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Latest news from Ripple
Look at it this way: 2018 has been bearish and some activities have fallen> 95% compared to the peaks of 2017. Regardless of this, basic activity is increasing. Of course, compared to the beginning of last year, the mentions of XRP, Bitcoin and even crypto were minimal only exploding towards the end of last year thanks to the sharp rise that pushed XRP and Bitcoin into the limelight.
Despite falling prices, coin issuers are recording new milestones. In Ripple, Cory Johnson – a former journalist with Bloomberg and Chief Marketing Strategist – said members of the company were in constant communication with the White House unmasking speculation that the US SEC would eventually classify XRP as a utility .
Apart from the speed and efficiency of the costs that Ripple solutions present, Brad Garlinghouse and others have been put to work by critics who are convinced that the network is centralized and that the network can work in isolation without XRP.
Nevertheless, Ripple is resisting this criticism and with a well-executed decentralization demand, Ripple has now given control of the Unique Node List to third parties and now owns 47% of all Validators.
Ripple performs 47% of the validators on the recommended unique node list. UNL has only 21 validators for a long time. There are over 100 operational validators
– Eberhunden (@Eberhunden) August 22, 2018
Perhaps this – and the steps they are taking, leading to more partners and referring to institutions – as the XRP report for the third quarter shows a significant rise in XRP sales from $ 16 million to about $ 98 million and widespread use in the economies of ASEAN could feed the next wave of bulls XRP.
XRP / USD price analysis
Even with bears threatening to push prices below significant levels of support, the XRP / USD is technically bullish until prices are traded over the last week of November. On the spot, XRP is down 2% on the last day, but with price stagnation, our previous forecast is valid. We anticipate that XRP / USD will expand above the lower resistance level and perhaps we will retreat 60 cents by the end of the year.
Trend: flat, bullish
From a top-down approach, the XRP is bullish, but the recent devaluation has seen the withdrawal of prices from September highs stalled from around 35 cents to 40 cents of the main support zone. Unless there are large disruptions below this decreasing support as bears aim for September lows and later at 15 cents.
Volumes: decreasing, bullish
Clearly, XRP / USD is on the trend of an accumulation. Yet, in the middle of this, we expect buyers to stay on top and even exceed 40 cents by triggering bulls. At the moment, prices are fluctuating within November 25 on high low. This is a print of bull pin bars in the middle of a strong bear moment. With volumes above average – 188 million against an average of 92 million and bullish, we expect volumes to synchronize and exceed the limits. However, if there are falls below 30 cents or lows in November, the breakout bar must record bear volumes above average above 70 million.
Candlestick training: Bull Breakout, Bull Flag, Accumulation
When we filter noise, the price action of XRP / USD is traded inside a bull breakout model and with 30 cents plans, the base serves as the main support for a bull's flag. Currently, the small accumulation of 7 cents by the twenty-fifth high-low average price is going. Therefore, the breakout direction is important for the short and medium term trend of XRP.
Conclusion
However, none of our trading conditions mentioned in our latest XRP / USD price analysis is live. But we are positive at the XRP analysis of 60 cents per year, even more so if there are clean breakages above 40 cents – our line of minor grafts.
All graphics courtesy of Trading View.
This is not an investment tip. Do your research.
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