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Ripple Unlocks 100 Mln XRP, Community Expects Another Sell-Off to Come

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On Tuesday, the price of the third largest coin, XRP, started surging, along with the rest of the crypto market, and briefly regained the $0.24 spot. At press-time, the coin is trading at $0.23 after a tiny slump. Still, CoinMarketCap is showing an XRP growth of 7.23 percent.

Meanwhile, Ripple has unlocked 100 mln XRP from its escrow wallet. Some in the community believe that price manipulation is taking place since the stash has been unlocked amidst a long-awaited price growth. The transaction was detected and reported by Whale Alert.

Ripple unlocks another large portion of XRP

100 mln XRP ($23,823,138) has been unlocked from Ripple’s escrow amidst the coin’s long-awaited price surge. In the

past, the Ripple CEO Brad Garlinghouse assured the community that Ripple is unable to manipulate the XRP price and is not interested in keeping it low.

However, XRP holders in the comment thread seem to believe the contrary, fearing that another portion of XRP has been released to bring profit to Ripple without caring about what effect it may have on investors.

One of the users who responded negatively to this tweet, was @_Crypto_Maniac_. Previously, he had tweeted unconfirmed insider information that the XRP price is on its way to hit $50 soon.

However, the bithomp.com website shows that this unknown wallet was activated by Bithumb as well. Contrary to the comments under the aforementioned tweet, this time XRP holders took it as a sign of a further pump coming.

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FinNexus Building Tokenized Asset Platform on XRP Ledger

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FinNexus, a fintech company that’s developing an open-source finance protocol, says it plans to build a tokenized asset platform on the XRP Ledger. 

Billed as a “one-stop shop protocol” based on the three pillars of the DeFi movement (diversity, value, and convenience), the company is working to create marketplaces that offer digital tokens representing real-world assets such as stocks and exchange-traded funds. In its 2020 roadmap, the company says it will use the XRP Ledger to “issue tokenized assets.”

Although the backbone of FinNexus is built on the public blockchain

platform WanChain, the company says it plans to work with as many open protocols as possible to expand its reach. 

“Cooperation and partnership are crucial to the success of our business. In 2020, our focus will be to partner with other public chains, in addition to Wanchain (WAN), to connect not only in protocols but also in business and communities.

Partners with quality assets, either on-chain or off-chain, and partners capable of underwriting these assets will be the key users of the FinNexus protocol clusters.”

FinNexus is looking to launch a testnet of its decentralized platform by the fourth quarter of this year.

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News and Top Headline for Ripple XRP, January 18th, 2020

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  • Ripple Price Analysis – Ripple XRP price faces hurdles at the 100 MA as BTC tries to retest $9,000
  • XRP/USD – XRP Price attains 100-Days EMA But strives to exceed the level
  • XRP/BTC – XRP/BTC pair retest the 2600 SAT

Ripple XRP price traded in the positive zone this week recording a 13% price surge as it enters resistance at $0.234. The BTC/USD pair continues to trade sideways as it settles at the 2600 SAT level. Once the XRP price manages to resist $0.2345, the coin might rise back toward $0.30. The major support levels for XRP/USD pair are $0.22, $0.20, $0.185. While the major resistance level is $0.2345, $0.25, $0.262.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3XRP(XRP)$0.23700.618%

For the XRP/BTC pair, the major support levels are 2600 SAT, 2350 SAT, 2455 SAT. While the major resistance levels are 2710 SAT, 2800 SAT, 2900 SAT.

XRP/USD – XRP Price attains 100-Days EMA But strives to exceed the level

Ripple XRP has persisted in the positive zone, although, it encountered the projected resistance at $0.2345 and was unable to resist here. This resistance level is further strengthened by the 100-days EMA. XRP price is currently supported by $0.228 as the bulls try to

regroup to crack the 100-days EMA. If the XRP price can exceed the resistance at $0.2345, its coin will remain bullish. For XRP price to veer neutral, it must decline below $0.22, with an additional decline below $0.185 changing it bearish.

XRP Price Prediction – Ripple XRP Price Prediction

If the bullish trend persists and breaks the resistance at the 100-days EMA, instant resistance lies at $0.24. Above this level, next resistance is to be anticipated at $0.25, $257 (1.414 FIb Extension), and $0.262 (bearish .618 Fib Retracement). The resistance at $0.262 is strengthened by the 200-days EMA. Contrarily, if the sellers drive XRP price below $0.228, early support toward the downside lies at $0.22. Below this level, support is at $0.212, $0.20, and $0.185.

The RSI persists above the 50 the level which indicates that the bulls are in charge of the market trend. Also, the Stochastic RSI is bracing for a bearish crossover cue which might aid to bring the market price lower.

XRP/BTC – XRP/BTC pair retest the 2600 SAT

XRP/BTC pair has managed to correct back above the support level at 2600 SAT. XRP also surged higher into 2780 SAT but rapidly reversed and decline well below2700 SAT. It proceeds to trade sideways between 2600 SAT and 2700 SAT as investors and traders await the next price direction. XRP is still neutral at this level and must exceed the resistance at 3000 SAT to turn bullish. Alternatively, if XRP price decline below the support at 2350 SAT it would turn bearish.

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Ripple (XRP/USD) forecast and analysis on January 18, 2020

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Cryptocurrency Ripple (XRP/USD) is trading at 0.2333. 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 indica

tor stripes.

Ripple (XRP/USD) forecast and analysis on January 18, 2020

As part of the Ripple course forecast, a test level of 0.2280 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 0.2540. The conservative buying area for Ripple is located near the lower border of the Bollinger Bands indicator strip at 0.2140.

Ripple (XRP/USD) forecast and analysis on January 18, 2020

Cancellation of the option to continue the growth of the Ripple rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair below the area of ​​0.2100. This will indicate a change in the current trend in favor of the bearish for XRP/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Ripple (XRP/USD) forecast and analysis on January 18, 2020 implies a test level of 0.2280. Further, growth is expected to continue to the area above the level of 0.2540. The conservative buying area is located is near the area of ​​0.2140. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 0.2100. In this case, we should expect continued fall.

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