XRP Brief 10/5/19 – Big names flee Facebook’s Libra and XRP bottoming against BTC
This is the month we’ve been waiting for. Swell conference Nov 7-8 in Singapore is just around the corner. We should expect several announcements this month and Q3 report might hint at ramped up MoneyGram and other On-Demand Liquidity (ODL, formerly xRapid) volume. BTW, did MGI bottom out?
And certainly not bad news for project Ripple: After Visa and Mastercard, others like PayPal are reconsidering involvement in Facebook’s Libra network. Wary of attracting regulatory scrutiny, some of Libra’s early backers decline Facebook’s request to publicly support the project.
This is highly speculative, but chances are that Ripple’s involvement with regulators might draw Facebook closer to Ripple. The industry is certainly having another better look at Ripple’s approach and progress after learning that Facebook’s brazen attitude isn’t that productive.
Big XRP upvotes by big traders
Talking TA, trading legend Peter Brandt sees some evidence that XRP is bottoming against Bitcoin:
This comes a bit as a surprise from someone who is not exactly known as an XRP lover. Brandt respects Ripple as a company but believes that they grossly manipulate the token’s price.
Contrary to Brandt, trader Luke Martin with 211k Twitter followers calls XRP this month’s “favorite” altcoin. Bookmark his Twitter thread, he’ll update it throughout October and just added (what we’ve been saying here all along): “Still think that at some point in the next 30 days $XRP reaches the 4000 sats zone.”
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