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- Unfavorable Ripple (XRP), down 7.7%
- XRP based ETP launched
European investors are determined to access the XRP in a controlled manner as the Nordic Growth Market (NGM) launches FTEs based on the LTC and XRP. At the same time, Banco Santander will spend $ 22 billion on One Pay FX over the next four years. Meanwhile, the XRP is up, but prices are down and could fall to 32 cents.
Ripple price badysis
fundamentals
Traders with access to the Nordic Growth Market (NGM) will now have access to Exchange Traded (ETP) products based on the digital XRP following the launch of new products based on two digital badets, XRP and LTC. Nordic Growth Market is the second biggest stock exchange in Germany. Therefore, the addition of an XRP-based FTE will have a considerable impact on the adoption of the third most valuable digital badet. Nordic Growth Market will ensure that these investors have access to the badets in a regulated manner.
The first ever Exchange Traded ETP (XRP) is currently live on the SIX Swiss Exchange, as they had previously announced! No delay here, exactly at the time, like on Swiss wheels ?Congratz to SIX! Https: //t.co/gqI0vrhAzo pic.twitter.com/xmW8THQOlL
– Crypto couple (@coupleofcrypto) April 2, 2019
Ripple is also expected to grow after Banco Santander announced plans to spend $ 22 billion on digital in the next four years. In its announcement, the bank said that One Pay FX, powered by RippleNet, would benefit from this fund. The bank aims to improve its real-time payment system several days after announcing a growth of 230%.
February 2019.@bancosantander Annual Report for the 2018 Fiscal Year:
One Pay FX recorded a 230% growth in monthly volumes from May to December 2018.
Kudos at the @Ripple team!#RunsOnRipple
Source: https: //t.co/Izvq3XROTt@Hodor @haydentiff @BankXRP @sentosumosaba @tenitoshi pic.twitter.com/iIOnYnixsf
– XRP Research Center (@XrpCenter) March 22, 2019
Chandelier arrangement
Ripple (XRP) strives with favorable fundamentals and a favorable candlestick scheme. At the spot rate, the XRP is ranked third with a market capitalization of $ 13,919 million after adding 7.6% in the last week.
However, with an excessive extension after yesterday's closure, XRP prices are down 7.7% on the last day. But it was planned. As we mentioned earlier, the rally on April 2 awoke the bulls, but it caused an overvaluation. With the dynamics of supply and demand at work, we expect the XRP to be valued equitably, which means an additional liquidation of the cards.
Despite this development, our XRP / USD business plan is firm and the trend is already defined. Buyers have control and market entry opportunities are better in the short term, now that XRP prices will likely drop to 32 cents or the 78.2% Fibonacci retracement level, the lowest ever. After that, it will probably take a few days before the bulls resume their trend, re-testing the 37 cents and eventually exceeding 40 cents in a continuation phase of the typical trend of breakouts.
Technical indicators
Meanwhile, volumes are rising, leading to higher prices. Although April 3 volumes were above average but bearish, the sellers failed to push down prices, reversing April 2 gains. Now that Ripple (XRP) is in a bullish uptrend, any wide bar with high volumes at prices above 34 cents could ignite a stake that will further fuel XRP's demand.
Chart courtesy of Trading View
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