XRP is triggering a lot of expectation in Japan in Advancing Financial SystemsJanuary 8, 2019
XRP has a market cap of $14,794,204,277 USD with a max supply for 100,000,000,000 XRP. The current volume is $499,819,686 USD. The total supply is 99,991,738,974 XRP and the circulating supply is at 40,794,121,066 XRP. The value of the XRP at the time of reporting was at -1.23% at $0.36 USD.
XRP is back to the $0.36 USD mark after a short-term rally. In order to overtake Ethereum XRP should improve by $1 billion dollars.
The sideways trend has been broken and therefore indicative of a lot of volatility per the one-hour XRP chart. The uptrends fluctuated between $0.36 and $0.37. The downtrend extended from $0.39 to $0.38. Strong resistance is seen at $0.37; however, it was broken multiple times. A very strong support is seen at $0.35 for multiple times.
Aroon lines indicate that the cryptocurrency is undergoing a stage of consolidation.
The Chaikin Money Flow is trending a lot below the zero line, which indicates that the money is going out of the XRP market.
The Relative Strength Index is indicative of the XRP buying momentum which in turn equaled with the selling momentum.
The Parabolic SAR indicates there is a bearish price pressure for XRP.
The MACD lines are close to each other; however, they are not signifying a definite crossover.
The Awesome Oscillator has bars above the zero line. The bars were indicating that the momentum has been decreasing for XRP; therefore prices are decreasing as well. Though overall there is a neutral trend for XRP, the one-day chart shows a bearish outlook for XRP.
XRP is considered to be important in developing advanced payment solutions. Being the natural digital asset of Ripple, which does not entail any kind of counterparty risk, the redemption of XRP is not dependent upon any third parties.
Japan has the most expectation for Ripple and XRP.
Takeshi Fujimaki in his twitter thread stated that XRP nodes are spread throughout the world. He raised concerns that Japan should actively be involved in advancing its financial systems by integrating XRP and other encryption currencies.
Fujimaki further opined that Japan would be lagging if Japan does not involve in such advanced fields. He stated, “Japan’s technology is amazing.” However, the numbers of nodes in Japan are less when compared to the rest of the world. Japan according to him is still in the paper society politics.
By studying the use of XRP, he further opined that if XRP represented the use of cryptocurrency, then there is a possibility that the cryptocurrency will develop explosively in the future.
Yet another twitter user stated that the government should understand the importance of cryptocurrency without referring to XRP or any specific encryption currency.