{"id":380316,"date":"2019-04-30T18:00:28","date_gmt":"2019-04-30T18:00:28","guid":{"rendered":"https:\/\/wncen.com\/?p=380316"},"modified":"2024-06-11T21:14:32","modified_gmt":"2024-06-11T21:14:32","slug":"ripple-xrp-add-4-5-percent-but-is-it-overpriced","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-xrp-add-4-5-percent-but-is-it-overpriced\/","title":{"rendered":"Ripple (XRP) Add 4.5 Percent But is it Overpriced?"},"content":{"rendered":"<ul>\n<li><em>Ripple (XRP) up 4.5 percent<\/em><\/li>\n<li><em>Critics argue that the coin is overpriced<\/em><\/li>\n<\/ul>\n<p><em>At third, Ripple (XRP) prices are steady, bouncing off primary support at 30 cents. Even so, commentators say there is an overvaluation despite institutional, High net worth investors channeling their funds in Q1 2019.<\/em><\/p>\n<h2>Ripple Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>True, the space is sophisticated and with a mix of start-ups, analysts, supporters, developers and speculators, it may appear an arduous task to navigate. At one-point Ripple Inc, the independent company that owns a majority of XRP, always have to explain their position. While it is clear that institutions are flowing in, purchasing the coin in droves, critics are never yielding, and on Ripple Inc case regardless of good news.<\/p>\n<blockquote><p><em>\u201cWhile the price of XRP decreased, the average XRP daily volume was $595.28 million which is on par with XRP daily volume from Q4 2018. Besides, XRP\u2019s correlation with other top digital assets remained consistently high throughout the quarter.\u201d<\/em><\/p><\/blockquote>\n<p>An <a href=\"https:\/\/twitter.com\/CryptoKea\/status\/80267265\" rel=\"nofollow\">observer<\/a> is of the view that the world\u2019s third most liquid coin is over-priced at spot rates. As it is, Ripple (XRP) is trading at 30 cents against the USD. However, he reckons that if XRP is indeed a settlement coin, a liquidity provider that businesses would use for converting fiat with no incentive of holding then the currency ought to trade below one cent. That is if the coin would dominate, first the multi-trillion FX market which is the world\u2019s most liquid market.<\/p>\n<blockquote><p><em>\u201cWhy XRP is highly overpriced? Assuming it is no. 1 use case is as a settlement currency, and no one would want to hold on to XRP longer than necessary to reduce price risk, even a price of 0,0043 USD\/XRP would be high enough to settle the entire FX volume of $5.1 trillion per day.\u201d<\/em><\/p><\/blockquote>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-380310\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Ripple-Daily-Chart-Apr-30.png?resize=1366%2C768\" alt=\"Ripple XRP\" width=\"1366\" height=\"768\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Ripple-Daily-Chart-Apr-30.png?w=1366 1366w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Ripple-Daily-Chart-Apr-30.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Ripple-Daily-Chart-Apr-30.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Ripple-Daily-Chart-Apr-30.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Ripple-Daily-Chart-Apr-30.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/Ripple-Daily-Chart-Apr-30.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>After last week\u2019s meltdown, Ripple (XRP) may be back to its feet. Although it is not as steady and firm with sell pressure in smaller time frames, the fact that it did snap back to trend, is bullish.<\/p>\n<p>Note that our initial stance will not change. Despite the meltdown, we are bullish on the coin, and the correction of Apr-25 close below the lower BB and undervaluation off the main support line affirms buyers of Jan 30.<\/p>\n<p>Regardless, we shall be neutral until after prices reverse losses of Apr-24-25 complete with large transaction volumes above 34 cents in a trend resumption phase. Before then, our laid out <a href=\"https:\/\/wncen.com\/2019\/04\/27\/ripple-to-save-millions-for-a-oil-company-xrp-reacts-at-historical-support\/\" target=\"_blank\" rel=\"noopener noreferrer \">XRP\/USD trade plan<\/a> is correct.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>Our reference bar in light of recent activities is Apr-25. It has high volumes of 34 million against 19 million. Despite today\u2019s bull bar, we need above average volumes\u2014exceeding 19 million&#8211; to drive prices above Apr-24 highs at 32 cents towards 34 cents before risk-off traders load up on dips. Targets are at 40 cents and later 60 cents of Dec 2018.