Ripple coin is considered as the best cryptocurrencies in the world, but most investors don't like Ripple or its products. Ripple's main focus is to help global remittances and become a leading solution. We all know that it still faces fierce competition with SWIFT. Encrypted currencies have attracted a lot of attention since their inception, but they still face security-related debates.
Technically, Ripple trades between $0.27 and $0.30. In addition, ripple price structure in a short-term time is still at a low high and a low low, but its chart shows that it has slowed since falling from $0.35. The first possible support is the August low or the 2018 low and the circular area of $0.25. If it gets support from this area, then we will also see a bullish chart pattern called "double bottom."
Subsequently, the market analysis of the known trader easyMarkets pointed out that: “XRPUSD is close to our support at 0.3349 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, short-term upside support) and may have a strong rebound above this level, pushing prices Rise to our main resistance at 0.3499 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (89, 5, 3) close to support, if rebound exceeds this The level may rise correspondingly."
In other words, Ripple is one step ahead because the cryptocurrency won the lawsuit and was not declared a security. The lawsuit was recently “dismissed by the California State Court and must not be biased”.
Ripple also has an in-depth understanding of one of its products, xCurrent, through video. The latest ripple news reveals how xCurrent addresses the long-standing problems faced by SMBs, including lack of transparency, traceability and additional information. Ripple's xCurrent focuses on solving these problems and is a permanent solution to the transaction costs associated with SMEs. Even if this is done, the blockchain company cannot convince its community.
On the other hand, xRapid, another cross-border payment product from Ripple, will be available before the end of the year and is undergoing different tests by Cuallix and Zipremit.
Ripple plans to combine xVia, xRapid and xCurrent into a solution called Convergence; this is based on Jim Chauncey-Kelly, Ripple Talent Recruitment Director.
According to the company, Convergence is software that synchronizes all Ripple products. It is also added that through Convergence, the industry can transfer funds from one country to another and still enjoy speed and flexibility with low transaction costs.
Ripple also replied to critics about the "centralization" of his agreement. Ripple CTO David Schwartz said XRP is a bitcoin-like diversified coin. However, there are still concerns and problems regarding the centralization of blockchain projects.
Despite this, Ripple seems to be the leader in terms of large-scale adoption, because even companies like Mitsubishi UFJ Financial Group recognize the use of Ripple solutions in different parts of the world. The company is looking to improve its position as the leading solution for global remittances. Its xRapid will be online soon, which may attract more financial technology companies to adopt it. So in the eyes of minority investors, the ripple market has great potential, but not for most investors.