Recently, Brad Garlinghouse, the CEO of Ripple, hinted that the European Central Bank may be considering a partnership with Ripple that will require the use of XRP. It all started when the official Twitter handle of the European Central Bank posted about cryptocurrencies. The tweet was as follows;
“Occasional paper: Crypto-Assets – Implications for financial stability, monetary policy, and payments and market infrastructures https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op223~3ce14e986c.en.pdf.”
Quoting the tweet, Garlinghouse said;
“Great to see @ecb come out with a clear POV on crypto assets – notably, that XRP is recognized as one of the most important in terms of usage, market cap and business model diversity.”
Since Garlinghouse spends most of his time trying to get institutions to use Ripple protocols, it’s understandable that he would want to flaunt such a post. While the blog post by the European Central Bank didn’t state that they will be using XRP or any other technology by Ripple, it acknowledged the efficiency of XRP in today’s financial system.
The bank clearly stated that cryptocurrencies are good investments pointing out the benefits of investing in an asset like Ripple. Keep in mind that this isn’t the first time a reputable financial institution is praising Ripple. A while ago, according to our XRP news, the World Bank stated that Ripple’s technology is pushing traditional financial giants like SWIFT to innovate and explore distributed ledger technology. The International Monetary Fund also acknowledged Ripple’s potential.
Ripple XRP Price Prediction 2019
The price struggle of XRP is no longer news. Until recently, the price of XRP was not able to gather enough momentum to surge above the $0.44 level after trading in the $0.30 level for months.
XRP (XRP) Price Today – XRP / USD
If the European Central Bank partners with Ripple to use XRP, the XRP price prediction will be bullish. This is is because such a partnership will lead to mass adoption of XRP by institutions and retail investors.
Ripple XRP Price Analysis
Ripple and XRP have had a tough journey. From one scandal to another, the XRP news is typically about how Ripple and XRP are under backlash. The funny thing about the negative press XRP is getting is that it’s not affecting Ripple’s partnerships with major financial institutions. Most of the negativity channeled towards Ripple and XRP come from the retail investors in the cryptocurrency community and not from Ripple’s primary target – the institutions. It is the interest of institutions that will determine if the XRP prediction 2019 will remain bullish or not.
Recently, Ripple price climbed steadily above $0.3950 and $0.4000 against the US Dollar. The XRP/USD pair even traded above the $0.4050 level and the 100 hourly simple moving average. However, the pair struggled to break the $0.4080 and $0.4085 resistance levels. As a result, there was a bearish reaction and the price declined below the $0.4050 and $0.4000 support levels. Besides, there was a clear break below the $0.3950 support and the 100 hourly SMA.
According to the latest XRP price analysis on newsbtc; Ripple price is clearly trading above major supports near $0.3620 and it is likely to bounce back. On the upside, the previous supports near $0.3900 and $0.3950 are likely to prevent upsides. However, a successful close above $0.4000 might start a strong upward move towards $0.4100 or even $0.4200. On the flip side, a successful close below $0.3620 could push the price back towards $0.3500.