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Ripple Price Analysis: XRP Accumulation, Bull Pressure Building Up

  • Ripple prices stable above 30 cents
  • SWIFT—Ripple competition should heat up in coming days
  • Transactional volumes low and dropping

XRP success depends on adoption. That’s why an increase in xRapid users is bullish for investors. Even still, the slide of XRP prices have been deflating, and after 12 months of lower lows, we expect Sep 2018 to guide medium to long term price trajectory.

Ripple Price Analysis

Fundamentals

As long as SWIFT dominates, we expect determined competitors to step up their marketing, pitch to potential clients—mostly in areas where most are unbanked and without access to financial services. Such has been the effort of Ripple.

With three main products—xCurrent, xVia, and xRapid, we can conclusively say they have been largely successful. However, they still have a long way to go. As a ledger that caters explicitly for financial institutions, the only way average investors will reap benefits is when majority banks incorporate Ripple’s technologies and adopt xRapid.

The latter is a solution that guarantees speed, efficiency and cost saving made possible because it uses XRP as a liquidity tool. Thus far, 13 companies are benefiting from xRapid, but 13 is a mere drop in a cross border global payment system estimated to move $2 trillion by 2020. Should Ripple win over clients and there is regulatory clarity around XRP and xRapid, we expect demand to surge, lifting prices with it.

Candlestick Arrangements

Ripple

At the time of press, XRP was up 1.2 percent from yesterday’s close, exchanging hands at around 32 cents against the USD. Considering yesterday’s price sinks, this is positive and cements our previous assertions.

However, conservative as well as aggressive traders ought to be on the sidelines until after our trading conditions are valid. Because we are net bullish with guidance from Sep 2018 surges, a safe approach is to wait until clear price swings are driving XRP above 34 cents.

A simple Fibonacci retracement between Dec 2018 high low places this buy trigger line at the 50 percent level. That’s above Jan 20 highs meaning for the first wave of higher highs to hold then buyers must reverse yesterday’s losses preferably at the back of above average trade volumes—above 24 million.

After that, the foundation for further gains towards 40 cents would be firm and conservative traders would be anticipating possible rallies towards Dec 2018 highs of 60 cents.

Technical Indicators

From a conservative approach, traders and investors would be tracking XRP buyers’ ability to reverse yesterdays and Jan 10 losses. With volumes of 83 million against 30 million averages, a bull buildup is necessary. To reiterate our stand, any volume surge driving prices above 34 cents (or below 30 cents) should exceed 24 million and ideally 83 million confirming demand or supply depending on breakout direction.

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Tron Price Analysis: TRX Underperforming 24 Hours After NiTron

  • Tron price drops 2.1 percent in the last day
  • Trust Wallet will facilitate BTT airdrop
  • Average daily transaction volumes steady at 29 million

A day after NiTron is down 2.1 percent and underperforming against BTC. Nonetheless, TRX bulls are in charge, and we expect TRX prices to re-test 4 cents by the end of Jan 2019.

Tron Price Analysis

Fundamentals

Right off NiTron and it’s clear that the team behind TRX and Tron as a smart contracting platform and Ethereum’s competitor is not short of ambition. The general theme at the Summit was to update enthusiasts as well as investors of what’s transpired in the last few months.

Apart from that, it was also a perfect arena for Justin Sun and the Foundation to showcase to potential partners and businesses why Tron is an ideal choice. While critics are opposed to Kobe Bryant invitation saying he adds nothing substantial in the space, he remains a brand.

Furthermore, as a world’s renowned athlete, he can as well promote TRX, but that will contravene SEC’s calls and a brush with the law will be a stain that Tron and TRX won’t bear as the market tries to make turnarounds. All the same, news is that Trust Wallet will facilitate BitTorrent’s BTT airdrop. However, we are yet to know the ratio and whether TRX holders at exchanges will be beneficiaries.

Candlestick Arrangement

Tron

Price wise and TRX’s performance has been dismal in the last 24 hours. Even though it is one of the strongest performers in the top ten, it is down 2.1 percent in the previous day. All the same, prices are trending above the 2.5 cents support previous resistance level meaning our previous TRX/USD trade plans are valid. It’s easy to see why.

