About Ripple (XRP), we know that many people criticize the fact of being similar to a centralized project and thought exclusively to solve the
expensive international banking transactions’ problem.
Which ones current factors are that make ripple (xrp) a good long-term investment?
1. XRP More Popular Than Bitcoin, Ethereum and Amazon on Leading Crypto Trading Platform
Traders on social trading platform eToro say XRP is the most frequently traded cryptocurrency by unique open trades. Its January report shows that XRP also trades ahead of Amazon, and follows closely behind oil, gold, Apple and the NSDQ100 as reported the dailyhodl.com.
Dapp Life highlights eToro’s insights indicating that XRP contributed to 29,991 unique open trades. Bitcoin open trades totaled 26,773 and Ethereum open trades followed with 25,148 as said dapplife.com.
2. Ripple (XRP) RLX indices on Nasdaq are in sight
Ripple has enjoyed a deluge of positive news over the past few days, while its XRP cryptocurrency token has been duking it out with Ethereum and Bitcoin to claim its listing spot on Nasdaq, as related the dapplife.com
XRP is fighting it out with Bitcoin and Ethereum to claim its spot on the Nasdaq’s platform, said the Brave New Coin report. The report read:“BNC is in the final stages of producing the RLX (Ripple Liquid Index) and is working with a range of market participants to create custom basket indices. XRP was today listed on Coinbase Pro, which many view as a form of institutional endorsement for the asset as Coinbase Pro is a leading global exchange that serves high-end traders and investors”.
3. The Future for XRP is “Rocket”
Regarding the transactions, on January 29, 2019, XRP reached 875 057 transactions as reported cryptovibes.com. The number is quite impressive and it brings the XRP transaction number sentiment back to September 21, 2018. Back then XRP performed 842 697 transactions.
A growing number of major banks have sought out the Ripple blockchain to be incorporated in their systems, to enhance efficiency and make the network more secure. With such growing demand for Ripple’s blockchain, XRP’s price is also expected to surge. The digital currency can get transacted with speeds of up to 1,500 transactions per second compared to Bitcoin’s 7 transactions per second speed.
3.1. The Incentive Program – $300M to Grow Volume and XRP Utility
In addition, cryptovibes.com has reported that Ripple has recently been working quietly trying to expand its network of partners to accelerate the usage and adoption of its token, XRP. It invested $300 million in a RippleNet accelerator program that provides financial incentives to various institutions that promote the usage of the Ripple payments system. The company took around $300 million in XRP from its holdings to fund the accelerator program.
4. Japanese Banks set to Massively Adopt XRP by 2025 – SBI CEO
Ripple (XRP) has just surfaced as the CEO of financial services company and Ripple’s long term partner SBI Holdings (SBI), intends to bring XRP usage to major banks in Japan as was written on the zycrypto.com.
As the SBI plans to launch its VC Trade in March 2019, the company plans to make XRP available for exchange with the Japanese Yen as well as establish a platform that will be used for payments to the Osaka Expo in 2025. The use of XRP by banks in Japan is also arranged to start by 2025 to provide liquidity for such payments.
5. XRP Launching on USD-to-Crypto Lending Platform, Joining Bitcoin, Ethereum and Litecoin
Crypto lending platform BlockFi is planning to add XRP to its short list of supported cryptocurrencies as posted the dailyhodl.com
According to CEO Zak Prince, the company focuses on liquidity, volatility and consumer demand as the three key criteria for coin selection. Currently, users can borrow US dollars by using three cryptocurrencies as collateral: Bitcoin, Ethereum and Litecoin. The company offers loans from $2,000 at 4.5% interest rate.
XRP will be added to the platform in April or May, reports Cointelegraph Japan.
Last year, the New York-based startup raised $52.5 million to expand its crypto-lending operations.
Tecnical Analysis For Ripple (XRP)
We have an accumulation zone near 0.00008300 – 0.00007700, which is a pump and dump zone, much of the news is given in this zone always leading to a price increase between 10-20%, followed by correction.
If downtrend line breaks of 420 days (the accumulation point), we believe that the main point to purchase is in the uptrend line of 440 days, above the EMA9 in the D1 timeframe, close to the horizontal support 0.00006700 and with targets in the horizontal resistances.
We are still in a bearish trend, so be wise to make your entries. You can work setting alarms to wait the movement to happen or laddering down your orders to make a good average price.
Accumulation zone recommended: between 0.00007700 to
Preferable buy zone: near to 0.00006700
Ripple (XRP) Update Long term
It continues to accumulate within the 0.00008300 – 0.00007700 zone of our previous analysis, for yet another LTB breach attempt, after the last 5 touches have been denied, we now have a divergence of high in the histrogram confirming a possible search for higher tops.