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Heavy Downside Pressure For Ripple’s XRP Price

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Heavy downside pressure is forming for Ripple’s XRP with a bearish short-term and medium-term trading outlook. The four-hour time frame shows there is a bullish inverted head and shoulders that has been invalidated as we are reading more in the latest ripple news.

The daily time frame shows a bearish breakout forming from the triangle pattern. Ripple remains under heavy downside pressure and still hasn’t established a technical price floor. The XRP/USD pair has lost more than 30 percent since the start of November and is now trading around five percent below the opening price of the month. The technical analysis shows that the pair is creating a bearish triangle breakout on the daily time frame which moves the cryptocurrency within the touching distance of the $0.20 level.

The four-hour time frame shows that the bullish inverted head and shoulders pattern was invalidated a few days ago which is bearish development for the pair over the short-term. The price is also making lower lows which once again hint that the XRP/USD pair has yet to find a strong price bottom. The $0.1900 level is now offering the strongest form of long-term support under the psychological $0.2000 level.

The bulls have to rally the price of XRP towards the $0.25 level just to encourage purchasing and then stabilize the XRP/USD pair above the $0.285 level which is the most important technical area. By looking at the potential pattern formation, if the buyers are able to rally the price after one lower push, the large inverted head and shoulders pattern could also form on the daily and four-hour time frames. The Relative Strenght index for the daily time frame shows that Ripple is quite oversold while the MACD indicator shows pockets of bullish MACD divergence.

According to the latest sentiment data, the short-term sentiment towards ripple is neutral at 52 percent while the overall long-term sentiment for the cryptocurrency is quite bearish at a 24 percent range. The four-hour time frame shows that the key technical resistance is now located at $0.235 and $0.25 levels so the technical resistance over the medium-term is now located at $0.285 and $0.31 levels. The four-hour time frame shows that the XRP/USD pair has a strong medium-term technical support around the $0.21 level.

The critical long-term technical support for XRP is located at the $0.19 level. Ripple has yet to establish a strong price floor placing the emphasis on more XRP/USD weakness towards $0.19.

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Ripple News

MoneyGram Will Become The Leader Of The Remittance Market In India

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Moneygram will
MoneyGram will try to become the leader of the remittances market in India since it is backed by Ripple so let’s find out more in today’s Ripple news.After forming the strategic partnership with EbixCash, Moneygram will aim to become the biggest market share in India according to the Hindu Business Line. Cross-border payment systems will help the Indian economy connect to worldwide services and take the larger part of that market. So far, MoneyGram met a lot of problems spreading to the Indian market and according to Alex Holmes the CEO of MoneyGram, the partnership will solve the problems of money transfers. EbixCash is one of the better fintech networks encompassing multiply preloaded and general payment services. The platform is one of the latest partners and will connect India’s payment ecosystem with Ripple, Inc.The San-Francisco based company invested about $50 million in MoneyGram in the summer of 2019 and continued to expand and to link the space of cryptocurrencies with regular payment systems. The platform Is now in experimental stages of using the RippleNet’s ecosystem and has announced a lot of plans to utilize the on-demand liquidity system. If this happens, the platform will become the perfect position to deliver the Ripple protocol and show the many benefits in real-world usage.MoneyGram will capitalize on the increased usage of electronic wallets as well and fintech payment solutions. India has also become one of the larger markets that started adopting digital asset solutions but they are competing with the local usage of cash as well as local payment systems. India rejected using the Libra stablecoin but they don’t consider it as a threat since it is not issued yet. Ripple’s solution may be the first distributed solution that will arrive on the market. Despite the low XRP prices, ripple continues to position itself as the best fintech solution provider which can also launch its own IPO in the near future.MoneyGram remains the flagship business and has a huge share of the international remittances capitalizing on the well-known brand. The price of XRP stabilized around $0.22 on the small trading volumes of $1.6 billion. The altcoin waited for the verdict on the status to form security or another type of asset and this kept investors' interest low despite the previous expectations that XRP usage will increase.
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Ripple Insights Reports Show Increase In On-Demand Liquidity

