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- Technically bullish ripple price
- Brad Garlinghouse confident of more "switch" banking.
- Transaction volumes have a low average of 26 million as a consolidation of XRP
Ripple's CEO is satisfied and expects the bank's total to increase by the end of the year. So far, 200 banks use the network, which means that Ripple controls 2% of SWIFT's market share.
Price analysis of undulations
foundations
The Ripple community could be exaggerated, enthusiastic about progress. However, the truth is, RippleNet, the underlying ledger that holds xCurrent, xRapid and xVia-pales together with SWIFT, a 40-year global payment network made up of banks. With enthusiasm, Brad Garlinghouse said that banks could be ready to "flip the switch" and enjoy a cheap and convenient system, but at 200 against 10,000 banks using SWIFT, Ripple managed to cut only the two for one hundred percent of SWIFT's market share.
In addition, of the 200 banks, 13 companies use the xRapid system that exploits XRP as a liquidity tool. Therefore, all things constant, there seems to be an underestimation of the XRP and if it remains as it is, the speculators think that Ripple is the next "Amazon". The only distinction, in this case, is that it will have a fair valuation and a capitalization of one trillion dollars.
Candle arrangements
With a market capitalization of $ 13.349 million, XRP is the second most valuable currency. Nonetheless, you could lose this position too much if there are quick ETH price gains in the next 24-36 hours, the network is updating. However, since candle arrangements favor bulls, our previous XRP / USD trading plan is valid.
Note that XRP has found medium-range support, just above 30 cents, which means bulls have the upper hand. For security reasons, we will trade in line with the 2018 earnings and this requires patience until there are substantial gains in excess of 40 cents, a key trend line of resistance that marks the low level of Fibonacci retracement of 61, 8%. The break above should be accompanied by volumes above average.
After that, both groups of operators should aim for 80 cents and later at $ 1.65. On the flip side, losses of less than 25 cents invalidate our bullish overview.
Technical indicators
So far, our benchmark is 10 bars bear January-83 million against 30 million. Compared to the recent average of 26 million, it is clear that trade volumes are becoming smaller and for gains exceeding 40 cents, support volumes should not exceed only 80 million but equal to or above 123 million or 24 December.
