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Ripple News

Rіррlе Prісе Tесhnісаl Analysis – XRP/USD Bеаrіѕh U-Turn

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1 7 - Rіррlе Prісе Tесhnісаl Analysis – XRP/USD Bеаrіѕh U-Turn

Key Hіghlіghtѕ

  • Rіррlе price extended declines and mоvеd bеlоw thе $1.80 ѕuрроrt аgаіnѕt the US Dоllаr.
  • Yеѕtеrdау’ѕ hіghlіghtеd сruсіаl bearish trеnd lіnе wіth сurrеnt rеѕіѕtаnсе аt $1.85 іѕ ѕtіll in рlасе оn the hоurlу chart оf thе XRP/USD pair (data ѕоurсе from Krаkеn).
  • Thе price continues to move dоwn аnd it соuld soon break thе 1.60 low tо fоr more lоѕѕеѕ.

Rіррlе рrісе fасеd a lot of selling pressure аgаіnѕt the US Dollar аnd Bіtсоіn. XRP/USD соuld ассеlеrаtе dесlіnеѕ аnd іt mау ѕооn tеѕt оr brеаk thе $1.50 lеvеl.

 

Rіррlе Prісе Dесlіnе

It ѕееmѕ lіkе thе сurrеnt bеаrіѕh pressure is hеrе tо ѕtау оn Ripple price bеlоw $2.00 against thе US Dоllаr. The рrісе wаѕ undеr a lоt оf pressure and іt mоvеd bеlоw thе $1.80 аnd $1.70 ѕuрроrt lеvеlѕ. The downside move іѕ ѕtrоng аnd thе price іѕ nоw bеlоw thе $1.65 lеvеl. Rесеntlу, there wаѕ a rесоvеrу from the $1.6062 swing low with a brеаk оf thе 23.6% Fіb rеtrасеmеnt lеvеl оf thе lаѕt dесlіnе from thе $2.38 high to $1.60 lоw.

Hоwеvеr, the uрѕіdе mоvе wаѕ capped bу the $2.00 hаndlе. Moreover, the 50% Fіb retracement lеvеl оf the lаѕt decline frоm thе $2.38 hіgh tо $1.60 lоw аlѕо асtеd аѕ a rеѕіѕtаnсе. Mоrе іmроrtаntlу, уеѕtеrdау’ѕ hіghlіghtеd сruсіаl bearish trend lіnе with current rеѕіѕtаnсе at $1.85 іѕ ѕtіll іn place оn thе hourly сhаrt оf the XRP/USD pair. It mау соntіnuе to асt as a ѕtrоng bаrrіеr fоr buуеrѕ аbоvе $2.00. As lоng аѕ the рrісе is bеlоw thе $2.00 handle, іt rеmаіnѕ аt a rіѕk оf mоrе losses bеlоw $1.60.

Ripple Price6 300x153 - Rіррlе Prісе Tесhnісаl Analysis – XRP/USD Bеаrіѕh U-TurnA break bеlоw the $1.60 lеvеl could ореn the dооrѕ fоr a test of the $1.50 lеvеl. Below thе $1.50 level, there іѕ a сhаnсе an extension tоwаrdѕ thе $1.40 lеvеl.

 

Looking аt thе technical іndісаtоrѕ:

Hourly MACD – Thе MACD fоr XRP/USD іѕ nоw рlасеd іn thе bеаrіѕh zоnе.

Hourly RSI (Rеlаtіvе Strength Indеx) – The RSI fоr XRP/USD is hеаdіng lower tоwаrdѕ the 25 lеvеl.

Mаjоr Suрроrt Lеvеl – $1.50

Mаjоr Rеѕіѕtаnсе Level – $2.00

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Ripple News

XRP Got Down 16% After Swell Conference: Analysis

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xrp got down
XRP got down by 16 percent right after the Swell conference as we are seeing in the XRP news today. What will we see, the continued price fall of XRP or the Ripple’s token can have price recovery?Ripple’s token did not succeed to grow during the impenitently expected Swell conference this year but instead fall by 16% shortly after the conference. Spreading the loss to around 30% the market price of the Ripple’s token is among the few that marked double-digit drop since the start of this year. Use cases and utility were promised by Ripple but this did not gather trading interest.XRP got down and also struggled to hold its price above the $0.30 mark. The conference also did not make any new interest in XRP. The asset’s use case is uncertain at this moment because Ripple Net became the Unified Ripple product where the coin use is not mandatory.Ripple’s coin is traded on small volumes of about $1.7 billion daily, at $0.27. Some of its support was lost as Korean traders deserted highly active speculation, and the asset was left to look for new markets. In the past year, XRP also had periods of relatively no price growth.  In the past XRP had grown miraculously from sub-penny prices, causing a huge commotion. The XRP community is strong like it was never before and bizarre forecasts are made on social media.One of the biggest problems of the XRP’s future price prospects is the potential of having big dumps on the markets. Another reason for the failure of XRP was that all the attention was put on Stellar (XLM), which had fast growth to $0.083. There was also the burning of 55 million tokens by the Stellar Development Foundation with the foal of decreasing inflation of XLM production, and setting a fixed supply for the coin.Bullish recovery is in the realm of possibility, whilst XRP is in a relatively short-term price drop. A $0.30 price range is possible for XRP has shown even after more instantaneous falls. The price levels for altcoins in this time are expressing shocking stability even without an outright “altcoin season”. Possible there are reasons to buy the token at a low price.
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Ripple News

