The decline of Ripple to less than thirty cents can attract buyers

TransferGo launches a payment channel in India using XRP technology

This week, TransferGo has launched the channel that will allow real-time transactions. The channel will also be available throughout Europe. The system will allow users to avoid current payment methods that take about two or three days. It is not yet known which Ripple TransferGo product will use, but the transactions will be based on Ripple because the use of the token is widespread in the country. The door will be open for many opportunities. TransferGo launches another payment service that is slower but free. It is also based on XRP.

Ripple CEO Brad Garlinhouse said that this week makes no sense to replace fiat currency with cryptocostitution. This is a position that will attract the enmity of many in the area of ​​cryptocurrency because often coins are seen as a substitution of legal money and have the advantage of not being issued or controlled by governments. To replace the fiat currency digital currency it would be necessary to get the speed and usability of fiat money and become much more effective. Digital currency can work well in foreign transactions, but it is not yet useful for everyday payments, as is legal currency.

Technical analysis of Friday

On Friday, CCN provided a brief technical analysis of the price of XRP. Ripple's latest fall marked a downward trend, but the channel's support test resulted in a temporary rebound. There is a new wave down that is formed. If the support at $ 0.2780 is exceeded, the downward trend will continue and the price will move towards the lower projection channel towards $ 0.2140. Once the support of $ 0.2780 is interrupted, the new channel support and the low key will be $ 0.2365 as the next target. The local resistance towards the top is $ 0.3036.

Current situation

As mentioned earlier, XRP was opened today around $ 0.28 and reached $ 0.29. Now it's September 10 UTC, more than two hours on the new day. CoinDesk simply completes the price of XRP to the nearest cent. The XRP opened the day at $ 0.28 and this was also the maximum. To get a more precise reading, coinmarketcap is much better but not as updated as CoinDesk. At the moment there does not seem to be formation of the descending wave.

It may be that investors are deciding that this is a good time to buy XRP. An article on cryptorecorder claims that this is a good time to buy XRP when it is at prices that have not been seen since last October. If many buyers see this as an opportunity to buy XRP at a special price, the XRP could increase considerably. However, many may wish to wait until they are sure that the XRP price is at the bottom.

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