In a post published on Ripple’s official website, Cory Johnson & Miguel Vias presented a summary of the company’s financial situation, demonstrating not only Ripple’s transparency but its continued growth in a difficult and relatively discouraging market.
Logos of XRP (left) and Ripple (right)
In Q3 2018, “” shows that Ripple managed to sell $163 Million in XRP, despite the volatility and negative behavior of the overall market. According to the report, $65.27M were sold by the company while the rest were sold by a subsidiary registered as a Money Service Business (XRP II, LLC).
This XRP News shows that sales of Ripple’s token outperformed those of the past quarter. While Q3 totaled $163.33 million, Q2 reported an inflow of $73.53 million to the company.
Ripple Talks About its Strategies to Promote Price Stability
Another highlight is Ripple’s handling XRP tokens to promote price stability.
The company has restricted the total of circulating XRPs. However, during Q3, a portion of the frozen funds was released at a steady rate. Of that amount, part of the funds was allocated to new escrow contracts and unspecified actions meant to ” support the XRP ecosystem:”
“In Q4 2017, Ripple locked up 55 billion XRP in a cryptographically-secured escrow account. Ripple created the lockup to create certainty of XRP supply at any given time. Due to that lockup, Ripple has access to only 13 percent of the total XRP in circulation. Ripple’s sales were a tiny fraction of that amount.
In Q3 2018, 3 billion XRP was again released out of escrow (1 billion each month). 2.6 billion XRP was subsequently put into new escrow contracts.
The remaining 400 million XRP not returned to escrow is being used in a variety of ways to help support the XRP ecosystem”.
XRP NEWS: The New Trend on Specialized Media
In recent months, Ripple has been one of the companies with the most media coverage within the ecosystem. Its growing number of strategic partnerships has improved its negative image in the community.
Also, the good XRP News from the Swell conference and the release of allowed a brief bullish moment that to a figure higher than Ethereum’s, demonstrating that Ripple has enough merits to become the king of altcoins in a short time.
Ripple’s XRP has been quite stable during the last 2 weeks. After its abnormal price surge, the token fell to previous levels. Its price now fluctuates near the 0.45$. This stability trend is similar to that of many other cryptocurrencies.
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In spite of depressed prices, cryptocurrency traders, industry leaders, and commentators from across the globe have been postulating where bitcoin (BTC) could move next, as rapidly declining volatility has left many impatient. While most predictions have been nothing more than fluff — not backed by true technical, fundamental, or quantitative analysis — there have been a few diamonds in the rough, if you will, that have struck a chord or two with optimistic BTC investors.
Speaking with , Rob Sluymer, head of technical research at New York-based Fundstrat Global Advisors, recently claimed that the nascent crypto market may be expressing a number of positive signals, contrary to popular sentiment.
Sluymer explained that there have been a growing number of “Silver Linings” developing in the “crypto universe,” even while prices haven’t budged one bit. BTC, for one, has been wedged in a $100 price range ($6,450-$6,500) for the past 10 days, which is nearly unheard of when it comes to the (not so) volatile cryptocurrency economy.
The prominent analyst, who hasn’t been afraid to express his interest in crypto , elaborated, stated:
While it is still premature to conclude a major upside trend reversal is broadly under way, each week we have highlighted an incremental ‘Silver Lining’ developing within the crypto universe.
With this bullish statement, you may be left asking — so… what are these Silver Linings that Sluymer speaks of?
The Fundstrat technical expert, who is in cahoots with (also of Fundstrat), noted that contrary to what one may assume, declining volatility and low volumes could be seen as “encouraging technical developments.” Moreover, Sluymer explained that there have been a series of positive divergences between many altcoins and larger caps, such as bitcoin and Ethereum, that are again, “encouraging.”
While the aforementioned technical factors may catalyze bullish sentiment, Sluymer, closing off his comment, pointed out that for bitcoin to truly break the bull/bear standoff, it will have to surge above September 2018’s highs, which are a tad above $7,200.
Crypto Volatility (Somehow) Continues To Move Relatively Lower
, in the aforementioned statement, Sluymer claimed that dropping volatility in bitcoin and crypto asset markets could indicate that cryptocurrency values are poised for a rebound (and a strong one at that).
Earlier last week, reported that bitcoin’s 20-day historical volatility (HV) had fallen under the HV values of Amazon, Nvidia, and a number of other tech firms, which have all been undergoing a tumultuous price trend as of late. Now, as revealed by Eric Lam and Matt Turner, the volatility disparity between bitcoin and technology stocks listed on the NYSE has worsened, with the two claiming that the “spread between the 10-day volatility of the NYSE FANG+, which includes Alibaba Group Holding, and that of the digital currency is at a record high.”
While the relationship between bitcoin and the stock market’s volatility has yet to be researched in-depth, many analysts maintain their thought process that slowing price action in the cryptocurrency space could indicate that values are reaching an inflection point, which may send BTC ‘to the moon’ or into ‘the dumps’.
Title Image Courtesy of Andre Francois via Unsplash
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