Markets

XRP Above Ichimoku Cloud As Ripple Signs Deal With UAE Exchange

XRP Above Ichimoku Cloud as Ripple Signs Deal with UAE Exchange: Ripple’s XRP has been trying to pierce through the pivot level and 61% Fibonacci retracement level of 1.12 over the weekend with no luck. However, it does appear its price may have bottomed out at the support level of 0.69.

On the 4-hour chart, it has broken above the Ichimoku cloud and it now could be in the pull-back phase. The future cloud appears bullish, however, the Tenkan line and the Kijun line are moving down. The Chiko span has yet to break above the cloud so we have a bit of a mixed-signal situation going on from a Technical point of view.

Ripple remains the 3rd largest cryptocurrency by market cap, trailing behind Bitcoin and Ethereum. Ripple’s company just signed a massive deal with UAE exchange to have them join RippleNet network for cross-border payments. UAE Exchange is hoping to bring customers an “enhanced, new payments experience” by incorporating Ripple’s blockchain technology into their payments systems.

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Now, what XRP investors need to keep in mind is that it’s not clear if UAE Exchange will use Ripple’s cryptocurrency in its processes. But Ripple is hoping that by adding a market leader like UAE Exchange to RippleNet, they can bring instant, certain, low-cost payments to the millions of retail customers in the UAE who send money abroad.

This article was originally published on InvestDiva.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Kiana Danial

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert. She is a highly sought-after professional speaker, author and executive coach who delivers inspirational workshops and seminars to corporations, universities and entrepreneurial groups. She is a frequent expert on many TV and radio stations and has reported on the financial markets directly from the floor of NYSE and Nasdaq. She is a weekly investment expert guest on Tokyo’s #1 Investment TV Show. She has been featured in The Wall Street Journal, TIME Magazine, CNN, Forbes, The Street, and numerous other publications. Kiana’s book "Invest Diva's Guide to Making Money in Forex" was picked by McGraw-Hill only two years after she first moved to the US, and was an immediate domestic and international success. At a young age, she has won numerous awards including Best Financial Education Provider at Shanghai Forex Expo in 2014, New York Business Women of Influence Honoree in 2015, and Pro Bono Humanitarian Award by IA Bar Association in 2013. Born and raised in Iran to a Jewish family as a religious minority, she was awarded a scholarship from the Japanese government to study Electrical Engineering in Japan, where she obtained two degrees in Electrical Engineering and researched on Quantum Physics in classes conducted in the Japanese language. Being the only girl and foreigner in her classes made her decide to dedicate her life to empowering minorities, especially women in male dominated industries. As the CEO of Invest Diva, Kiana’s goal is to empower and educate women to grow their wealth by investing like a ROCK STAR.

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