Coin of the day is Ripple.
While bitcoin is slowly gaining, altcoin markets went int correctional phase. Ripple – one of the coins that trying to separate itself from bitcoin, talking that correlation in XRP and BTC prices will not remain.
Ripple CEO Brad Garlinghouse talks:
"There's a very high correlation between the price of XRP and the price of bitcoin, but ultimately these are independent open-sourced technologies"
"It's early, over time you'll see a more rational market and behaviors that reflect that."
Ripple company classifies their product as a real-time gross settlement system (RTGS), currency exchange and remittance network. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source internet protocol, consensus ledger. Released in 2012, Ripple purports to enable "secure, instantly and nearly free global financial transactions of any size with no chargebacks." It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. Despite its distribution, one of the most dangerous shortcomings of this company is that, in its essence, it belongs to a closed circle of people who have complete control over it, and this runs counter to the idealistic concept of crypto-currencies.
Latest news
4 June - After a delay related to security issues, the Japanese financial company SBI Holdings announced the launch of its crypto platform, writes CoinDesk. For now, VCTRADE service is only available to those who pre-registration took place in October 2017 others will be able to use it in July.
In today’s statement, SBI explained that the first stage of the platform would provide services for trading Ripple. Bitcoin and Bitcoin Cash will be added shortly, but no specific time was announced.
Technicals
After an attempt to take 0.0001 level on 21.04 XRPBTC went into stagnation, slowly bottoming only on the 0.00008 level. At the end of the May, after the third dip, the price started to grow, crossing 100-days EMA on the way. Today, after SBI announcement, Ripple showed noticeable retreat after hitting 0.00009 resistance, though the volume on the upward movement was significant. Nonetheless, while the price holds above 100-days EMA and above Bullish Trend Line the bias stays bullish, and such rebound could be a good place to buy-in. Important resistances on the way up will be 0.00009 level, and a major resistance 0.0001 afterward. Support – Bullish Trend Lines and 100-days EMA.
While bitcoin is slowly gaining, altcoin markets went int correctional phase. Ripple – one of the coins that trying to separate itself from bitcoin, talking that correlation in XRP and BTC prices will not remain.
Ripple CEO Brad Garlinghouse talks:
"There's a very high correlation between the price of XRP and the price of bitcoin, but ultimately these are independent open-sourced technologies"
"It's early, over time you'll see a more rational market and behaviors that reflect that."
Ripple company classifies their product as a real-time gross settlement system (RTGS), currency exchange and remittance network. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source internet protocol, consensus ledger. Released in 2012, Ripple purports to enable "secure, instantly and nearly free global financial transactions of any size with no chargebacks." It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes. Despite its distribution, one of the most dangerous shortcomings of this company is that, in its essence, it belongs to a closed circle of people who have complete control over it, and this runs counter to the idealistic concept of crypto-currencies.
Latest news
4 June - After a delay related to security issues, the Japanese financial company SBI Holdings announced the launch of its crypto platform, writes CoinDesk. For now, VCTRADE service is only available to those who pre-registration took place in October 2017 others will be able to use it in July.
In today’s statement, SBI explained that the first stage of the platform would provide services for trading Ripple. Bitcoin and Bitcoin Cash will be added shortly, but no specific time was announced.
Technicals
After an attempt to take 0.0001 level on 21.04 XRPBTC went into stagnation, slowly bottoming only on the 0.00008 level. At the end of the May, after the third dip, the price started to grow, crossing 100-days EMA on the way. Today, after SBI announcement, Ripple showed noticeable retreat after hitting 0.00009 resistance, though the volume on the upward movement was significant. Nonetheless, while the price holds above 100-days EMA and above Bullish Trend Line the bias stays bullish, and such rebound could be a good place to buy-in. Important resistances on the way up will be 0.00009 level, and a major resistance 0.0001 afterward. Support – Bullish Trend Lines and 100-days EMA.
