XRP Price Analysis – February 14

  • The crypto continues its range at the low of $0.30 after the downward correction.
  • A price breakout will enable the bulls to take price to the highs of $0.33 and $0.40.
  • A price breakdown will depreciate the crypto to find support at the lows of $0.28 and $0.29.

Ripple, XRPUSDXRP Chart By Trading View

XRPUSD Medium-term Trend: Ranging

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.29, $0.27, $0.25

The XRPUSD pair is still trading at the $0.30 price level after the downward correction. On February 12, the bulls were making attempt to complete the breaking of the 12-day EMA and the 26-day EMA but the bulls failed. On February 11, the crypto’s price completed the downward trend correction.

Then followed by the appearance of small body candlesticks like the Doji and spinning tops which are above the 12-day EMA. These small body candlesticks describe the indecision of buyers and sellers at the $0.30 price level. On the upside, if the crypto’s price has a price breakout the bulls are likely to take price to the highs of $0.33 and $0.40.

On the downside, if the crypto’s price has a price breakdown, the crypto will find support at the lows of $0.28 and $0.29. Meanwhile, the Relative Strength Index period 14 is level 43 which indicates that price is in a sideways trend.

XRPUSD Short-term Trend: Ranging

Ripple, XRPUSDXRP Chart By Trading View

On the 4-hour chart, the XRP price was in a sideways trend zone. The 12-day EMA and the 26-day EMA are trending horizontally indicating the sideways trend. The crypto’s price has been fluctuating below and above the 12-day EMA and the 26-day EMA. The price bars are below the EMAs indicating the lows of $0.30 arising from the daily trading of the cryptocurrency.

Meanwhile, the stochastic is below the 40 % range which indicates that the XRP price is in a bearish momentum and a sell signal.

 

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PayPal is Cautiously Optimistic About Partnership with Libra Association

  • PayPal cautious about future with Facebook's digital currency libra. 
  • Payment platform was one of the first companies to join and support the Libra Association.

Payment platform PayPal is cautiously optimistic about its relationship with Facebook’s digital currency libra, despite being the highest-profile company to join the Libra Association. 

PayPal Backs Libra Association

In June, shortly after the official unveiling of Facebook’s libra, PayPal announced an intention to join and support the Libra Association, a collection of tech and finance companies promoting the product. 

At the time, PayPal billed the digital currency as a revolutionary product for people around the world, 

We believe in democratizing participation in the digital economy for people from all walks of life, and businesses of all sizes.

However, PayPal appears cautious about its future with Facebook’s digital currency. PayPal investor relations vice president Gabrielle Rabinovitch reiterated Sept. 12 that the company is a non-binding agreement with libra, 

It's a non-binding commitment. And obviously, I think there's a lot of work to happen before we get to that point where it becomes something more than just a very exciting idea.

She added, 

The goals and ambitions of Libra are very consistent with PayPal's overall ambitions in terms of serving the underserved; democratizing access to capital. So we very much believe in the potential of Libra.

While PayPal appears optimistic about the future of libra, the digital currency has endured months of regulatory and political scrutiny concerning its release. 

Earlier in the week, senior U.S. Treasury official Sigal Mandelker told an audience in Geneva that libra would be held to the highest standard of regulatory compliance in order to combat money laundering and terrorist funding.

 

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