- Ripple (XRP) retesting 40 cents, stable in the last day
- Change of leadership at the ECB could support Ripple and blockchain in general
Christine Lagarde took over from Mario Draghi as head of the ECB. As a blockchain and crypto believer, her entry is significant. On several occasions, she has been cited in front of several DLT technologies, including Ripples.
Ripple Price Analysis
Good news is, Christine Lagarde, CEO of the IMF, will take over from Mario Draghi. While Mario did a lot for the scary European economy, the introduction of Christine is a new breath of air. Particularly important for the crypto community, blockchain as an emerging and disturbing technology will become more visible during its time. It's easy to see why.
Aside from being one of the best brasses that obviously recognizes crypto and blockchain, she is particularly concerned with Ripple and related products. Although she speaks for proper rules, labeling appropriate laws as a "bar," is her support and enthusiasm for Ripple bullish for XRP. In several cases, she has been quoted and asks banks to innovate or die from the power of Ripple and Circle.
Furthermore, the fact that Ripple's management is the globe with friends in high places like the White House helps in their agenda. Formerly, former Chief Marketing Strategist, Cory Johnson, said that Ripple is in constant communication with Trump management officials.
Nevertheless, Ripple's goal is not to compete with SWIFT. The latter is the market leader with over 1
At the time of writing, XRP responds from 40 cents. From the candlestick arrangement, the level is a significant support level now, as the XRP is within a bullish break pattern against the USD.
If anything, buyers are in control. The short-to-medium-term path is, however, mainly dependent on buyers. Should they build sufficient momentum and rally past 50 cents in the back of high trading volumes, the XRP prices will probably increase to 80 cents.
On the other hand, losses below 34 cents spell doom for XRP holders. Not only will it shake out day traders, but such a shock will probably trigger panic, selling in the first quarter of 2010 30 cents primary support. Unexpectedly, but not impaired, such deep losses will interrupt this projection.
Anchoring this trading plan is June 22 candlestick. With high trading volumes of $ 113 million, a reversal of June 27, loss signals of bulls, should be at the back of high participation over $ 113 million and $ 20 million on average. Similarly, sales of under 40 cents of cancellable buyers in mid-May should be with high trading volumes confirming bears at the end of June 2019.
Chart with permission for Trading View. Image Courtesy of Shutterstock