• 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
technical analysis xrp
Nexo Logo

XRP Slides 23.4%, Mnuchin Presser A Ray of Hope For Ripple

Dalmas Ngetich by Dalmas Ngetich
3 years ago
in Uncategorized
Reading Time: 2 mins read
Advertisement
  • Ripple (XRP) is down 23.4 percent
  • Like Libra, proper regulation will see XRP soar

Steven Mnuchin presser highlights the significance of oversight. Appropriate controls would either destroy or boost Ripple’s ambitions of building a sustainable web, the Internet of Value, where XRP plays a significant role. Currently, sellers are at the lead as prices tumble 23.4 percent from last week’s close.

Ripple Price Analysis

Fundamentals

To flourish and positively impact livelihoods, Ripple’s expansion largely depends on how regulators perceive their products. Of the three core solutions, xCurrent is the most adopted. At the same time, xVia is on the periphery while the use of xRapid is drawing unwanted attention.

Often, critics slam Ripple not because of their speedy and efficient options or their drive to replace legacy platforms, but on their view of centralization. Since the San Francisco based startup owns a majority of XRP, there are concerns that prices are prone to market manipulation.

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

It’s all because XRP is a liquidity tool, a medium of exchange which facilitate near instantaneous conversion of fiat. Already, Ripple has forged partnerships with leading exchanges like Bitstamp, Bittrex, and Bitso opening up corridors to Mexico and the Philippines.

However, if there is clarification on what XRP is-whether it is a utility or security, then payment providers as Ramessa Online, for example, will quickly jump in, upgrade to version 4 of xCurrent incorporating xRapid in their operations.

Because of this need, the US Secretary of Treasury, Steven Mnuchin, in a recent presser addressing regulations said:

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

“With regard to Facebook’s Libra, our overriding goal is to maintain the integrity of our financial system and protect it from abuse. We’ll make sure the general public and investors understand what they’re investing in and whether it’s the SEC or other regulators there [will be] proper disclosures.”

Candlestick Arrangements

Ripple XRP

At the time of writing, XRP is down 23.4 percent week-to-date. Retesting the main support line of 30 cents, bears are in control. To reiterate, the short-to-medium term price trajectory of XRP depends on reaction at Q1 2019 support.

If the latter is the case, buyers stand a chance. As a result, aggressive traders would buy the dips. After that, first target will be at 34 cents and later 40 cents.

Not only will this confirm an extended continuation, but the positive reaction will set in motion a possibility of a strong surge past 40 cents and even 50 cents to Sep 2018 high of 80 cents validating this trade plan’s stance.

Technical Indicators

In that case, a trend defining or nullifying candlestick must have high trading volumes exceeding 187 million of May 14. The bar, in this case, must either lead prices above 40 cents or close below 30 cents triggering panic sells with targets at 17 cents or lower.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

Tags: MnuchinRipplexrp
Tweet123Share234ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Ethereum

Ethereum Gas Fees Touch New Lows, What’s Ahead For Ethereum

11 hours ago
Cardano Slides Below $0.50 Alarming A Danger Ahead

Cardano Slides Below $0.50 Alarming A Danger Ahead

14 hours ago
Cardano

Cardano TVL Sheds $205 Million Since Hitting All-Time High

16 hours ago
ethereum

Bearish Indicator: Is Bitcoin Headed For Its Ninth Red Weekly Close?

1 day ago
ethereum

Ethereum Profitability Dumps To 2-Year Low As Price Corrects Below $2,000

1 day ago
Cryptocurrency

Cryptocurrency Mining Chip Producer Nvidia Reports Significant Profits After Decline

2 days 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

Top 3 Defi Cryptos To Buy This Month: CashFi (CFI), Compound (COMP), and Ethereum (ETH)

May 28, 2022

Cryptos that aim to revolutionise crypto technologies in 2022 – Sanzooz Finance (SZFT), Avalanche (AVAX), and Cardano (ADA)

May 28, 2022

3 Cryptos To Buy This May, Mushe Token (XMU), Decentraland (MANA), Axie Infinity (AXS)

May 28, 2022

Award-Winning Projects of the $1,000,000 KCC Unicorn Contest

May 28, 2022

Gringotts Labs rolls out Lending Protocol Zenith after Capricorn Finance becoming a winner

May 28, 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.