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# Ripple (XRP): Centralized Cryptocurrency Coin Prices, News & Predictions

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## What You Should Know About Ripple (XRP)

Co-founded by Chris Larsen and Jed McCaleb, who also founded the now defunct MtGox, Ripple is a real-time gross settlement system (RTGS) which has remained highly controversial within the cryptocurrency community since its release in 2012. Some argue that Ripple is even older than Bitcoin since the precursor to Ripple, Ripplepay, was first conceived by Ryan Fugger in 2004.

Strictly speaking, Ripple's XRP is not a cryptocurrency but a digital currency. Ripple is not merely known for its digital currency either. It's a payment protocol – Ripple Transaction Protocol (RTXP), which functions as a ramp for trade and transfer of various forms of currencies, both fiat and cryptocurrencies, and digital goods.

Although often compared and contrasted with Bitcoin, Ripple can be best described as Paypal based on the principles of blockchain as it seeks to leverage the security afforded by blockchain to facilitate global interbank transactions.

### Ripple Transaction Protocol (RTXP)

RTXP comprises a set of rules governing the transfer of money and assets between various payment gateways to enable transactions between two parties from anywhere in the world. Gateways are intermediaries able to receive and send currencies and digital goods via the Ripple network. The protocol enables gateways to allow their customers to use Ripple's service, which facilitates seamless interbank transactions.

It should be noted that these gateways which perform the function of middlemen within the Ripple ecosystem expose users in the network to counterparty risk similar to conventional banking system, with only Ripple's native currency, XRP being exempt from counterparty risk. Ripple protocol's advantage is its ability to process near-instant transactions across borders for a mere fraction of the fee.

#### Gateways

Gateways are fundamental to the way Ripple operates. These can be banks, marketplaces and financial institutions that have incorporated the Ripple protocol in their system. Gateways provide a way for money and other forms of value to move in and out of the XRP Ledger.

Alice can pay Bob by simply depositing a supported currency at Gateway A and notify Bob to redeem equivalent value in his preferred currency at Gateway B.

#### Consensus

Unlike Bitcoin, which uses proof-of-work (PoW) algorithm verify transactions, Ripple employs a distributed ledger which is updated by a network of nodes which validate transactions.

Although described as a decentralized network, these validating nodes are operated by Ripple and payment gateways in the network. A new ledger is created every 4 seconds when a set of transactions are validated by a supermajority of peer nodes.

XRP’s distribution is also controversial for being 100% pre-mined, meaning that all 100 billion coins that will ever exist were created in the genesis block with the Ripple organization holding approximately 60% of the total supply which will be released over time.

#### Reception

While banks and other financial services have been receptive of Ripple’s ability to process faster, cross-border transactions compared to conventional means, the cryptocurrency community takes an askant view of Ripple and considers the protocol centralized and unfaithful to the blockchain paradigm.

• XRP
(XRP)
• Price

The price momentum has been stopped out after an increase of 7.76% measured from yesterday's low at $12100 as the price started encountering resistance around the vicinity of the prior high on the ending point of the 5th wave of the upward impulse. Looking at the 15 min chart, you can see that the price got close to the 0.618 Fib level but there hasn't been an interaction before the price found resistance and has started to flat out, forming a horizontal resistance point. As we are seeing the ending wave of the five-wave impulse its further development would be expected to end around the vicinity of the 0.618 Fib level and proper interaction with the price potentially exceeding it on the spike up. This would be the completion of the five-wave impulse which started on the 7th of July and is the third wave out of the upward structure from the 2nd of July. Previous to the five-wave increase a corrective triangle has been seen forming which was according to my count the B wave out of the upward ABC three-wave move. This three-wave move would be the X wave of the higher degree count which is why after its completion which is set to develop very shortly I would be expecting a move to the downside as the third wave Y should develop. Another possibility would be that the correction ended on the first three-wave move which are only the sub-waves of the W wave according to the current count. If that is true, then we could be seeing the development of another five-wave move instead of the three-wave ABC correction to the upside. In either way, from here I would be expecting a move to the downside and if the price falls below the lower interrupted blue horizontal level on the retracement I would indicate that the move to the upside has ended on the third wave and is corrective and not impulsive. ## Ethereum ETH/USD Forecasting From yesterday’s high at$317.62 the price of Ethereum has decreased by 4.61% measured to its lowest point today which is at $302.98. The price has recovered since and came up to around$314 after, but is currently being traded at $309. Looking at the 15 min chart, you can see that the price is currently retesting the 0 Fib level for support as a minor breakout above occurred. The price is likely to find support at the present levels as a breakout occurred on the prior high as well and has shown the absence of strong seller’s pressure. As we are seeing the development of a five-wave impulse to the upside from 5th of July its ending wave’s development would now likely mean further increase but only for a short while as the next significant horizontal level is getting close. This is the ending point of the prior high and the support point of the impulsive move’s ending point and now serves as significant resistance. If we are seeing a three-wave ABC to the upside out of which the mentioned five-wave impulse from the 5th of July is the C wave, the price is set to start moving to the downside after its completion, below the ending point of the first ABC to the downside which is at$276.

Upward ABC would be the second wave out of the higher degree three-wave correction which is why the third one would be expected to end on a lower low compared to the first ABC correction which would be its first wave. The most optimal target point of the expected decrease would be around the intersection of the lower ascending level which represents an uptrend support level and the 0.236 Fib level which is at $260.5. There is a possibility that instead of the price ending its increase from the 5th of July on the third wave, we see it developing in a five-wave manner which will indicate impulsiveness instead of the currently presumed corrective momentum. In that case, the price of Ethereum cannot go below$296 which is the territory of the 2nd wave on which the price cannot enter on the 4th if we are seeing a five-wave increase which is why the level is serving as a significant pivot point.

