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Latest news from Ripple
On December 17th, CoinBase announced that it will offer a conversion tool from a currency to another called Convert for its customers. The function supports Bitcoin, Litecoin and three other listed currencies but, in any case, the US exchange will charge a conversion fee of 1% for use. But it is expected.
Starting today, you can convert one encryption to another on Coinbase. Conversions are available between Bitcoin (BTC) and Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX) or Bitcoin Cash (BCH).
It is day 8 of 12 days of Coinbase. Further information: https://t.co/VshJf7FOMZ pic.twitter.com/wLyJPfkKcA– Coinbase (@coinbase) December 17, 2018
To read: Bloomberg Crypto Report states that Tether Stableboin earns $ 6.6 million in interest in the first half of 2018
The exchange is supported by venture capitalists and is a flat-rate profit of over $ 1 billion in turnover by December 2017 and is worth over $ 8 billion after the latest series financing led by Tiger Global Management with the participation of Andreessen Horowitz and others. The $ 300 million they got were for expansion and we're starting to see what they meant.
Read also: Security tokens expected to grow larger than US equities over the next 10 years
The demand is high and the listing of XRP, despite the regulatory challenges surrounding the currency, is the best way to get extra income deep into this bearish energy market. We are not sure yet, but we can assume that the conversion tool could be part of the broader plan to create this track where investors could channel their money to the exchange via BTC or LTC and then convert them into XRP for trading or custody. in the bag. This presupposes their support for short-term XRP.
This will eliminate the burden of applying the SEC in the event that XRP continues to exist in regulatory limbo.
XRP price analysis
Daily XRP / USD chart
At spot prices, XRP is still the second most valuable currency in space and up 23 percent in the last week compared to the USD. We expect this expansion to continue until next week and also to the first quarter of 2019, as the market is expecting a positive development with regard to BTC and ETH.
Combined with market expectations, these two could increase XRP prices by helping investors to enjoy prices above 60 cents and even 80 cents after a bear market which saw prices accumulate over 85 percent. With the candlestick agreement and due to the 17 December price expansion, we suggest buying XRP on every decline in shorter periods of time with the first targets set in our latest XRP / USD business plan.
We are also aware that a reversal of these gains that push prices below 29 cents or the lows of December 17 would cancel this optimistic projection.
XRP / USD 4HR chart
In this time frame, it is clear that our trading conditions have been met and the XRP is trading above 33 cents, our first purchase and a lower resistance. The cementing of our confidence is the peak in market participation after volumes have increased from € 4 million to € 20 million by € 5 million, while XRP has expanded by around 29 cents after the closing of the 1900 HR bull bar. from December 17th.
These are anomalous volumes and yesterday's consolidation is a normal reaction after days of rapid price action as we saw on December 17th. Although the prices were consolidated yesterday, we suggest traders to increase their long-term XRP at spot prices with safe stops at 33 cents.
The objectives will remain as indicated above by our commercial XRP / USD plan which will be as follows:
- Buy: Spot price
- Stop: 33 cents
- First goal: 40 cents, 60 cents, 80 cents
All graphics courtesy of Trading View
Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
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