{"id":377449,"date":"2019-04-06T19:00:02","date_gmt":"2019-04-06T19:00:02","guid":{"rendered":"https:\/\/wncen.com\/?p=377449"},"modified":"2024-06-11T21:14:37","modified_gmt":"2024-06-11T21:14:37","slug":"theres-no-upside-resistance-ripple-xrp-bulls-aiming-at-40-cents","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/theres-no-upside-resistance-ripple-xrp-bulls-aiming-at-40-cents\/","title":{"rendered":"There\u2019s No Upside Resistance, Ripple (XRP) Bulls Aiming At 40 Cents"},"content":{"rendered":"
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Ripple prices trending within a bull breakout after closing above 34 cents<\/em><\/li>\n
Banks are hesitant to adopt xRapid and instead use xCurrent<\/em><\/li>\n<\/ul>\n
No doubt, Ripple Inc is proposing a novel and livelihood lifting idea that stands to shape remittance. However, with incumbents holding their ground, revamping their systems and plugging leakages, Ripple has much ground to cover. As they do so, Ripple (XRP) bulls are back and likely to close above 40 cents by mid-next week.<\/em><\/p>\n
Ripple Price Analysis<\/h2>\n
Fundamentals<\/h3>\n
The global payment and financial landscape are unrivaled when it comes to testing new systems. They are cautious, and all they need are solutions that are secure beyond \u201cany reasonable doubt.\u201d Unfortunately, though, they are plagued by scandals and continue to soak in heavy fines especially from US and European regulators. The latest mega bank was Swedbank whose CEO had to face the sack because of the institution\u2019s involvement in a money laundering scandal unnecessarily heaping pressure on their operations.<\/p>\n
Regardless, while they are the main cog in global finance steadying economies, their failure to test new systems as Ripple\u2019s solutions don\u2019t make sense. As a real-time, global payment system, Ripple proposal is to replace SWIFT, an age-old messaging network that until recently, in the face of competition was unwilling to innovate and reduce lag time.<\/p>\n
A handful of banks are part of the Ripple network with most utilizing xCurrent, an enterprise-grade solution that allows instantaneous settlement and end to end encryption of transaction between member banks. However, investors are tracking adoption of xRapid. Mired by regulatory challenges, once there\u2019s clarification from the US, it would be all systems go.<\/p>\n