Ripple Faces A Strong Resistance, Could Decline Below $0.2700

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ripple faces
Ripple faces a strong resistance towards the $0.2740 and $0.2760 against the US dollar and the price could continue to drop lower unless there is a stronger price break above $0.2760 as we are reading further in the XRP news.The significant bearish trend line for the altcoin is still close to the $0.2753 on the hourly charts of the XRP/USD pair. The price of XRP is trading below the key resistance levels against the US dollar and could extend the decline in the near term. This week, Ripple got stuck in the downtrend below the $0.2850 pivot level against the USD and the pair even broke many support levels near the $0.2780 and managed to settle below the 100 hourly simple moving average.The last price decline slowed down below the $0.2700 and the price traded to a new monthly low at $0.2668 which later ended up with an upside correction above the $0.2700 level. However, Ripple faces strong resistance near the $0.2760 and the 100 hourly SMA. A new high level formed near the $0.2763 so the price is now declining meaning that XRP is trading below the $0.2720 level and is testing the 50% Fib retracement level of the upward move from the recent $0.2668 high.Looking at the downside, the support is very closer to the $0.2700 level and besides the 61.8%  Fib retracement level of the upward move from the previous $0.2668 level is also nearing the $0.2700 area. If there is another downside break below the $0.2700 support so the price could go to the $0.2665 support level. If any further losses go further, XRP’s price could reach the $0.2600 area. The next key support area will be met at the $0.2540 level.Ripple faces a strong resistance near the $0.2740 level as well and this week’s significant bearish trend is stronger with a close resistance near the $0.2735 on the hourly charts for the XRP/USD pair. By looking at the charts, the price of XRP is trading in a bearish zone below the $0.2760 resistance area and for this reason, there is a huge risk of a bigger downside below the $0.2700 and $0.2600 unless the bulls get stronger and push the price back above the $0.2760.
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Ripple News

Ripple News Show That XRP Remains At Risk Of More Losses

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ripple news
The latest Ripple updates show that the price of XRP is trading in a bearish zone and is below the $0.2840 resistance against the US dollar. The Ripple news show that the price of the token is struggling to hold the key support area near the $0.2700 level and the bearish trend line ignited yesterday is active once again with resistance near $0.2800 on the hourly chart of the XRP/USD pair.In the past couple of hours, we saw an increase in selling on Ripple (XRP) below the $0.2840 resistance area against the US dollar. XRP/USD mostly followed a bearish path below $0.2800 and the 100 hourly simple moving average.Additionally, the price of XRP moved below the last low and traded to new weekly lows near $0.2682. Right now, the price is correcting higher above $0.2720 and the break above the 23.6% Fib retracement level made the cryptocurrency rise from $0.2852 to a new low of $0.2682.There are tons of resistances for Ripple (XRP) as we speak. The Ripple news show that anything near the $0.2765 levels is acting as resistance - stretching out to the $0.2780 levels. Besides this, the 50% Fib retracement level of the recent decline from $0.2852 high to a $0.2682 low is near the $0.2765 level.More importantly, the major bearish trend line is active with the resistance put near $0.2800 on the hourly chart of the XRP/USD pair, as we can see from the crypto news today. The 100 hourly SMA is also with a position near the trend line and this price point will act as a new bull barrier.Therefore, a clear break above this trend line (at $0.2800) and the 100 hourly SMA could start a decent increase. The altcoin news also show that the next key resistance is near the $0.2840 level above which there are major chances of more upsides towards the $0.3000 resistance area.The downside gap and the latest Ripple news show an initial support near the $0.2700 level. If we see another bearish break below the $0.2700 support, the price could even decline below the $0.2682 low. The next key support, as predicted, is near the $0.2650 and $0.2640 levels.Looking at the chart following the Ripple news, we can see that the price of XRP is clearly trading in a bearish zone below the $0.2800 and $0.2840 resistance levels. A convincing close is a must right now for the price to move into a bullish zone.
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Moneygram’s US-Mexico Business Is Crypto Enabled By 10%

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moneygram's US-mexico business
Moneygram’s US-Mexico business seems to be enabled by crypto by 10 percent. The act of transferring money from one place to another or better known as remittance is one of the heavyweights of a market but the blockchain technology aims to change how these operations are conducted. Let’s see further in the blockchain news today.The world Bank estimates that in 2016 the global remittance market reached $573 billion and a whopping $422 billion went to developing countries. Blockchain technology is already well-suited for securely transferring money around the world and the same technology powers Bitcoin and holds great implications for the world’s remittance business.Ripple is among the first crypto platforms that have been lurking at this industry for a while now through a fintech lens and its On-Demand Liquidity platform. XRP has been a part of how the mainstream remittance company Moneygram operates since August of this year. Speaking at the Ripple Swell conference, Moneygram’s CEO Alex Holmes announced to the public that Moneygram’s US-Mexico Business happens with the help of Ripple’s On-Demand Liquidity up to 10 percent.The blockchain-positive announcement on Ripple’s website calls for much more attention to the statistics. The existing prospects of crypto technology can account for about 10 percent of how major remittance companies do business between the two countries. Holmes explained further into detail on how the business is actually conducted:
 “The 10% relates to the ODL (On-Demand Liquidity) platform and represents the percent of our Mexican peso volume that we trade. We take USD and buy Mexican pesos. We continue to work with Ripple to build liquidity. We now have four new corridors we are starting, including the Philippine peso and Australian dollar. True success will be determined by others joining the platform, so it’s early days.”
Holmes did not want to reveal the size of Moneygram’s US-Mexico business but he seemed pretty happy to talk about the potential of the technology and how it will bring ease in the international transactions process to the new countries. Ripple’s technology, on the other hand, is also known to be among the best remittance services in the crypto industry with great partnerships around the globe.
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