Time for Ripple (XRP) Bulls, Support Found at 30 Cents—Again!

Dalmas Ngetich

1 year ago

2 mins read

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Ripple (XRP) consolidates but bulls in control
CoinBase support very bullish—price and regulatory wise
Transaction levels dip as prices drop

Until after Ripple (XRP) prices rally above 34 cents, we shall maintain a neutral but bullish outlook. Confidence is because of recent CoinBase addition, increasing adoption levels and a possible recovery of Bitcoin.

Ripple Price Analysis

Fundamentals

Crypto is all about relevancy and of the many, XRP is a standout. The coin is the third most liquid, high supply digital asset of the XRP Ledger. While there is contention whether the currency is entirely decentralized and therefore a utility, the addition at CoinBase did calm some nerves. It did because CoinBase, even if it is trudging in a storm right now, is reliable and asserts for compliance.

Add that to their preference of proof of work networks and the shift to XRP consensus type—proof of correctness is a show of confidence in a ledger designed explicitly for big banks. Although the debate will rage as long as Ripple Inc holds the majority of the XRP tokens—and outrageous comments that Ripple Inc is running a well-orchestrated Pump and Dump scheme, their progress must be lauded.

SWIFT dominates but Ripple is less than ten years old and as the benefits of blockchain permeate, there is no reason why banks will shift to this new, efficient and cost-effective global payment system.

Candlestick Arrangements

One week after CoinBase announcement, bears have reversed all the gains made on Feb 25. Even so, prices are trading above the solid 30 cents floors. At this pace, we expect prices to edge higher in line with Feb 25 trends. That means prices may rally above 34 cents as risk-off traders buy breakouts with first targets at 40 cents.

Today’s bar may close with a long lower wick as bulls reject lower prices which is overly bullish. Once again shows the strength of 30 cents as reliable support, a probable base for higher highs. All the same, as long as prices are trading within these tight trade ranges and bulls have the upper hand, we shall maintain a neutral but bullish outlook on Ripple (XRP) as we expect a break and close above 34 cents.

Technical Indicators

Dropping prices is causing participation levels to fall. Recent averages are at 30 million and in comparison with Feb 24—61 million, the only way XRP bulls will be in control is if volumes swell above 30 million and 61 million.

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.