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Ripple Price Analysis – Technicals suggest a continued bull trend

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Ripple (XRP) rose to meteoric heights in December 2017, reaching what some are calling ‘Big Mac’ parity, only to pull back over 80% in January. The market cap now stands US$105.6 billion, with US$2.65 billion in trading volume over the last 24 hours.

XRP the token is a separate entity from other companies with the same namesake, including the banking network RippleNet (originally Ripple Labs), the social network Ripple Works, the advertising company Ripple Media, and the plant-based milk company Ripple Foods.

While XRP aims to disrupt the remittance and cross-border payment industry generally, the main goal of RippleNet is to take on SWIFT, a telecom cooperative created over 40 years ago that is currently used to send secure financial messages between banks. These messages exclude clearing or settlement.

Ripple recently celebrated its fifth birthday, having been created in 2012, and now claims over 100 financial and banking partnerships around the world, most recently with the Saudi Arabian Monetary Authority. However, a Bloomberg article on January 25th suggested banks “have no interest in using XRP.”

The network has an existing supply of ~100 billion, 55 billion of which was placed in escrow in December 2017. By securing the lion’s share of XRP in escrow, anyone can now mathematically verify the maximum supply that can enter the market, and eliminates any concern that Ripple could flood the market. Taking this into account, the circulating supply stands around ~US$46.48 billion.

According to recent Bitmex research, 7 billion XRP was held by Ripple as of January 31st, 39 billion XRP has been distributed, and 55 billion XRP remains in escrow. Distribution and internal holdings have fluctuated over time with supply estimates based on available data from 2013-2015 unable to reconcile “how many XRP were sold, at what price, or how many were given away” according to the research team.

However, Ripple states that market participants purchased US$20.1 million in Q4 2017. These participants tend to be institutional buyers, and their purchases typically include restrictions that mitigate the risk of market instability due to potential subsequent large sales. Additionally, the company sold US$71.5 million worth of XRP programmatically, as a small percentage of overall exchange volume.

Ripple Price Analysis 12 Feb 2017 2

Source: BitMEX Research, Ripple.com

XRP transactions per day have steadily increased in an upward trend since 2014. The network, RippleNet, is composed of; xCurrent, which processes global payments for customers; xRapid, to source on-demand liquidity; and xVia, to plug into RippleNet to send payments.

It was recently announced that xCurrent will be used Chinese ecommerce company LianLian international. Non-bank financial services institution, Cuallix, recently became the first worldwide institution to use xRapid, reducing the cost of sending cross-border payments from the U.S. to Mexico. Moneygram, a remittance service, is also piloting a xRapid program.

Ripple Price Analysis 12 Feb 2017 3At US$0.0067 currently, XRP has the cheapest average transaction cost among other high cap coins (not shown). XRP, Ethereum Classic, and Dogecoin have had a similar fee market over the past few months with Zcash consistently cheaper than all others. For the most part, transaction fees denominated in USD rise and fall in line with the cost of the coin itself.

Ripple Price Analysis 12 Feb 2017 4The network value to estimated on-chain daily transaction (NVT) ratio can be used to assess the network’s relative utility over time, although NVT is difficult to compare between coins which use different transactions types. The XRP NVT ratio has been trending lower since July 2015 suggesting transactional use has increased since that time, reaching a low of 75 in January.

Ripple Price Analysis 12 Feb 2017 4Exchange traded volume is largely led by Korea (KRW) with a >5% premium on Bithumb, an exchange with fee-free trading which inherently inflates reported volume data. XRP has been the most popular market added to Bithumb since being added in May 2017. XRP is not nearly as widely traded in JPY or CNY, largely due to trading pair availability and continues to be added to exchanges around the world, most recently Zebpay in India.

Ripple Price Analysis 12 Feb 2017 5Technical Analysis

While traders normally use charts from the highest volume exchange, the more broad XRP/Tether (USDT) market has the most available data. These charts show that the explosive gains from late December have been erased.

Indicators like Ichimoku Cloud, Exponential Moving Average (EMA), and chart patterns can be used to determine if the trend remains bullish. Details of the indicators and methods used can be found here.

XRP had been in a bullish triangle consolidation pattern throughout 2017, while holding above the 100EMA on the two-day chart and the 200EMA on the daily chart. After the initial breakout, price found resistance at the yearly R1 pivot and 7.618 fib extension.

Ripple Price Analysis 12 Feb 2017 6A bearish double top pattern has begun to form on high timeframes. However, due to the sharp inverted V structure, an Adam-Eve or Adam-Adam is possible. Horizontal support for the pattern is ~US$0.70. Despite the pattern being bearish, this would suggest a gain well North of US$2.50.