First of all, note that buyers are in control and as breakout patterns dictate, a correction retesting previous resistance now support often follows after the initial surge in a retest phase. We saw this on Jan 10 through to 13 and with a double bar bull reversal pattern ejecting further losses, the third stage, the trend resumption phase, is on course. It is for this reason that we expect TRX prices to rally towards 4 cents.

As a result, in days to come, every dip should be a buying opportunity with fitting stops at Jan 14 lows of 2.1 cents.

Technical Indicators

Despite TRX trading within tight ranges, averages stand at around 29 million. They have been decreasing since Jan 10 vertical drops, but we expect prices to pick up as participation levels increase. Ideal volumes lifting prices above Jan 10 highs should exceed Jan 14’s 50 million as well as 95 million.

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Ripple Price Analysis: XRP Consolidates For the Eighth Straight Day

  • Ripple prices in a 2 cents trade range below 34 cents
  • Mercury FX demonstrates the power of XRP
  • Prices ranging as daily average trading volumes drop t0 23 million—streams from BitFinex

Although the path of least resistance ought to be northwards, sellers are currently pinning down bulls. Nonetheless, our XRP/USD trade plan is upbeat, and with Mercury FX moving huge sums from the UK to Mexico using XRP, it seems like we are on the early stages of widespread adoption.

Fundamentals

Today marks the seventh day of an energy-sapping consolidation that began after Jan 10 sharp falls. All the same, with last year value erosion, investors, as well as the trading community, believe the market might be making a turnaround. It’s pretty ambitious, but the mere fact that prices are finding resistance for further upsides could wear off demand allowing bears to pick up in line with Jan 10 trend direction.

At the moment, we are closely watching how adoption is picking up. And propping investors’ bullish projections is news that Mercury FX used XRP to move$4,552.41–helping the client, Mustard Foods, save $90 and 31 hours—from the UK to Mexico. The seamless and near instantaneous flow demonstrated in real time the capabilities of XRP and what adopting companies set to benefit should they ditch traditional systems characterized by latency and high costs.

Candlestick Arrangements

Ripple

Back to the chart and XRP is struggling. Not only are prices accumulating within a 2 cents range with caps at 34 cents but from an effort versus result approach, bulls are in charge since prices are within Jan 14 high low. Regardless, we shall not recommend immediate buys at spot rates not until XRP bulls drive prices above 34 cents—a level that also doubles up as the 50 percent Fibonacci retracement level.

Our long-term bullish stance is still valid as long as spot prices are maintained above 30 cents and most importantly from 25 cents—which mark Sep 2018 lows. If anything, the monthly bull bar will always define the long-term trajectory of this coin, and unless otherwise there are rapid drawdown, it is likely that prices will expand to 60 cents—Dec 2018 highs and later 80 cents subject to a high-volume, ecstatic break and close above 40 cents or the 61.8 percent Fibonacci retracement level off Sep 2018 high-low.

Technical Indicators

Transaction volumes are low, and perhaps this could explain tight ranges inside Jan 14 high low. Though sellers may have the upper hand in the short-term, rejection of lower lows and subsequent rally from 30 cents to above 35 cents and even 50 cents should be at the back of high trade volumes exceeding 83 million on the upper end and daily averages of 23 million.

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Ripple Price Analysis: XRP Demand Builds Up in Lower Time Frames

  • Ripple price stable above 30 cents
  • Ryan Zagone concludes lack of regulatory clarity impedes institutional adoption
  • Average volumes decrease from 30 million to 24 million in three days

Technically, XRP is bullish above 30 cents and 25 cents. As such, as long as prices accumulate above 30 cents, we expect a breakout lifting price above 35 cents to 40 cents in the next few days.

Ripple Price Analysis

Fundamentals

Strides are being made, and one of them is the Euro Exim bank decision to integrate xRapid. While it is good news as it is the first bank ever to see the advantages of XRP and xRapid, we shouldn’t be ahead of ourselves.

