- Strong supports for the price of the ripple from about 30 cents
- Valor Foundation's plans are to make the Ripple Ledger difficult
- The demand for XRP grows in lower periods of time, volumes increase
Although the Jan 20 salesmen canceled strides, XRP found support for around 30 cents. With bullish fundamentals all around, it is likely that the bulls will gather and exceed 40 cents in the short term.
Ripple Price analysis
If the gossip of the XRP host is even remotely close to reality, the XRP carriers should be ready for a bloodbath. The hostile acquisitions are rare in traditional markets and a forced change of management is simple: the buyer – in our case Valor Foundation of Vishal Harpalani – identifies an unwanted target company, the "victim", in this case the official issuers of XRP by Ripple Labs.
Their tactics: raise "tens of millions of dollars", trigger a price slump through the debt instrument and subsequently force the Ripple register. Note that this move may fail and as a $ 14 billion Silicon Valley giant, weaned from VC funds and controlled by a determined company, Ripple, ready to defend its territory, we doubt that this could happen.
Exuding trust, Brad had this to say:
.@danprimack wants to sell snake oil … all the buyers out there !? The media have a responsibility to help the industry understand that it is the hype against the substance, not to propagate blatant attempts to manipulate the market. When will the media coverage of this sector mature? https://t.co/QzZ3MxoyNR
– Brad Garlinghouse (@bgarlinghouse) January 15, 2019
To defend their publication, the publisher of Axios said:
I'm not selling anything to anyone Brad, and you know it. I have zero financial interests in any crypt. reported on something and said clearly that it is unlikely to work. If it comes to market manipulation, then it was a bad attempt as xrp lost a huge penny today
– Dan Primack (@danprimack) January 15, 2019
However, if the Valor Foundation collects sufficient funds and causes a deadly XRP spiral, their success would help to strengthen their overall goal of building a reliable digital payment system tailored to those who can not access banks or other financial services primarily in developing economies.
Like BTC, XRP is rejecting the selling pressure and, after the initial build-up, the demand increases in terms of shorter time. Upswings like this cement our previous position, validating our XRP / USD business plan. Although we predict a price rally, now that we have a bullish pin near our main 40 cents support, we recommend keeping a neutral position. This is until after there is a clear break above the 50% Fibonacci retracement level. The level is the score of 34 cents based on the minimum of December 2018. 34 Centimes is significant because the level is configured with the maximums of January 14th.
Once prices have gathered above 34 cents, the risk is that traders can start long pullbacks with the first 40 cents targets. From then on, risk averse traders can buy at spot rates with modest targets at the December 2018 high of 60 cents.
Driving our short-term business plan is a level of market participation. One highlight in recent days is the printing of 10 bear bars in a predominantly bullish market. We reiterated this by stating that for bulls to be in the driver's seat, trade volumes must exceed the recent averages of about 17 million and exceed the trade volumes of 10 January of 83 million. Without a doubt, these rallies will raise prices from spot levels to over 40 cents. In turn, this will lay the foundation for further gains towards $ 1.