Home / Coin Payment / Price analysis of the corrugations: accumulation of XRP, accumulation of pressure of the bull

Price analysis of the corrugations: accumulation of XRP, accumulation of pressure of the bull

  • Corrugation prices are stable above 30 cents
  • The SWIFT-Ripple race should warm up in the coming days
  • Low and falling transactional volumes

The success of XRP depends on the adoption. That's why an increase in xRapid users is bullish for investors. Also in this case, the decline in XRP prices has been deflated and, after 12 months of lower lows, we expect Sep 2018 to guide the medium-long term price trajectory.

Ripple Price analysis

foundations

As long as SWIFT dominates, we expect competitors to intensify their marketing by proposing to potential customers, especially in areas where most are not shelved and have no access to financial services. Such was Ripple's effort.

With three main products: xCurrent, xVia and xRapid, we can say conclusively that they have been very successful. However, they still have a long way to go. As a ledger explicitly addressed to financial institutions, the only way that average investors will benefit is when majority banks incorporate Ripple technologies and adopt xRapid.

This is a solution that guarantees speed, efficiency and cost reduction made possible by using XRP as a liquidity tool. So far, 13 companies are benefiting from xRapid, but 13 is a mere drop in a global cross-border payment system estimated at 2 trillion dollars by 2020. If Ripple will win over customers and there is regulatory clarity around XRP and xRapid , we expect the surge demand, raising prices with it.

Candle arrangements

Ripple

At the time of printing, XRP had increased 1.2 percent from yesterday's close, trading hands at around 32 cents against the USD. Considering the price of yesterday sinks, this is positive and cement our previous statements.

However, conservative and aggressive traders should be on the sidelines until our trading conditions are valid. Since we are confident in the network with the indications of the surge of September 2018, a safe approach is to wait for price fluctuations to show an XRP of more than 34 cents.

A simple Fibonacci retracement between the low of December 2018 puts this buy-in trigger line at 50 percent. This is above the highs of 20 January, which means that the first wave of higher highs to keep so buyers must reverse yesterday's losses, preferably behind above-average commercial volumes, above 24 million.

Subsequently, the basis for further gains of 40 cents would have been firm and conservative operators would have anticipated the possible rallies to the 608 cents highs of December 2018.

Technical indicators

From a conservative approach, traders and investors would be monitoring the ability of XRP buyers to reverse yesterday's and January's losses. With volumes of 83 million versus 30 million averages, an accumulation of bull is needed. To reiterate our position, any increase in volume that pushes prices above 34 cents (or less than 30 cents) should exceed 24 million and ideally 83 million confirming the demand or offer depending on the direction of breakthrough.

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