XRP prices delays as technical and fundamental Diverge

Brad Garlinghouse remains an ambassador of Ripple and dedicated XRP. Recently, he admitted that citizens are far from using XRP for buying coffee or paying regular bills. That's why he considers XRP a "digital asset" that the company, as recognized by Mitsubishi UFJ Financial Group, is using to build a cost-effective, secure and economical remediation solution for companies and individuals.

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Mitsubishi UFJ Financial Group, a Tokyo-based bank and the sixth largest bank in the world with operations in over 50 countries, is the last financial institution that has praised Ripple (and XRP ). The bank that enjoys high liquidity every day while moving funds is part of the Global Payments Steering Group (GPSG) of Ripple along with other global banks such as Merrill Lynch and Standard Chartered after partnering with Ripple alliance. ; beginning of last year.

Admitting the advantages of Ripple, the company joins a multitude of companies that do not they have hidden their admiration for Ripple and their mode of operation. Although they claim that XRP and Ripple are two separate independent entities, Ripple uses XRP and one of their products xRapid uses RTXP native currency as a liquidity tool that facilitates an almost instantaneous conversion of fiat and value transport from an alliance other. [19659005] Undoubtedly, Ripple and XRP complement each other and while companies may choose to forego xRapid for example and instead use xCurrent or xVia, Jim Chauncey-Kelly, Ripple's Talents Acquisition Director stated that the company plans to join these three independent products in a single solution called Convergence. Since then he has retracted his statement and denied his existence.

XRP Technical Analysis

Weekly Chart

  XRP Technical Analysis

XRP Weekly Chart for Trading View

If at all current prices XRP represents the current market evaluation of Ripple's innovative products then c & # 39 is a gross underestimation of the third most valuable digital asset in the world. Better still are the metrics behind XRP and in the last week, for example, XRP is fighting short sellers and falling four percent.

This means that the currency is actually underperforming against most of its peers in the top 10 and after three weeks of higher XRP prices are still reversing the week ending Aug12 high-low and 40 cents. Only because of this seemingly unfavorable stalemate of bulls and tapering volumes, it is unlikely that XRP will exceed our immediate resistance line at 40 cents.

At least not in the short term unless, of course, there is an extraordinary event. However, if this projection of the bear were to be null, then the bulls would only enter for a long time when there is a conclusive violation and they will close above 55 cents on the upside.

Daily Chart

  XRP Technical Analysis

XRP Daily Chart by Trading View

18 days later, XRP consolidation continues. This time, not only are prices moving inside a bull's flag, but also inside the low 17 August. Unless otherwise, we maintain a neutral position with a bullish upside due to that swallowing bullish candle of 17 August.

Therefore, before exchanging, we suggest waiting for a break in both directions, with a move above the lows of the 17 August long term that points to 55 cents. The downside, a high volume drop below 30 cents and prices could collapse towards 15 cents, our original and ultimate bear goal expected in our latest XRP business plans.

Disclaimer : This is not an investment advice and the views represent that of the author. Do your research before making an investment decision.

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