Ripple (XRP) on Friday, September 7, recovered somewhat in price, but intraday pattern of trading remains mixed. Day trading are about $0,2905, according to a leading analyst RoboForex Dmitry Gurkovsky.
Funamentally analysis
News regarding the XRP are for the most part neutral. So, this week it became known about the launch of the payment channel in India the operator of the money transfer TransferGo. The company applies in this case technology on the basis of XRP. This will allow transaction in real-time.
The channel will be available for use throughout the European territory. This will allow you to abandon most of the systems of payment where the transaction last for 2-3 days. It is still unknown what kind of product XRP will use TransferGo, but exactly clear why this token is selected: in India XRP is widely available and offers absolutely limitless possibilities.
Another service that runs TransferGo will also be focused on payments. Although it will be slower, but it will be free. It is also based on the technologies of XRP.
This week the head of the XRP brad Garlinghouse (Brad Garlinghouse) said that it is pointless to speculate about the possible replacement of real money with virtual currencies, because its functions of traditional Fiat money do well. To develop this idea, we first need to ensure that digital assets in this field will work more efficiently. According to him, cryptocurrency is ideal for cross-border payments, but in everyday life, their role here is hardly noticeable.
Technical analysis
The last impulse declines XRP has allowed him to build the downtrend channel. Puncture and test the support line of the channel has led to a temporary pullback. At the moment, the market is making new momentum reduction. A breakout of the current support level of $0,2780 will allow the pair to develop a downward trend and move in the lower channel projection to $0,2140.
The technical picture XRP 1-hour timeframe demonstrating the completion of a local correctional up-trend and forming the inner channel downtrend. After overcoming the support level at $0,2780 expect the decline to support a new channel and significant at least $0,2365. Local resistance is at $0,3036.
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