{"id":390031,"date":"2019-07-16T17:00:56","date_gmt":"2019-07-16T17:00:56","guid":{"rendered":"https:\/\/wncen.com\/?p=390031"},"modified":"2024-06-11T17:31:22","modified_gmt":"2024-06-11T17:31:22","slug":"xrp-slides-23-4-mnuchin-presser-a-ray-of-hope-for-ripple","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-slides-23-4-mnuchin-presser-a-ray-of-hope-for-ripple\/","title":{"rendered":"XRP Slides 23.4%, Mnuchin Presser A Ray of Hope For Ripple"},"content":{"rendered":"<ul>\n<li><em>Ripple (XRP) is down 23.4 percent<\/em><\/li>\n<li><em>Like Libra, proper regulation will see XRP soar<\/em><\/li>\n<\/ul>\n<p><em>Steven Mnuchin presser highlights the significance of oversight. Appropriate controls would either destroy or boost Ripple\u2019s ambitions of building a sustainable web, the Internet of Value, where XRP plays a significant role. Currently, sellers are at the lead as prices tumble 23.4 percent from last week\u2019s close.<\/em><\/p>\n<h2>Ripple Price Analysis<\/h2>\n<h2>Fundamentals<\/h2>\n<p>To flourish and positively impact livelihoods, Ripple\u2019s expansion largely depends on how regulators perceive their products. Of the three core solutions, <a href=\"https:\/\/wncen.com\/2019\/07\/04\/ripples-optimism-500-million-spent-on-xrp-use-case-development\/\" target=\"_blank\" rel=\"noopener noreferrer \">xCurrent<\/a> is the most adopted. At the same time, xVia is on the periphery while the use of xRapid is drawing unwanted attention.<\/p>\n<p>Often, critics slam Ripple not because of their speedy and efficient options or their drive to replace legacy platforms, but on their view of <a href=\"https:\/\/wncen.com\/2018\/12\/04\/eos-centralization-woes-return-as-block-producer-offers-money-for-votes\/\" target=\"_blank\" rel=\"noopener noreferrer \">centralization<\/a>. Since the San Francisco based startup owns a majority of XRP, there are concerns that prices are prone to market manipulation.<\/p>\n<p>It\u2019s all because XRP is a liquidity tool, a medium of exchange which facilitate near instantaneous conversion of fiat. Already, Ripple has forged partnerships with leading exchanges like <a href=\"https:\/\/wncen.com\/2019\/03\/30\/bitstamp-bitso-ripple-xrp-volumes-spike-will-prices-follow-suit\/\" target=\"_blank\" rel=\"noopener noreferrer \">Bitstamp<\/a>, Bittrex, and Bitso opening up corridors to Mexico and the Philippines.<\/p>\n<p>However, if there is clarification on what XRP is-whether it is a utility or security, then payment providers as Ramessa Online, for example, will quickly jump in, upgrade to version 4 of xCurrent incorporating <a href=\"https:\/\/wncen.com\/2019\/06\/21\/ripple-xrp-undervalued-libra-is-a-wake-up-call-for-banks\/\" target=\"_blank\" rel=\"noopener noreferrer \">xRapid<\/a> in their operations.<\/p>\n<p>Because of this need, the US Secretary of Treasury, Steven Mnuchin, in a recent <a href=\"https:\/\/youtu.be\/jH5Em9Le9KM\" rel=\"nofollow\">presser<\/a> addressing regulations said:<\/p>\n<blockquote><p>\u201cWith regard to Facebook\u2019s Libra, our overriding goal is to maintain the integrity of our financial system and protect it from abuse. We\u2019ll make sure the general public and investors understand what they\u2019re investing in and whether it\u2019s the SEC or other regulators there [will be] proper disclosures.\u201d<\/p><\/blockquote>\n<h2>Candlestick Arrangements<\/h2>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-390034\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Ripple-Daily-Chart-July-16.png?resize=1366%2C768\" alt=\"Ripple XRP\" width=\"1366\" height=\"768\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Ripple-Daily-Chart-July-16.png?w=1366 1366w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Ripple-Daily-Chart-July-16.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Ripple-Daily-Chart-July-16.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Ripple-Daily-Chart-July-16.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Ripple-Daily-Chart-July-16.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/07\/Ripple-Daily-Chart-July-16.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>At the time of writing, <a href=\"https:\/\/wncen.com\/2019\/07\/15\/ripple-xrp-is-down-20-8-but-will-30-cents-and-q1-support-hold\/\" target=\"_blank\" rel=\"noopener noreferrer \">XRP<\/a> is down 23.4 percent week-to-date. Retesting the main support line of 30 cents, bears are in control. To reiterate, the short-to-medium term price trajectory of XRP depends on reaction at Q1 2019 support.