Ripple (XRP) has declined 40% since the beginning of June, is currently close to its lowest price since December 2017 and falls of 89% from its all-time high. The market capitalization stands at US $ 44.35 billion (based on the total offer), with $ 228.46 million in the last 24 hours.
Discussions are under way on XRP, the currency and Ripple, the company. The XRP was historically the ticker symbol for the cryptographic resource called Ripples. In an attempt to reduce confusion, Ripples has been replaced by the ticker, and the new XRP has a redesigned logo .
Ripple, the company, was recently hit by a third case where it was claimed that XRP was sold as an unregistered security. The complaint states that the XRP token had "all the traditional hallmarks of a security" and Ripple, the company, has often highlighted a profit motive deriving from the ownership of the XRP. Other cases state that the sale of XRP is an "infinite initial offer of coins".
Ripple Labs CEO, Brad Garlinghouse, said: "I think it's very clear that XRP is not a security, it exists independently of Ripple the company" However, according to Garlinghouse, Ripple owns about 60% of XRP. The US Securities and Exchange Commission made a positive decision on BTC and ETH, but has not yet published any guidance on XRP, leading to speculation that XRP could be penalized.
Ripple recently announced a venture capital arm, Xpring, which "will invest, incubate, buy and provide subsidies to businesses and projects run by established entrepreneurs". According to the website, they are already "evaluating a pipeline of over 100 companies and projects".
Ripple is also targeting India as an emerging market for new users, having already worked with three Indian banks; Axis Bank, YES Bank and Kotak Mahindra Bank. Ripple Vice President Asheesh Birla said that Ripple entertained the thoughts of a huge air flight to the people of India, while he was at the recent Scaling and Digital Disruption in the Fintech conference.
Ultimately, Ripple decided to turn to Indian mobile providers. According to Birla, "over the next five years, one billion people will become a bank in India, but will be channeled through their phone."
On 27 June, the CEO of the Bank of State Group of India (SBI) and chairman of SBI Holding, Yoshitaka Kitao, said that he had heard "Ripple [is] the only company that has provided proven business solutions and the traction of global customers, including trade agreements with the best banks already signed in Asia Pacific. " 19659002] Kitao probably referred to the suite of tools provided by Ripple Labs, including; xCurrent, which processes the global bank for bank payments for customers and is similar to SWIFT; xRapid, which feeds on-demand liquidity; and xVia, which connects to RippleNet to send one-way payments.
xRapid requires the use of XRP while xVia and xCurrent no. Companies that are currently testing xRapid for use include; MoneyGram, Currencies Direct, Mercury FX, Western Union, IDT, Cambridge Global Payments and Viamericas. Companies that use xRapid include; SBI Virtual Currencies, Cuallix and Zip Remit. The complete list of Ripple partnerships can be found here.
On the network side, daily transactions fell to ~ 600,000, equivalent to 8.83 transactions per second. Transaction fees, related to network traffic, were minimal compared to other currencies and are currently around $ 0.0011 per transaction.
The network currently has 732 public nodes, while the top 100 largest XRP accounts hold 81% of the money supply. In an attempt to further move away from the ledger control, Ripple announced the addition of four third-party validators; BahnhofAB (Sweden), FlagshipSG (United States, Florida), Telindustelecom (Luxembourg) and WorldLinkUS (United States, Texas).
Kalichkin's 30-day net value is estimated in -chain daily transaction ratio (NVT) rose from April 2018 to mid-May 2018 and began to decline . NVT inflection points can be a guide for future price action. Lately, even NVT has been lower, showing evidence for an increase in transactional value and utility. Although NVT is difficult to compare between currencies, which use different types of transactions, it can be useful when comparing the relative utility of networks over time.
The exchange volume traded was led by the Bitcoin (BTC) and Tether (USDT) pairs with Japanese Yen (JPY) and Korean Won (KRW) pairs not far behind. Since January 2018, USDT has continued to consistently earn a percentage of the total volume. Most of the trading took place on Bitbank, Hitbtc and Binance.
