Ripple Labs Working to Make XRP Token Easily Acceptable By Merchants

Ripple joins Blockchain Capital VC Fund with XRP investment worth $25 million price

XRPL Labs reportedly wants to ensure that the process of accepting XRP transactions as a mainstream option is easier for merchants. In a bid to make this dream a reality, the digital asset company has created a payments application. This app will act as the transition in a point-of-sale system.

It is clear that there’s a prototype system of this model running. The project’s title is XRPay, with some modifications expected once it has been launched.

XRP (XRP) Price Today – XRP / USD

# Name Price24H %
3
ripple
XRP(XRP)
$0.267
2.11%

The XRPL Labs Initiative has Been Backed By Ripple’s Fundraising Arm Xpring

Xpring is the fundraising and development arm of Ripple and is a backer of the work carried out by XRPL Labs. The sum contributed to this initiative hasn’t been released yet, though it was given in XRP in a bid to push the work of the company forward by three years. The new solution offered by XRPL Labs will definitely have an impact on the XRP price prediction 2019.

XRP Bullish in XRP Price Prediction 2019

It should be recalled that after trade last week the XRP price was seen in the bullish zone. During that time the bulls tested the $0.32 price position which is a resistance level. Eventually, the same position was resisted. The price of the cryptocurrency fell and broke beneath the 12-day EMA and 26-day EMA.

This led to prices reaching the bearish atmosphere. Today, the price of XRP is at $0.31 as of the time this report was published as per data provided by CoinMarketCap. This was the price position at which the XRP token was in last week before the bullish momentum was initiated allowing its price to be resisted at $0.32.

The $0.32 price position was actually a strong resistance area. Looking at the upside, should there be a price break, the bulls will move towards the $0.32 and $0.33 price positions to reach a $0.34 high. Looking at the other hand, should the bulls be resisted, the digital asset will fall to the EMA support area. Meanwhile, the XRP price is above both EMAs which simply indicates prices are bullish. The MACD and signal line are both above the zero line. This is a buy signal.

XRP is Bullish on the Short-term in XRP Price Prediction 2019

Looking at the 1-hour chart, we can that the XRP price has entered a bullish pattern. The previous week, the bulls tested and retested the $0.32 and $0.31 price levels. Eventually, the price of the digital asset fell under the 12-day EMA and 26-day EMA. It also caused a range bound movement below both EMAs.

Today, the price of the third largest digital currency by market capitalization is making several higher highs and lows. The XRP price will rise until it tests the $0.32 price range. Meanwhile, the price of the digital asset is above both EMAs which indicates that XRP’s price is moving on a bullish trend zone. We can also see the MACD line and the signal line above the zero pattern. This is a strong indication of a buy signal.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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