Ripple Executive: Crypto Payments in Early Stage Similar to E-Commerce

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Crypto Payments vs. E-Commerce: Ripple executive Reece Merrick compared the current crypto payment landscape to e-commerce in 2000, noting that online shopping accounted for only 0.2% of global retail sales, indicating that widespread acceptance of crypto payments will take time as consumers currently lack trust in these systems.
Importance of Infrastructure: Merrick emphasized that the growth of e-commerce relied on improved infrastructure, such as secure payment gateways and smartphones, and similarly, crypto payments require scalable blockchains, stablecoins, and user-friendly wallets to achieve mainstream adoption, highlighting the critical role of technological advancements.
Ripple's Strategic Focus: Ripple is concentrating on stablecoins, cross-border payments, and enterprise infrastructure, recently launching the MXNB stablecoin in collaboration with Bitsola to facilitate compliant settlements between the U.S. and Mexico, showcasing the company's strategic positioning in the crypto payment sector.
User Trust and Adoption: Merrick pointed out that the acceptance of crypto payments will depend on users' ability to transact without engaging with the underlying technology, akin to the evolution of e-commerce, underscoring the significance of user trust and secure systems in driving adoption.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.851	0.967	1.06	1.177	1.269	1.386	1.479
Fibonacci	0.967	1.047	1.097	1.177	1.257	1.306	1.386

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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