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XRP prices will fall and rise again from the ashes

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Source: Max Pixel

XRP/USD and XRP/BTC charts show a cycle that is being followed since April 2018. The first cycle started in April 2018 and ended in September 2018. The end of the cycle pushed the prices by a massive amount, which was followed by the start of the second cycle.

XRP/BTC

Cycle 1

Source: TradingView

The first cycle started after the price of XRP fell from its peak and the correction wave continued plummeting the prices by approximately 60%. The boom that followed the correction pushed the prices by 185% in approximately 10 days. The first cycle progressed in five steps, where the prices formed falling wedges with price breakouts at the end of each wedge.

As seen on the chart attached, the five steps were enclosed in a bigger falling wedge, which eventually broke out to the top.

Cycle 2

Source: TradingView

The second cycle is very similar to the first cycle; the prices falling in steps and completing four of the five steps, with each fall being in a falling wedge pattern.

In addition to the above, the patterns are exhibiting ~18% drop pattern, which is followed by a rise of ~22%. The fourth pattern dropped by ~22% and assuming the same, the prices in a short-term scenario would drop [by approximately 18% to 20%]. The drop could be immediate or could take a couple of days to manifest.

Source: TradingView

This final drop will be the fifth pattern, after which the prices will shoot up to the resistance at 0.0001042 BTC, which would be an increase of approximately 100%.

Source: TradingView

In addition to the above, the Stochastic RSI showcased that it still has room to move to the downside. As seen on the chart, there is a strong resistance at the 35-level.

XRP/USD

Source: TradingView

XRP paired against the US Dollar shows a bearish pattern over the course of 5-6 months. The descending triangle formed is accompanied by decreasing volume, further confirming the pattern.



In a relatively long time frame, the price of XRP seems to be heading lower. The breakout of the descending triangle will push the price of XRP as low as $0.1470 by the end of May 2019. The RSI shows that the price still has a lot of room to move to the oversold zone as it has only reached the 50-level, further confirming the downtrend for XRP.

Conclusion

XRP/BTC chart shows that it will dump in a shorter time frame and then be followed by a massive pump. The XRP/USD chart showed exactly the same result as that of the XRP/BTC chart in the smaller time frame. XRP prices might reach as low as $0.14705 by the end of May 2019 or even sooner, but a short term drop is imminent.





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

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Ripple-backed XRPL Labs releases XRPayments on Playstore and App store

Namrata Shukla

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Ripple-backed XRPL Labs releases its XRPayments on Playstore and App store
Source: Pixabay

The Ripple-backed startup, XRPL Labs had been working on various technologies to develop the ecosystem. One of these technologies, XRPayment, was in its testing phase and has been finally launched and made available on the Google Play store and Apple app store.

Wietse Wind, the developer of XRPtipbot and one of the developers at XRPL Labs, informed the XRP community about this on his Twitter. Wind stated:

“Right on time! 🎉 🎉 🎉 Our XRPayments app was just accepted by Google and Apple. You can get the app now from the Apple iOS or Google Play store, and start accepting $XRP for payments in your physical store!”

The application received a lot of traction, especially from the XRP enthusiasts, however, one of the users pointed out an issue he encountered while using the application. Twitter user @almost_summer_ asked Wind:



“hi Wietse great job! just downloaded it, if i open the coinbase or uphold wallet app i can scan the QR but it does not auto fill in the amount of XRP to send. the XRPay web version did fill in the amounts. is that supposed to be like that?”

Wind replied to the user saying that the team wanted users to think about the amount they and perhaps tip the service. He also added:

“Some wallet apps can read a pre filled amount, and the web version implemented that, thus breaking support with some other clients. For this app we wanted 100% support, so we left out the pre filled amount feature for now.”

Wind and the team are also working on a ‘signing platform’ which will enable the users to sign and approve transactions from an application or the web application from any developer, without sharing their mnemonic, through a push message or QR code.





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