{"id":383659,"date":"2019-05-24T18:00:36","date_gmt":"2019-05-24T18:00:36","guid":{"rendered":"https:\/\/wncen.com\/?p=383659"},"modified":"2019-05-24T18:00:20","modified_gmt":"2019-05-24T18:00:20","slug":"ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp\/","title":{"rendered":"Ripple Prices Ranging, Will Siam Commercial Bank Leverage XRP?"},"content":{"rendered":"<ul>\n<li><em>XRP up 3.2 percent.\u00a0<\/em><\/li>\n<li><em>Thailand\u2019s oldest bank, Siam Commercial Bank (SCB), to pioneer Ripple&#8217;s Multi-hop.<\/em><\/li>\n<\/ul>\n<p><em>Siam Commercial Bank (SCB) will pioneer Ripple\u2019s Multi-hop feature, although the public will wait for further announcement on whether the bank will utilize XRP in their future transactions. Meanwhile, XRP is ranging, adding 3.2 percent from May 23<sup>rd<\/sup> close.<\/em><\/p>\n<h2>Ripple Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>For any cryptocurrency project to be successful, it must partner with companies, finding use cases in the process. That is what many have disclosed in their white papers, and Ripple is no exception.<\/p>\n<p>Described as a banker\u2019s coin, XRP is the medium of exchange for such interactions. It is liquid and highly capitalized, attracting investors and speculators in the process. Nonetheless, Ripple is struggling to draw banks. With <a href=\"https:\/\/wncen.com\/2019\/03\/12\/ripple-swift-direct-partnership-slim-md-points-at-hard-numbers\/\" target=\"_blank\" rel=\"noopener noreferrer \">SWIFT<\/a> retaining the lion&#8217;s share of global bank transfers, it will take a lot of convincing and proof before a large-scale migration happen.<\/p>\n<p>Presently, most banks plugged to the RippleNet make use of <a href=\"https:\/\/wncen.com\/2018\/09\/19\/3-fundamental-reasons-for-20-percent-spike\/\" target=\"_blank\" rel=\"noopener noreferrer \">xCurrent<\/a>. The XRP community was excited, expecting Thailand\u2019s oldest bank, Siam Commercial Bank (SCB), to announce their adoption of <a href=\"https:\/\/wncen.com\/2018\/10\/02\/ripple-swell-day-one-xrapid-launch-and-ripplenet-use-cases\/\" target=\"_blank\" rel=\"noopener noreferrer \">xRapid.<\/a> But in a tweet, they said the public has to \u201cwait for further announcement.\u201d All the same, the bank will <a href=\"https:\/\/ripple.com\/insights\/siam-commercial-bank-pioneers-ripplenets-multi-hop-feature\/\" rel=\"nofollow\">pioneer<\/a> Ripple\u2019s multi-hop feature:<\/p>\n<blockquote><p>\u201cSiam Commercial Bank (SCB) will be the first financial institution on RippleNet to pioneer a key feature called \u201cmulti-hop,\u201d which allows them to settle frictionless payments on behalf of other financial institutions on the network. This eliminates the need for a direct one-to-one connection (or bilateral relationship) between financial institutions to settle a payment.\u201d<\/p><\/blockquote>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-383656\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-24.png?resize=1280%2C1024\" alt=\"Ripple XRP\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-24.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-24.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-24.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-24.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-24.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-24.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>At the time of press, XRP is up to 6.1 percent in 24 hours. The asset is ranging, oscillating below 40 cents.\u00a0 Because of this, previous <a href=\"https:\/\/wncen.com\/2019\/05\/23\/collaboration-banks-only-accelerator-ripple-xrp-bulls\/\" target=\"_blank\" rel=\"noopener noreferrer \">XRP\/USD trade plan<\/a>s are valid. As it is, aggressive traders can find opportunity in smaller times. That is where they can buy on dips with the first target at 43 cents since the trend is bullish and XRP is within a breakout pattern.<\/p>\n<p>However, for trend continuation, it is imperative that buyers build momentum and drive prices above the liquidation level at 43 cents. The resulting upthrust will allow bulls of early April and May to show in the process aligning prices to the main trend of September 2018.<\/p>\n<p>On the reverse side, this breakout pattern will be null if prices fall below 34 cents.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>From the chart, XRP is ranging against the USD and May 19<sup>th<\/sup> anchors our trade plan. The bar\u2019s trade range is extensive and is equally backed by high trading volumes of 56 million against 68 million. Since bulls are in control, any uptick in participation, driving prices above 43 cents must be above 56 million or 187 million.<\/p>\n<pre><a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\"><strong><em>Chart<\/em><\/strong><\/a><strong><em> courtesy of Trading View. Image Courtesy of Shutterstock<\/em><\/strong><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>XRP up 3.2 percent.