What is the Real Ripple’s Circulation Supply? Depends Who are You Asking. | ELEVENEWS
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What is the Real Ripple’s Circulation Supply? Depends Who are You Asking.

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Today Coinmarketcap, the most popular site for rank ordering cryptocurrencies based on market cap, circulating supply and other relevant data, sent out a tweet stating the following:

The link leads to a list of distributed and undistributed circulations numbers next to their particular date.

Just yesterday, ForbesCrypto tweeted that they had updated the circulating supply of XRP to 99,991,780,039, which is the same as the total supply. Meanwhile, Coinmarketcap still has the circulating supply listed as 40,327,341,704.

Coinmarketcap doesn’t show that the undistributed portion of XRP is circulating, and cites the link provided as evidence for it. Forbes, on the other hand, believes that the full quantity of XRP’s supply is currently circulating, and the sentiment on Twitter (at least amongst XRP fans) seems to agree with Forbes. Supporters have pointed to this webpage as evidence for why the full supply is, in fact, equal to the circulating supply.

Ripple Supply

The discrepancy in XRP data reporting is not the only one between Coinmarketcap and Forbes. Coinmarketcap lists XRPs market cap as $13.9 Billion, while ForbesCrypto lists XRPs market cap at $34.44 Billion. Other stats, like 24-hour volume, are also significantly different ($114m on ForbesCrypto and $408m on Coinmarketcap).

It’s hard to determine at this time which numbers are correct. However, what does remain consistent between both sites is that XRP has overtaken Ethereum to become the #2 cryptocurrency by market cap, a position many still find hard to believe when considering how much Ethereum has contributed to the crypto ecosystem compared to XRP. Ultimately, centralized cryptocurrencies like XRP will always be followed by controversy because the way in which their coins were produced and distributed makes people question everything about them, from their intrinsic value to market cap and circulating supply.

Source:Crypto Potato

Ripple

Ripple (XRP/USD) forecast and analysis on June 27, 2019

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Cryptocurrency Ripple (XRP/USD) is trading at 0.4726. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Ripple. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.

Ripple (XRP/USD) forecast and analysis on June 27, 2019

As part of the Ripple course forecast, a test level of 0.4640 is expected. Where should we expect an attempt to continue the growth of XRP/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 0.5140. The conservative Ripple buying area is located near the lower border of the Bollinger Bands indicator strip at 0.4550.

Ripple (XRP/USD) forecast and analysis on June 27, 2019

Cancellation of the option to continue the growth of the Ripple rate will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotes pair below 0.4420 area. This will indicate a change in the current trend in favor of the bearish for XRP/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Ripple (XRP/USD) forecast and analysis on June 27, 2019 implies a test level of 0.4640. Further, growth is expected to continue to the area above the level of 0.5140. The conservative area for buying Ripple is located area of 0.4550. The cancellation of the option of cryptocurrency growth will be a breakdown of the level of 0.4420. In this case, we should expect the continuation of the fall.

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Ripple signs a deal with AML solutions provider

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  • Ripple announced a partnership with startup Coinfirm. 
  • XRP is under selling pressure amid the downside correction from the recent highs.

Ripple, the company behind the third largest digital asset with the current market capitalization of $19.7 billion, has announced a partnership with Coinfirm, Forbes reports. This startup creates technological solutions to help cryptocurrency companies ensure compliance with regulatory requirements. 

When it comes to Ripple, Coinfirm will supply information related to anti-money-laundering (AML) rules. For example, it will show if the coins are connected to a hack, or if the transaction has been processed by a so-called mixer, a technology that is widely used to launder money.

Coinfirm CEO Pawel Kuskowski explained that actual identities of the parties involved in the transactions would not be revealed. This solution will make Ripplecompliant with the recent requirements of the Financial Action Task Force (FATF). 

Meanwhile, XRP/USD is changing hands at $0.4560, down 2% on a day-on-day basis and mostly unchanged since the beginning of Thursday trading. The coin hit the area above $0.50 on the weekend and has been sliding down ever since. The nearest support area is located at $0.4280. This barrier is strengthened by 23.6% Fibo retracement and SMA200 (Simple Moving Average) 4-hour.

XRP/USD, 4-hour chart

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Bitcoin Correcting Gains While Ripple Price (XRP) Struggles To Hold Support

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  • Ripple price failed to climb above the key $0.4950 resistance level and declined against the US dollar.
  • The price broke the $0.4700 support and it is currently struggling to hold the $0.4500 support.
  • There was a break below a major bullish trend line with support at $0.4690 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • Ethereum price corrected gains, but it is holding the key $320 support very well.

Ripple price is struggling to hold a few important supports against the US Dollar, while bitcoin is correcting gains. XRP price remains at a risk of more losses below $0.4500.

Ripple Price Analysis

Recently, bitcoin price climbed sharply above $13,000 (as discussed yesterday), but ripple price struggled to gather pace against the US Dollar. The XRP/USD pair climbed above the $0.4800 level and traded close to the $0.5000 resistance. However, the $0.4950 resistance area acted as a strong hurdle for the bulls. A swing high was formed at $0.4947 and the price recently declined heavily.

There were back to back bearish candles below the $0.3800 support. Ripple price even traded below the $0.3700 support. Finally, there was a close below the $0.4650 level and the 100 hourly simple moving average. A swing low was formed near $0.4521 and the price is currently consolidating losses. An initial resistance is near the $0.4620 level. It coincides with the 23.6% Fib retracement level of the downward move from the $0.4947 high to $0.4521 low.

However, the main resistance is near the broken trend line and $0.4700. Moreover, the 100 hourly simple moving average is also positioned near the $0.4700 level. Finally, the 50% Fib retracement level of the downward move from the $0.4947 high to $0.4521 low is at $0.4735 to prevent an upward move. If there is a close above the $0.4750 level, ripple could rise towards the $0.4950 level.

Conversely, if XRP continues to struggle below $0.4700, there could be more downsides. An immediate support is at $0.4520, below which there is a risk of a downside break below the $0.4500 support.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price is clearly facing a strong selling interest below $0.4700. If the price stays above $0.4700, there could be more losses. On the other hand, if bitcoin price climbs higher again, it could stop declines in ripple below the $0.4500 support.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is currently placed heavily in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level, with a bearish angle.

Major Support Levels – $0.4520, $0.4500 and $0.4450.

Major Resistance Levels – $0.4620, $0.4700 and $0.4750.

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