When we look at the 1-hour chart, we can say 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.
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 News: XRP Transactions as a Mainstream Option
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
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. Source: Smartereum
What is Xpring?
Ripple has recently launched the fund transfer solutions called xRapid and xCurrent and now, Xpring. Aside from joining several corporate institutions and banks throughout the world. The banks that are using Ripple Net have adopted XRP to be their number one token of choice in sending faster cross-border payments. For those who don’t know, Xpring has the potential to increase XRP adoption in its ecosystem. The senior vice president at Ripple, Ethan Beard spoke regarding Xpring and said:
“With Xpring, we’re focused on the broader XRP ecosystem. Ripple, as a company, focuses on the Internet of Value – helping money move as easily as data. Our core business is ‘helping banks move money – mainly across the border’ and we’ve got great momentum there. At the same time, we think XRP and the XRP Ledger has a lot of use cases above and beyond what’s going on in the banking world. And so, with Xpring, we’re actually looking to identify, amplify, and help those projects take off and get off the board.”
The fact that most of the developments are focused on boosting the market value for XRP as a digital currency might see some benefits in the future. Source: Cryptodaily
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