Connect with us
CLOSE

Ripple News

Bull Protection For Ripple’s XRP As The Risk Of Bounce Increases

Published

on

Bull protection

Ripple is facing a lot of issues close to the $0.2200 resistance against the US dollar but it has strong bull protection at the $0.2080 level despite the decline in price. Following the latest XRP news, we take a closer look at the price analysis below.

The Ripple price is correcting the lows after it failed to go past the $0.2200 resistance level against the US dollar. The price remains well supported on the downside close to the $0.2080 level and there was even a break below the connecting bullish trend line with the support of $0.2125 on the hourly charts of the XRP/USD pair. The pair could drop even to the $0.2080 support before it reaches above the $0.2125 level on the hourly charts.

After it formed strong support near to the $0.2000 level, XRP started increasing steadily above $0.2100 against the US dollar and both Ethereum and Bitcoin climbed higher which helped the asset increase above the $0.2200 resistance area. However, the Bull protection did nothing to push the price above this level and a downside correction phase started after. During the downfall, a price level of $0.2198 was reached and XRP broke the $0.2160 support level. There was another break below the connecting bullish trend line at the support level of $0.2125 as per the hourly charts of the pair. Ripple’s price is now trading below the 23.6% Fib retracement level from the upward move of $0.2003.

The next key support level will be at $0.2080 and $0.2070 and a 100-hourly simple moving average. Therefore, XRP will likely find a strong buying interest if it goes towards the $0.2080 area in the long term. If there’s a downside break below this level, it could invalidate the bullish view and XRP could dive for the $0.2000 support. The first resistance for XRP is close to the $0.2125 area which the price will likely surpass above. The main resistance is close to the $0.2200 level and a successful daily closure will be set at the $0.2200 resistance area with a possible opened gate towards the $0.2320.

Looking at the charts, the XRP price is correcting lower but the bulls are active now at $0.2080 but closing below $0.2070 could decrease the chances of a future break above $0.2200.

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Ripple News

The Key Levels To Watch For A Ripple (XRP) Rally At This Phase

Published

on

By

the key levels
The price of Ripple (XRP) is showing positive signs above the $0.2340 and $0.2350 support levels now and the price is only facing hurdles near the $0.2400 levels. However, the Ripple news from last night show that the coin managed to add 4% to its price and passed a new momentum. Right now, the key levels to watch for a new XRP rally are the ones above the $0.2360 borderline and the rally should be initiated to $0.2450 or $0.2500, accordingly.Recently, we saw a major downside correction in the price of XRP from the $0.2450 resistance area against the US dollar. Then, the XRP price broke the $0.2350 and $0.2320 support levels and even spiked blow $0.2300.However, the bulls then were able to protect the $0.2220 support level and the 100 hourly simple moving average. The key levels to watch out for now at this phase are around $0.2450 and $0.2500.What's even more important to note is that there is a new contracting triangle forming with resistance near $0.2360 on the hourly chart of the XRP/USD pair. Therefore, the price of Ripple must surpass the $0.2350 and $0.2360 resistance levels in order to start a new fresh rally. If there is a successful close above $0.2360, the bulls are very likely to aim a test of the $0.2450 resistance.If the XRP price fails to climb above $0.2400, it could resume its slide. This is why this point is among the key levels to watch now. On the other hand, we can see that the main support for XRP is now near the $0.2220 level below which there is a serious risk of a sharp decline below $0.2200 in the near term.
Technical Indicators:
  • Hourly MACD – The MACD for XRP/USD has started gaining momentum in the bullish zone.
  • Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now on a rise and close to the 60 level.
  • Major Support Levels – $0.2450, $0.2470 and $0.2500.
  • Major Resistance Levels – $0.2300, $0.2270 and $0.2250.
While the key levels to watch for XRP are set very close to the current price, the altcoin news show that there are many altcoins with stronger momentum than XRP today. ETH and BCH are some of them, managing to rise by 6% and 8% accordingly. We can also see other winners in the top 10 such as EOS and BNB which managed to add 9% and 8% to their prices, accordingly.
`
Continue Reading

Ripple News

Wells Fargo Considers Partnering Will Ripple Pursuing Better Technology

Published

on

By

Wells Fargo Considers
Wells Fargo considers upgrading the old technology system provided by the banks since the customers said they are also not satisfied with the systems and call for an upgrade. Now could be the perfect time to adopt blockchain-based solutions or distributed ledger systems such as Ripple as we are reading more about in the following XRP news.Back in the 90s, Wells Fargo was the first bank in America to offer online banking but the lender is now falling short of the clients’ expectations in terms of innovations according to some former and current employees at the bank. The Wall Street Journal reported on the bank’s archaic systems and while the bank enhanced its tech offerings such as contactless debit cards and online mortgage applications and card-free ATMs, the bank is still having a hard time with tech operations. What is even more worrying is that the management doesn’t seem to care. The lender’s division monitoring initiatives such as Apply Pay had a lot of documents getting lost on a regular basis since the verification was done manually. The project manager in the unit from 2014 Mark McAlister, raised the concerns mainly because the regulatory compliance was at stake.This is not the first time that Wells Fargo faced tech problems. In 2018, the bank faced issues such as software vulnerabilities, cybersecurity concerns, risk-management problems, and many others. The online banking systems shut down for hours and there was another fake-account scandal in 2016 so the lender is facing a tech crisis for a long time now. The old systems made it very hard for the bank to meet the regulatory compliance and the company found difficulties with the basic tasks such as supervising the workers’ pay and to create a new platform for the financial advisers. The new CEO Charles Scharf said to his employees:
 “We need to be a technology company.”
Wells Fargo now considers adding Ripple and it is extremely welcomed by the users. Ripple is a blockchain network operated by a company that claims to sustain the decentralized aspect of the system. Major banks including Standard Chartered, Banco Santander and MUFG Bank, American Express and SBI have already chosen Ripple in order to use it as a payment system.
`
Continue Reading