## Litecoin LTC/USD Forecasting

From yesterday's high at $124.6 the price of Litecoin decreased by 5.37% as it came down to$117.9 at its lowest point today. The price came down to the same low level after a recovery attempt has been stopped out at $119.95, but the price is currently being traded around$119.180.

On the 15 min chart, you can see that the price of Litecoin came down to the first significant horizontal support level which is the lower outline level off of the horizontal range in which the price action is bouncing from 5th of July. Including the price action from the day before we have seen the formation of a cup and handle pattern with the price continuing to form the handle structure from yesterday's spike abode the significant horizontal level at $122.32 which is considered as the median point of the higher degree resistance range. As the price failed to keep up the upward momentum and instead left a spike to the upside falling down fast below the significant horizontal level indicating strong resistance is present above, we have seen a retest of the lowest support level from the mentioned pattern. The price has recovered slightly but again failed to exceed the median point of the horizontal range from 5th which got broken in the second half of yesterday's trading session. The recovery has developed a retest of the median point and another retest of the support level from the horizontal range with the price currently holding above its half range line. I would be expecting another minor increase which could be another retest of the today's high after which another downfall below today's support level. Even though the handle still hasn't been broken we have seen the price retracing back to the cup's support level which could be viewed as a breakout. In either way, I would be expecting a retest of the$114.31 horizontal level which was low from the 2nd of July and was the ending point of the five-wave impulse to the downside after which a corrective ABC to the upside has been seen. This is why I think that a breakout from the downside would lead to the formation of another impulsive move which would set to push the price of Litecoin back inside the lower range below the resistance zone at $109. ## Conclusion The price’s of the major cryptos are starting to reach their significant resistance point on the corrective increase whos continuation we’ve seen in the last 24 hours. As the prices are approaching their signifiant resistance levels, after an interaction I would be expecting another downturn in the market. ### Price Analysis # Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) Price Prediction for Today’s Top Cryptocurrencies Published on ## BTC/USD From yesterday's high at$13212 the price of Bitcoin decreased by 21.23% as it came down to $10407 at its lowest point today. Yesterday's high was an interaction with the significant 0.618 Fibonacci level which ended as a rejection and caused the price to start moving to the downside in an impulsive manner. Looking at the hourly chart you can see that the price came below the 0.5 Fibonacci level and stopped out at the minor ascending trendline from the from 10th of June from when the last five-wave impulse started developing. As the price found support there an immediate recovery has started which managed to pull the price back above the 0.5 Fib level and is currently being traded at$118816, slightly below today's high at $12012. The price recovered by over 14% today measured to the lowest spike to the highest point today but it appears that strong resistance has been encountered as indicated by the last hourly candle. This recovery appears to be correctional and is most likely the 2nd wave out of the starting downtrend. I wouldn't expect it to go above$12451 which would be a 0.618 Fib from the impulsive decrease if the corrective movement is in play.

We've seen the completion of the five-wave impulse from 10th of June which could have been the 5th wave from the higher degree count which I believe that it was. If this is true, then we are going to see further downside for the price of Bitcoin in the upcoming period as a correction of the same degree should develop.

On the hourly chart, you can see that I've projected a target to around $6914 but the price of Bitcoin could go significantly lower as it would be only the first wave to the downside. The five-wave move might not develop and we could instead see a three-wave correction to$8500 before further upside continuation but considering the seller's momentum seen from yesterday, I don't believe that Bitcoin's price is going to continue increasing further.

## Key Takeaways: XRP/USD

• Ripple price traded to a new monthly high at $0.4625 and recently corrected lower against the US Dollar. • XRP/USD is testing the$0.4320 support and a major bullish trend line on the 2-hours chart (data feed from Bitstamp).
• Bitcoin price is also correcting lower from well above $9,400 and Ethereum price is currently below$270.00.

## Ripple Price Analysis

Earlier this week, bitcoin price extended gains above $9,300 and$9,400. It helped ripple and its price recently started a strong rise above the $0.4200,$0.4320 and $0.4400 resistance levels. XRP even broke the$0.4500 level and traded to a new monthly high.

Looking at the 2-hours chart, ripple price even traded above the $0.4600 level and settled well above the 50 simple moving average (2-hours, purple). A high was formed at$0.4625 and recently, the price started a sharp downside correction.

There was a break below the $0.4520 support and the 50% Fib retracement level of the recent wave from$0.4254 to $0.4625. Moreover, the price broke the$0.4400 support level.

It is currently testing the $0.4320 support and a major bullish trend line on the 2-hours chart. The 76.4% Fib retracement level of the recent wave from$0.4254 to $0.4625 is also acting as a support. If there is a downside break, the price could test the main support near the$0.4255 level. As long as ripple price is above $0.4255, it is likely to bounce back in the near term. An initial resistance is near the$0.4400 level, above which ripple is likely to continue higher towards the $0.4480 and$0.4500 levels. If the bulls regain strength, XRP price could even retest the $0.4625 swing high. Overall, ripple price is trading with a strong bullish bias above$0.4255 and $0.4150. Therefore, there are high chances of a fresh increase above the$0.4400 and \$0.4480 resistance levels in the coming sessions.

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