Categories: Altcoins

XRP Price Analysis and Prediction for August 13th – Ripple and MoneyGram Will Beat Libra by Facebook

Click here to view original web page at themerkle.com

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

Presently, the XRP cryptocurrency is the third one on the market in terms of capitalization, which is $12.8 billion. The XRP is currently trading at $0.2975. Unfortunately, this digital asset has been declining recently, testing local minimums, as well as other altcoins.

Anyway, Ripple has become a partner of MoneyGram, investing $30 million in the second-largest company in the field of money transmissions. The blockchain company is planning to invest $20 million more in the upcoming two years. Such cooperation may become a good help to the digital asset, so that the quotations may bounce off the nearest support level.

MoneyGram, in its turn, started using xRapid by Ripple, which received necessary liquidity, on August 3rd. Use of this product is the main condition of the bargain for $30 million. XRapid uses the XRP token for instant calculation of money.

According to the Ripple CEO Brad Garlinghouse, the company paid quite a high price for this bargain; however, in the long run, such cooperation may become much more important for the crypto community, than the Libra project of Facebook. The quotations of MoneyGram stocks have been falling momentarily by 80% to $1.39 from April to June 2019; nonetheless, since the start of cooperation with Ripple the quotations has been growing, the stock price at the moment reaching $3.88.

Anyway, partnership with MoneyGram is one of the quality ways of using the digital asset, which may influence positively the final price of the XRP; what is more, the company keeps signing contracts with various financial enterprises.

Ripple’s Xrp daily price chart 8/13/19

On D1, the quotations of the XRP remain inside the skewed triangle and are testing the support line. As long as the long-term tendency remains descending, the currency is going to keep declining, but only upon breaking through the support line and securing below it. The goal of the descending is near $0.1600. The declining dynamics of the MACD confirms the overall falling. However, if the bulls recover their spirits and decide to buy the cryptocurrency, a bounce to the resistance at $0.4348 may follow.

Ripple’s XRP H4 price chart for August 13th, 2019

On H4 chart of the XRPUSD, the market has formed a short-term descending channel inside a mid-term one. Such a picture suggests subsequent breakaway of the minimum at $0.2894 and a decline to $0.2700. However, until a black cross on the Stochastic is formed, a breakaway of the local resistance and a rise to $0.3220 should not be excluded.

Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Image(s): Shutterstock.com

Presently, the XRP cryptocurrency is the third one on the market in terms of capitalization, which is $12.8 billion. The XRP […]

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

Luongo: Trump’s Not A 4-D Chess-Player, He’s A Very Simple Creature

Authored by Tom Luongo, Friday night used to be the ‘best night on television.’ But today Friday afternoon is becoming… Read More

5 hours ago

Overstock Still Focusing on Crypto Despite Embattled CEO’s Departure

Overstock was one of the first major companies that expressed extreme interest in utilizing and adopting crypto – an interest… Read More

5 hours ago

Symmetrical Triangle Pattern May Bolster Bitcoin Bulls

Over the past couple of days Bitcoin has found itself caught within a relatively tight trading range and has continued… Read More

5 hours ago

Overstock’s Patrick Byrne: the rise and fall of a blockchain pioneer

Patrick Byrne this week resigned as CEO of US online retailer Overstock. The move closely followed the announcement of disappointing… Read More

5 hours ago

Ethereum & Stellar’s Lumen Tech Analysis –26/08/19

It’s a bullish start to the day for the majors. Holding above key levels would support another breakout later in… Read More

5 hours ago

New tool for OTC trade is based on Ethereum smart contracts

Source: Wikimedia The decentralized platform AirSwap, a trade network driven by the Ethereum platform, launched a tool, called AirSwap Trader,… Read More

5 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