{"id":368604,"date":"2019-01-18T17:23:45","date_gmt":"2019-01-18T17:23:45","guid":{"rendered":"https:\/\/wncen.com\/?p=368604"},"modified":"2024-06-11T18:50:00","modified_gmt":"2024-06-11T18:50:00","slug":"ripple-price-analysis-xrp-consolidates-for-the-eighth-straight-day","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-price-analysis-xrp-consolidates-for-the-eighth-straight-day\/","title":{"rendered":"Ripple Price Analysis: XRP Consolidates For the Eighth Straight Day"},"content":{"rendered":"<ul>\n<li><em>Ripple prices in a 2 cents trade range below 34 cents<\/em><\/li>\n<li><em>Mercury FX demonstrates the power of XRP<\/em><\/li>\n<li><em>Prices ranging as daily average trading volumes drop t0 23 million\u2014streams from BitFinex<\/em><\/li>\n<\/ul>\n<p><em>Although the path of least resistance ought to be northwards, sellers are currently pinning down bulls. Nonetheless, our XRP\/USD trade plan is upbeat, and with Mercury FX moving huge sums from the UK to Mexico using XRP, it seems like we are on the early stages of widespread adoption.<\/em><\/p>\n<h1>Ripple Price Analysis<\/h1>\n<h4>Fundamentals<\/h4>\n<p>Today marks the seventh day of an energy-sapping consolidation that began after Jan 10 sharp falls. All the same, with last year value erosion, investors, as well as the trading community, believe the market might be making a turnaround. It\u2019s pretty ambitious, but the mere fact that prices are finding resistance for further upsides could wear off demand allowing bears to pick up in line with Jan 10 trend direction.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/1 We&#39;ve made our largest payments across RippleNet using <a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#XRP<\/a> \u2013 86,633.00 pesos (\u00a33,521.67) from the U.K. to Mexico in seconds. <a href=\"https:\/\/t.co\/WsHJuZTiOy\" rel=\"nofollow\">pic.twitter.com\/WsHJuZTiOy<\/a><\/p>\n<p>&mdash; Mercury Global (@mercuryfxglobal) <a href=\"https:\/\/twitter.com\/mercuryfxglobal\/status\/48145920?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 17, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the moment, we are closely watching how adoption is picking up. And propping investors\u2019 bullish projections is news that <a href=\"https:\/\/www.mercury-fx.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Mercury FX<\/a> used XRP to move$4,552.41&#8211;helping the client, Mustard Foods, save $90 and 31 hours\u2014from the UK to Mexico. The seamless and near instantaneous flow demonstrated in real time the capabilities of XRP and what adopting companies set to benefit should they ditch traditional systems characterized by latency and high costs.<\/p>\n<h4>Candlestick Arrangements<\/h4>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-368606\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ripple-Daily-Chart-Jan-18.png?resize=1280%2C1024\" alt=\"Ripple\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ripple-Daily-Chart-Jan-18.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ripple-Daily-Chart-Jan-18.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ripple-Daily-Chart-Jan-18.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ripple-Daily-Chart-Jan-18.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ripple-Daily-Chart-Jan-18.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ripple-Daily-Chart-Jan-18.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Back to the chart and XRP is struggling. Not only are prices accumulating within a 2 cents range with caps at 34 cents but from an effort versus result approach, bulls are in charge since prices are within Jan 14 high low. Regardless, we shall not recommend immediate buys at spot rates not until <a href=\"https:\/\/wncen.com\/2019\/01\/17\/ripple-price-analysis-xrp-demand-builds-up-in-lower-time-frames\/\" target=\"_blank\" rel=\"noopener \">XRP bulls<\/a> drive prices above 34 cents\u2014a level that also doubles up as the 50 percent Fibonacci retracement level.<\/p>\n<p>Our long-term bullish stance is still valid as long as spot prices are maintained above 30 cents and most importantly from 25 cents\u2014which mark Sep 2018 lows. If anything, the monthly bull bar will always define the long-term trajectory of this coin, and unless otherwise there are rapid drawdown, it is likely that prices will expand to 60 cents\u2014Dec 2018 highs and later 80 cents subject to a high-volume, ecstatic break and close above 40 cents or the 61.8 percent Fibonacci retracement level off Sep 2018 high-low.