Ripple is already the third largest cryptocurrency in the world. It is a technology that allows much cheaper interbank transactions. In just 7 days, Rripple grew by almost 60 percent. Where does this change come from?
Ripple is a technology for bank settlements and financial institutions that allows interaction without a central control center and intermediaries. - This allows them to cut costs as much as possible, which is in a sense a revolution for this sector - explains Brian Evans, head of consulting company BDE Ventures and man No. 7 on the list of the largest market influencers according to "Forbes". At the moment when the transaction parties operate in different currencies, Ripple can also perform a settlement function in the form of a Ripple token (XRP).
Ripple's market capitalization grew from 15 billion to over 60 billion dollars. in just three weeks.
Where did such increases come from? Several industry reports contributed to this. First of all, according to several sources, virtual tokens are to be added to the Coinbase offer - the largest cryptocurrency platform in the US. This may help in popularizing Ripple, although at the moment the Coinbase exchange has not yet confirmed these reports.
Secondly, several large banks in Japan and South Korea recently carried out tests related to the payment using Ripple.
TECHNICAL ANALYSIS:
The price of the Ripple XRPUSD cryptocurrency started like a rocket from level 1.0000 and so far no reason for the upward trend to be reversed. Wave 3 pulse reached the level of 161% Fibo, which is a typical range for this wave, and falls on the level of 1.65. For smaller, internal subwaves, successive target levels are 1.75 - 1.84, however, they will be achieved after wave 4 correction, which may go down to 1.35 before the upward trend continues.
Weekly time frame Elliott Waves Analysis:
Main trend: UP
Intermediate trend: UP
Daily trend: UP/ NEUTRAL (correction pending)
Key levels:
- for further gains - the level of $ 1.65 and later $ 1.75.
- for a continuation of the correction - the level of $ 1.35 and later $ 1.25
- for the continuation of decreases - the level of $ 1.25 and later $ 0.70
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PPS: The next analysis of the Ripple cryptocurrencies will be published if this post receives a min. 50 likes. :)
Good luck! :)
Ripple is a technology for bank settlements and financial institutions that allows interaction without a central control center and intermediaries. - This allows them to cut costs as much as possible, which is in a sense a revolution for this sector - explains Brian Evans, head of consulting company BDE Ventures and man No. 7 on the list of the largest market influencers according to "Forbes". At the moment when the transaction parties operate in different currencies, Ripple can also perform a settlement function in the form of a Ripple token (XRP).
Ripple's market capitalization grew from 15 billion to over 60 billion dollars. in just three weeks.
Where did such increases come from? Several industry reports contributed to this. First of all, according to several sources, virtual tokens are to be added to the Coinbase offer - the largest cryptocurrency platform in the US. This may help in popularizing Ripple, although at the moment the Coinbase exchange has not yet confirmed these reports.
Secondly, several large banks in Japan and South Korea recently carried out tests related to the payment using Ripple.
TECHNICAL ANALYSIS:
The price of the Ripple XRPUSD cryptocurrency started like a rocket from level 1.0000 and so far no reason for the upward trend to be reversed. Wave 3 pulse reached the level of 161% Fibo, which is a typical range for this wave, and falls on the level of 1.65. For smaller, internal subwaves, successive target levels are 1.75 - 1.84, however, they will be achieved after wave 4 correction, which may go down to 1.35 before the upward trend continues.
Weekly time frame Elliott Waves Analysis:
Main trend: UP
Intermediate trend: UP
Daily trend: UP/ NEUTRAL (correction pending)
Key levels:
- for further gains - the level of $ 1.65 and later $ 1.75.
- for a continuation of the correction - the level of $ 1.35 and later $ 1.25
- for the continuation of decreases - the level of $ 1.25 and later $ 0.70
PS: Follow me please! :)
PPS: The next analysis of the Ripple cryptocurrencies will be published if this post receives a min. 50 likes. :)
Good luck! :)