Ripple Price Analysis 12 Feb 2017 7The  Ichimoku Cloud metrics on the daily chart are all bearish, with a potential bearish Tenkan bounce at the current price level. However, the distance between the Kijun (mean) and Tenkan suggest that XRP is heavily oversold.

If price cannot break the Tenkan, bearish continuation is strongly indicated. A long, flat Kumo at US$1.73 is a magnet for price so long as price does not make a lower low. Should bullish momentum exist, a push to that zone, near the Kumo twist on February 26th, is likely.

Price has also held above the 200EMA, just as it did during a multi month-long period triangle consolidation pattern. Price will likely continue consolidating between the 50EMA and the 200EMA until either level is broken, with higher volume.

Ripple Price Analysis 12 Feb 2017 9The Ichimoku Cloud on the four hour chart also is decidedly bearish, but price has broken the Cloud for the first time since dropping below the Cloud in January. This is the earliest indication of a trend reversal. A long entry signal would follow a bullish Kumo breakout and bullish Kumo twist, and/or a bullish 50/200EMA cross.

Ripple Price Analysis 12 Feb 2017 10Lastly, the trading in the bitcoin (BTC) market indicates that XRP has bounced off a key horizontal level and broken the 50EMA after completing a bullish reversal chart pattern, the falling wedge. XRP fell from this level after forming a bearish descending triangle in May. The measured move and 1.618 fib extension yield a projected target zone of 20,000-25,000 Satoshis.

Ripple Price Analysis 12 Feb 2017 11Conclusion

XRP is a controversial cryptocurrency for several reasons. First, the supply and consensus mechanism suggests that XRP is neither distributed nor decentralized. While nothing is inherently wrong with this, it can be misleading to newcomers who do not understand the differences and nuances between blockchain projects.

Second, major news outlets have reported banks having no interest in actually using XRP, yet RippleNet continues to announce partnerships with multiple banks and companies around the world, seemingly fulfilling their mission to bring broader adoption of the XRP network across the globe – beyond just speculation.

Technicals suggest a continued bull trend, after a return to the mean from being heavily overbought. A USD value of $2.50 and a BTC value of 20k sats is likely within the next few weeks, should the trend continue with its current momentum.

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Bitcoin: New way to launder income of Mexican cartels

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Mexico City.- Some of Mexico’s main criminal organizations laundered their profits globally through the use of virtual currencies such as Bitcoin. The above according to the report National Evaluation of Drug Threat 2017, prepared by the Drug Control Administration (DEA).

In this regard, the institution noted that China has become a major center of money laundering, for which large shipments are used from the Asian country, where cryptocurrencies have become very popular currencies.

In previous years, the preferred methods were money transfer systems. Today bitcoin and other virtual currencies allow cartels to transfer illicit profits on an international scale, ‘the report says.
For this reason, the PGR and the DEA decided on Wednesday to form a joint team to combat the financial networks of drug trafficking, a strategy that promises to be more effective than capturing the leaders of criminal gangs.

In previous years, the preferred methods for moving and laundering illicit profits, ie the smuggling of bulk money, was to use money transfer systems, money laundering based on commerce and the formal banking sector. Today, bitcoin and other virtual currencies allow cartels to easily transfer illicit profits on an international scale, ‘the DEA informed.
He added that for 2017 the sale of drugs in the US, represented profits of 64 billion dollars, 21 percent of all illicit money generated in that country at present.

Meanwhile, a second study noted that currently half of the bitcoin transactions are linked to drug trafficking, which means a total of 72 billion dollars. This goes hand in hand with a decrease of 27 percent in cases of confiscation of cash money by drug trafficking.

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Vault Coin (VLTC) Cryptocurrency Daily Volume at $1 as Price Down to $0.000064

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The cryptocurrency market took a massive tumble in the week following the SEC’s announcement that it would postpone its ruling on whether to allow the listing of the Cboe VanEck/SolidX ETF backed by Bitcoin (BTC) to September 30. When all was said and done, the total market capitalization dropped to as low as $189 billion, levels not seen since November of last year.

However, since hitting that low on Tuesday, the market experienced a fairly sizeable altcoin bounce that brought back more than $35 billion in total capitalization. The relief rally intensified late in the week as major blockchain projects announced significant exchange listings, technological milestones, and system updates.

As we head into the next week, investors will likely be keeping their eye on the price action of BTC, as it has been denied by the $6,500-$6,600 range multiple times and currently sits at around 51% market dominance. How BTC acts here will likely be indicative to the next major movement.