<\/p>\n<h4>Technical Indicators<\/h4>\n<p>Transaction volumes are low, and perhaps this could explain tight ranges inside Jan 14 high low. Though sellers may have the upper hand in the short-term, rejection of lower lows and subsequent rally from 30 cents to above 35 cents and even 50 cents should be at the back of high trade volumes exceeding 83 million on the upper end and daily averages of 23 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple prices in a 2 cents trade range below 34 cents Mercury FX demonstrates the power of XRP Prices ranging as daily average trading volumes drop t0 23 million\u2014streams from BitFinex Although the path of least resistance ought to be northwards, sellers are currently pinning down bulls. Nonetheless, our XRP\/USD trade plan is upbeat, and with Mercury FX moving huge sums from the UK to Mexico using XRP, it seems like we are on the early stages of widespread adoption. Ripple Price Analysis Fundamentals Today marks the seventh day of an energy-sapping consolidation that began after Jan 10 sharp falls. All the same, with last year value erosion, investors, as well as the trading community, believe the market might be making a turnaround. It\u2019s pretty ambitious, but the mere fact that prices are finding resistance for further upsides could wear off demand allowing bears to pick up in line with Jan 10 trend direction. 1\/1 We&#39;ve made our largest payments across RippleNet using #XRP \u2013 86,633.00 pesos (\u00a33,521.67) from the U.K. to Mexico in seconds. pic.twitter.com\/WsHJuZTiOy &mdash; Mercury Global (@mercuryfxglobal) January 17, 2019 At the moment, we are closely watching how adoption is picking up. And propping investors\u2019 bullish projections is news that Mercury FX used XRP to move$4,552.41&#8211;helping the client, Mustard Foods, save $90 and 31 hours\u2014from the UK to Mexico. The seamless and near instantaneous flow demonstrated in real time the capabilities of XRP and what adopting companies set to benefit should they ditch traditional systems characterized by latency and high costs. Candlestick Arrangements Back to the chart and XRP is struggling. Not only are prices accumulating within a 2 cents range with caps at 34 cents but from an effort versus result approach, bulls are in charge since prices are within Jan 14 high low. Regardless, we shall not recommend immediate buys at spot rates not until XRP bulls drive prices above 34 cents\u2014a level that also doubles up as the 50 percent Fibonacci retracement level. Our long-term bullish stance is still valid as long as spot prices are maintained above 30 cents and most importantly from 25 cents\u2014which mark Sep 2018 lows. If anything, the monthly bull bar will always define the long-term trajectory of this coin, and unless otherwise there are rapid drawdown, it is likely that prices will expand to 60 cents\u2014Dec 2018 highs and later 80 cents subject to a high-volume, ecstatic break and close above 40 cents or the 61.8 percent Fibonacci retracement level off Sep 2018 high-low. Technical Indicators Transaction volumes are low, and perhaps this could explain tight ranges inside Jan 14 high low. Though sellers may have the upper hand in the short-term, rejection of lower lows and subsequent rally from 30 cents to above 35 cents and even 50 cents should be at the back of high trade volumes exceeding 83 million on the upper end and daily averages of 23 million.<\/p>\n","protected":false},"author":384,"featured_media":338078,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[14505,3680,4531],"class_list":["post-368604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-mercury-fx","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\n<title>Ripple Price Analysis: XRP Consolidates For the Eighth Straight Day<\/title>\n<meta name=\"description\" content=\"Ripple prices in a 2 cents trade range below 34 cents Mercury FX demonstrates the power of XRP Prices ranging as 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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