We remain firm that our Ripple Price Forecast for 2019 will materialize with a price target of 20 USD for 2019, ultimately 2020. Also based on our 5 cryptocurrency predictions for 2019 we see Ripple’s XRP (XRP) as the strongest cryptocurrency going forward about to overtake Bitcoin‘s number 1 position during the next run. This week, again, Ripple came out with great news. Moreover, its chart setup is truly beautiful with a series of higher lows during the bear market of 2018. What else does a crypto investor desire?
First, the news on Ripple from last week.
The United Arab Emirates-based UAE Exchange and U.S. startup Ripple plan to launch cross-border remittances to Asia via blockchain by the first quarter of 2019, says CNBC. Why is this important? One may argue that UAE is a small country? Not that fast, this is why it matters:
Asia was one of the biggest recipients of the roughly $613 billion in remittances sent globally last year, with a large swathe coming from expatriate workers in the Middle East, where UAE Exchange, part of payments and foreign exchange company Finablr, is one of the main players.
Most funds are currently sent through foreign exchange branches but a growing chunk is being transferred via websites and apps, with the use of blockchain technology expected to ramp up in the next few years – a transition that UAE Exchange and San Francisco-based Ripple are aiming to capture.
“Blockchain holds tremendous promise for the industry but there is progress to be made before we see it go fully mainstream,” said Promoth Manghat, executive director and chief executive at UAE-based Finablr.
The expectation is that this will go live by Q1, 2019 with one or two Asian banks. It would be for remittances to start with, from across the globe into Asia.
Reuters adds to this: Middle East lenders National Bank of Ras Al Khaimah (RAKBANK) RAKB.AD and Kuwait Finance House (KFH.KW) have also joined RippleNet, alongside global banks such as Standard Chartered (STAN.L).
With this, Ripple confirms its firm move towards becoming the absolutely strongest crypto startup in terms of adoption, no question about it!
Moreover, from a chart perspective there is a beautiful pattern shaping up: a higher low. This bear market of 2018 created lots of damage to most cryptocurrencies, but not for Ripple’s XRP in the big scheme of things. Ripple’s XRP price fell back to the heights of 2017 which is a great long term bullish signal.
Also, shorter term, there is this higher lows pattern visible on the chart below. Note the arrows on the chart. Again, this is a very bullish signal, and Ripple is one of the few cryptos that respected its summer lows!
Both long term and short term Ripple is setting a beautiful and bullish setup.
All in all, we truly believe the interview with Ripple’s Vice President of Product Management, Asheesh Birla, appeared last week, makes exactly the same points as the ones in our vision and method:
Back in 2013, when most digital assets were nearly worthless, we didn’t really factor price into it. We don’t factor it in all that much right now either; we take a longer-term view of the entire market. I think our founders have done a good job of laying out a vision and making clear that if you’re here for a one- or two-year blip, this is not the place to be. Your [crypto] project has to be tuned into the long-term instead of the day-to-day volatility.
He continues: [The crypto] crash takes out all the folks who are not focused on solving real problems and real use cases. And, I think you are going to see some really interesting companies come out of this next downturn.
This is exactly the way we look at cryptocurrencies and blockchain investing opportunities. Want to know more, and our top cryptos to buy right now, then become a member now and get instant access >>
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