Ripple (XRP) Analysis | News | Description

The ripple coin XRP has shown some great trading action in the last few days. The price is up almost 20% in the last 1 week. Ripple (XRP) is viewed as the cryptocurrency to invest in according to many cryptocurrency experts. XRP is the third largest cryptocurrency by market capitalisation after Bitcoin (BTC) and Ethereum (ETH) and is currently the most stable cryptocurrency at the moment. XRP is known to be a stable coin that is not subject to any volatility.

For the past couple of days, I’ve been thinking about ripple (XRP) and how I would want to analyze it. There is so much speculation around this coin these days and I want to see if I can shed some light on it. Are there anything to it? And how does it compare with other cryptocurrencies?

Ripple (XRP) is a cryptocurrency that was coded by a young entrepreneur named Jed McCaleb, who is now a millionaire from the XRP (ripple) token. The money he made from his 3-year old company, Mt. Gox, grew into a multi-billion dollar market cap. Ripple has a 100-billion dollar market cap, and the developer team is continually working to improve the protocol and make it more decentralized. Recently, the inclusion of XRP in the SWIFT payment system (worth about $10 billion) has helped increase the liquidity and usage of XRP, as well as other altcoins.. Read more about xrp news today and let us know what you think.

AltFINS experts perform technical chart analysis of the top 30 cryptocurrencies in addition to automated chart patterns. These are known as Curated Charts, and they assess five key technical analysis principles: Trend, Momentum, Patterns, Volume, Support, and Resistance.

Technical analysis of Ripple (XRP):

Trade setup: Was rejected at $1.25 resistance after reaching extremely overbought (RSI>80) levels. Wait for 1) break above $1.25 or 2) pullback to near $1.00 support. (set a price alert). Price moved up following news of opening up a remittance connection between Japan and Philippines.

Short- and medium-term trends are up, whereas long-term trends are down.

Bullish momentum is present, but it is waning. Although the MACD Line is above the MACD Signal Line and the RSI is over 55, momentum may have peaked since the MACD Histogram bars are fading, indicating that momentum is fading.

The On Balance Volume (OBV) is increasing, suggesting that traffic on up days exceeds volume on down days. As a result, demand (buyers) outnumbers supply (sellers).

Support and Resistance: $1.00 is the closest support zone, followed by $0.75. The closest Resistance Zone is $1.25, which it breached, followed by $1.75.

Here is a live chart of Ripple (XRP).

More curated charts for the top 30 coins can be seen here.

Recent research and news:

Between Japan and the Philippines, a Ripple On-Demand Liquidity Corridor has opened.

In the ongoing Ripple v. SEC litigation, XRP has gained an advantage.

177.6 million XRP is moved between Ripple, Binance, and Coinbase.

Why XRP Holders Might Be Crucial In Ripple Labs Lawsuit

Institutional Investors Are Becoming More Acceptant of XRP

Ripple CEO on XRP Escrow Burning: “I Don’t Rule Anything Out”

More real-time news may be found here.

What is Ripple (XRP) and how does it work?

On the altFINS portal, you may read the entire description as well as the latest news.

Overview

XRP is a cryptocurrency that aims to speed up and lower the cost of money transfers between financial institutions. XRP serves as a bridge currency for financial institutions transferring value between various fiat currencies, and it underpins Ripple’s xRapid product, an on-demand liquidity solution. The XRP Ledger is an open-source cryptographic ledger powered by a peer-to-peer network of nodes, and XRP is its native coin.

