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- Ripple of constant and bullish price
- The pride of Brad Garlinghouse, xRapid is gaining traction
- Transaction volumes become thin when XRP consolidates within the January minimum of 14
Prices can be everywhere and consolidate inside the bar on January 14, but our latest analysis of XRP / USD prices remains the same. As long as XRP prices exceed 30 cents, bulls have the possibility of rallies, thanks to the increase in xRapid's adoption.
Price analysis of undulations
foundations
Sometimes, the news said that Ripple could be in an advanced stage preparing to launch a product called Convergence. By integrating xCurrent, xRapid and xVia into one seamless format, customers can travel comfortably on a certified secure and fast network.
Although there was no official collaboration from Ripple who approved the comments of Ripple's Director of Talent Acquisition, Jim Chauncey-Kelly, the aggressive campaign of Ripple recruitment last year revealed the company's trajectory.
The story then dissolved in the inter-web with Ripple that changes the structure of their home page and launches a new xCurrent update that allows companies to integrate xRapid. Although the adoption was not as expected, this is progress, and in a recent interview, Brad Garlinghouse, Ripple CEO, said:
"Not many months ago, the media were saying that no one will use XRP, which made good skeptical titles appear, and today we can not say that people are starting to use XRapid because it's better, faster, and cheaper."
Candle arrangements
At spot rates, XRP is down 10% from last week's close of the previous day. However, our commercial position is the same, and as long as a green candle prints over 30 cents, there is an opportunity for traders to take advantage of the planned rally. If prices can not print higher today, XRP would be stuck in a consolidation by January 14th.
In an effort against the result point of view, this is bullish and aggressive players can seize this opportunity to charge longs at spot rates, albeit with stops close to January lows of 31 cents. This is out of the Fibonacci retracement of 78.6% based on the December 2018 minimum.
Meanwhile, conservatives should expect a complete close above 40 cents, a break, before opening positions with targets as set out in our latest XRP / USD trade plan.
Technical indicators
Volumes are thin and this means that the XRP / USD market is fragile. Driving and cementing our short-term price preview is like printing transaction volumes. What we have to see are highs above 40 cents, whose volumes exceed 83 million in January of the 14th.
