{"id":380792,"date":"2019-05-03T18:00:24","date_gmt":"2019-05-03T18:00:24","guid":{"rendered":"https:\/\/wncen.com\/?p=380792"},"modified":"2024-06-11T18:29:29","modified_gmt":"2024-06-11T18:29:29","slug":"ripple-xrp-performance-dismal-central-banks-fight-back","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/","title":{"rendered":"Ripple (XRP) Performance Dismal, Central Banks Link Up"},"content":{"rendered":"<ul>\n<li><em>Ripple (XRP) performance dismal, bulls add 1.3 percent in 24 hours.<\/em><\/li>\n<li><em>Despite apparent efficiency, a central bank official said he sees no potential in Ripple<\/em><\/li>\n<\/ul>\n<p><em>An official from Singapore\u2019s MAS is skeptical of retail bank digital currencies capabilities after the country\u2019s Project Ubin linked with Canada\u2019s Project Jasper effecting the first transaction. Presently, Ripple (XRP) is lagging in performance in the top-10 as bulls fail to cross above 34 cents.<br \/>\n<\/em><\/p>\n<h2>Ripple Price Analysis<\/h2>\n<h3>Fundamental<\/h3>\n<p>Over and above everything, Ripple is, first of all, a global fund transfer and payment platform. Proponents claim Ripple&#8217;s leading solutions are new \u2013age solutions designed explicitly to deal with decade age problems of high latency, high fees and well, extra costs through Nostro&#8211;Vostro accounts.<\/p>\n<p>That is what the blockchain startup\u2019s executives seek to introduce to a world yearning for change but barred by a rigid but core network. Although the 43-year-old system in SWIFT may be slow but responding to changing times, it did contribute positively to economic growth. Even so, Sopnendu Mohanty, the Chief Finance Officer of Singapore\u2019s regulator MAS, is skeptical of retail bank digital currencies.<\/p>\n<p>While speaking at MIT\u2019s <a href=\"https:\/\/events.technologyreview.com\/presents\/business-of-blockchain\/2019\/\" rel=\"nofollow\">Business of Blockchain<\/a>, the Fintech officer said:<\/p>\n<blockquote><p><em>\u00a0\u201cWe don\u2019t see much in the Retail bank digital currency, but still much hope that we can remove a lot of inefficiencies [\u2026] when it comes to cross-border payments.\u201d <\/em><\/p><\/blockquote>\n<p>His comments come after Singapore\u2019s and Canada\u2019s central banks connected via Projects Ubin and Jasper for the first time.<\/p>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-380793\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-3.png?resize=1280%2C1024\" alt=\"Ripple XRP\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-3.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-3.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-3.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-3.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-3.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-3.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Aside from Tether (USDT) which is stable and down, Ripple (XRP) is the second worst performing asset in the top \u2013ten adding 1.3 percent in the last day. Although we are bullish on Ripple (XRP) prospects, it is after prices rally past essential resistance levels. One of them is 34 cents. The level caps XRP bulls forcing prices to consolidate within a 4 cents range with supports at 30 cents.<\/p>\n<p>Nonetheless, it is likely that this level will hold, preventing liquidation towards 25 cents as prices retest Sep 2018 main supports. Overly, the longer the consolidation is, the stronger the breakout and depending on the direction, any surge above 34 cents or better still, 40 cents must be will high transaction volumes exceeding 79 million of Apr-2.<\/p>\n<h2>Technical Indicator<\/h2>\n<p>From the chart, sellers have the upper hand because buyers are yet to reverse losses of Apr-24-25 comprehensively. As laid out in our last <a href=\"https:\/\/wncen.com\/2019\/05\/02\/mega-banks-joining-ripple-despite-xrp-sell-pressure\/\" target=\"_blank\" rel=\"noopener noreferrer \">XRP\/USD trade plan<\/a>, it is after prices edge past 32 cents or Apr-24 highs with above average volumes exceeding May-2 average of 20 million and 79 million of Apr-2 is when buyers would be back triggering another wave of buyers aiming at 40 cents.<\/p>\n<p><strong><em>Chart courtesy of Trading View<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple (XRP) performance dismal, bulls add 1.3 percent in 24 hours. Despite apparent efficiency, a central bank official said he sees no potential in Ripple An official from Singapore\u2019s MAS is skeptical of retail bank digital currencies capabilities after the country\u2019s Project Ubin linked with Canada\u2019s Project Jasper effecting the first transaction. Presently, Ripple (XRP) is lagging in performance in the top-10 as bulls fail to cross above 34 cents. Ripple Price Analysis Fundamental Over and above everything, Ripple is, first of all, a global fund transfer and payment platform. Proponents claim Ripple&#8217;s leading solutions are new \u2013age solutions designed explicitly to deal with decade age problems of high latency, high fees and well, extra costs through Nostro&#8211;Vostro accounts. That is what the blockchain startup\u2019s executives seek to introduce to a world yearning for change but barred by a rigid but core network. Although the 43-year-old system in SWIFT may be slow but responding to changing times, it did contribute positively to economic growth. Even so, Sopnendu Mohanty, the Chief Finance Officer of Singapore\u2019s regulator MAS, is skeptical of retail bank digital currencies. While speaking at MIT\u2019s Business of Blockchain, the Fintech officer said: \u00a0\u201cWe don\u2019t see much in the Retail bank digital currency, but still much hope that we can remove a lot of inefficiencies [\u2026] when it comes to cross-border payments.