Undulation price analysis: consolidation above $ 0.31; David Schwartz of Ripple insists that XRP is "inherently decentralized"

  • The fall in the price of undulations has a balance of over $ 0.310 but the rise is limited to the level of 23.6% of Fib.
  • "Put simply, the XRP is based on an inherently decentralized and democratic consensus mechanism," David Schwartz states in his report.

Ripple is traded slightly in the green following the declines that took place yesterday. There was a movement towards the top that was started from the support at $ 0.325. The bulls intensified their attack to higher levels by exceeding $ 0.35, although they lost momentum to $ 0.355. This allowed bear entry but short-term support at the Fib 61.8% retracement level with the last high leg of $ 0.351 and a low leg of $ 0.31 slowed the movement down for most of the trading session.

The sellers, not ready to call it a day, broke the average mobile support of 100 15 & # 39 ;. This move led to a larger subdivision under the support areas of $ 0.330 and $ 0.320. With the intention of cutting another support at $ 0.310, the XRP / USD reached a low around $ 0.311. The bulls have re-emerged and in a pullback, the Ripple price trade exceeds the resistance of the fiber level by 23.6% to $ 0.319.

At the time of the press, Ripple embarked on another bearish launch, while the rise is limited by 50 SMAs. The trendline will also prevent gains of $ 0.325 while the 100 SMA will offer a stiff resistance at $ 0.330. XRP / USD is supported at $ 0.315 and the next support at $ 0.310.

For some time now Ripple Labs. A Inc. was tasked with explaining why his ledger, XRP, is not a security token and is not centralized at all. David Schwartz, the company's Chief Technology Officer, has again made it clear that XRP is an "inherently decentralized" cryptocurrency. In his report entitled "The Inherently Decentralized Nature of XRP Ledger", David notes that decentralization is "very blurred, misunderstood and, frankly, evolving." The Ripple XRP consensus protocol is different from that of Bitcoin and Ethereum, instead of using work algorithm to verify transactions and issue rewards, XRP verifies transactions using validator records spread all over the world but does not get rewards or incentives .

"Put simply, the XRP is based on an intrinsically decentralized and democratic consensus mechanism – that no party can control."

XRP / USD chart 15 & # 39;

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