There is a tendency for XRP price to increase towards $0.49 supply level provided the Bulls gain enough momentum to break up the $0.46 supply level. In case the Bears continue to defend the $0.46 level consolidation may continue.
Should the Bulls defend the demand level of $0.42, they may resume and continue the bullish trend. In case the level does not hold and the Bears’ strength is able to break down the level, then, XRP price may reach $0.39 level.
MoneyGram announced that they’ve agreed to a deal with blockchain company Ripple that involves an investment of up to $50 million. MoneyGram will use Ripple’s XRP technology to handle cross-border transfers of digital funds for at least two years under the deal.
COR Index published its latest monthly report of key crypto exchange data. The report is based on figures gathered from over 150 cryptos and the top crypto exchanges.
XRP is already exposed to $0.42 level; further increase in the Bulls’ momentum may push XRP price to reach the target of $0.46. If the Bears manage to break down the demand level of $0.39, XRP price may descend to the previous low of $0.35.
Ripple along with its partners are changing lives in the South Eastern Asian Nations. Some call it the best testing grounds for blockchain and cryptos, since a lot of people are working abroad and using remittance networks to support their loved ones.
Ripple CEO, Brad Garlinghouse, revealed that a remittance company, which he wouldn’t disclose, has gained +800% in clients overnight because it recently began using Ripple’s technology. The main reason in this rise in the change in transaction fee.
The crypto market has responded positively to apparent demand from venture capitalists and institutional investors. Analysts think that none of the Bitcoin’s previous price rallies had the same optimism.
Should $0.39 level hold, the Bulls will push up the coin and may break up $0.42 supply level. In case the Bears increase their momentum, XRP price will decrease further towards the previous low of $0.35.
Because of the halving FOMO, LTC could peak by doubling its price just a few days before the halvening event, which could allow it to flip over XRP. But, is a 100 percent surge from current levels possible?
Ripple has entered the Latin American market by opening an office in Brazil in a move that aims to accelerate the speed of blockchain technology adoption and usage throughout the world.
Bitcoin expert Max Keiser has said that XRP and other digital currencies will be destroyed by GlobalCoin, the yet-to-be-launched cryptocurrency by the social network giant Facebook. The only one who will survive, thinks Keiser, will be Bitcoin.
Thailand’s largest commercial bank, the Siam Commercial Bank (SCB), which recently tweeted on possibility of launching an XRP-based system, decided suddenly, to issue a statement, according to which, the bank “has no plan on using XRP.”
The Bulls will have to gain more pressure in order to push XRP price to reach $0.46 supply level. Should the Bears exert more pressure and defend $0.42 level, the price may decline towards the demand level of $0.39.
After a rumor broke out yesterday that a California-based crypto start-up Ripple has acquired the major US-based money transfer company MoneyGram, both companies refused to comment. Still, even the rumor was enough for XRP price 8% boost.