Euro Exim though a bank with “”Class A” international banking license from Financial Services Regulatory Authority (FSRA) of St. Lucia” and practice “due diligence, full compliance and operational excellence” in all their process is a small financial institution with net assets of £511K, debt of £180.2K and a liquidity ratio of 1.38. As a small company, it employs 5-9 people and is roughly seven years old, found on Feb 7, 2011.

Candlestick Arrangements

Ripple

All the same, markets are scant, and with declining volumes, XRP/USD price action is mostly consolidating within tight trade ranges. As a result, our last XRP/USD trade plan is valid, and still, we maintain our position that as long as prices are trending above 30 cents, bulls have a chance.

Note that despite steep losses of Jan 10, sellers are yet to press lower and with each passing day of low volatility and consolidation, there are high chances that prices will explode. Because of our stance, we expect bulls to edge higher, print above 34 cents and later 40 cents complete with abnormal volumes.

Only then—when XRP prices are trending above the 61.8 percent Fibonacci retracement level, will buyers fine-tune entries in lower time frames with modest targets at 60 cents. Meanwhile, there is an opportunity for aggressive traders to profit. Once prices rally above Jan 14 highs or the 50 percent Fibonacci level of Dec 2018 high low at 35 cents, traders should aim at 40-42 cents with tight stops at 31 cents.

Technical Indicators

Volumes are low. For our trade conditions to be valid, then there should be a sharp spike in market participation levels above current averages of 24 million.

Perfect volumes lifting prices from spot rates to above 35 cents should exceed Jan 14’s 83 million or at least double current volumes—24 million.

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Bitcoin Price Analysis: BTC Unchanged as Volatility Taper

  • Bitcoin Price trading range tight
  • Bulgaria’s NRA introduces a 10 percent tax on crypto profits
  • Transaction volumes low as BTC/USD range within Jan 14 high-low

Candlestick arrangement favors bulls. However, as the government opens up, we recommend patience until after Bitcoin prices rally above $4,500 in line with our last BTC/USD trade plan.

Bitcoin Price Analysis

Fundamentals

The thing is, governments irrespective of jurisdiction won’t budge and will see towards enforcement of their initiatives. Under the guise of investor protection–whereas the so-called investors are on average tech savvy with full control of their funds, the government will always advance their causes regardless of resistance.

The market is steadying, and accompanying volatility means levies imposed on businesses or individuals would further cause imbalance. On average, BTC prices move sway roughly eight percent, which is huge more so when compared to fluid and highly liquid markets as Forex. However, what’s of concern is the drop from $6,000 to $3,500 in a record two months.

That’s a 55 percent drop which makes it unrealistic for crypto traders and investors in Bulgaria via National Revenue Agency (NRA) to pay for a 10 percent tax on their profits. The best approach is iron out difference ensuring that policies adopted satisfy governments as well as industry’s stakeholders.

Candlestick Arrangements

Bitcoin

BTC is virtually unmoved in the last day. Everything else constant, this is bullish, and we expect Bitcoin bulls to find support in days ahead. Note that while bears may be on top from a top-down approach, candlestick formation points to bulls in the short to medium-term.

It’s easy to see why. When we paste a simple Fibonacci retracement tool from Dec 2018 high low, bulls appear to find support from the 50 to 61.8 percent Fibonacci retracement level. Besides, the double bar bull reversal pattern of Jan 14 anchors bulls, confining price action of the last few days.

Overly, we expect BTC to edge higher. Ideally gains above $4,500 would pave the way for a possible rally towards $5,800–$6,000 resistance as our trading conditions as stated in previous BTC/USD trade plans are met.

Technical Indicators

Like yesterday, trade volumes are thin. As prices struggle at Dec 28 lows, we need hints of participation before execution. One of them will be a spike in transaction activity. If prices rally above $4,000 confirming the double bar bull reversal pattern of Jan 13-14, then accompanying transactional volumes should be above 17k. Most importantly it should be above 35k eclipsing those of Jan 10.