• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Ripple (XRP) Finally Bouncing Off Q1 2019 Lows, Will Bulls Prevail?

Dalmas Ngetich by Dalmas Ngetich
2 years ago
in Uncategorized
Reading Time: 2min read
Ripple XRP
Advertisement
Listen to Article
  • Ripple (XRP) recover after Apr-24 hammering
  • Bitstamp reminds users of Ripple’s decentralization strategy

Critics claim Ripple (XRP) is nothing more than an “airdrop” whose absence wouldn’t affect operations. However, XRP proves to be useful for speed, and after Cobalt, firms using xRapid will enjoy settlement times of one second. Price wise and XRP bulls are back, shoring the asset after Apr-24 drawdown.

Ripple Price Analysis

Fundamentals

Much has been said about Ripple Inc, XRP and Ripple Labs, the separate and independent firm behind XRP. Of the many, decentralization stands out. Even so, critics acknowledge that Ripple Inc is fronting shaping solutions which should banks and other financial institutions adopt, then the price of the underlying asset, XRP would surely expand. That’s contrary to the inner workings of XRP, a liquidity facilitator whose prices are meant to be stable as they are means of exchange for RippleNet using companies.

Therefore, in a bid to demonstrate that Ripple and XRP are two distinct companies, Ripple Inc and Ripple Labs are proof. With it, XRP as an independent coin is live. Executives insist that should the San Francisco start-up fall, then XRP would continue to operate on the XRP Ledger without interference.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Apart from this stance, they also embarked on a decentralization strategy. It is this move that Bitstamp, a leading European exchange, took to Twitter, highlighting its importance:

“DID YOU KNOW: In 2017, 55 billion XRP owned by Ripple was placed in an escrow, to control its issuance rate. One billion is released each month, with any unspent XRP placed in another escrow. This controls the inflation rate of XRP.”

DID YOU KNOW: In 2017, 55 billion XRP owned by Ripple was placed in an escrow, to control its issuance rate. One billion is released each month, with any unspent XRP placed in another escrow. This controls the inflation rate of XRP. #WednesdayWisdom ? pic.twitter.com/mDXiRBh9A9

— Bitstamp (@Bitstamp) April 24, 2019

Candlestick Arrangements

Ripple XRP

After a week of losses, Ripple (XRP) is now stable. It is up 0.8 percent but still down 9.2 percent in the last week. Despite this, we shall maintain a bullish outlook on the third most valuable asset thanks to favorable candlestick arrangement.

Anchoring our perspective is Sep 2018 bull bar. Take note that even if prices are oscillating and “all over the place,” they are still moving within the bar’s high low. As a result, from an effort versus result point of view, buyers are technically in control more so if prices stabilize above 30 cents.

The level is Q1 2019 lows and a vital line which if sellers manage to drive prices below invalidates our trade plan. On the flip side, should prices find support and rally, then odds are Ripple (XRP) could break above 34 cents igniting short-term buyers aiming at 40 cents if not 60 cents.

Technical Indicators

The apr-24 bar is our reference bar for two reasons. Firstly, it has high transaction volumes—48 million against 20 million average. Secondly, it is wide-ranging. Therefore, for bull trend continuation, buyers must satisfactorily reverse yesterday’s losses with equally high volumes—above 48 million. That will form the base for the next leg up towards 34 cents printing a double bar bull reversal pattern.

Chart courtesy of Trading View

Tags: Ripplexrp
TweetShare22
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

bitcoin dangerous triangle pattern

A Dangerous Technical Pattern In Bitcoin Is Back, And It Is Breaking Down

36 mins ago
Bitcoin

Here’s Why Coinbase Whales Contributed to Bitcoin’s Sub-$30,000 Plunge

36 mins ago
Ethereum

Ethereum is Showing “Exceptional Signs of Strength” as Bulls Defend Crucial Level

5 hours ago
Saylor: Institutional Interest in Bitcoin is Bigger Than You Think

Saylor: Institutional Interest in Bitcoin is Bigger Than You Think

8 hours ago
3 Things Bitcoin Traders Should Watch in FOMC’s First Meeting of 2021

3 Things Bitcoin Traders Should Watch in FOMC’s First Meeting of 2021

10 hours ago
Bitcoin and How Crypto will Transform the Financial World

Bitcoin and How Crypto will Transform the Financial World

12 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

FEB Inc. Announces a New Service, Cost-Effective PR Media Packages for East Asian Markets

January 27, 2021

Hodlnaut Partners with Crowe Singapore to Perform Independent Verification of US$106 Million of CryptoAssets

January 27, 2021

Helio Lending Pivots into Becoming a CeFi Aggregator

January 27, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.