Friday, August 23, 2019

Ripple (XRP) Prices in Consolidation Mode Despite Institutional Demand

This post was originally published here

Ripple (XRP) prices are firm above 30 centsXRP sales in Q2 2019 topped $251 millionRipple’s Q2 2019 XRP market report is enlightening. Revealing the level of XRP demand, investors now know that institutions form the bulk of buyers. In the medium-to-long term, this will help strengthen bulls targeting 50 cents and 80 cents respectively.Ripple Price AnalysisFundamentalsBefore shifting strategy, Ripple’s solutions were meant for institutions. As a distributed ledger technology firm with interests in global payment, their decision to focus on individuals is proving to be a stroke of genius. Not only are they positively impacting livelihoods, but statistics reveal that deep-pocketed institutions are interested with XRP.The coin is both a utility and a liquidity agent, useful for xRapid. Hints of demand were made clear from the recent market report, detailing Ripple’s progress in Q2 2019. Emerging from the brief is the irrefutable interest of XRP from institutions.For example, in Q2 2019, the total sale of XRP rose by 48 percent to $251 million from $169 million of Q1 2019. From this, the demand from institutions was 73 percent of the total sales.In summary, these are Q2 2019 highlights as drawn from the XRP market report:The overall market capitalization of digital assets sharply increased in Q2.Ripple sold $251.51 million XRP in Q2 2019 and is substantially reducing future sales of XRP.Given the concerns about overstated market trading volumes, CryptoCompare will be Ripple’s primary benchmark for XRP market volume going forward.Three billion XRP were released out of cryptographic escrow, 2.10 billion returned to escrow.XRP is now listed on over 130 exchanges worldwide.Candlestick ArrangementsRipple XRPFrom an investor’s perspective, the involvement of institutions is unequivocally bullish. Besides, Ripple’s plan of improving transparency is a big plus.


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