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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Ripple (XRP) BB Squeeze Hints of Undervaluation and Demand

Dalmas Ngetich
Dalmas Ngetich
6 years ago
2 mins read
technical analysis altcoins

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  • Ripple prices up 1.4 percent in last day
  • Remittance faster and cheaper in Ripple platform
  • Participation levels low as prices flat-line

The decentralization argument will continue as long as there are ardent supporters. Ripple Inc executives maintain their ledger is decentralized, but critics are not buying it. Regardless, Ripple (XRP) buyers are in control and likely to close higher by close of this week.

Ripple Price Analysis

Fundamentals

Like Bitcoin, Ripple is a third-party free remittance service. In a recent tweet, Pomp said Bitcoin as the first global payment option was faster and cheaper than competitors. Well, to some degree, that is true. Bitcoin may have a slower throughput than centralized alternatives but compensating that design choice is security, autonomy and most importantly, cost. MasterCard and Visa as competitors are way too expensive despite processing more transactions.

While Pomp has is opinions, tests reveal that Ripple as an alternative for banks and individuals is comparatively cheaper and faster. Besides the speed, their ledger, according to David Schwartz, is highly decentralized and through a proof of correctness system, most validators are under the control of third parties. Even so, Ripple Inc—an independent company owns a majority of XRP.

All the same, the decentralization argument will continue as long as Ripple Inc has control over the majority of XRP and Bitcoin hash rate be under the control of few mining pools. The main differentiator is the way Ripple Inc is forging on. By utilizing Codius and InterLedger Protocol, Forte will receive $100 million from Ripple as they seek to make inroads into the multi-billion-dollar gaming industry.

Candlestick Arrangement

Ripple

Although Ripple (XRP) gains are miniscule, there are improvements. Already, the path of least resistance is evident. Because bulls have the upper hand, we expect demand to drive prices above 34 cents.

As mentioned in our last XRP/USD trade plans, it is after prices close above this buy trigger line or the 61.8 percent Fibonacci retracement level is when incoming Ripple (XRP) demand is likely to drive prices towards 40 cents as momentum build up.

So far, inactivity means prices are trading within a tight 4 cents trade range with firm supports at 30 cents. Also, with yesterday’s pin bar and failure of bears to drive prices lower, a breakout trade is highly likely.

Technical Indicators

Ripple (XRP) prices are calm. From an effort versus results analysis, price bursts above 34 cents is on the cards. Accompanying this gain should be high transaction volumes that must exceed 20 million and 61 million of Feb 24.

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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