Ripple (XRP) Drop 12 Cents But With Yoshitaka, Fortunes will Change

Dalmas Ngetich

1 year ago

2 mins read

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Ripple (XRP) sink 12 percent
Yoshitaka Kitao, the CEO of SBI, is now a Ripple Inc board member

Bringing on board Yoshitaka Kitao, the president of SBI Holdings is bullish for Ripple (XRP). It’s not hard to see why. He brings expertise that would guide Ripple Inc towards world domination. Meanwhile, Ripple (XRP) is down 12 percent retesting Q1 2019 support.

Ripple Price Analysis

Fundamentals

The crypto and blockchain space never settles. It’s always on a mill and sometimes slowed down by multi-plane controversies. Even so, Ripple Inc remains a market leader. World Bank acknowledges its innovative solutions saying they impact people’s lives positively.

True, several firms and payment processors are using the RippleNet though not many prefer to upgrade to xCurrent version 4, which avails a rail for xRapid deployment.

All the same, investors are optimistic and as Ripple Inc lay out strategies of replacing SWIFT as the dominant, cheap and settlement platform allowing for instant settlement, Yoshitaka Kitao, an ardent supporter, founder, president and CEO of SBI Holdings is now a board of director at Ripple Inc.

In accepting, Kitao said:

“Blockchain and digital assets are changing the way we move money around the world, and Ripple is the driving force behind this positive change. I am excited by this opportunity to lend my expertise and be part of the company’s next phase of growth.”

Chris Larsen, the Chair executive chair of the board, commented:

“I am excited to welcome Mr. Kitao to our Board of Directors. From conventional financial markets to digital asset markets, his deep understanding of the financial services industry will offer valuable business and financial expertise to help Ripple continue to scale”

Candlestick Arrangements

At spot rates, Ripple (XRP) is nonetheless, under pressure. The coin is in range mode, down 12 percent in the last day and retesting Jan 30 lows at 30 cents.

From our reiterations, the level is essential in our analysis. However, if bulls manage to shore prices, preventing liquidation below this mark, then odds are prices would spring off this mark, reversing Apr-24-25 lowers with double bar bull reversal pattern.

Once that happens, Ripple (XRP) bulls would flow back as prices break off this accumulation confirming buyers of Jan 30. Considering the duration of this 4 cents consolidation, we expect a sharp, wide-ranging bar to either thrust the asset above 40 cents in confirmation or towards 25 cents nullifying our stance. Before then, traders should stay on the sidelines.

Technical Indicators

Our anchor bar is Apr-24 with 48 million. With above average volumes—48 million against 20 million, bear reversal and trend continuation must be with similar participation levels exceeding 48 million or even Apr-2’s 79 million.

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.