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XRP Becoming Digital Gold

Ripple’s CTO highlights the features of “Decentralization, Scalability, Speed”. It enables the cost reduction offered by XRP Ledger. He then states that the platform’s issued currency functionality is being designed to allow financial institutions to create, issue and manage any asset. This includes stable currencies.

The process of issuing asset classes only requires the financial institution to set up an XRPL node. Thus, institutions can open a sender account and choose the desired configuration options for that particular stablecoin. Then issuers can connect the node to the bank’s payment network or to the payment network of the stablecoin issuer.

The next step is to create a wallet that will contain the funds of the issuer. It also consists of submitting the “creation of stable coins” transaction on the XRP ledger. In this way, the entity will have access to their account credentials to proceed with the configuration of the stablecoin according to their needs and requirements.

XRP closed down -0.040 at 0.280. Volume was 34% below average (neutral) and Bollinger Bands were 33% narrower than normal.

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

XRP is currently 6.3% below its 200-period moving average and is in a downward trend.

Volatility is high as compared to the average volatility over the last 10 periods.

Our volume indicators reflect volume flowing into and out of XRP at a relatively equal pace (neutral).

Our trend forecasting oscillators are currently bearish on XRP and have had this outlook for the last 27 periods.

Overall, the bias in prices is: Downwards.

A black body occurred (because prices closed lower than they opened).

During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles.

During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.

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