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- XRP prices bullish. Targets at 40 cents
- InstaReM join hands with Visa in the Fast-track Program
- Transactional volumes shrink but could rise as buy momentum pick up
After SWIFT and Corda Settler announcement, InstaReM is now collaborating with Visa to enhance Fintech’s money transfer arrangement. Everything else constant, this is good news, and as XRP find support in lower time frames, it is likely that prices will inch higher towards 40 cents in coming days.
XRP Price Analysis
Fundamentals
Latest news is that InstaReM—a money service provider that mainly serves the Asian market and a Ripple partner has joined Visa’s Fast-track Program.
The objective of this program is to give Fintechs in Singapore better payment experience. That means speed, veracity, and efficiency which is lacking in legacy systems.
We are excited to announce that InstaReM has joined @Visa’s #Fintech fast-track program, which makes it quicker and easier for fintechs in Singapore to build and deliver new #payment experiences powered by InstaReM. Read more: https://t.co/4W7jYMgv9q #Fintech #News
— InstaReM (@InstaReMit) February 1, 2019
Together with Visa, the two companies will work toward building new solutions that will lead to fast, cheap and efficient money flow between countries.
To that end, Prajit Nanu, co-founder, and CEO of InstaReM said they would begin issuing out cards to new partners within the first month of joining the program down from nine months it used to before the partnership.
The head of Visa’s Digital Partnership in Asia Pacific Hamish Moline said:
“Even with all the digital forms of payment that exist today, transferring money internationally can still be a time-consuming, inefficient process. We are keen to work together to tackle an area of payments where there is still a lot of opportunities to bring innovation to the customer experience.”
Candlestick Arrangements
XRP/USD price action points to bulls, and at stop rates, prices are stable. Because of our previous guidance, it is likely that XRP prices will expand over the weekend, confirm the bull bar of Jan 30. Subsequently, this shall set in motion the next wave that will pump prices back towards 34 cents and most importantly above 40 cents.
It is easy to see why. Notice that the past two bars do confine XRP prices inside Jan 30 high low. From an effort versus result point of view, this is bullish. Already, there is a long lower wick hinting of buy pressure in lower time frame meaning our trade conditions will likely be true in due course. Should prices rally above 34 cents, then risk-off traders can buy on dips with first targets at 40 cents and later Dec 2018 highs of 60 cents.
Technical Indicators
Technically, bulls have an upper hand as mentioned above. But, from an effort versus results, approach, we first need to see gains above 32 cents confirming buy pressure of Jan 30. Volumes should preferably exceed 47 million on the upper end and 15 million current averages on the lower end. Moves as such will lay the building blocks for 40 cents and 60 cents.
