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Latest news from Ripple
Ripple's goal is to create this new value network that rivals the costly cross-border settlement network, SWIFT in use by over 11,000 banks. So far, Ripple has been to some extent victorious and as they rise up, engaging engineering and implementing major partnerships not only with banks but with governments around the world, there is less of a problem with 39; use of XRP.
To read: Does regulatory uncertainty prevent banks from using xRapid?
Recently, Ripple has updated xCurrent to version 4, offering available banks the ability to incorporate xRapid into their systems. Unfortunately, the banks are reluctant and, as explained by our team, this is partly due to the regulatory baggage that will be used alongside it. Therefore, independent payment providers benefit from the incorporation of xRapid and the use of XRP for cross-border funds transfer.
After the SWELL conference in early October, it was announced that only institutions will leverage xRapid-Mercury FX, Cuallix and Catalyst Corporate Credit Union. Furthermore, there have been indications that SCB and SBI Holdings will follow to loosen the flow of funds in the ASEAN region.
this is the great boss of SCB, on swell, seems to play live with Xrapid, still in sandbox with Xcurrenthttps: //t.co/OPHsgaqpdv
– david wayne atkins xrpthebridge🌏 (@ atkinsdvd14) 10 December 2018
But the track is getting colder and with doubts about whether XRP is a security or a utility, banks do not want to expose themselves unless there is regulatory clarity.
Read also: eToro expands its cryptographic portfolio services as investors who are proprietors of responses to XRP requests from the platform
For this reason, we expect payment processors, funds and international exchanges to increase their use of XRP and even make it based on cost savings and improved efficiency of their systems.
Ripple (XRP / USD) Price analysis
At spot prices, XRP rose 12.9% against the US dollar at the time of printing. As a result, it is firmly in second place and further expansion may soon see the challenge of BTC as the most dominant currency in space. And there are valid reasons for this. Not only has it been resilient XRP, absorbing the sales shocks of the last two quarters but it was the only currency in the second half of the year with a bullish prospect thanks to the end of the 2018 revival.
Trend and candlestick formation: bullish, breakout pattern
As mentioned, buyers are in charge – they have had control since last September, as expected in the previous XRP / USD commercial plans – thanks to the filming of December 17. For this reason, XRP prices are now synchronized with our broader perspective . With the shift in the third quarter trend, we expect buyer momentum to increase lift prices to the September highs and even $ 1.65 as expected by the Fibonacci extension tool based on September's historical low. .
Volumes: increasing
Apart from December 8, 1500 bull of human resources – with a high trading volume of 23 million versus 9 million, the level of market participation on December 17, 1900 bull bull of HR – 20 million versus 5 million average is a brand of bulls. This confirms our uptrend and as XRP prices have exceeded the highs of December 8, buyers should look for opportunities to load in shorter periods of time.
Conclusion
In line with the developments above, our XRP / USD business plan will be as follows:
Buy:
Stop: 33 cents
Objectives: 40 cents, 60 cents and 80 cents
All graphics courtesy of Trading View.
This is not an investment or a trading tip. Do your research.
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