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Latest news from Ripple
In addition to government authorities, companies are monitoring space. Crypto, as a representative of the Bank of International Settlement, is an "evil progeny of a crisis".
By design, coins are designed to complement and even replace traditional currencies issued by the government. Devastated by hyperinflation and a total lack of trust for Fiat, Venezuelans use cryptography to pay for their daily expenses.
On the other hand, Ripple is relying on xRapid, xCurrent and xVia to replace the SWIFT that most global banks are using. The unfortunate thing is that it was armed and at the height of the feud between Iran and the United States, the US government has threatened to cut Iranian banks from the payment network. Such a move would be disastrous for the locals and, while banks might find an alternative, subsequent shocks would be detrimental to real-time savings.
As a result, there is no doubt that Western Union, one of the largest non-bank remittance companies in the world, maintains a bullish perspective on Crypto and Ripple. Their possible integration depends on the level of adoption.
In one post, the president of Western Union for global money transfer, Odilon Almeida, said:
"Cryptocurrency could become another option for a way of exchanging goods between people and countries, if that happens, we would be ready for launch."
Ripple (XRP / USD) Price analysis
At spot rates, XRP is down 5% on the last day and 23% on the previous week. Still, this is positive and is only the necessary basis for higher highs above 40 cents and even 60 cents in the coming weeks. While the community is overly confident, the bulls have yet to break and close the 40 cents. This is a retracement from the highs of December 20, but as long as prices are above 33 cents or November lows, we'll consider every other purchase opportunity in line with our latest business plan. XRP / USD.
In the 4HR chart, the XRP bulls are slowing down. After a week of double-digit earnings on a weekly basis, the retracement is a gift. The positive thing about this correction is that the accompanying volumes are low and trendy above 33 cents. As such, the bulls are technically in charge.
Therefore, if prices fall below 35 cents, XRP prices could retest 33 cents, and it is at this level that we expect buyers to enter fair value. However, the best approach is to wait for earnings above 40 cents, an important level in our analysis. The long rumors would be more attractive if supported by average volumes that exceeded December 20, 1100 human resources for 26 million.
This is our short-term XRP / USD business plan:
Buy: 40 cents
Stop: 37 cents
Objectives: 55 cents, 80 cents
All graphics courtesy of Trading View
Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
