Ripple (XRP) Pinned, Prices Unresponsive Despite Fundamental Stimuli

Dalmas Ngetich

1 year ago

2 mins read

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Ripple prices in range mode above 30 cents
Coil, InterLedger Protocol and Puma browser to integrate

At third, Ripple (XRP) is underperforming and back to a trade-range with caps at 34 cents. Regardless, there has been a lot of integration news which is yet to be factored, meaning the coin is undervalued and would likely rally past 34 cents and even 40 cents.

Ripple Price Analysis

Fundamentals

It’s all about use cases, and Ripple Inc is on over-drive towards meeting clients’ demands. Part of this is building interoperability and thanks to proven InterLedger Protocol which can not only allow easy conversion between coins or tokens without a third party but allow for micro-payment as it slowly becomes a mainstay.

Add that to the ever-supportive community, and it’s only a matter of when Ripple Inc solutions in xRapid, xVia, and xCurrent meet the ever-growing need of speed, security, and transparency. Note that it was only last week when a Ripple executive confirmed that demand for remittance services in the APAC is high despite what the company is offering. That means the populace and diaspora are tired of latency and exuberant charges as well as centralization for superior alternatives that settle instantaneously.

Apart from speed and efficiency, Ripple Inc through Coil which it supports through Xpring will link with the InterLedger Protocol via the new and upcoming Brave alternative—geared towards privacy—in Puma browser.

Similar to Ripple Inc, developers behind Puma are in San Francisco. Like Brave, it will enhance user experience while simultaneously freeing them off trackers and advertisements. Apart from that, Puma allows for content monetization with ILP acting as a gateway.

Candlestick Arrangements

Price-wise and Ripple (XRP) is deep in a range-mode after temporarily breaking and closing above 34 cents. In line with all our previous XRP/USD trade plans, Ripple (XRP) is lagging peers. Even so, the coin is technically bullish if past historical events are anything to go by.

However, fading favorable candlestick arrangements as well as supportive fundamentals mostly on the integration front, regulations around the status of XRP is slowing down progress. All the same, for trend continuation reflective of market sentiment, XRP bulls must clear 34 cents—the 61.8 percent Fibonacci retracement level of Dec 2018 high low, reversing losses of Apr-11, triggering our long positions in the process. After that, our first target will be 40 cents and later 60 cents as emphasized in our last trade plans.

Technical Indicators

Volumes are shrinking and anchoring our trade plan is Apr-11’s with 32 million. Recent averages stand at 28 million. Therefore, volumes thrusting back bulls into the fore must be high exceeding 32 million or even 79 million of Apr-5.

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.

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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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