Ripple Boost: ECB Changes To White House Links, Will XRP Recover?

Ripple (XRP) retesting 40 cents, stable in the last day
Change of leadership at ECB could be supportive for Ripple and blockchain in general

Bears Rejoice as Bitcoin Fails to Reclaim $10k and Targets Lower
Wednesday July 17, 2019

The Bitcoin pullback that started over the weekend has accelerated as we hit mid-week. During yesterday’s US trading session BTC dropped below the highly critical $10,000 level and has failed to reclaim it as...

The post Bears Rejoice as Bitcoin Fails to Reclaim $10k and Targets Lower appeared first on 12bitplay - Bitcoin Play.

Christine Lagarde will take over from Mario Draghi as the head of ECB. As a blockchain and crypto believer, her entry is significant. On more than one occasion she has been quoted fronting several DLT technologies including Ripple’s.
Ripple Price Analysis
Fundamentals
Good news is, Christine Lagarde, the Managing Director of the IMF, will take over from Mario Draghi. While Mario did a lot for the ailing European economy, the entry of Christine is a fresh breath of air. Particularly significant for the crypto community, blockchain as an emerging and disrupting technology will be more visible during her tenure. It’s easy to see why.
Aside from being one of the top brass openly acknowledging crypto and blockchain, she’s particularly keen about Ripple and related products. Although she advocates for proper regulations, labeling fitting laws as a “pillar of trust,” her support and enthusiasm for Ripple is bullish for XRP. In more than one occasion, she has been quoted asking banks to innovate or die singling out the power of Ripple and Circle.
Furthermore, the fact that Ripple’s management team are globe-trotting with friends in high places as in the White House helps in their agenda. Earlier, the former Chief Marketing Strategist, Cory Johnson, said Ripple is in constant communication with officials from the Trump’s administration.
Even so, Ripple’s objective is not to compete with SWIFT. The latter is a market leader with more than 11,000 global banks using its network. As per Marjan Delatinne, a former SWIFT employee and Ripple’s Head of Global Banking, the global payment platform is preferably complementary to existing rival systems.
Candlestick Arrangement

Bitcoin Price (BTC) Could Retest Key Support Before Fresh Increase
Monday July 22, 2019

Bitcoin price climbed higher recently above the $11,000 resistance level against the US Dollar. The price spiked towards $11,200 and recently corrected lower below $10,800. There is a connecting bullish trend line forming with...

The post Bitcoin Price (BTC) Could Retest Key Support Before Fresh Increase appeared first on 12bitplay - Bitcoin Play.

 
At the time of writing, XRP is reacting from 40 cents. From candlestick arrangement, the level is a significant support level now that XRP is within a bullish breakout pattern against the USD.
If anything, buyers are in control. However, the short to medium term trajectory is mainly dependent on buyers. Should they build sufficient momentum and rally past 50 cents at the back of high trading volumes, XRP prices will likely surge 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 likely trigger panic sells below Q1 2019 primary support at 30 cents. Unexpected but not discounted, such deep losses will cancel this projection.
Technical Indicators
Anchoring this trade plan is June 22 candlestick. With high trading volumes of 113 million, any reversal of June 27 losses-signaling entry of bulls, should be at the back of high participation surpassing 113 million and 20 million averages. Similarly, sell-off below 40 cents canceling buyers of mid-May ought to be with high trading volumes confirming bears of late June 2019.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Silver’s Rally May Be Fueled by Concerns About Bitcoin’s Status as a Safe Haven Investment
Sunday July 21, 2019

Bitcoin and the entire cryptocurrency markets have incurred a severe bout of volatility over the past several weeks and months, which has primarily been in favor of the cryptocurrency’s bulls. Lately, Silver has also...

The post Silver’s Rally May Be Fueled by Concerns About Bitcoin’s Status as a Safe Haven Investment appeared first on 12bitplay - Bitcoin Play.

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