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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ripple (XRP) Prices in Consolidation Mode Despite Institutional Demand

Dalmas Ngetich
Dalmas Ngetich
1 year ago
3 mins read
Altcoins Technical Analysis

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  • Ripple (XRP) prices are firm above 30 cents
  • XRP sales in Q2 2019 topped $251 million

Ripple’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 Analysis

Fundamentals

Before 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 Arrangements

Ripple XRP

From an investor’s perspective, the involvement of institutions is unequivocally bullish. Besides, Ripple’s plan of improving transparency is a big plus.

Therefore, while XRP is flat-lining but trending above 30 cents, Q2 2019 report could shape investor sentiment. In that case, prices may correct higher in line with previous XRP/USD trade plans. Presently, there is liquidation pressure but XRP buyers are resilient.

As such, every retracement is an opportunity as reiterated before. For the risk-averse, trend continuation will be valid once prices edge past 40 cents, ideally boosted by above-average participation.

In light of this, aggressive traders can buy the dips with a fitting stop-limit just below 30 cents. The first target will be 40 cents. On the flip side, sharp losses below Q1 2019 primary support with high trading volumes would trigger a precipitous fall to 20 cents.

Technical Indicators

Because of the above, July 10 bear candlestick is leading. It pierced below the 40 cents support, now resistance. Furthermore, it is unique with high trading volumes of 40 million. As a result, any surge above 40 cents, ushering bulls, ought to be with high participation with similar or better trading volumes.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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