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XRP Price Analysis: Ripple Great For Banking—Brad Garlinghouse

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis xrp

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  • XRP price stable and ranging
  • Brad Garlinghouse says XRP and Ripple solutions fundamentally rewiring
  • Transaction volumes low—reasons for a ranging market

Fundamentals and technical candlestick arrangements support XRP. However, for a bull trigger, XRP prices must rally past 34 cents at the back of high transactional volumes. Catalyzing this demand should be positive fundamentals.

XRP Price Analysis

Fundamentals

Brad Garlinghouse is right. A blockchain platform valuation is directly proportional to its demand or usefulness. It’s a reiterated adage that rings true regardless of the project’s ambition. To this end, Ripple is striving to draw value. And they have been pretty successful. As a network that caters for the needs of global banks, their system is secure and above all efficient. Ripple’s speed and efficiency give it an advantage over other platforms.

In a CNBC panel discussing the future of crypto, Brad said Ripple’s solutions provide an opportunity with to adopting banks a chance to “fundamentally rewire how modern financial infrastructure works in the pre-funding:”

“There is an opportunity to rewire how modern financial infrastructure works in the pre-funding fundamentally. You have about $10 trillion pre-funded to banks around the world to enable cross-border payments. You could take that $10 trillion and use it for other purposes, which is great for society. It’s great for banking. It’s great for the industry. So that’s what we’re trying to re-wire. We’re lucky to now have about 200 banks that have signed up. We’ve got a long way to go.”

Candlestick Arrangements

Ripple

Meanwhile, XRP is stable and down 3.8 percent against the USD in the last week. Since prices are ranging—like other assets, and trending above the all-important support at 30 cents, traders should interpret it as bullish.

As laid out yesterday, risk-off traders should wait for a complete break and close above the 50 percent Fibonacci retracement level of Dec 2018 high low at 34 cents. Accompanying this breakout should be above average volumes forming the foundation for further expansions. After that, we’ll have a three-bar bull reversal pattern solidifying our bullish conviction with modest targets at 60 cents.

Technical Indicators

While we are net bullish, accompanying volumes confirms why prices are ranging within a 2 cents zone. From the charts, volumes are low—averaging 17 million which is nothing when we compare with those of Jan 10—83 million when averages were 30 million. Ideally, gains above 34 cents should be supported by volume exceeding 17 million and even 30 million—above those of Jan 14.

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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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