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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Ripple (XRP) Medium-Term Trend Is Set, 80 Cents Likely

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis altcoins

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  • Ripple prices solid above 34 cents
  • Will banks shift to xRapid because of the solution’s benefits?

Several analyses show that xRapid is cheap and fast. As such, it is likely that once there is regulatory certainty around XRP, more banks will shift towards xRapid supporting Ripple (XRP) prices.

Ripple Price Analysis

Fundamentals

Many proposals will see banker’s profit slashed. One of them is the proposal to shift away from the high-latency messaging network in SWIFT towards a time-saving, cost-saving and the transparent system powered by RippleNet. With xRapid–and through economies of scale, adopting firms can save up to 70 percent should they incorporate the solution.

In a report, Ripple Inc concludes saying:

“Respondent banks that use Ripple with XRP as a bridge currency can save up to 42 percent on costs today, and up to 60 percent as XRP gains usage and volatility decreases. To accelerate market thickness and reduce volatility for XRP, Ripple will soon introduce an XRP incentive program to rebate market makers who provide liquidity through XRP algorithmically.”

This observation sync well with similar analysis that prove that xRapid, a solution that leverage XRP as a medium of exchange and xCurrent rails for functionality is super-fast benefiting the end user. Yesterday, Mercury FX, a payment processing firm that makes use of xRapid, said a customer saved $30k using their rails.

“We just saved a client 30k on moving the cash from selling his house in Australia to the UK. That’s a huge saving compared to what he’d get from the banks – and goes a long way toward paying Stamp Duty on the house here! #yourewelcome”

The processor’s comment re-affirms similar findings by several observers:

Actually, the cost savings breakdown is much higher:

1) ILP alone 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 XRP: 33%
2) xRapid 𝐰𝐢𝐭𝐡 𝘩𝘪𝘨𝘩-𝘷𝘰𝘭𝘢𝘵𝘪𝘭𝘪𝘵𝘺 XRP: 42%
3) xRapid 𝐰𝐢𝐭𝐡 𝘭𝘰𝘸-𝘷𝘰𝘭𝘢𝘵𝘪𝘭𝘪𝘵𝘺 XRP: 60%

Source: https://t.co/v5tQ8s4JAt pic.twitter.com/fYAxfyE6Uy

— Hodor (@Hodor) May 18, 2018

And,

Focus Point here: @sendfriendinc @DavidLighton & team are solving to reduce cross border remittance costs for ppl sending money to #Phillippines (USD / PHP movement is 4th largest FX corridor), from 8-10% to 2.5% or less. this is a v hard problem (disclosure: am a board director) https://t.co/eTopi5Czps

— Sandra Ro (@srolondon) February 19, 2019

Candlestick Arrangement

Ripple

After three or even four months of accumulation, Ripple (XRP)–like most assets, is up reversing last year’s losses as the market thaws. However, a key observation in this resurgence is the strength of bulls and the confirmation of week ending Dec 23 gains now that we have a three-bar bull reversal pattern with a long trough.

Although volumes are on the rise, we shall only confirm bulls if this week’s bar is wide-ranging with high volumes above 390 million–of the conspicuous bull candlestick of late Dec 2018. If that is the case, then we shall have a classic bull breakout realigning with the trend-setting bull bar of the week ending Sep 23. In that case, it is likely that Ripple (XRP) could retest 80 cents.

Technical Indicators

Relative to last week, XRP transactional volumes are high and what we have instead is a double bar bull reversal pattern. Anchored by above average volumes, buyers are in control.  Therefore, every low is technically a buying opportunity.

Chart courtesy of Trading View

 

 

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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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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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