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- Ripple (XRP) up 4.5%
- Critics say the room is too expensive
In third place, wave prices (XRP) are stable, bouncing back to 30 cents on the main support. Despite this, commentators say that there is an overvaluation despite the high net worth institutional investors channeling their funds in the first quarter of 2019.
Ripple price badysis
fundamentals
Admittedly, this space is sophisticated and, with a combination of start-ups, badysts, supporters, developers and speculators, navigation can seem daunting. At some point, Ripple Inc., the independent majority-owned company of XRP, must always explain its position. Although it is clear that institutions are flocking, buying the piece en mbade, the critics never give in, and on the Ripple Inc deal, regardless of the good news.
"While the price of XRP declined, the average daily volume of XRP was $ 595.28 million, which is comparable to the daily volume of XRP starting in the fourth quarter of 2018. In addition, the correlation of XRP with Other digital badets remained high throughout the quarter. "
A observer is of the opinion that the third most liquid coin in the world is too expensive for cash. As it stands, Ripple (XRP) is trading at 30 cents against the US dollar. However, he believes that if the XRP is a settlement coin, a liquidity provider that companies would use to convert FIAT without any incentive to keep it, the currency should trade below one cent. That is, if the coin dominated, first the trillion-dollar market, which is the most liquid market in the world.
"Why is the XRP too expensive? Assuming it is no. 1 use case is a settlement currency, and no one wants to keep the XRP longer than necessary to reduce the price risk, even a price of 0.0043 USD / XRP would be high enough to settle the entire foreign exchange volume of $ 5.1 trillion. per day."
Chandelier arrangement
After last week's collapse, Ripple (XRP) could be back on its feet. Although sales pressure is not as stable and firm in a shorter time frame, the tendency to return to the trend is on the rise.
Note that our initial position will not change. Despite the collapse of the market, we are bullish on the coin, and the April 25th correction closes below the lower BB and the undervaluation of the main support line confirms January 30 buyers.
In any case, we will be neutral until prices, after the reverse losses from April 24 to April 25, have been full with large transaction volumes in excess of 34 cents in a resumption phase. Prior to this, our XRP / USD business plan is correct.
Technical indicators
Our reference bar in light of recent activities is April 25th. It has high volumes of 34 million against 19 million. Despite the current bullishness, we need above-average volumes of more than $ 19 million to push prices above the April 24 highs to 32 cents and then to 34 cents before the risk-free traders can rush. Targets are at 40 cents and later at 60 cents by December 2018.
Chart courtesy of Trading View
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