Ripple Price Analysis

Latest Ripple News

Progress is evident and in a bid to oust the incumbent, Ripple performance is heavily reliant on their marketing. And, if anything, they are doing a pretty nice job if streams from Brad Garlinghouse—the CEO of Ripple the company is anything to go by.

Read: Russian Parliament to Deliberate on Crypto Bill in Coming Weeks, Senior Official States

Though there is nothing to compare between Ripple’s solutions as xCurrent and xRapid and SWIFT—even with their latest GPI update, we have been rammed with irrefutable data that incorporation of payment processing solutions as xCurrent and leveraging xRapid for cross border fund transfer is speed, cost cutting and above all efficiency.

Still, avenues that may at one point in time–depending on demand and or convenience lead to an amalgamation or merge, has been met with resistance. Institutions are lax to upgrade–to xCurrent 1.4–and monoliths as Santander and One Pay FX are comfortable with xCurrent and have no intention of incorporating xRapid in their system.

Also Read: HSBC Set To Make Profits with Distributed Ledger Technology (DLT) FX Everywhere Platform

However, Cuallix—one of the first adopters of xCurrent and facilitators of cross border fund transfer between the US and Mexico has a different analysis, interpreting the usefulness of xRapid from a new angle. Cuallix CFO Nicolas Palacios reaffirmed our previous deductions concluding that xRapid as an alternative is faster, more efficient and above all transparent—thanks to the Ripple ledger.

Aside from that, he’s convinced that adoption of xRapid by his native country, Mexico may, after all, be the right thing to do if cost and efficiency are to be increased.

Ripple Price Analysis

Meanwhile, XRP performance has been fluctuating with prices registering modest gains in the last 24 hours. Even in the midst of this accumulation, our previous XRP/USD trade plan is valid despite recent drawdowns that has seen prices retract from highs of 38 cents.

Although we expect bulls to advance and sync with price action of Sep 2018, traders will have to cut their projections, maintain a neutral outlook until after there are convincing and high-volume gains above 40 cents. All in all, 40 cents remain pivotal and as long as bulls fail to breach this level, bears have an upper hand over the short-term.

Moving on, we expect bulls to build on Jan 14 gains and perhaps rally above 34 cents or Dec 28 cents towards 40 cents triggering long positions with absolute targets at 80 cents. Conversely, high volume drops driving prices below 30 cents and later 25 cents in line with Jan 10 losses could eventually lead to erosion towards 15 cents or lower.

All Charts Courtesy of Trading View–BitFinex

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.