The Ripio Credit Network is a platform based on the ETH blockchain creating for a transparent lending system. The platform will bring together borrowers and lenders from around the world.
By reducing traditional banking, brokerage costs and management fees, the project seeks to provide better conditions for both parties, creating the best credit alternative available today.
By implementing the institution of a mediator (Cosigner), the Ripio Credit Network seeks to neutralize the credit risks of the lender and, in case of default, to provide an alternative mechanism for managing debt collection in the country of residence of the borrower.
On August 14, the minimum asset price was formed at the level of 0.00000255. But in just a couple of months, the token has grown significantly, showing a 240% growth at its peak on October 28. It is noteworthy that this take-off was due to just a few big deals - September 18 and October 27. However, the token did not stay in the portfolios and was sold off. During the November fall, the minimum price was not updated, the rate did not reach the minimum values by 30%. It is worth noting that the asset is distinguished by a high speed of price change, with intra-day in the range of 4-12%. In addition, stable trading volumes are typical for this token.
The first zone of purchase is in the range of 0.00000327-0.00000336. But there is a chance to break through this level and go down to 0.00000285-0.00000293, which we regard as a safe entry point. The support line is at the level of 0.00000335. The first relatively strong resistance lies in the range of 0.00000437. Given the speed of price change, be sure to put the stop-loss at the level of 0.00000284. The first closing price of the deal is at the level of 0.00000650-0.00000667, we sell a part of the asset and observe the price behavior in this zone. The asset is quite risky for intraday trading, but it can be considered as an investment. A well-thought-out scheme and a working application give reason to believe that the project has a future. It is necessary to take into account the risks associated with changes in law and the lack of a developed infrastructure for working with debtors.