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Predrag V

Ripple

Question

I wanted to invest in XRP but I would like to hear your assessment of this digital coin in the first place. Where do you see XRP trading before the end of this year?


 

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Hi Predrag, thanks for the question. 

Ripple has been struggling lately. I’ve been following its performance in the past few weeks and it seems that the coin is fighting to stay above $0.20, after a break of the 100-DMA. XRP/USD has been wrestling the 100-DMA for the past two weeks. The break of the $0.2150 horizontal support has generated additional selling interest and the buyers are now struggling to keep its head above the psychologically-important $0.20 level. 

Even if the bulls push the price action above $0.20, a confluence of resistance is located just above the $0.21 mark. Looking lower, the buyers are hoping that strong support at $0.1750 will help them build a base to try and push the action higher in the coming weeks.

Looking more long-term, I see the entire crypto market trading in a range at levels similar to one we have seen lately. 


 

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Posted (edited)

This is a great question. There is a lot of speculation about this asset. There are many different things when looking at any asset, one can look at the charting and behaviors. If you were to follow the simple charts I agree with the reply above. If you were to look into the utility of this asset, what it’s there for, and what it does I would be very confident that you would see incredible value. Look into ripple/XRP partnerships and who uses them as well. There are a lot of things currently happening behind the scenes, like we know they are looking to replace payment systems to make them more efficient  and cheaper and XRP does exactly that. 
 

Here is a article- https://www.google.com/amp/s/dailyhodl.com/2020/05/14/xrp-can-replace-cross-border-behemoth-swift-says-ripple-founder-chris-larsen/amp/

 

here is a video which gives you really in depth overview of ripple/XRP.      
https://youtu.be/AYrGqXXygj0
 

Will it be used? 
if it will, will the price go up?

of course I hope all this happens and comes true but you never know. 





 

Edited by Xrpistheoneandonly

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Hi Predrag, thanks for coming here.

Bloomberg broke the news that Western Union is looking to acquire MoneyGram, which may have an impact on Ripple, given that it owns a 9.95% stake in MoneyGram. If completed, this deal is likely to be supportive of the Ripple price. 

The two-year strategic business deal between Ripple and MoneyGram was signed in June 2019. Under the terms of this agreement, Ripple will pay in total $50 million to MoneyGram in installments in exchange for a 9.95% stake. Judging by some comments made by MoneyGram’s CEO, Ripple isn’t really utilizing the partnership. 

“I would say it was a little bit of a relatively quiet quarter, in the sense of really pushing anything particularly new into the market or expanding the service. We continue to flex with them as they continue to expand the service and move some things around, and really figure out what they want, the product to look and feel like, and how they want to take that to various markets. So I think it’ll change over time. I think the results of what we’re doing will vary by quarter and by month,” said MoneyGram’s CEO Holmes. 

Hence, let’s pay attention to see what happens to this deal. I believe that there’s a room for the upside move in Ripple, especially if it turns out that Ripple made a profit out of the investment in MoneyGram.


 

 

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Hi,
 

Ripple refers to a technology that serves as both a cryptocurrency and a digital payment platform used for financial transactions. Currently, Ripple is the 4th largest digital currency by market cap.

Ripple differs from other cryptocurrencies in a way that it doesn’t move against the current financial system which involves banks and governments. Moreover, Ripple is attempting to become a part of this system. 

When it was first launched in 2012, Ripple looked very promising. The platform recently announced that it has formed agreements with more than 300 banks and financial institutions. Some of the notable partners include Euro Exim Bank, Barclays, HSBC, Accenture, MoneyGram, JNFX, FTCS, BFC Bahrain, ConnectPay, Ahli Bank of Kuwait, Transpaygo, GMT and WorldCom Finance.

When it comes to the future of Ripple, the opinions are divided. Some of the analysts strongly believe that Ripple will move up over the next few years, while others predict a major decline.

Financial behemoths like JPMorgan are developing their own digital assets which will allegedly be very similar to Ripple. This could turn out very bad for Ripple, however, the bad outcome could be avoided if Ripple starts presenting XRP not only as a payment method but also as an investment tool.

“I don’t think about the price of XRP in the short-term. I think if we can enable XRP to be the most efficient in terms of the speed of a transaction and the cost of a transaction, more and more people will use it,” said the CEO of Ripple, Brad Garlinghouse.

A popular community of investors and analysts, Crypto Rand, thinks that if XRP manages to break the current price range of $0.30-$0.31, the coin’s price will likely skyrocket. 

However, as I said, there are also those who think very differently.
 

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Hello Predrag,

Will Meade, a former employee of investment banking company Goldman Sachs, said he believes that Ripple (XRP), Bitcoin and Ethereum will reach their all-time highs in the future. Meade said he expects XRP to rally as much as 1500%. 

“I made my first crypto purchase ever this week $XRP Ripple I know very little about crypto but I believe a rising tide lifts all boats, so if Bitcoin goes back to its all-time highs then XRP should as well and that would be a 15 bagger 1500%,” Meade said.

In addition, legendary trader Peter Brandt also said that he’s optimistic about XRP’s future, despite the fact that the cryptocurrency was one of the worst-performing assets last year, losing around 56%.

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Hi,

Ripple (XRP) has been trading under pressure in recent days, with the coin hovering around 0.2050, down 2%. Price of XRP climbed this week following the U.S. Office of the Comptroller of the Currency (OCC)’s publication of a letter that will modify the policy of secure custody services for cryptocurrencies. 

The letter was published on July 22, and from now on, all licensed banks in the United States will be able to offer custodial services for cryptocurrencies. Before this, banks that wished to provide such services had to obtain a license. This is huge news for Bitcoin, Ethereum and Ripple in terms of crypto adoption. 

The letter was written by Jonathan Gould, Senior Deputy Comptroller and Senior Counsel. Gould wrote that all licensed banks in the country are now permitted to hold and control the cryptographic keys for wallets for its clients.

“The OCC recognizes that, as the financial markets become increasingly technological, there will likely be increasing need for banks and other service providers to leverage new technology and innovative ways to provide traditional services on behalf of customers,” the letter says.
 

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