Latest Ripple News

The race is on and three months after sponsoring the SWELL conference where amongst other important announcements, xRapid was launched, Ripple—the software solution provider has now rolled out xCurrent version 4. The new version–aside from being a payment processing platform providing end to end tracking, will allow integration of xRapid—one of the three main products fronted by Ripple that leverage on XRP as an on-demand liquidity tool.

Of course and as expected from the community, the move is a welcomed addition and though the uptake is really slow draws earlier comments made by Jim Kelly, the Director of Talent Acquisition at Ripple and the intention Ripple has of merging all their solutions into one irresistible product–where banks not only would send funds is a safe manner but there would be combination of rich information and end to end tracking via one wholesome product—called Convergence. At the moment, there has been no official communication from Ripple but we can connect the dots and see the trajectory of where this could end up.

Meanwhile, Ripple and CoinBase have decided to pool resources and fund a security issuing platform, Securitize. The company intends to tokenize the $7 trillion asset and securities sector. Already, the company has received $12.75 million in funding is Series A funding led by Blockchain Capital with participation from CoinBase Ventures and Xpring.

Technically, our previous XRP/USD bullish stance is still valid. Though XRP is down 11 percent in the last week, losses are tapering. It is actually up 12 percent since it was down 23 percent or thereabout early this week. Moving on, the rebound from 35 cents is positive and because we are overly bullish with prices trending above the lower limit of our support zone, it is likely that buyers would trigger a wave of buy pressure driving XRP above our ideal buy trigger line at 60 cents.

This is an important level not only marking Oct-Nov highs but the 38.2 percent Fibonacci retracement level anchoring on Sep high low. In the meantime—and considering price developments in the last few hours, we suggest short-term buys in lower time frames with first targets at 60 cents. On the reverse side, drops below 35 cents would usher in a wave of sell pressure complementing those of last week where XRP/USD could sink and print 15 cents by end of the year.

Here the rejection of lower lows is clear. Thanks to events of Nov 25 when a bullish pin bar—long lower wick printed indicating buy pressure in lower time frames—printed, subsequent bars have been trending inside that bar. Although the recovery is yet to be confirmed, buyers can begin loading up more so if prices close above 40 cents. After all, we now have a three bar bullish reversal bar at the back of high volumes. Therefore, if tomorrow end up bullish then aggressive traders should continue adding their longs with stops at 35 cents and first targets at 60 cents in line with the week ending Sep 23 upsurge.

*All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

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