Up 15.1%, Ripple (XRP) Likely To Emulate BTC’s Performance

Dalmas Ngetich

6 years ago

2 mins read

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Ripple (XRP) up 15.1 percent
Widespread use of xRapid is the only insurance for XRP investors

Armed with solutions that speed up processes, Ripple may replace SWIFT. Use of xRapid draws demand. For XRP investors, widespread adoption is the only route for better prices. Expectedly, demand for XRP will fuel the next wave, propelling prices out of this 10 cents range towards 60 cents or higher.

Ripple Price Analysis

Fundamentals

There is hype around Libra and Facebook’s Libra. Supporters argue that Ripple will weather through Libra disruption and cement its position as a cheaper alternative for the unbanked. Given the edge that Ripple as a platform has like speed, the entry of Libra will no doubt be a game changer.

However, countering Facebook’s broad base, Ripple will capitalize on their growing number of banks and payment processors. Aware that Libra could disrupt existing financial and money transfer landscape, Ripple could offer a way through.

MoneyGram is indisputably a selling point. Despite struggling with finances, leveraging xRapid will be the turnaround for MoneyGram investors. The option is speedy, efficient, and above all, equally beneficial for XRP investors in that demand will mostly stem from their operations.

Furthermore, through Xpring, is financing startups that are actively building use case around XRP. Wietse Wind and Stefan Thomas are rolling out products that in the long run, allows XRP not only to be a bridge currency but as a medium of exchange.

Candlestick Arrangement

Price wise, XRP bulls are on a roll. Even though they are struggling below 50 cents, there is a notable spike in activity. Catalyzing this are external events like the rise of BTC and fundamental factors favoring xRapid use.

From the charts, it is essential that bulls generate enough momentum, thrusting prices above 50 cents with high transaction volumes. After all, XRP is technically bullish if dissection is from a top-down approach.

Note that XRP prices are oscillating within the week ending May 19th bull candlestick. Instead, the bullish bar is also within the trend defining Sep 2018 candlestick. The failure of bears to wipe out May gains a hint of underlying demand. As such, aggressive traders can load up in readiness for a probable close above 50 cents with targets at 60 cents and higher.

Technical Indicators

Trading volumes matter in this trade plan. Revealing the correct trend and willingness of participants, it would be perfect if the rally past 50 cents is with high trading volumes exceeding 94 million of May 30th. That will surpass current averages of 32 million as bulls commit.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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.