Categories: Bitcoin Business

Ripple (XRP) BB Squeeze Hints of Undervaluation and Demand

Click here to view original web page at www.newsbtc.com
  • Ripple prices up 1.4 percent in last day
  • Remittance faster and cheaper in Ripple platform
  • Participation levels low as prices flat-line

The decentralization argument will continue as long as there are ardent supporters. Ripple Inc executives maintain their ledger is decentralized, but critics are not buying it. Regardless, Ripple (XRP) buyers are in control and likely to close higher by close of this week.

Ripple Price Analysis

Fundamentals

Like Bitcoin, Ripple is a third-party free remittance service. In a recent tweet, Pomp said Bitcoin as the first global payment option was faster and cheaper than competitors. Well, to some degree, that is true. Bitcoin may have a slower throughput than centralized alternatives but compensating that design choice is security, autonomy and most importantly, cost. MasterCard and Visa as competitors are way too expensive despite processing more transactions.

While Pomp has is opinions, tests reveal that Ripple as an alternative for banks and individuals is comparatively cheaper and faster. Besides the speed, their ledger, according to David Schwartz, is highly decentralized and through a proof of correctness system, most validators are under the control of third parties. Even so, Ripple Inc—an independent company owns a majority of XRP.

All the same, the decentralization argument will continue as long as Ripple Inc has control over the majority of XRP and Bitcoin hash rate be under the control of few mining pools. The main differentiator is the way Ripple Inc is forging on. By utilizing Codius and InterLedger Protocol, Forte will receive $100 million from Ripple as they seek to make inroads into the multi-billion-dollar gaming industry.

Candlestick Arrangement

Although Ripple (XRP) gains are miniscule, there are improvements. Already, the path of least resistance is evident. Because bulls have the upper hand, we expect demand to drive prices above 34 cents.

As mentioned in our last XRP/USD trade plans, it is after prices close above this buy trigger line or the 61.8 percent Fibonacci retracement level is when incoming Ripple (XRP) demand is likely to drive prices towards 40 cents as momentum build up.

So far, inactivity means prices are trading within a tight 4 cents trade range with firm supports at 30 cents. Also, with yesterday’s pin bar and failure of bears to drive prices lower, a breakout trade is highly likely.

Technical Indicators

Ripple (XRP) prices are calm. From an effort versus results analysis, price bursts above 34 cents is on the cards. Accompanying this gain should be high transaction volumes that must exceed 20 million and 61 million of Feb 24.

Tags: Forte, Ripple, xrp

Remittance faster and cheaper in Ripple platform

Participation levels low as prices flat-line The decentralization argument will continue […]

cinerama

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...
Share
Published by
cinerama

Recent Posts

Bitcoin {BTC} founder Satoshi Nakamoto will allegedly disclose his identity; Charlie Lee rejoices with regards to Bakkt launch

Satoshi Nakamoto was the man behind Bitcoin. His personal identity has remained secret for over a decade. Some believe that… Read More

2 hours ago

Crypto Community Reacts to Bakkt But Not all Are Bullish

The news that regulatory approval has finally been granted to Bakkt has generally been perceived as bullish for the industry.… Read More

2 hours ago

Bitcoin is not behaving like a safe-haven asset, says Ikigai founder Travis Kling

Kling doubts whether Bitcoin is ready to assume safe-haven responsibilities like its peers such as gold. Kling did note Bitcoin’s… Read More

2 hours ago

Istanbul Hard Fork: Ethereum Devs Agree to Make Six Different Code Changes

The developers of Ethereum (ETH), the world’s largest platform for building decentralized applications (dApps), have finalized six different codebase modifications… Read More

2 hours ago

Blockchain Voting System in Moscow Municipal Elections Vulnerable to Hacking: Research Report

A recent research report by a French cryptographer demonstrates that a blockchain voting framework utilized in Moscow’s municipal elections is… Read More

2 hours ago

What Would It Take To Build A World Without Globalists?

Authored by Brandon Smith via Alt-Market.com, You can bet that whenever you find people analyzing the root of a problem… Read More

8 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