• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ripple (XRP) Technical Analysis
Nexo Logo

Ripple (XRP) Technical Analysis: Western Union “Reconsidering” XRP Viability

Dalmas Ngetich by Dalmas Ngetich
4 years ago
in Uncategorized
Reading Time: 3 mins read
Advertisement

In general, there is a broad-based recovery in cryptocurrencies and that includes Ripple (XRP) coming at a time the company is dealing with three concurrent law suits. On the charts, prices are down three percent in the past day but still up 10 percent for the week. What we need for our XRP longs to be valid is a break above 55 cents and that will come to pass if this week ends up bullish in the process completing a three day bullish reversal pattern, the Morning Star.

From the News

Vladi Zakinov, David Oconer and Ryan Coffey are three aggrieved Ripple coin investors who felt ripped off by Ripple, the company and are now suing for compensation. In their suits, they alleged that there is no difference between Brad Garlinghouse, Ripple Labs and the Ripple’s XRPII LLC, its money services wing. Ryan Coffey filled his in January, doing so on behalf of all XRP coin investors after losing more than 30 percent of their invested capital. The other two tabled their grievances recently. Overly, their arguments are simple: Ripple (XRP) is but a security.

That’s regardless of the clear evidence that XRP had the go-ahead by FinCEN to sell the coin and that fact that there is a clear difference between XRP which came to existence in 2004 and Ripple Labs which cropped up in 2012. These lawsuits are currently on going and Ripple has to deal with them at the time when they really need to prove to the community that it is not a centralized entity but a utility not subject to SEC’s oversight.

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

Western Union on #Ripple: "CEO Hikmet Ersek does not seem too content with Ripple’s payment technology.He has said during the payments processing tests his company conducted using $XRP,they found money transfers using the cryptocurrency were neither cost-effective nor efficient."

— DK (@dke82) July 6, 2018

Worsening the situation is claims by Western Union CEO, Hikmet Ersek that there are no big differences-cost wise- between using  XRP and the current infrastructures in place as their recent pilot programs show. This might be a blow to Ripple and Brad keen on on-boarding remittance services.

Ripple (XRP) Technical Analysis

Weekly Chart

Ripple (XRP) Technical Analysis
Ripple Weekly Chart by Trading View

It’s not a doubt: XRP is trading at a precipice. A simple bear nudge would probably see XRP prices tumbling to record levels. Of course, that may or may not happen because it’s subject to how this week closes.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

As it stands, there are hints of bull pressure because prices are rejecting lower lows at key support-previous resistance levels at 45 cents. That’s not all, XRP buyers are simply following through last week’s events and after this weekend we might end up seeing a classic three bar bull reversal pattern, the Morning Star. If that indeed is the case, then we shall recommend buying on every correction at lower time frames next week.

Daily Chart

Ripple (XRP) Technical Analysis
Ripple Daily Chart by Trading View

Like previous trade plans, we shall anchor our analysis on 45 cents, a main support line and 2018 lows.It’s important because at the moment, there are pockets of bull pressure as we saw on June 29-30 and then that confirmation on July 2 whose high-low prices are still trending inside.

I shall recommend longs only after bulls push above 55 cents-that’s when XRP buyers would have reversed June 22 losers. Thereafter we can begin buying on dips in lower time frames with first targets at 70 cents. Conversely, any rejection of higher highs with sellers breaking below 45 cents means bears should aim for 15 cents.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Tags: Ripple (XRP) Technical AnalysisRipple Price ChartRipple Price ForecastRipple-Western Union
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Bitcoin Dominance Remains High As Market Sell-Offs Settle

1 hour ago
Bitcoin Bearish Signal: Whale Ratio Continues To Stay At High Value

Bitcoin Bearish Signal: Whale Ratio Continues To Stay At High Value

5 hours ago
bitcoin

Perp Traders Remain Quiet As Bitcoin Struggles To Hold $30,000

7 hours ago
CoinEx Charity Book Donation Worldwide: Over 10,000 Books for Children’s Dreams

CoinEx Charity Book Donation Worldwide: Over 10,000 Books for Children’s Dreams

7 hours ago
Six Years of Relentless Efforts: ViaBTC is Always on the Way

Six Years of Relentless Efforts: ViaBTC is Always on the Way

7 hours ago
Top 3 Web3 Coins to Watch in 2022

Top 3 Web3 Coins to Watch in 2022

8 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Interest-free Loan, New way of Assets Increase

May 26, 2022

Hoskinsea Partners with Pavia land to Setup A Virtual Headquater On The Metaverse

May 26, 2022

The first free and equal digital country – HyperNation global theme conference was held

May 26, 2022

HyperNation’s event launch sales on HITCHHIKER OF STAR (H.O.S) went out like wildfire

May 26, 2022

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World

May 26, 2022

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

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 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.