While most of the crypto-currencies have lost most of the modest gains made during the summer, the main coins alt they felt the tension more than the average crypto-universe, especially during the month of September.
Bitcoin managed to maintain a certain stability around $ 6,500, but the major alts were unable to demonstrate any kind of downside resistance in the general market. However, it seems that Ripple can now show signs as an exception.
New XRP Uptrend?
According to a series of technical analyzes conducted on Ripple, the general downward trend from the beginning of the year may have been interrupted only with indications of a trend reversal. The first green candle in the chart below – from Trading View – shows that yesterday's price closed just above the resistance, with a second consecutive green candle indicating signs of bullish momentum rising above the head.
Ripple is currently trading at $ 0.33033, an increase of over 20.37% over 24 hours according to Coinmarketcap at the time of writing. The price subsequently reached $ 0.33700 at the beginning of yesterday's market trading, with the market capitalization of XRP rising to over $ 13 billion.
In addition to the same technical indicators, there may be an explanation of the real world to these observations, in particular The CNBC report was published Monday on the new Ripple-based payment platform, xRapid, which should exit at October and represents a new strategic angle for the broader adoption of XRP.
xRpaid: a cross-border payment system that uses XRP as an intermediate currency – has already carried out its pilot program in the first quarter of 2018, testing a payment channel between the United States and Mexico, with savings of between 40% and 70% on transaction costs.
Technology can therefore attract interest among banks and other companies engaged in high-volume cross-border transactions, particularly since it offers substantial improvements in Transac processing of delivery times – just over two minutes compared to the current delivery times of 2 -Three days.
However, although perhaps good news for XRP hodlers, XRP has a long way to go before recovering its all-time high of $ 3.84 from 4 January.