Ripple News

Analysts Believe That The XRP Price Chart Is “Absolute Trash”

Published

on

By

analysts believe that
The cryptocurrency market has suffered a brutal beating in the last 48 hours. As the latest Bitcoin and altcoin news updates show, Bitcoin, Ethereum and XRP and a majority of other leading cryptocurrencies have all posted approximately 8% losses since Tuesday's peak. Everything is tumbling as buyers fail to maintain the relatively high prices and analysts believe that most of the price charts including the one of XRP are absolute trash.Even though all cryptocurrencies seem to be following Bitcoin right now, a couple of altcoins are posting effectively the same performance as BTC. Many analysts are even convinced that XRP's chart is the most harrowing out of all major coins.In fact, one prominent crypto trader who called the $3,000 Bitcoin bear market near the start of 2018 argued that the third-largest cryptocurrency “looks like absolute trash, probably the worst out of all the majors.” Even though he did not give a price predictions, others did.The cryptocurrency trader Capo of Crypto, and many other analysts believe that XRP's chart is showing clear signs that a bearish fractal is playing out. He is in the XRP news today for noting that the current price action for the cryptocurrency is looking almost identical to how it did from July to October of last year, marked by a consolidation after a dramatic sell-off, a secondary drop and flash recovery as well as a plunge to fresh lows.https://twitter.com/CryptoCapo_/status/1214820133627203584The same pattern playing out in full would mean that XRP will fall to $0.15 which is 25% lower than current prices - in the coming weeks.Another analyst has echoed this prediction. While most of the analysts believe XRP's charts are pure trash, he went with another angle and said that he is looking to "buy XRP next around $0.15" which is 25% lower than the current price of $0.2054. He noted that he is looking towards this target because his analysis suggests that “BTC and crypto remain in a bear market… despite the recent (and expected) relief rally, the bears still have control.”https://twitter.com/MagicPoopCannon/status/1215285509624385541Despite its recent rally to %8,400, Bitcoin managed to pull back yesterday and printed a flurry of bearish signals, with a rejection going $600 below this point and to a new price at $7,800.
`
Continue Reading

Ripple News

Siam Commercial Bank Partners With Ripple For Cross-Border Payments

Published

on

By

siam commercial bank
Ripple has a goal to expand its influence and share of Asia, the company partnered with the Siam Commercial Bank as we are reading further in the upcoming Ripple news.The Siam Commercial Bank will supposedly develop a new type of mobile app that will run on Ripple, for increasing the speed and decreasing the cost of cross-border payments. Recently it was announced by Ripple that it made a new partnership with Siam Commercial Bank (SCB) the oldest bank in Thailand. According to the announcement the Siam Commercial Bank will make a new application that will run on Ripple, named SCB Easy, which will be used for low-cost cross-border payments.We can see from the announcement that the app has will be launched initially on the Asian market because the eight out of the top ten nations that use mobile payments can be found there. Also, according to Arthit Sriumporn, the SVP of Commercial Banking of SCB, there are difficulties and delays experienced by customers when they send money, and the new product of the bank will provide excellent help in this direction:
 “It is so difficult to send and receive money today. People must physically go to a bank branch, fill out long and complicated forms, and wait for payments to be received – with no transparency. With our service, their loved ones from abroad can transfer payment and receive money immediately.”
Also, the report provides the information that in the presentation of SCB Easy, the payment was successfully completed within 40 seconds which is a direct consequence of the quick and low-cost system of Ripple. The new partnership between Ripple and Siam Commercial Bank will additionally provide cross-border EMVCo QR payments in the near future.In the second half of 2019, there was an announcement by Ripple that it has the goal of expanding and enlarging its share of the South American market. Ripple has already achieved few partnerships with some of the biggest and mightiest banks in Brazil to further the use of XRP for remittance payments. Also, the managing director of Ripple for South America noted that Ripple will continue to work with more establishments not only in Brazil but the wider South American region, in order to achieve bigger market share providing accessible payment solutions to customers.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





NEWS CATEGORIES

ADVERTISEMENT

cryptocurrency review
FO5F93F47156 - Bull Protection For Ripple’s XRP As The Risk Of Bounce Increases

ADVERTISEMENT

Medium Rectangle 300 200 2 Animated - Bull Protection For Ripple’s XRP As The Risk Of Bounce Increases

ADVERTISEMENT

oasistrade banner

Join us on Facebook

ADVERTISEMENT

300 250 - Bull Protection For Ripple’s XRP As The Risk Of Bounce Increases
FO710FC3F2305 1 - Bull Protection For Ripple’s XRP As The Risk Of Bounce Increases

ADVERTISEMENT

300 600 3 - Bull Protection For Ripple’s XRP As The Risk Of Bounce Increases

Trending Worldwide

Show Buttons
Hide Buttons