• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
technical analysis altcoins
Sensei Inu Logo

XRP Price Analysis: Ripple’s Plan for China, Hiring A Country Manager

Dalmas Ngetich by Dalmas Ngetich
5 years ago
in Uncategorized
Reading Time: 2 mins read
  • XRP price technically bullish
  • Ripple to hire a Country Manager, plans to open a physical office in Shanghai
  • Transactional volumes are low, may rise if prices recover from 30 cents

Ripple has grand plans. After funding the Fintech Research at Tsinghua University (THUIFR), the company plans to open a physical office in Shanghai. To that end, they are hiring a Country Manager. The trajectory taken is indicative and a hint of future involvement in China. This is in line with our XRP/USD trade trajectory.

XRP Price Analysis

Fundamentals

With each passing day, the significance of SE Asia continues to show. It was only until recently that China played a key role in the crypto world. Their citizens were the first lot to pump BTC prices from $0.001 to $1 in the formative stage Bitcoin.

However, things are different now. Despite restrictive rules around cryptocurrencies, Ripple is unshaken. The company honchos have grand plans for this crypto-isolated state and are working through proxies and partners.

One of them is Lian Pay, a Hong Kong-registered company with approximately 150 million users. The company has plans to tap into the lucrative e-commerce space estimated to hit $1.38 trillion by last year. Aside from Lian Lian Pay, Ripple plans of opening a physical office in Shanghai and hiring a Country Manager. The new addition will liaise with the SF office and drive Ripple solutions in China as the LinkedIn post states:

“Partner with Ripple leadership in San Francisco to define and execute a strategy for building Ripple China to be a significant contributor to the growing Ripple network.”

Candlestick Arrangement

Ripple

Apparently, sellers have a better of bulls. At current exchange rates, XRP is down 1.2 percent in the last day and 2.1 percent in the previous week. All the same, we shall retain an optimistic view of the coin, expecting demand to support prices at spot rates.

Note that despite headwinds and energy sapping lower lows, fundamentals are bullish. Besides, candlestick arrangement favors bulls because even after five days, sellers are yet to reverse Jan 30 losses. XRP is trending within Jan 30 high low, and this alone is bullish from an effort versus results point of view.

Therefore, as long as bulls have the upper hand, we expect prices to drift above Jan 30 highs confirming bulls. In turn, this will set the ground rolling for further gains towards 34 cents triggering the first wave of buyers aiming at 40 cents.

Technical Indicator

A stand out bar in the last few days if Jan 30 bull bar. It was timely, providing support for bulls at a vital support line of 30 cents. With high volumes—47 million versus 17 million, buyers will only be in charge if there is a spike in market participation leading to breaks above 34 cents. In a bull trend, we expect accompanying bulls to exceed 47 million and ideally those of Jan 10—83 million.

Tags: Rippleripple chinaxrp
Tweet123Share212ShareSend
Dalmas Ngetich

Dalmas Ngetich

Dalmas is a crypto reporter covering NFTs, blockchain, DeFi, and blockchain news for NewsBTC. He’s part of a team of talented team working on bringing latest crypto development across the board. Dalmas is also the ex-founder of btc-pulse.com, a crypto news outlet. Dalmas has over 10 years of experience covering Forex, general finance, technology, and blockchain developments. His work and that of his partners has been featured in top news outlets including investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. He’s passionate about technology and politics. When he’s not keeping tabs on crypto events, you’ll find him out in nature, exploring and traveling with family and friends. You can follow Dalmas on Twitter @Dalmas_Ngetich or ping him on Telegram @Dalmas_Ngetich

Related Posts

FTX

FTX CEO’s Asset Recovery Escalates As Sam Bankman-Fried Trial Looms

4 hours ago
CRV Spikes 22% In 2 Weeks As Whale Withdraws From Binance

CRV Spikes 22% In 2 Weeks As Whale Withdraws From Binance

5 hours ago
Shiba Inu (SHIB) Burn Rate Sees Exponential 627% Jump

Shiba Inu (SHIB) Burn Rate Sees Exponential 627% Jump

6 hours ago
Coinbase

Coinbase Holds $25 Billion Worth Of Bitcoin, Becomes Largest Holder With 1M BTC

7 hours ago
Polkadot parachains

Polkadot To Increase Parachains By 10X, Will This Support Free-Falling DOT?

8 hours ago
81 Fresh Binance Wallets Withdraw $31.58 Million LINK

81 Binance Wallets Withdraw $31 Million In LINK, What This Mean For The Altcoin

9 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Arbitrum (ARB), Toncoin (TON), and Tradecurve Markets...

    17 hours ago
  • Top Meme and Utility Tokens to Watch Out For in 2023...

    17 hours ago
  • Bitcoin Miners Go Bankrupt As Bitcoin Spark Looks To...

    17 hours ago
  • Massive Potential Unveiled: Hedera, dYdX, Kangamoon, Poised...

    17 hours ago
  • Uwerx’s Recovery Blueprint Ignites Momentum With The...

    19 hours ago

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.

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 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.