Ripple XRP is bullish, but for buy trend continuation

Ripple XRP is bullish, but for buy trend continuation

Ripple XRP price is down 5.7 percent but flips ETH from second
Santander’s use of xCurrent has been beneficial
Bear trading volumes spike
Technically, Ripple XRP is bullish, but for buy trend continuation, prices must surge above 40 cents as reiterated in our last XRP/USD trade plans. At the moment, XRP sellers appear to be in control and the 5.7 percent drop could trigger dumps in days to come."Ripple XRP is bullish, but for buy trend continuation"

Ripple XRP is bullish, but for buy trend continuation

Ripple Price Analysis

Even at second, Ripple XRP bulls couldn’t stand the 45-minute flash crash. At spot XRP prices, the coin is down 5.7 percent but up the ranking order after flipping ETH to second. It is what XRP supporters want to see, and as long as it remains this way and ETH drop, the coin’s limited volatility—ETH is down 12.5 percent—will attract capital just like it did back in Nov 2018. However, although this bull squeeze could end up being a blessing for risk-averse traders, any drop below 34 cents and 30 cents could shift momentum from net bullish to bearish.

Ripple XRP Fundamentals

Estonia’s DX Cryptocurrency Exchange choice of digitizing some high-value NASDAQ’s stocks like Facebook, Apple and Tesla was a “proof of concept.” Because of this exchange, it is now possible to trade stock exchange market derivatives.XRP is available for trade. However, there are more opportunities now that BCG Group developers have made known their intentions of creating eMetals representing real-world assets as Gold or Silver secured by smart contracts and payable through cryptocurrencies.

Meanwhile, Santander’s One Pay FX exchange is proving to be cheaper and more efficient making the bank competitive. In a conference, the Ana Patricia Botín-Sanz, the Group Executive CEO of the bank said she the “devil is in the details,” and there has been real reciprocity because users can send and receive funds while on the go.

At present rates, XRP is the second most valuable coin the space with a market cap of $14.03 billion.  That is despite sinking 5.7 percent in the last day. From candlestick pattern arrangement, it is likely that bears will drive prices below Dec 28 lows of 34 cents.

Advising this is the increasing trading volumes—56 million. It is 10 million more volume than those of Dec 28 bull bar and although volumes are lower than that of Dec 24—123 million, the simple fact that volumes are above daily averages and accompanying trade volume range wider than usual after days of consolidation is negative for XRP’s value. If XRP prices drop below 34 cents, it is likely that sellers will drive Ripple XRP price towards 30 cents by mid-next week.

Technical Indicators

As aforementioned, bear volumes are increasing. After 13 days of consolidation, this high-volume flash crash may be an undesirable bearish breakout. However, XRP Price drops below 34 cents will reaffirm this stand.

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