.

Technical Indicators

Jan 30 and 31 bull and bear bars stand out in our analysis. As a high volume, wide-ranging bull bar, it is significant for bulls and therefore anchors our trade plan. Like we have said, bulls will only be in charge if there is confirmation of Jan 30’s bull bar—49 million versus 17 million. Behind this confirming bar should be a high volume bar with volumes above 49 million of Jan 30-31 and even preferably above Jan 10’s 83 million.

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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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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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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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