\u00a0 Thailand\u2019s oldest bank, Siam Commercial Bank (SCB), to pioneer Ripple&#8217;s Multi-hop. Siam Commercial Bank (SCB) will pioneer Ripple\u2019s Multi-hop feature, although the public will wait for further announcement on whether the bank will utilize XRP in their future transactions. Meanwhile, XRP is ranging, adding 3.2 percent from May 23rd close. Ripple Price Analysis Fundamentals For any cryptocurrency project to be successful, it must partner with companies, finding use cases in the process. That is what many have disclosed in their white papers, and Ripple is no exception. Described as a banker\u2019s coin, XRP is the medium of exchange for such interactions. It is liquid and highly capitalized, attracting investors and speculators in the process. Nonetheless, Ripple is struggling to draw banks. With SWIFT retaining the lion&#8217;s share of global bank transfers, it will take a lot of convincing and proof before a large-scale migration happen. Presently, most banks plugged to the RippleNet make use of xCurrent. The XRP community was excited, expecting Thailand\u2019s oldest bank, Siam Commercial Bank (SCB), to announce their adoption of xRapid. But in a tweet, they said the public has to \u201cwait for further announcement.\u201d All the same, the bank will pioneer Ripple\u2019s multi-hop feature: \u201cSiam Commercial Bank (SCB) will be the first financial institution on RippleNet to pioneer a key feature called \u201cmulti-hop,\u201d which allows them to settle frictionless payments on behalf of other financial institutions on the network. This eliminates the need for a direct one-to-one connection (or bilateral relationship) between financial institutions to settle a payment.\u201d Candlestick Arrangement At the time of press, XRP is up to 6.1 percent in 24 hours. The asset is ranging, oscillating below 40 cents.\u00a0 Because of this, previous XRP\/USD trade plans are valid. As it is, aggressive traders can find opportunity in smaller times. That is where they can buy on dips with the first target at 43 cents since the trend is bullish and XRP is within a breakout pattern. However, for trend continuation, it is imperative that buyers build momentum and drive prices above the liquidation level at 43 cents. The resulting upthrust will allow bulls of early April and May to show in the process aligning prices to the main trend of September 2018. On the reverse side, this breakout pattern will be null if prices fall below 34 cents. Technical Indicators From the chart, XRP is ranging against the USD and May 19th anchors our trade plan. The bar\u2019s trade range is extensive and is equally backed by high trading volumes of 56 million against 68 million. Since bulls are in control, any uptick in participation, driving prices above 43 cents must be above 56 million or 187 million. Chart courtesy of Trading View. Image Courtesy of Shutterstock<\/p>\n","protected":false},"author":384,"featured_media":382288,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,41353,12354,4531],"class_list":["post-383659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-scb","tag-xrapid","tag-xrp"],"acf":[],"yoast_head":"\n<title>Ripple Prices Ranging, Will Siam Commercial Bank Leverage XRP?<\/title>\n<meta name=\"description\" content=\"XRP up 3.2 percent.\u00a0 Thailand\u2019s oldest bank, Siam Commercial Bank (SCB), to pioneer Ripple&#039;s Multi-hop. 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Siam Commercial Bank (SCB) will pioneer Ripple\u2019s\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ripple\/ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp\/\" \/>\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=\"2019-05-24T18:00:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-24T18:00:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/shutterstock_1156749094.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\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\/ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ripple\/ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"Ripple Prices Ranging, Will Siam Commercial Bank Leverage XRP?\",\"datePublished\":\"2019-05-24T18:00:36+00:00\",\"dateModified\":\"2019-05-24T18:00:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ripple\/ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp\/\"},\"wordCount\":454,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ripple\/ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/shutterstock_1156749094.jpg?fit=1000%2C667\",\"keywords\":[\"Ripple\",\"SCB\",\"xRapid\",\"xrp\"],\"articleSection\":[\"Ripple\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/ripple\/ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ripple\/ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp\/\",\"url\":\"https:\/\/wncen.com\/news\/ripple\/ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp\/\",\"name\":\"Ripple Prices Ranging, Will Siam Commercial Bank Leverage XRP?\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ripple\/ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ripple\/ripple-prices-ranging-will-siam-commercial-bank-leverage-xrp\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/shutterstock_1156749094.jpg?fit=1000%2C667\",\"datePublished\":\"2019-05-24T18:00:36+00:00\",\"dateModified\":\"2019-05-24T18:00:20+00:00\",\"description\":\"XRP up 3.2 percent.\u00a0 Thailand\u2019s oldest bank, Siam Commercial Bank (SCB), to pioneer Ripple's Multi-hop. 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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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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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