Categories: Ripple

Ripple Keen on Meeting SEC’s Decentralization Requirements: Ripple (XRP) Technical Analysis

Click here to view original web page at

Not only is Ripple providing solutions to banks but they are walking the talk implementing their decentralization strategy. As it stands, Ripple (XRP) buyers are keen on reversing May-June losses and are up seven percent in the last 24 hours. Odds are they might add their gains today.

From the News

Just to put this across: Ripple could be after all the savior of banks. Do you know that the more than 30,000 banks spread across the world need about $27 trillion of liquidity in between them just to process cross border payments? That’s huge and in any case, we have solid statistics that practically show that Ripple’s liquidity tool, the XRP can be global banks savior. As a matter of fact, XRP has a unique property simply because it settles almost instantaneously meaning it can literally “teleport’ value between two financial institutions that utilizes xRapid and XRP in that manner.

If we quantify costs, XRP can save up-to 70 percent of the initial costs lost through friction in current bank set-ups. This might be the reason why Brad Garlinghouse, the CEO of Ripple and the main advocate for Ripple is upbeat talking of “most” global banks using their infrastructure by end of 2019. By all measures, his assertions and confidence isn’t far-fetched more so if we consider the number of partnerships, programs and community developments that Ripple has initiated thus far.

Huge news. It means Ripple no longer has 80% of the validators in their own recommended Unique Node List meaning they can't unilaterally pass any amendments without the help of a third party validator!

We're objectively gonna be more decentralized than BTC & ETH by EOY. BOOM.

On the development front, Ripple is implementing their decentralization strategy and a few days ago, they added four third party Validators to their Unique Node List (UNL). This means, in line with their May 2017 declaration and “independence” drive, Ripple needs to add 13 more Validators to their network to achieve total decentralization cancelling out Ripple Lab hold of the XRP validation network. Of course, this is good news and with it talks or even rumors of decentralization would fade.

Ripple (XRP) Technical Analysis

Taking a cautious approach whilst trading will almost definitely guarantees buying at peaks or selling at bottoms and that’s why, at current XRP prices, patience is indispensable. Yes, XRP buyers might be jumping in right at support as July tags with it buy pressure but by all accounts, this week is but a confirmation week.

That’s if last week’s pin bar was a foundation for buyers to spring boarding back to April high. Judging from price action, XRP prices are stable. Now, before we jump in, we need to see strong volumes by this week’s close and perhaps a close above week ending June 24 at 50 cents.

For the first time this year, we might after all be witnessing the early stages of a bottoming market. Here’s why: First, XRP bears were slowing down prior to this up-surge, failing to break below the main support line at 45 cents. Secondly, yesterday’s strong bullish candlestick was accompanied by volume spikes exceeding previous averages.

Then again, this rejection is happening at key support line and confirming a double bar bull reversal pattern that printed on June 28-29.

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.

Tags: Ripple (XRP) Technical Analysis, Ripple Decentralization Strategy, Ripple Price Forecast


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Overstock Will Champion Crypto Despite Cheerleader Byrne’s Exit

Overstock will continue its crypto and blockchain-centric focus despite Patrick Byrne's exit. | Source: YouTube By CCN Markets : Online… Read More

5 hours ago

59-Year-Old Fjällräven Evolves Retail Landscape by Using Blockchain-Based Cryptocurrency for Back-to-School

BOULDER, Colo. (August 22, 2019) — As brands seek ways to engage new, digital-native communities, Fjällräven, the Swedish heritage outdoor… Read More

5 hours ago

Refining The Travel Industry Through Blockchain

If you have travelled before, then you are aware of the myriads of companies that would be involved in a… Read More

5 hours ago

NBA & Blockchain: glimpse of the future?

These days it seems companies quite enjoy adding “2.0” to the end of everything: Internet 2.0, web 2.0, etc. Well,… Read More

5 hours ago

CNBC Analyst Explains Why He is Bearish on Bitcoin

Share Tweet Send Share Earlier this week CNBC Fast Money host Brian Kelly said he is short-term bearish on Bitcoin… Read More

5 hours ago

New York Gym Grit Bxng Accepts BTC Payments

Who would have ever thought that working out and bitcoin could ever go together? Well, thanks to a new Manhattan-based… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More