\u201d His comments come after Singapore\u2019s and Canada\u2019s central banks connected via Projects Ubin and Jasper for the first time. Candlestick Arrangement Aside from Tether (USDT) which is stable and down, Ripple (XRP) is the second worst performing asset in the top \u2013ten adding 1.3 percent in the last day. Although we are bullish on Ripple (XRP) prospects, it is after prices rally past essential resistance levels. One of them is 34 cents. The level caps XRP bulls forcing prices to consolidate within a 4 cents range with supports at 30 cents. Nonetheless, it is likely that this level will hold, preventing liquidation towards 25 cents as prices retest Sep 2018 main supports. Overly, the longer the consolidation is, the stronger the breakout and depending on the direction, any surge above 34 cents or better still, 40 cents must be will high transaction volumes exceeding 79 million of Apr-2. Technical Indicator From the chart, sellers have the upper hand because buyers are yet to reverse losses of Apr-24-25 comprehensively. As laid out in our last XRP\/USD trade plan, it is after prices edge past 32 cents or Apr-24 highs with above average volumes exceeding May-2 average of 20 million and 79 million of Apr-2 is when buyers would be back triggering another wave of buyers aiming at 40 cents. Chart courtesy of Trading View<\/p>\n","protected":false},"author":384,"featured_media":377284,"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":[2908,3680,4531],"class_list":["post-380792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-mas","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\n<title>Ripple (XRP) Performance Dismal, Central Banks Fight Back<\/title>\n<meta name=\"description\" content=\"Ripple has grand plans of upgrading the global payment network but is facing some headwinds. 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XRP prices are ranging and banks are fighting back.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-03T18:00:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T18:29:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/fomo2-xrp2.jpg?fit=1200%2C800\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"Ripple (XRP) Performance Dismal, Central Banks Link Up\",\"datePublished\":\"2019-05-03T18:00:24+00:00\",\"dateModified\":\"2024-06-11T18:29:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/\"},\"wordCount\":449,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/fomo2-xrp2.jpg?fit=1200%2C800\",\"keywords\":[\"mas\",\"Ripple\",\"xrp\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/\",\"url\":\"https:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/\",\"name\":\"Ripple (XRP) Performance Dismal, Central Banks Fight Back\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/fomo2-xrp2.jpg?fit=1200%2C800\",\"datePublished\":\"2019-05-03T18:00:24+00:00\",\"dateModified\":\"2024-06-11T18:29:29+00:00\",\"description\":\"Ripple has grand plans of upgrading the global payment network but is facing some headwinds. 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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. 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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. 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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) Performance Dismal, Central Banks Link Up","url":"http:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple-xrp-performance-dismal-central-banks-fight-back\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/fomo2-xrp2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/fomo2-xrp2.jpg?fit=1200%2C800"},"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":["mas","ripple","xrp"],"dateCreated":"2019-05-03T18:00:24Z","datePublished":"2019-05-03T18:00:24Z","dateModified":"2024-06-11T18:29:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ripple (XRP) Performance Dismal, Central Banks Link Up\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple-xrp-performance-dismal-central-banks-fight-back\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple-xrp-performance-dismal-central-banks-fight-back\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/fomo2-xrp2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/04\\\/fomo2-xrp2.jpg?fit=1200%2C800\"},\"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\":[\"mas\",\"ripple\",\"xrp\"],\"dateCreated\":\"2019-05-03T18:00:24Z\",\"datePublished\":\"2019-05-03T18:00:24Z\",\"dateModified\":\"2024-06-11T18:29:29Z\"}<\/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\/2019\/04\/fomo2-xrp2.jpg?fit=1200%2C800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/380792"}],"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=380792"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/380792\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/377284"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=380792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=380792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=380792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}