- Rippling of the stable price above 30 cents
- Ryan Zagone concludes that the lack of regulatory clarity prevents institutional adoption
- Average volumes decreased from 30 million to 24 million in three days
Technically, XRP is bullish above 30 cents and 25 cents. Therefore, until prices accumulate above 30 cents, in the coming days we expect a breakout price increase of more than 35 cents to 40 cents.
Price analysis of undulations
Giant steps are taking place, and one of these is the decision of the Euro Exim bank to integrate xRapid. Although it is good news as it is the first bank to see the benefits of XRP and xRapid, we should not be in the lead on ourselves.
Euro Exim even if a bank with "" Class A "international banking license by the Financial Services Regulatory Authority (FSRA) of St. Lucia" and practice "due diligence, full compliance and operational excellence"Throughout their process is a small financial institution with equity of £ 511K, debt of £ 180.2K and a liquidity ratio of 1.38. As a small business, it employs 5-9 people and is about seven years old, found on 7 February 2011.
However, markets are scarce and, with volumes declining, the XRP / USD price action is largely consolidated in trade constraints. As a result, our latest XRP / USD business plan is valid, and yet we maintain our position that, provided prices have a trend of more than 30 cents, bulls have a chance.
Note that despite the heavy losses on January 10th, sellers have yet to press lower and with each passing day of low volatility and consolidation, there are high odds that prices will explode. Because of our position, we expect bulls to go further, printing above 34 cents and after the full 40 cents of abnormal volumes.
Only then, when XRP prices are above the 61.8 percent Fibonacci retracement level, buyers will be able to fine-tune items in shorter time periods with modest targets at 60 cents. Meanwhile, there is an opportunity for aggressive traders to profit. Once prices reach the highs of January 14 or the Fibonacci 50% level of December 2018 is low at 35 cents, traders should aim for 40-42 cents with arrests capped at 31 cents.
The volumes are low. In order for our trading conditions to be valid, there should be a strong increase in market participation levels above the current averages of 24 million.
The perfect volumes that increase prices from spot rates to over 35 cents should exceed 83 million in January 14 or at least twice the current volume – 24 million.