- The price of the ripple is surprisingly going inside an area of 6 cents.
- The bulls still have to overcome the very important level of resistance at 40 cents
- The finance of Kuwait House adopts Ripple technologies
- Bitrue uses four other trading pairs with XRP as a base
Although the participants are enthusiastic about Ripple (XRP), prices are stable and confined within a commercial range of 6 cents. Unless there are net earnings above 40 cents, we recommend that you take a neutral position.
Price analysis of undulations
Interestingly, the XRP, a coin we've all seen breaking out of 25 cents late, is about to become "stable". The XRP has increased by three percent in the last 24 hours and virtually unchanged in the previous week against the greenback. At this rate, it is clear that prices are accumulating and are setting the stage for the next hikes that would probably lead to a new test of the highs of September 2018. Meanwhile, fundamental developments are far and intermediate, which means that Candlestick technical formations are those that operators use to fine-tune voices in lower time intervals.
It seems that Binance arrived late at the XRP base party. Days after listing XRP as one of the base pairs in their ALTS category, Bitrue traders have the ability to swap four pairs of XRP bases in HOT / XRP, NT / XRP, NPXS / XRP and PRO / XRP. It's no surprise because the exchange did XRP based on the launch date and this was just a formality that increases the options for coin dealers.
🎉 # 2 week of 2019 @BitrueOfficial 🎉
👉https: //t.co/i7RmZi2Lxh pic.twitter.com/WoOFc0Wh8L
– Bitrue (@BitrueOfficial) January 7, 2019
Further wave of contrasts flew from the Middle East when the Kuwait House of Finance He said would leverage Ripple technologies to process their cross-border transfer of funds. Their announcement was ambiguous because we still have to know if this "cross-border fees, zero, instant international transfer remittance service"It will be based on xCurrent, xRapid or if it has been updated to xCurrent version 1.4 where they can easily embed xRapid:
"KHF has started to manage an instant cross-border remittance service using Ripple's blockchain technology.The zero rates, the" Instant International Transfer "service is now available in Saudi Riyal SAR, where customers can make remittance transactions to beneficiaries at Al Rajhi Bank. "
XRP prices do not only fluctuate within an area less than 6 cents, but prices fluctuate between 28th and 10th. Although we are permanent for the bulls and we do not see the hour to obtain strong gains above 40 cents, we are resigned to remain neutral in this phase of accumulation.
Technically, suggestions on candle-shaped candles are due to events in mid-December 2018 but, unless otherwise confirmed, we will do well to negotiate in line with the previous XRP / USD commercial plan. In this case, only net gains above 40 cents accompanied by volumes above the average will probably reduce prices to 80 cents. If not and XRP fall below 34 cents – 28 tenths low and even 30 cents, it is likely that XRP will fall below 25 cents by canceling the earnings of 2018 September.
The volumes are below the bulls of December 24: 124 million against the average of 54 million. As prices accumulate, release bar volumes should exceed current transaction averages.
All graphics courtesy of the Trading-Trading View view
Disclaimer: the opinions are those of the author. Do your research