Ripple rises on thin ice from a technical point of view, but continues to fall less and less volume. A strong inversion or a slow haemorrhage may be equally probable. To prepare both results, you can use indicators such as exponential moving averages, chart patterns, Bollinger bands, Ichimoku Cloud and Pitchforks to plan a road map. Further basic information on the technical analysis discussed below is available here
In the two-day chart, the exponential moving averages (EMA) 50/200 have strictly tightened the price of XRP in recent months, which also has was the case of Bitcoin. A 50 / 200EMA bearish cross over this period would likely result in a significant return to the previous consolidation zone around $ 0.20. A net break of 50EMA at high volume would suggest a new level of resistance near the historical maximum, around $ 3
The two-day chart also had a chart of multi-month head and shoulders, a bullish inversion configuration, which has recently been invalidated. The distinguishing features of this bullish inversion model include a descending volume profile and a series of three extreme minima, with the second bass exceeding the first and third minimums. Not only did the price fail to reach the neckline, but the lower right shoulder was violated. The volume profile continues to show a downward trend.
In the daily chart, there continues to be a 50 / 200EMA bearish cross with the price that has moved away from the 200EMA since April. The open interests on Bitfinex are very long, with the maximum close to the historical highs (upper panel, graph below).  On the daily chart, the Bollinger Bands (BBands) are shown a break through the lower band, suggesting a further disadvantage. The BBands measure volatility and attempt to predict the direction of price action while consolidation occurs. If an interruption occurs while the price is less than 20SMA, the indicator suggests the beginning of a bear trend. The BBands expand with volatility, after the move has taken place. The previous two moves down this year have occurred with similar compression of the BBands.
Ichimoku Cloud metrics in the span of two days are strongly bearish; the price is below the Cloud, the Cloud is bearish, the cross TK is bearish and the Lagging Span is below the Cloud and the price. The cloud uses four metrics; the current price in relation to the Cloud, the color of the Cloud (red for bearish, green for bullish), the Tenkan (T) and Kijun (K) cross and the Lagging Span. The best voice always occurs when most signals go from bearish to bullish or vice versa.
Although the metrics are clearly bearish, there are potential paths for a US $ 1.73 goal. The long Kumo flat represents a retracement target of 50% for the top and bottom of the range. The longer XRP remains in a range without making a lower minimum, the greater the likelihood of this target being reached.
The first key resistance level will be the Kijun at $ 0.697, which would also represent an optimal short entry target for a Kijun rebound. If passed, a bullish TK cross will likely occur shortly thereafter and will rise to US $ 1.73.
Cloud metrics on the daily chart are essentially the same as the two days, but the price is much closer to the Cloud. A traditional long entry will not occur until the price exceeds the level of the Cloud, which may or may not occur after a bullish twist of Kumo. Based on the Cloud structure, a price touch of $ 0.696 is possible as long as the price does not fall to a lower level. The TK lines also formed a C-clamp on both the daily and two-day charts, suggesting oversold conditions.
With the daily chart remaining, the price remains tied to a Bearish Pitchfork (PF) with anchor points in December and February. Although this channel has previously been invalidated, a three-month slowdown with a tight pricing structure gives credit to PF extensions. If support near $ 0.38 does not hold, a touch of the median line and monthly support at $ 0.25 is likely
Finally, the daily XRP chart / BTC, all Cloud metrics are bearish with a 50 / 200EMA downtrend. There is no bullish divergence. A long Kumo dish at 8,940 sats would be the bullish target if the price did not lower the lows and the inversion would occur.
Ripple, the company, continues to have many mobile parts, including further implementations of business solutions, distance itself from the XRP token and address claims that the XRP token represents an unregistered security. For a stranger, the company and the token are so closely related that it is difficult to understand the differences. Ripple, the company, continues to hold a majority stake in the token. Ripple / XRP efforts, including a change of logo and the addition of non-Ripple validators, suggest that Ripple is aware of this problem.
Technical data suggest an active bear trend with weakening momentum, based on volume and RSI. Intermediate upside targets include US $ 0.70 with upside long-term targets of $ 1.74. Downside targets show strong support between 0.20 $ 0.25 USD, but would probably require a large increase in volume to push prices to these levels.