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According to a ripple insights report, we can see an increase in on-demand liquidity services and the company experiencing mixed growth in 2019 so let’s find out more in today’s xrp news.The ripple insights report shows that Ripple’s on-demand liquidity services that facilitate the cross-border settlements saw huge growth. These services handled 550 percent more value in the last quarter of 2019 than they did in the third quarter. In raw transactions calculated, these services saw an increase of 290 percent. This growth happened mainly because of greater adoption and in less than a year, more than 24 financial companies signed on for the ODL including Interbank Peru, FlashFX and Viamericas.Ripple’s most notable client is likely MoneyGram which started using Ripple’s services last August. This partnership was mostly successful in Mexico which is a market where MoneyGram is moving 10 percent of its volume through ODL.  Despite the increasing demand for these services, Ripple sold only a small chunk of XRP in Q4. Though this was mainly because of the change in measurements, Ripple also cut back its sales on purpose in order to act as a disciplined and responsible stakeholder. The company paused the programmatic sales in Q4 which caused sales in that category to fall to zero and in other separate category Ripple executed over-the-counter sales with a few strategic partners but reduced the sales as well.The end result was that Ripple sold about $13 million XRP tokens in Q4 which represents a five-fold decrease from Q4 when it sold $66 million worth of XRP. XRP’s daily trading volume dropped to $187 million in Q4 and the daily volume of the token in the third quarter was $198 million compared to the daily volume in Q2 which was $430 million. These trends suggest that XRP is no longer the most wanted asset. However, Ripple seems to be releasing its XRP token into circulation slowly. It is still not clear whether this strategy will affect the prices in a good manner since, in the short term, XRP lost about 23 percent of the market value during the last quarter of 2019. Bitcoin only lost about 14 percent of its market value in the same period.
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Ripple CEO Garlinghouse Hints At IPO, Predicts More Public Offerings

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The Ripple CEO Garlinghouse Brad recently predicted that the initial public offerings (IPOs) will become more prevalent in the crypto and blockchain space in 2020. As he reportedly hinted at the World Economic Forum in Davos yesterday (January 23), Ripple would itself be one of those firms and seek a public flotation.
“In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company,” the Ripple CEO Garlinghouse noted.
https://twitter.com/ashgoblue/status/1220413896068038656?s=21For those of you who haven't been following our crypto news, an IPO basically refers to the process of offering the shares of a private company to the public in a new stock issuance. Because of this, IPOs are often referred to as "going public" or as "floating" corporate shares to the wider market.The Ripple news also show that Garlinghouse is a fan of IPOs. As the crypto industry shifts its focus from initial coin offerings (ICOs) to initial public offerings (IPOs), there are many new and cumbersome legal and regulatory processes.However, as this space matures and in the wake of the post-boom ICO rout (which saw a lot of offerings exposed as either fraudulent or simply unsuccessful), firms are now seeking to build confidence with mainstream investors by way of public listings on stock exchanges.This is a trend which the Ripple CEO Garlinghouse appears to consider and thinks that it would consolidate itself in the near future. This comes even as some of the industry's largest players struggled to meet the stringent requirements of an IPO.Meanwhile, many major crypto firms such as Blockstack have chosen to pursue complaint token sales with the approval of the United States Securities and Exchange Commission (SEC). Silvergate Bank is one of the banks which went public in November 2019 and released its IPO on the New York Stock Exchange.The Bitcoin and altcoin news this afternoon show that BTC gained more than 1.40% on the day and the 24 hour volume looks impressive at $96 billion now.
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Garlinghouse Intends To Take The Company Public

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Garilnghouse Intends
The CEO of Ripple Brad Garlinghouse intends to take the company public, as he commented during Davos 2020 but the effects on XRP’s price could be catastrophic so let’s find out more in the ripple news today.According to the reports in Ripple-centric media, Brad Garlinghouse intends to take the company public and confirmed that an IPO is on the cards for the fintech platform. There was nothing on his feed but SVP of Product Asheesh Birla tweeted:
 “We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.”
Floating on the stock market could provide the investors another way to get into the company without the volatility and regulatory restrictions of crypto but what does this mean for the future of XRP as a tradeable asset and an investment asset as well? Ripple supporters were extremely positive about this development and think that it would be bullish for the company and their tokens. However, the wider crypto community was commenting about this decision aside from the loyal XRP army which most have a similar opinion. The crypto trader Anondran stated:
 “WTF. $XRP is planning to do an IPO??? As if printing worthless coins, pumping it and making billions of dollars wasn’t enough? Send this shitcoin to absolute depth of hell.”
The San Francisco based company had its token being often considered as unregistered security and was a subject to future crackdowns from the US regulators. However, the company is still locked in the courts since they are establishing the status of XRP but had no verdict brought yet. As per the reports, XRP prices could skyrocket as well if it considered a commodity. With the IPO debate heating debate, the institutional investors are likely to take the option across their brokers rather than take on the tokens directly. It would net the company and most of its executives but not necessarily XRP holders. XRP had a really bad year in 2019 and dropped by 47 percent over the year ending up at a two year low below $0.2.
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