Ripple’s ambition is to make the cross-border transfers a better experience by providing decentralized financial tools and having a strong partnership. This partnership would strengthen them to overtake other strong competitors like Coinbase.
Mother luck finally smiled at the Fintech company when it started partnership negotiation with the National Association of Securities Dealers Automated Quotation exchange NASDAQ.
This negotiation has been on for about four months now, with Ripple pushing to have its $XRP amongst the first set of coin to be listed when Nasdaq launches its crypto platform in 2019.
“The back and forth has been ongoing for better than four months and $XRP is set to be one of the initial coins listed when @Nasdaq launches its crypto initiative in early 2019. Nasdaq listing XRP early 2019 is huge news and makes coinbase irrelevant! #XRP.”
According to the dialogue that has been going on so far between sources from both parties, this collaboration is focused on market capitalization that will place $XRP in a parallel position with ethereum.
According to a report from abacusjournal.com, a source from Nasdaq revealed that the exchange is not interested in all the noise going on in the crypto market, but scalability. They cannot afford to sideline $XRP which happens to be among the top five security coin by market capitalization, in launching their crypto initiative in 2019.
He went on to explain that Ripple’s cryptocurrency has attracted as much focus as bitcoin cash, and if bitcoin cash is listed across all the exchanges, $XRP should as well. Nasdaq has evaluated Ripple executives and credited them as well organized and classified, so is ready to accept what they have to offer.
Another source from Nasdaq also revealed to the journal that Ripple and its crypto $XRP is likely going to be the second largest cryptocurrency in the nearest future. So the reason for including $XRP in the initial offering is obvious since the main focus is on market capitalization.
The source went further to explain that based on Ripple management team and its level of operation in the banking industry, it meets all Nasdaq standard set for market capitalization. Ripple has been compliant to due diligence, making its management team available for the ongoing arrangement, the scalability of their coin is an added advantage.
Ripple may not be focusing on taking the first position in the crypto market. Its aim to dominate the financial and business sector with its decentralized financial tools is likely achievable with this new listing.
Ripple Says Sales of XRP Cryptocurrency Grew 31% in Q1
Blockchain payments startup Ripple has reported a 31 percent increase in sales of XRP over the first three months of the year.
The San Francisco-based firm sold a total of $169.42 million in XRP in Q1, compared with $129.03 million in the previous quarter, it announced Wednesday.
Ripple further said that direct institutional sales of XRP totaled $61.93 million in Q1 – 54 percent more than the previous quarter. Programmatic sales of the cryptocurrency, meanwhile, grew from $88.88 million to $107.49 million, an increase of 21 percent.
It’s not all good news, though. The total volume of XRP traded globally decreased by about 2 percent to reach $53.85 billion in Q1 as compared to $54.82 billion in Q4 of last year.
Further, looking at the year-on-year figures, XRP sales have not shown significant growth. In Q1 of 2018, the firm sold $167.7 million-worth of XRP, which is just 1.03 percent less than Q1 of this year.
Ripple said that it released 3 billion XRPs out of escrow accounts in Q1 2019 and additional 2.30 billion XRPs were returned and put into new escrow contracts. “The remaining 700 million XRP not returned to escrow are being used in a variety of ways to help support the XRP ecosystem,” the firm explained.
XRP, the third largest cryptocurrency by market capitalization, is now listed on around 120 exchanges, as 19 new exchanges moved to list the cryptocurrency in Q1 2019, according to Ripple’s data.
January to March 2019 was also the second-lowest volatility quarter since Q4 2013 for XRP, Ripple added, as “rolling volatility of 30-day returns steadily declined throughout the quarter.”
Ripple’s Q1 sales account for 0.32 percent of XRP’s global volume, reveals report
Ripple, a leading U.S based Fintech company providing payment settlement solutions, released its Q1 report for the year 2019. The report provides insight into the amount of XRP taken out from the escrow account, the firm’s financial progress, and an overall update on the XRP market.
The report stated,“Ripple’s Q1 sales accounted for 0.32 percent of global XRP volume. Three billion XRP were released out of cryptographic escrow, 2.30 billion returned to escrow. XRP is now listed on approximately 120 exchanges worldwide”
The report also stated that Ripple withdrew 1 billion XRP each from its escrow account over the last three months, a total of 3 billion XRP. Out of this, over 700 million XRP was used for the development of the ecosystem, while the remaining 2.3 billion XRP was deposited back into its escrow account.
Notably, the report stated that the firm sold $169.42 million worth of XRP in the first quarter, an increase to 0.32 percent from 0.25% in Q4 2018, in terms of sales in global XRP volume. On one hand, institutional direct sales also saw a significant increase from 2018 Q4, growing from $40.15 million to $61.93 million. On the other hand, programmatic sales also saw a massive hike from 2018 Q4, rising from $88.88 million to $107.49 million.
Cryptopolis, a Twitter user, commented,
Tony Valentino, another Twitter user, said,“Market manipulation at its finest.”
Ripple (XRP/USD) forecast and analysis on April 25, 2019
Cryptocurrency Ripple (XRP/USD) is trading at 0.3197. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Ripple. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.
Ripple (XRP/USD) forecast and analysis on April 25, 2019
As part of the forecast Ripple course is expected to test the level of 0.3270. Where should we expect an attempt to continue the fall of XRP/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 0.3020. The conservative Ripple sales area is located near the upper border of the Bollinger Bands indicator at 0.3290.
Cancellation of the option to continue the decline in the Ripple rate will be a breakdown of the upper border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of quotations of the pair above the 0.3320 area. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.
Ripple (XRP/USD) forecast and analysis on April 25, 2019 implies a test level of 0.3270. Further, it is expected to continue falling to the area below the level of 0.3020. The conservative area for selling Ripple is located area of 0.3290. Canceling the option of falling cryptocurrency will be a breakdown of the level of 0.3320. In this case, we should expect continued growth.