<\/p>\n<p>If the latter is the case, buyers stand a chance. As a result, aggressive traders would buy the dips. After that, first target will be at 34 cents and later 40 cents.<\/p>\n<p>Not only will this confirm an extended continuation, but the positive reaction will set in motion a possibility of a strong surge past 40 cents and even 50 cents to Sep 2018 high of 80 cents validating this trade plan\u2019s stance.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>In that case, a trend defining or nullifying candlestick must have high trading volumes exceeding 187 million of May 14. The bar, in this case, must either lead prices above 40 cents or close below 30 cents triggering panic sells with targets at 17 cents or lower.<\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\"><em><strong>Chart<\/strong><\/em><\/a><em><strong> courtesy of Trading View. Image Courtesy of Shutterstock<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple (XRP) is down 23.4 percent Like Libra, proper regulation will see XRP soar Steven Mnuchin presser highlights the significance of oversight. Appropriate controls would either destroy or boost Ripple\u2019s ambitions of building a sustainable web, the Internet of Value, where XRP plays a significant role. Currently, sellers are at the lead as prices tumble 23.4 percent from last week\u2019s close. Ripple Price Analysis Fundamentals To flourish and positively impact livelihoods, Ripple\u2019s expansion largely depends on how regulators perceive their products. Of the three core solutions, xCurrent is the most adopted. At the same time, xVia is on the periphery while the use of xRapid is drawing unwanted attention. Often, critics slam Ripple not because of their speedy and efficient options or their drive to replace legacy platforms, but on their view of centralization. Since the San Francisco based startup owns a majority of XRP, there are concerns that prices are prone to market manipulation. It\u2019s all because XRP is a liquidity tool, a medium of exchange which facilitate near instantaneous conversion of fiat. Already, Ripple has forged partnerships with leading exchanges like Bitstamp, Bittrex, and Bitso opening up corridors to Mexico and the Philippines. However, if there is clarification on what XRP is-whether it is a utility or security, then payment providers as Ramessa Online, for example, will quickly jump in, upgrade to version 4 of xCurrent incorporating xRapid in their operations. Because of this need, the US Secretary of Treasury, Steven Mnuchin, in a recent presser addressing regulations said: \u201cWith regard to Facebook\u2019s Libra, our overriding goal is to maintain the integrity of our financial system and protect it from abuse. We\u2019ll make sure the general public and investors understand what they\u2019re investing in and whether it\u2019s the SEC or other regulators there [will be] proper disclosures.\u201d Candlestick Arrangements At the time of writing, XRP is down 23.4 percent week-to-date. Retesting the main support line of 30 cents, bears are in control. To reiterate, the short-to-medium term price trajectory of XRP depends on reaction at Q1 2019 support. If the latter is the case, buyers stand a chance. As a result, aggressive traders would buy the dips. After that, first target will be at 34 cents and later 40 cents. Not only will this confirm an extended continuation, but the positive reaction will set in motion a possibility of a strong surge past 40 cents and even 50 cents to Sep 2018 high of 80 cents validating this trade plan\u2019s stance. Technical Indicators In that case, a trend defining or nullifying candlestick must have high trading volumes exceeding 187 million of May 14. The bar, in this case, must either lead prices above 40 cents or close below 30 cents triggering panic sells with targets at 17 cents or lower. Chart courtesy of Trading View. Image Courtesy of Shutterstock<\/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":[48152,3680,4531],"class_list":["post-390031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-mnuchin","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\n<title>XRP Slides 23.4%, Mnuchin Presser A Ray of Hope For Ripple<\/title>\n<meta name=\"description\" content=\"Regulation, in the long run, will either make or break Ripple. 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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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