Here’s the rest of the week in review:

Binance LCX, a joint venture between Binance and LCX, has announced the launch of an upcoming fiat-to-cryptocurrency exchange. Binance is set to provide and maintain the platform, while Binance LCX manages customer support, due diligence, legal requirements, KYC, AML and government communications. Binance LCX plans to build a team of roughly 10-15 individuals to fulfill the venture in their Lichtenstein office.

Tyler and Cameron Winklevoss, the founders of crypto exchange Gemini, aren’t overly fazed by the recent SEC decision. Instead, while they wait for Wall Street and the SEC to get on board with crypto, the company will focus on expanding its product offering focused on retail investors.

Toshi, the Ethereum mobile wallet, has recently been rebranded as Coinbase Wallet. The Coinbase-developed app has been revitalized with a new name as the service merges into a larger effort to invest in products set to define the future of the decentralized web.

Bitmain, a leading ASIC chip maker and crypto mining hardware manufacturer, has more than $570 million in Bitcoin Cash (BCH) holdings, according to a pre-IPO investor deck. According to the documents, Bitmain has 1,021,316 BCH, which it purchased at an average price of $869. While this represented a total holding of around $887 million at the time of the statement, BCH has since fallen in value to $573, which means that Bitmain has suffered a ~$317 million loss in a little over a quarter.

This week’s market recovery was primarily driven by gains in VeChain (VET), Ontology (ONT), and NANO (NANO). The AltDex 100 Index (ALT100), a benchmark index for the industry’s leading cryptocurrencies and tokens, finished flat this week and currently sits at 79.40.

AltDex 100
Other cryptocurrency categories were relatively mixed over the last week. The AltDex Exchange Token Index (ALTEXC), a benchmark index for the industry’s leading exchange tokens, fell over 7% while the AltDex Privacy Coin Index (ALTPRV), which tracks tokens focused on privacy or security, is up around 2%. The new AltDex Masternode Index (ALTMSN), which tracks major masternode cryptocurrencies, dropped over 4%.

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IOTA, Vechain Lead Tepid Crypto Market Recovery on Sunday

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Vault Coin (VLTC) traded down -0.94 percent against dollar during the last day interval closing 11:00 on August 19th EST. Vault Coin presently has a marketcap of $1,950 and its 24 hour trading volume is around $1. Within the 7 day interval, Vault Coin is -0.16 percent against the dollar with a movement of 1.17 percent inside the last 60 minutes.

Now let’s take look at how similar cryptocurrencies have performed in the last 24h:

  • Stellar Holdings (HOLD) is currently at $0.00 against the USD, a -7.93 percent change since yesterday. The Bitcoin price of HOLD is currently at 0.00000004 BTC.
  • Eryllium (ERY) is currently at $0.00 against the USD, a -4.08 percent change since yesterday. The Bitcoin price of ERY is currently at 0.00000061 BTC.
  • ChatCoin (CHAT) is currently at $0.01 against the USD, a -1.15 percent changesince yesterday. The Bitcoin price of CHAT is currently at 0.00000215 BTC.
  • Pigeoncoin (PGN) is currently at $0.00 against the USD, a -1.91 percent changesince yesterday. The Bitcoin price of PGN is currently at 0.00000004 BTC.
  • PeepCoin (PCN) is currently at $0.00 against the USD, a -5.22 percent change since yesterday. The Bitcoin price of PCN is currently at 0.000000003 BTC.
  • Atmos (ATMOS) is currently at $0.01 against the USD, a -16.05 percent changesince yesterday. The Bitcoin price of ATMOS is currently at 0.00000133 BTC.

Vault Coin Info

Vault Coin has a max supply of 30,385,540 coins. It started on 13th October, 2016.

From cryptocompare.com: “VaultCoin is a Proof of Work cryptocurrency based on the X11 algorithm. You can pay or send money to anyone, anywhere in the world in the form of this internet currency for a low fee.”

Listed here are a few good links for those who wish to get more information concerning Vault Coin:

  • Website: 
  • Github: https://github.com/teamvltcoin
  • Twitter: Vault coin
  • Reddit: https://www.reddit.com/r/Vaultcoins/
  • Facebook: https://www.facebook.com/vaultcoinVLT/

VLTC: Info for Traders

People can obtain VLTC on exchanges such as CCEX, Novaexchange, TradeSatoshi, LiveCoin,

It’s not always viable to buy cryptos including Vault Coin right away using USD. Investors hoping to acquire VLTC may perhaps need to firstly buy Bitcoin or Ethereum from an market place which has got American dollar trading pairs such as Coinbase or perhaps GDAX. Traders can then use this BTC or Ethereum to invest in Vault Coin using one of the exchanges we detailed previously.

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