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XRP price analysis

Cryptocurrencies and the initial supply of coins may be illegal in China. However, that does not stop Ripple, the company that is behind the cryptocurrency, XRP, from partnering with the Fintech Research Institute of Tsinghua University (THUIFR). Their collaboration has led to a new program, the Blockchain Technology Research Fellowship Program (BRSP).

With regulatory headwinds, expansion and adoption is slow. It worsens as asset prices fall. Now, part of the objective of the program will be to guide, fund in-depth research on Fintech, as well as contribute and develop favorable policies. The final game is to promote the use of blockchain and related applications such as cryptocurrencies.

The senior vice president of global operations at Ripple, Eric van Miltenburg, said:

“The objective of the program, to provide opportunities for students in blockchain research, is closely aligned with that of the Blockchain Research Initiative of Ripple University. We are delighted to support THUIFR in this effort and look forward to its launch. ”

Candlestick Arrangement

At the time of publication, XRP remains stable, but the ETH gap continues to increase. It is now at $ 700 million. In general terms, this is bullish and to reaffirm, the XRP is technically bullish against the greenback whenever prices are approaching 34 cents. The 30 cent mark continues to lower prices.

As we have said, all levels of Fibonacci retracement are psychological and are proven reaction points. It was confirmed yesterday when prices reacted at the 78.6 percent mark. Due to deep corrections since the December highs, the furthest XRP that can be retested is December’s maximum at 40-42 cents. With this guide, the bulls should be on the sidelines, they only plan to start long once the prices go up beyond 34 cents, the 50 percent mark, preferably with high volumes of transactions that help the bulls recover the losses of January 20.

Technical indicators

Despite favorable fundamentals and candle agreements, transaction volumes are low with averages of fall. Even so, there is a possibility that the increase in demand will raise these averages from 18 million to more than 83 million registered on January 10. Because we are net up, the XRP will rise from spot rates to 60 cents by mid-February 2019.

Published inCryptocurrencies

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