Ripple Price Analysis: XRP Benefiting From SWIFT–Corda Trial
Ripple price surge 10 percent
SWIFT GPI Link proof of concept with R3’s Corda
Transactional volumes picking up, spikes above averages
German Central Bank Chief Snubs Bitcoin Skeptic Trump, Supports Libra
Friday July 19, 2019
According to Mati Greenspan, Libra has garnered some support at long last, and from an unlikely figure no less. Citing a recent article, which he translated via Google, the eToro analyst noted that the...
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SBI Holdings may be behind an audacious plan of integrating SWIFT GPI with RippleNet via R3’s Corda Settler. The latter use XRP, and if that is the case, our previous XRP/USD trade assertions will be valid. With a 10 percent spike, it is likely that XRP could retest 80 cents.
Ripple Price Analysis
Good news for Ripple and XRP. SWIFT, the global payment messenger platform, is in a proof of concept stage, trying out its new GPI Link payment standard withR3’s Corda. If anything—and if this testing phase is a success, then we could see SWIFT integrating XRP indirectly via the Corda platform. Remember, in Dec 2018, Corda Settler launched. Corda Settler is an application that facilitates cryptocurrency payments between enterprise blockchains via XRP.
Ethereum (ETH) Bulls Slow Down, Ceiling At $230
Saturday July 20, 2019
Ethereum (ETH) is down 18.2 percent Set Labs launching an ETH trading robot As a reputable smart contracting platform striving to improve, it’s token, ETH, is technically bullish. Regardless, with dropping BTC prices exacerbated...
We are excited to announce our partnership with @swiftcommunity to integrate gpi with Corda Settler. @Cordablockchain https://t.co/FyEJScr0j8
— R3 (@inside_r3) January 30, 2019
Analysts Believe Bitcoin Looks Bullish Despite Growing Fears of a Trump Ban
Monday July 15, 2019
Bitcoin and the aggregated crypto markets have faced an extension of the downwards pressure that they have been battling with over the past several weeks, which briefly sent BTC back into the four-figure price...
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Furthermore, there is an existing partnership between R3 and SBI Holdings where the former has a 60 percent in the SBI R3 Japan venture. It doesn’t stop there. SBI Holdings also has a 60 percent stake in SBI Ripple Asia consortium, and the banking group is a keen supporter of XRP and Ripple solutions.
“SBI Ripple Asia is providing a next-generation payment platform powered by DLT (Distributed Ledger Technology) to financial institutions and remittance transfer providers in Asia as a joint venture of SBI Holdings and Ripple, a US FinTech venture.”
From the above, it’s not hard to see why Takashi Okita of SBI Holdings is not pulling strings as SWIFT trials on Corda. XRP is up 10 percent at the time of writing with decent trade volumes.
We shall gauge the level of market participation by close but what is clear is that there is a double bar bull reversal pattern off 30 cents. The bar does confirm bulls of mi-Dec 2018 as well as bringing to light the previous trajectory set by Sep 2018.
Because of this, it is likely that XRP bulls will drive prices above 34 cents igniting risk-off long positions with first targets at 40 cents.
Even though we have a clear bull bar, transactional volumes are light—but above average. At the time of writing, today’s bullish engulfing bar was pumped by high-volumes –23 million. Trading ranges are extensive, but volumes are below those of Jan 28—31 million and less than 83 million of Jan 10. All the same, we are in the early stages of a trend reversal, and transactional volumes are building up.
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