Ripple (XRP) Trading as Designed—Stable, Will 30 Cents Hold?

Dalmas Ngetich

Last Updated: June 11, 2024 9:14 pm

2 mins read

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Ripple (XRP) prices flat
Banks and payment processors sign agreements with Ripple Inc

Prices are stable but not consummate with fundamental factors. With Ripple Inc striking deals and signing partnerships, Ripple (XRP) demand should be higher reflecting demand. However, that is not the case as XRP/USD range inside a 4 cents zone.

Ripple Price Analysis

Fundamentals

Because of the nature of crypto and expectation of project supporters, an influential position within the project’s hierarchy is akin to a political role. Perhaps that’s why Satoshi Nakamoto, the founding father of blockchain and Bitcoin has his privacy kept as a close to the chest. He or she chooses to remain anonymous and to some extent, considering all the media attention in recent days, David Schwartz may be wishing to be away from the public limelight just like the public-shy, Arthur Britto. He’s brilliant, and Ripple Labs spokesperson said: “Arthur is an introvert and super private and he has no desire to be a public figure due to personal reasons.”

PUBLIC PLEDGE!!

Satoshi Nakamoto is the architect of Bitcoin1.0
I believe Arthur Britto to be the architect of Bitcoin 2.0 aka XRP
I believe they are the same "person"

If anyone can prove me wrong with a picture of either – I will convert my XRP to BTC, and give you 1x BTC 😮 pic.twitter.com/jfyii3aKyr

— Ipso Facto (@cryptohodler16) February 9, 2019

Undoubtedly, he is an important cog in Ripple Inc and indeed Ripple Labs, “conceiving the idea of Ripple with McCaleb, the current CTO of Stellar” before later involving Chris Larsen. After selling part of his XRP holdings, said to be three percent of the total circulation, he came under public scrutiny with some Twitter analysts saying it was indeed a straight forward signal that the third most liquid asset is bearish. Nonetheless, Ripple (XRP) is under pressure and immune to Ripple Inc progress of striking partnerships with leading banks and fund transfer firms as SABB.

Candlestick Arrangement

At spot rates, Ripple (XRP) is stable adding 1.4 percent in the last week. Even so, technical candlestick arrangement points to an asset under sell pressure. Although it is until after XRP prices drop below Q1 2019 lows of 30 cents or Jan 30 lows, traders are cautious. It is easy to see why.

From an effort versus results point of view, the lack of conviction from buyers to comprehensively reverse losses of Apr-24-25 is bearish. However, the consolidation inside Apr-30 high low—a bullish candlestick is positive for traders.

Nonetheless, before we initiate longs, traders must wait for gains above 34 cents as the double bar bull reversal pattern of Apr-25-26 is validated. On the flip side, losses below 30 cents must be with high volumes exceeding yesterday’s average and most importantly, those of Apr-3.

Technical Indicator

As aforementioned, buyers are struggling. However, candlestick arrangement points to bulls in line with Sep 2018 upswing whose high-low is where prices are oscillating in. For trend continuation, prices must rally above 34 cents and accompanying this reversal must be volumes exceeding 36 million or 98 million of Apr-3.

Chart courtesy of Trading View

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.

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.