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XRP (XRP) trading at $0.36 on Gatehub: A good arbitrage opportunity

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Crypto prices vary between exchanges all the time. However, sometimes the difference is so large that it is bound to draw attention. One such differential in the price of XRP (XRP) on most exchanges-v-Gatehub. At the time of writing, there was a huge bearish candle on Gatehub, and XRP (XRP) was trading at $0.36, after hitting a low of $0.34. This could mean that someone placed a large sell order at this price level and it got filled, hence pulling the price lower. Check out the chart below.

While price manipulation, is nothing new in crypto, Gatehub comes across as a credible exchange. It has a wide offering of assets both crypto and precious metals and allows investors to trade cryptos directly on the ripple network. As such, the best bet is that someone sold a huge amount of XRP (XRP) at once, pushing the price down significantly, and it’s unlikely that it is a manipulated move.

Possible implications

The massive sell order for XRP on Gatehub is possibly nothing to worry about. That’s because Gatehub is a relatively small exchange and doesn’t have the volumes to have any major impact on the price of XRP in the last 24-hours, 77% of the XRP trades on Gatehub have been against the USD and they amount to about $1,700,000. This is negligible when compared to the overall XRP volumes in the last 24-hours, which are at over $648 million. This means that it is unlikely to have any adverse effect on the price of XRP (XRP).

Besides, this is a massive opportunity for arbitrage traders to drive the price up. The price difference between Gatehub and other exchanges is so huge that traders are likely to take advantage, by buying XRP on this exchange and selling at the market price on other exchanges. That’s because there is a higher chance of Gatehub prices catching up with the rest of the market than the other way round. This demand could push prices on Gatehub pretty fast, to reflect the prevailing price on market cap.

However, even in the scenario that the price breaks downwards, traders do have a heads up on a possible price floor at $0.34 – $0.36. This can help in mitigating risk, and placing more calculated buy trades at this price level, which is possibly a long-term support level.

Long-term projections

Beyond these short-term price movements, XRP’s long-term trajectory is up. Recently, Brad Garlinghouse stated that they expect at least a dozen banks will be using XRapid by 2019. Brad is someone in the know and probably keeps in touch with top banking executives all across the world. As such, his proclamation probably comes from his interactions with these top bankers.

His statement is a follow-up to one he made earlier in the year that at least one bank would be live with XRapid in 2018. End of year is still far away, and anything could happen between now and then. If a major bank embraces XRapid before the end of the year, then it could positively impact the value of this crypto, and give it a value boost before EOY.

Source:  Crypto Recorder

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Ripple Says Sales of XRP Cryptocurrency Grew 31% in Q1

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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.”

 

 

source:coindesk

 

 

 

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Ripple’s Q1 sales account for 0.32 percent of XRP’s global volume, reveals report

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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,

“I don’t know anymore then you, but their actions speak louder then words. They are out there building the xrp ecosystem. If you don’t trust them go find another project to crap on and sell your xrp now.”

Tony Valentino, another Twitter user, said,“Market manipulation at its finest.”Source: Twitter

@LiamLightmare said,

Source. ambcrypto

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Ripple (XRP/USD) forecast and analysis on April 25, 2019

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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.

Ripple (XRP/USD) forecast and analysis on April 25, 2019

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.

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