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Fake XRP Won’t Fool Ripple Community

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In a relatively short period of time, cryptocurrency has gained quite a lot of traction from the public, especially Bitcoin. But many people think that Bitcoin is the only cryptocurrency or that cryptocurrency and Bitcoin is the same thing (which is it to an extent to be fair), but there are other cryptos out there like Ripple’s native token, XRP. Because cryptocurrency is a lot more popular than it once was, this has led to the creation of various copies of popular cryptocurrencies which don’t bear many differences to the originals. XRP classic is an example of this which has attracted many people when it was first seen on Twitter on December 24th.

Many enthusiasts quickly caught on though and dubbed the cryptocurrency as fake.

The new token has the same logo as the real XRP but it is in orange instead. It runs on the ERC20 platform and the website shows that it is available for trading on EthFlyer, Mercatox and soon will be available on Hotbit. As it says on CoinMarketCap, the cryptocurrency shows the coin to be trading at $0.000001 with a total supply of more than 645,300,000,000 XRPC.

You can even tell by the website that this cryptocurrency isn’t properly prepared as it says, “XRP CLASSIC presents a decentralized accessible blockchain and cryptocurrency infrastructure; it is absolutely open source content management system.” As reported by Koinalert, the white paper doesn’t really provide us with any helpful information but it does say:

“Freelance workforce growth is accelerating and has outpaced overall U.S. workforce growth by three times since 2014. Work is changing rapidly due to the impacts of automation, and freelancers are better equipped for the future due to more frequent reskilling, and as per the research by freelanceunion.com, 57%2 of the American workforce would be freelance based by 2027.”

There have been several supporters of XRP who have said they are trying to clear the air around the new “fake XRP”.

In terms of the real XRP, the token is currently in the red with a 0.27 percent decrease over the past 24 hours which has given it a price of $0.33.

Source:Crypto Daily

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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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