In comparison to xCurrent the new service uses Ripple Tokens for the transactions.
This has been the reason for the fast rush.
We don´t know if this standard really will be implemented in the banking system or if they take another one - without using Ripple tokens. Nevertheless it´s good news.
Technically the price has left the long term negative trend channel (one shorter trend channel - and another long term: both in red). The price has climbed up to the swing at 0.62$, what has been a resistance, rebounded and actually stays above another swing at 0.46$.
Ripple has lost its dynamic and it is to be expected, that, without new fundamental news, the price will fall back on a lower level (perhaps the support at 0.46$ ?)
As long as Ripple stays outside the negative trend channel the trend is positive. But once Ripple plumpes down into the old channel the trend will at new turn from positive to negative. To be clear: Ripple shall not fall under 0.46$!
is overbought but correcting. is still positive (think of the lag!). 50 far beyond the actual price.
A corrective move to 0.46$ is very possible.
No trading advice!
In my point of view it´s more probable that Ripple will stay in this channel the next time.