Breaking News / Cryptocoins / Ripple
Despite the Ripple coin dropping to 27 cents today it has also reached a high of 29 cents and it’s currency direction is a positive one. It could be that the low price is attracting is bringing in new traders to invest in Ripple despite their legal issues.
This week, TransferGo released the channel which will be able to perform real time transactions. The channel will also be available across the whole of Europe.
The system will enable users to avoid current payment methods that will take up to three days. It isn’t known which yet which Ripple product TransferGo will be utilising however, the transactions will be based upon Ripple because use of the token is spread throughout the country.
Brad Garlinhouse, the CEO of Ripple, said this week that there is no point in replacing fiat money with cryptocoins. This is a position which will draw the enmity of many in the cryptocurrency area since often the coins are seen as a replacement of fiat money and they have the advantage of not being issued by governments.
In order to find a replacement for fiat currency, digital currency would need to get the speed and usability of fiat money and become much more effective. Cryptocurrency can function well in overseas transactions but it still isn’t useful for payments in an everyday situation.
CCN recently gave a technical analysis of the price of XRP on Friday. The latest fall of Ripple has formed a downward spiral trend however teh channel support test continued to a temporary spike. A new downward drop is now starting to form and if the support at $0.2780 is breached the downward trend will go on and the price will move toward the lower projection on the channel towards $0.2140.
Currently, XRP is at $0.29 but started the day at $0.28.
Maybe it is the traders that have decided that this is a good time to start investing in XRP, several articles have been published today saying just that so maybe that has swayed the investors?
Should multiple buyers see this as an opportunity to invest in XRP at such a bargain price? XRP could start to rise again by quite some margin so now could be the best chance to invest in the crypto...