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Latest news from Ripple
Blockchain is about 10 years old, according to Bitcoin statistics. It may be older now that Ripple Labs was formed in 2004, but Ripple started to work fully in 2012. Being one of the leading cross-border payment solutions that uses blockchain technology for efficiency, transparency and speed, we expect the conflict between them and SWIFT to heat up.
It was said that Ripple could collaborate with the global payment system, but the company's spokesperson poured cold water saying that SWIFT was planning to upgrade its global payment innovation by allowing users to take full payment information, end tracking capabilities -to-end, better speed and greater efficiency. All member banks had to upgrade. But recent statistics indicate that the level of adoption is low because the member banks avoid paying more to access this new GPI.
As a vast messaging and communication network that connects more than 11,000 banks, securities organizations and virtually all of the vital market infrastructures that move $ 100 billion a day, estimates predict the adoption of members at around 200. This is very low and weakness, Brad Garlinghouse in a recent interview with Bloomberg said they are channeling all their efforts to replace SWIFT as the next dominant payment system in the world.
Of course, this is ambitious and it would be better if the member banks adopted xRapid and XRP. Making use of this on-demand liquidity instrument, attention would be drawn to XRP propulsion prices at new levels.
XRP price analysis
Weekly chart XRP / USD
Too much, the loss of nine percent in the last week should be a cause for concern. As far as we know, prices have been stuck in interval mode for most of the October weeks, after those super-earnings at the end of September.
Regardless of short-term bears, we will maintain a bullish prospect of prices that buyers will buy dips in shorter periods of time as long as price action is kept above 40 cents – the previous resistance now supports .
In general, we expect buyers to prevail, but before projecting lunar slings, the bulls must first drive prices above 55 cents – 60 cents to buy the trigger line marked by the Fibonacci retracement level of 38.2 percent online with our previous XRP / USD business plan. Subsequently, the first targets would be 80 cents and subsequently $ 1.
Daily XRP / USD chart
Here, losses are moderate to five percent in the last day, but buyers are still technically responsible.
This preview is purely an effort from the point of view of the results and despite the rejection of higher peaks, the failure of the price action to print a model of rejection of the double bear after November 4 is a # 39; indication of the underlying momentum.
It should be noted that prices are still fluctuating within November 4 on high low and with 50 cents supports we expect prices to find support. However, if there is a crash and the XRP / USD prices close convincingly below 50 cents, we suggest taking a neutral position.
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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