Ripple will drop by 60% against bitcoin since it is having trouble this year since it got down by more than 66% previously which is seen on the charts in the altcoin news that the third-largest cryptocurrency has seven consecutive red candles in a month.
Unfortunately, as the situation is currently developing, it looks like the cryptocurrency is not letting up anytime soon. An analyst under the name LiverCoin on Twitter believes that Ripple will only go down further. According to him, Ripple will revisit the historical support before it launches a massive parabolic rally. In the bear market this year, Ripple went into oversold conditions in both daily and weekly time frames. It is not surprising to see someone that is calling for relief before the next crash. However, Livercoin’s prediction does not come from oversold conditions. His prediction is based on the fractal which is a geometric structure. The technical analysis shows that the historical price action is identifying the fractals in one chart which helps the traders see the future price action.
In the case of Ripple, the crypto token rallied by more than 4,000 satoshis in 2017 before dropping and reaching the stability of 1,500 satoshis. The drop of more than 60 percent in less month is what the trader expects to unfold in the upcoming weeks since the cryptocurrency is creating a similar geometric structure. Ripple will drop by 60 percent as predicted by Livercoin which will cause maximum pain to retail investors. If the trades reach up to 1,500 satoshis, then it will be safe to assume that the investors have been shaken out.
As noted in the latest cryptocurrency news, based on the fractal theory that Livercoin based his prediction on, Ripple will skyrocket right after it hits the historical support line of 1,500 satoshis. The influx of capital will be very quick and many retail investors will be left on the sidelines. By looking at the analysts’ charts, Ripple will ascent to 17,000 satoshis in the next couple of days. Although this could sound like an absurd prediction, anything is possible on the crypto market.
MoneyGram And Ripple Extend Their Partnership With $11.3 Million
"MoneyGram continued to expand its strategic partnership with Ripple as the first money transfer company to scale the use of blockchain capabilities."Nothing in the SEC filings state what Ripple's investment will be used for. Still, MoneyGram's agreement with Ripple has previously allowed it to use XRP and its blockchain product named ODL (On-Demand Liquidity) to facilitate cross-border payments.
"[MoneyGram] is compensated by Ripple for developing and bringing liquidity to foreign exchange markets, facilitated by Ripple's blockchain, and providing a reliable level of foreign exchange trading activity. The Company expects that this partnership, at scale, will reduce our working capital needs and generate additional earnings and cash flows."MoneyGram and Ripple already were in a financial tie. The two firms announced their partnership back in January 2018 when MoneyGram decided to integrate XRP into its payment system. In June 2019, we saw that the two firms entered into a partnership to collaborate on cross-border payments and foreign exchange settlements with digital assets. The blockchain news then showed that Ripple followed through with a $50 million investment, completed in November. Despite the close working relationship, not all money transfer methods are being handled by Ripple. Reports recently showed that MoneyGram unveiled FastSend, a service which allows for real-time money sending based on Visa. While Ripple is doing good by expanding its partnerships and actively improving its blockchain, the token is falling down just like many other altcoins. Right now, the Ripple news and XRP updates show that the coin is in a 8.33% decline, going to new levels at $0.2438 in the wake of a major selloff which occurred on the markets overnight. The total cryptocurrency market today is at $261 billion.
XRP Traders Turn Bullish, Price Could Reach $0.46: Analysis
“#Ripple CEO Brad Garlinghouse said that stressing compliance is key to getting bankers on board with #crypto. We don't need bankers to get involved in the crypto. Maybe he and his company do, but the space doesn't. Crypto doesn't need banks, because crypto will replace them.”Brad Garlinghouse was in an interview when he commented that there are too many crypto assets out there. There are about 3,000 different digital assets that are trading on a daily basis.
Ripple And Coinbase Are Among 10 Biggest Companies In 2020
Ripple XRP Could Explode Higher If Technical Stars Align
Basic Attention Token Rises 11% After Perpetual Contract Launch
Binance Coin BNB Collapses 10% In 24-Hours: Analysis
Crypto Lawyers Fight Over Who Gets To Lead Tether’s Lawsuit
Monero VS Bitcoin: Is The Privacy Feature Enough?
Crypto Payment Platform AnyPay Won’t Accept BTC Anymore
Antminer E3 Stops ETC Mining While ETH Has 1 Month Left
This Coin Saw Major Growth But Has Strange Downside Potential
Tim Draper Left Stocks For Bitcoin 6 Months Ago
Binance UK News Show Buying BTC Is Now Easier Than Before
Litecoin Prints Many Buying Signals Which Could Prove Bullish
China Declares Bitcoin As Property! Central Banks Prefer Crypto? SONY “Contactless” Hardware Wallet
JPMorgan Predicts A 60% Recession, Is Crypto The Best Chance Now? | [Bitcoin News // Crypto News]
Ethereum Sees Record Number of Shorts! NEM Blockchain Hub | Samsung Blockchain Supply Logistics
Crypto Jobs Up 300%! Lost BTC 20% Rate of Recovery | Only 45% of Exchanges Meet Security Standards
DC Forecasts Proudly Backed The Global Disruptive Blockchain Innovation Summit
- Vechain News7 days ago
VeChain Announces Schedule And Election Of New Members
- Bitcoin News7 days ago
Bitcoin Just Signaled “Sell” While Falling To $9,600 Levels
- Libra News7 days ago
EU Does Not Know What To Do With Facebook’s Libra Coin
- Binance Coin News7 days ago
Binance Coin Declines To $22 After Bouncing Back
- Altcoin News7 days ago
Buy Top Products From Taiwanese Brands With Gifto (GTO)
- Blockchain News7 days ago
Algorand Cemented Its Position As A Major Ethereum Challenger In 2020
- Ethereum Classic News7 days ago
Ethereum Classic Is With Solid Fundamentals Despite Recent Losses
- Ripple News7 days ago
XRP FAQ: The 7 Most Common Questions Asked About Ripple