History

Founded in 2012 by Chris Larsen and Jed McCaleb, Ripple (Formerly known as Opencoin) is a technology company that develops the Ripple payment protocol. Ripple enables banks, payment providers, digital asset exchanges, and corporations to send money globally using blockchain technology. Leveraging the prior work of Ryan Fugger, in 2012 Ripple created the XRP Ledger (formerly known as Ripple Consensus Ledger), an open-source cryptographic ledger powered by a peer-to-peer network of nodes. XRP is the native asset of the XRP ledger. In 2004, Ryan Fugger founded RipplePay, a financial technology company aiming to create a peer-to-peer payments network. Separately, in 2011, a team of Jed McCaleb began the development of a new consensus network for digital currencies that would ultimately become the XRP Ledger. Later Chris Larsen, David Schwartz, and Arthur Britto, would join the project, and in 2012 McCaleb and Larsen approached Ryan about RipplePay. After discussion with the RipplePay community Ryan handed over the project to McCaleb and Larsen, and in September 2012 they founded Opencoin (re-branded to Ripple Labs in 2013). In 2013 Ripple released XRP, a native token on the Ripple Consensus Ledger. At launch, it created 100 billion XRP tokens of which 80 billion tokens were allocated to the company and 20 billion were given to the three founders. Over the course of 2013, Ripple would raise over $7.5 million from some of the most prestigious venture firms in the united states. Later that year Jed McCaleb would leave the company over internal disputes around the company’s vision and would ultimately go on to found Stellar. After the initial release of the XRP Ledger, Ripple focused its efforts on getting financial institutions to use the ledger to process remittances. Entering the cross border payments market led to regulatory scrutiny, with FinCEN fining Ripple Inc for violating the bank secrecy act in 2015. As part of the remedial plan related to the fine, Ripple Inc agreed to enhance the anti-money laundering capabilities of the XRP protocol and stricter permissioning requirements were added for additional participants to join the network. To further enhance the credibility of XRP as a partner for traditional financial institutions, Ripple obtained a BitLicense from the State of New York in 2016. The upside of these enhancements and engagement with regulators was it gave XRP the capability to more deeply integrate with the traditional financial system. Today XRP’s primary use is as a bridge currency underpinning Ripple’s xRapid product, an on-demand liquidity solution. xRapid allows financial institutions to exchange value between fiat currencies through a network a digital asset exchanges that use XRP as a bridge currency for its liquidity. To date Ripple has raised over $120 million in venture funding, and XRP is one of the largest cryptocurrencies in the world by market capitalization. Ripple and its founding team own the substantial majority of the XRP supply of which Ripple the company programmatically sells on a quarterly basis. Since 2016 Ripple has sold over $1.1 billion worth of XRP and XRP sales remain Ripple’s dominant source of revenue (and controversy).<

Details on the Supply Curve

The deflationary nature of the XRP outstanding supply is intentional. XRP is used to pay transaction fees on Ripplenet. XRP’s liquid and circulation supplies, however, are highly inflationary. Ripple put 55 billion XRP into escrow in December 2017 to allay fears that a large quantity of XRP might flood the market at once, causing significant price volatility. 1 billion is distributed each month to fund Ripple’s continuing Ripplenet operation. At the end of the month, any unused money are returned to escrow. Each month, Ripple re-escrows 700 million XRP and 300 million XRP become liquid. Ripple’s income comes from continuing XRP sales, which account for more than 90% of the company’s total revenue. The firm reports two different kinds of XRP sales: Sales using a programmatic approach: These are derived from the company’s XRP reserve and may be traded on specified exchanges at a rate of no more than 0.25 percent of average daily volume. Direct XRP II sales: These originate from direct customized agreements with institutional customers, and contain resale limitations (per Ripple’s 2016-2017 disclosures) to guarantee that its partners don’t buy XRP at a discount from the firm and then sell it all at once. Through Direct Sales and Programmatic Sales, Ripple has sold approximately 1.2 billion USD worth of XRP. To compute liquid supply, our liquid supply curve considers the Ripple Escrow mechanism as well as the Founder’s selling agreement. As a result, although XRP’s outstanding quantity is deflationary over time as a result of fee-burning, the circulating and liquid supply is enormously inflationary as a result of escrow release, founder’s payouts, and Ripple sales. At the present burn rate, the XRP Ledger would take 20 years to burn what Ripple and its founders distribute every day. Messari has published in-depth studies on Ripple supply management to date: Circulating Supply Study for XRP suggests that the market capitalization of XRP may be inflated by $6.1 billion.

Messari provides asset profiles. Messari hosts the original version.

Ripple (XRP) is a good option for short term investments. Ripple has a sky-high market capitalization and the dollar price is what matters, not the amount of coins you buy. The market cap of Ripple is $16.3 billion and the dollar price is $0.39.. Read more about xrp (ripple) and let us know what you think.

This article broadly covered the following related topics: