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The market is in frank recovery 67% of the main currencies generating profits today
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XRP is one of the cryptos grabbing opportunities in the market as well as ETH and BTC
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The token is growing slowly when compared to others, but generating solid supports
In the midst of a frank recovery of the levels of Bitcoin and the market capitalization of the crypto ecosystem in general, the most important top ten coins are largely in the green today, thanks to the general buying feeling investors are showing in the middle of a successful ‘Black Friday’ that could further encourage prices.
Nevertheless, the projects are still yet to present advances close to 3 percent, but represent an excellent opportunity for entry, as it is the case for Ripple XRP token. In the long term, the price seems to be waiting for fresh capital into the market, which will make XRP recover lost levels and experience new highs.
At the time of writing, the XRP token trades at a spot price of $ 0.230528 USD (1.51%), with an estimated daily volume of more than USD 1.3 billion that keeps it in the third position of the general ranking.
At the moment, XRP remains above its support price $ 0.2187 USD, an important level to keep consolidating upwards and confirm the recovery of the price that the token has been shedding. In the 4H chart for the XRPUSD pair in Binance Exchange, asset recovery can be easily seen since the beginning of the week.
XRP has managed to project an ascending channel after managed to break the downtrend that saw it test levels below USD 0.20. Thanks to that wedge formed in the last week of November, the price seems to be running smoothly, and it is close to breaking its immediate resistance at USD 0.2343. Just this level is important because it could strengthen the XRP bullish rally towards the proposed target area.
To confirm this recovery pattern, we observe that Fibonacci recoil levels are coincident with the aforementioned bands. In that context, the wedge that has managed to stop the downward trend of XRP is still below the key level of 38.2% Fb to definitively break the current trend that allows it to position itself towards estimated bullish levels.
If XRP fails to break the area enclosed by the projection of immediate minimums and maximums, then the token could dangerously go back to a bearish zone located below the levels of 23.6% Fb, that is, at prices below the USD band 0.2243
Green Indicators
For the 4H graph of the XRP token, the indicators are optimistic for short and medium-term performance.
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The Aroon indicator shows its bullish signal at the top of the chart with its direct counterpart in the background, signaling the good moment for the token.
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The high purchase pressure is evidenced in the RSI indicator with values close to the overbought limit range, a sign of the price recovery is induced by investors.
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In the same context as before, the inflow of capital into the internal XRP market is evidenced by Chaikin Money Flow, which perfectly indicates the inflow of capital into XRP.
Fundamental News
The adoption around Ripple continues to grow. Recently in the Swell event held in Singapore, during a presentation by the company’s executives Ross Edwards and Kevin Mole, how the third-largest bank in Spain, the Caixa Bank, uses RippleNet payment solution to perform remittance operation.
#Ripple Swell 2019 they used Caixa Bank as an example in a demo. Caixa Bank sender – iRemit receiver 🧐
Caixa Bank is the third-largest bank in Spain after Banco Santander and BBVA (ripple partners already)
*As of march 31, 2019 total assets Caixa Bank $404.1 billion + pic.twitter.com/zwPzmSWft1
— ༜༝🅂🅃🅄🄰🅁🅃🅇🅁🄿💧⚡ (@xrp_stuart) November 28, 2019
In the year 2019, more than 300 clients are under the belt of RippleNet payment solutions, such as ODL (On-Demand Liquidity) which is currently used by Money Gram globally and by Bitso for sending remittances between Mexico and the United States.
In that same context of positive news, Weiss Rating recently recognized Ripple’s ODL and XRP tools as a powerful solution to build a better remittance system worldwide.
#Ripple intends to use #XRP to fuel a global remittance replacement system called On-Demand Liquidity, which would deploy the token to create a $2 trillion pool of liquidity to help overcome issues plaguing the global remittance system.
— Weiss Crypto Ratings (@WeissCrypto) November 27, 2019
Without a doubt, these facts are fundamental reasons to believe the immediate future of Ripple and its XRP token will be possible positive.
