Ripple Price Analysis: XRP Drop to Third, Coins Moved From OTC Distribution Wallets

Dalmas Ngetich

1 year ago

2 mins read

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Latest Ripple News

Margins are tight, and after a five-month stint at second, XRP is back to third. Despite high volume activities which XRP and Ripple sleuths point to “abnormal” movement of coins from Ripple owned Escrow addresses. For example, on Jan 1, 2.9 billion worth of XRP worth $1.1 billion at market prices were moved from several OTC Distribution and Escrow wallets for mere cents.

As expected, movements of such magnitude can be a cause of speculation and even unfounded hype—rumor now has it that Ripple is on the verge of striking yet another partnership. However, note that Ripple offers escrow services. It is on top of the decentralization plan in place.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 500,000,000 #XRP (177,226,199 USD) transferred from Ripple Escrow wallet to Unknown wallet

Tx: https://t.co/OGshmwbWhc

— Whale Alert (@whale_alert) January 1, 2019

Besides, this is not the first time large quantities of XRP are changing hands. As aforementioned, Ripple’s Escrow Feature is where parties can lock up their stash for a fixed period or until when certain conditions happen. Ripple explains saying:

“We use Escrow to establish 55 contracts of 1 billion XRP each that will expire on the first day of every month from months 0 to 54. As each contract expires, the XRP will become available for Ripple’s use. You can expect us to continue to use XRP for incentives to market makers who offer tighter spreads for payments and selling XRP to institutional purchasers. We’ll then return whatever is unused at the end of each month to the back of the escrow rotation. “

Ripple (XRP) Price Analysis

With a market cap of $14.78 billion, XRP is the third most valuable coin in the space. While prices caved in last year sliding more than 85 percent after peaking in late Dec 2017 and early Jan 2018, the shift in momentum in mid-Sept 2018 means we are bullish XRP.

Because of fundamental reasons and technical candlestick arrangements, we expect prices to edge higher in line with our previous XRP/USD trade plans. However, for bulls to be in charge, there must be hints on the chart, and that means above average volumes must accompany the up thrust above 40 cents as those recorded in Mid-Dec 2018.

That will not only confirm the ecstatic buys of Dec 17 and 24 but will set the ground rolling for further gains above Dec 2018 highs of 48 cents. This is our XRP/USD trade plan:

Buy: 40 Cents

Stop: 37 Cents

Target: 45 Cents, 55 Cents, 80 Cents (Sep 2018 Highs)

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

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.

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.