<\/p>\n<p><strong><em>Chart courtesy of Trading View<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple (XRP) up 4.5 percent Critics argue that the coin is overpriced At third, Ripple (XRP) prices are steady, bouncing off primary support at 30 cents. Even so, commentators say there is an overvaluation despite institutional, High net worth investors channeling their funds in Q1 2019. Ripple Price Analysis Fundamentals True, the space is sophisticated and with a mix of start-ups, analysts, supporters, developers and speculators, it may appear an arduous task to navigate. At one-point Ripple Inc, the independent company that owns a majority of XRP, always have to explain their position. While it is clear that institutions are flowing in, purchasing the coin in droves, critics are never yielding, and on Ripple Inc case regardless of good news. \u201cWhile the price of XRP decreased, the average XRP daily volume was $595.28 million which is on par with XRP daily volume from Q4 2018. Besides, XRP\u2019s correlation with other top digital assets remained consistently high throughout the quarter.\u201d An observer is of the view that the world\u2019s third most liquid coin is over-priced at spot rates. As it is, Ripple (XRP) is trading at 30 cents against the USD. However, he reckons that if XRP is indeed a settlement coin, a liquidity provider that businesses would use for converting fiat with no incentive of holding then the currency ought to trade below one cent. That is if the coin would dominate, first the multi-trillion FX market which is the world\u2019s most liquid market. \u201cWhy XRP is highly overpriced? Assuming it is no. 1 use case is as a settlement currency, and no one would want to hold on to XRP longer than necessary to reduce price risk, even a price of 0,0043 USD\/XRP would be high enough to settle the entire FX volume of $5.1 trillion per day.\u201d Candlestick Arrangement After last week\u2019s meltdown, Ripple (XRP) may be back to its feet. Although it is not as steady and firm with sell pressure in smaller time frames, the fact that it did snap back to trend, is bullish. Note that our initial stance will not change. Despite the meltdown, we are bullish on the coin, and the correction of Apr-25 close below the lower BB and undervaluation off the main support line affirms buyers of Jan 30. Regardless, we shall be neutral until after prices reverse losses of Apr-24-25 complete with large transaction volumes above 34 cents in a trend resumption phase. Before then, our laid out XRP\/USD trade plan is correct. Technical Indicators Our reference bar in light of recent activities is Apr-25. It has high volumes of 34 million against 19 million. Despite today\u2019s bull bar, we need above average volumes\u2014exceeding 19 million&#8211; to drive prices above Apr-24 highs at 32 cents towards 34 cents before risk-off traders load up on dips. Targets are at 40 cents and later 60 cents of Dec 2018. Chart courtesy of Trading View<\/p>\n","protected":false},"author":384,"featured_media":347583,"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":[3680,4531],"class_list":["post-380316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\n<title>Ripple (XRP) Add 4.5 Percent But is it Overpriced?<\/title>\n<meta name=\"description\" content=\"Ripple (XRP) up 4.5 percent Critics argue that the coin is overpriced At third, Ripple (XRP) prices are steady, bouncing off primary support at 30 cents.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/ripple-xrp-add-4-5-percent-but-is-it-overpriced\/\" 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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. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ripple (XRP) Add 4.5 Percent But is it Overpriced?","url":"http:\/\/wncen.com\/news\/ripple-xrp-add-4-5-percent-but-is-it-overpriced\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple-xrp-add-4-5-percent-but-is-it-overpriced\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-xrp4.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-xrp4.jpg?fit=1200%2C600"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","xrp"],"dateCreated":"2019-04-30T18:00:28Z","datePublished":"2019-04-30T18:00:28Z","dateModified":"2024-06-11T21:14:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ripple (XRP) Add 4.5 Percent But is it Overpriced?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple-xrp-add-4-5-percent-but-is-it-overpriced\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple-xrp-add-4-5-percent-but-is-it-overpriced\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-xrp4.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-xrp4.jpg?fit=1200%2C600\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"xrp\"],\"dateCreated\":\"2019-04-30T18:00:28Z\",\"datePublished\":\"2019-04-30T18:00:28Z\",\"dateModified\":\"2024-06-11T21:14:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-xrp4.jpg?fit=1200%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/380316"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=380316"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/380316\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/347583"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=380316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=380316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=380316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}