Top Crypto Investment News, Listings, Member Posts, Crypto Investment Daily Indices and more!

5yrs ago Crypto newsbtc Views: 537

 

  • Ripple price trajectory is up
  • Yoshitaka Kitao endorses Ripple (XRP)
  • Transactional volumes on the rise

 

SBI Holdings and Yoshitaka Kitao are Ripple (XRP) proponents and believe the coin will somehow revolutionize cryptocurrency. Anyhow, with the launch of SBIVC expected in weeks, our previous XRP/USD trade plans will be validated.

Ripple (XRP) Price Analysis

Fundamentals

Sometimes, the head of SBI Holdings Yoshitaka Kitao may appear over-optimistic about Ripple and XRP abilities to revolutionize crypto. SBI Holdings anchors and is the nucleus of Ripple activities in Asia. As the majority holder of SBI-Ripple Asia alliance, they have been promoting adoption in the crypto-active region.

March is when the SBIVC exchange will launch and with XRP paired against the Japanese Yen, we expect an immediate effect on price. However, the real impact is projected to be in August when adoption will be center stage, and there will be regulatory clarity on the status of XRP as a token.

Add this to SBI Holdings plans of supporting Ripple Inc and aid in their ambition of driving the coin to new heights. Bullish signals are flashing. Here is what Yoshitaka Kitao said:

“Under these circumstances, we will promote efforts to expand the practical use of virtual currency like XRP more and more. Also, on the other side, we will provide investment instruments incorporating virtual currency into institutional investors.”

He continues, adding that BTC is expensive and XRP is designed for global cross border payments because it is cheap and settlement is almost instantaneous:

“There is basically no value for Bitcoin. The current price of Bitcoin makes it harder and harder to use in practical ways. So I think that XRP will probably become the number one crypto asset. We are aiming to make that happen.”

Candlestick Arrangements

-

The path to a possible BTC–XRP flip is long if not next to impossible. At current valuations, XRP is more than 4.5 times more valuable than BTC, and if Kitao comments are valid, then XRP is grossly undervalued.

The third most valuable coin is now changing hands at 33 cents and up 7.1 percent in the last week. While BTC and ETH are posting huge gains from last week’s close, XRP is struggling against bears and consolidating in lower time frames.

Because of this, our XRP/USD trade conditions are not yet true and risk-off traders ought to hold off from executing longs despite high-volume bull bars trending below 34 cents. It is only after a full bar close above 34 cents is when traders can load up on dips with first targets at 40 cents and later 60 cents.

Technical Indicators

Encouragingly, transactional volumes are increasing, and XRP is expanding as a result. In the last few days, averages have risen from 15 million of Jan 29 to 22 million posted yesterday. However, as aforementioned, we need strong market participation driving prices above 34 cents with volumes above 52 million or 83 million of those of Jan 10.

Japanese Bank Head Endorse Ripple (XRP) says Bitcoin (BTC) Has no Value on NewsBTC.


Today's Crypto Investment Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.