Ripple

Ripple Market Report: $XRP Up on Distributed Ledger Technology (DLT) Successes

Brief:


Ripple is making big inroads into traditional cross border payment markets and $XRP rides up on the good news. Ripple is up 41.10% in 24 hours, up 128.89% on the week and up 329.17% on the month on a last price of $1.03. The Ripple marketcap is $39,901,319,192 with a circulating supply of 38,739,144,847 $XRP. $XRP/USD is trading between a 24hr high of $1.08 and a 24hr low of $00.68 on a 24hr Bitfinex volume of $415,471,000. In today’s moderate to heavy volume trading the weekly trend is mixed.

Last price

1.03 $XRP/USD

$USD

last price $ 1.03
one week ago $ 00.45
percentage 128.89%

Volume

Volume

$XRP 24 hour volume
USD $415,471,000
all $XRP currencies $3,981,910,000

The 24 hour volume for $XRP/USD on Bitfinex is $415,471,000. This volume weight is moderate to heavy when compared with Bitfinex daily trading levels for $XRP over the last month.

The total 24 hour volume for all reporting $XRP markets is $3,981,910,000.

Market Share

The Bitfinex currency pair $XRP/USD is 10.43% of all $XRP traded in twenty-four hours. Bithumb.com has commanding daily market share of 25.55% of all $XRP traded worldwide.

Remarks

Ripple is making big inroads into traditional cross border payment markets and $XRP rides up on the good news. Ripple is up 41.10% in 24 hours, up 128.89% on the week and up 329.17% on the month on a last price of $1.03. The Ripple marketcap is $39,901,319,192 with a circulating supply of 38,739,144,847 $XRP. $XRP/USD is trading between a 24hr high of $1.08 and a 24hr low of $00.68 on a 24hr Bitfinex volume of $415,471,000. In daily moderate to heavy volume trading the weekly trend is mixed.

According to CryptoCompare.com ‘While the market has been focused on Bitcoin and commercial banks continue their migration onto enterprise-grade platforms, the Ripple team has been working on a new solution that allows banks to settle cross-border payments with end-to-end tracking instantly. Posted on the official website on the 19th of December, the announcement reads:’

‘The Ripple xCurrent product — a solution that allows banks to settle cross-border payments with end-to-end tracking instantly — is now enterprise-tested. Also, the public XRP Ledger, operating since late 2013, successfully completed 35 million ledger updates without failure and offered throughput of 1,500 transactions per second.’

The PR reads well and the content is inarguably positive. However, does this corporate cheerleading warrant an increase of 41.10% in 24 hours? No. There seems to be no other meaningful news to support such an $XRP price climb. Christmas buying frenzy appears to be the main justification for this increase.

This price increase (up 41.10% in 24 hours) on this news (Ripple December 19 2017 news release) is not sustainable over a long term period. In July 2017 the price went as low as thirteen cents. Has that much changed in the $XRP world since? Expect significant market downward pressure on $XRP after Christmas.

The falling price of bitcoin, down -8.43% in twenty-four hours after a similar drop earlier in the week, will accelerate this process.

The author has published more than twenty (20+) $XRP Market Reports.

CoinMarketCap.com YTD Chart

One Day Candles

Browse Ripple Collection

Learn about the unique characteristics of $XRP. Browse our collection of Ripple Market Reports.

Thursday December 21 2017 Bitcoin Background

Altcoins such as Ripple may show a relationship with bitcoin (BTC) which changes with the alt, bitcoin and market conditions:

24 Hours of Bitcoin
24 Hours of #Bitcoin
-8.43% price $15,506.50
vol $17,127,900,000
mktcap $259,817,997,762
16.76M #XBT 19:49 #FinTech
http://kittybitcoin.com/bitcoin/24_hours_of_bitcoin.php

XBTLivePriceTM

Yesterday

Altcoin Market Reports
We publish topical Market Reports on many altcoins. Browse our extensive collection of Altcoin Market Reports.

Price change

Price change is the $XRP percentage change within the period:

period change
day 41.10%
week 128.89%
month 329.17%

Highlight Chart

Tap / click to enlarge:

Ripple is up 41.10% in 24 hours, up 128.89% on the week and up 329.17% on the month on a last price of $1.03.
Ripple is up 41.10% in 24 hours, up 128.89% on the week and up 329.17% on the month on a last price of $1.03.

Data source

Bitfinex is the main data source for this report. Other sources are credited where used.

Market capitalization

Market capitalization is the total $US dollar value of the Ripple market calculated using the formula:

market cap = ( circulating supply x last price )
Market cap $ 39,901,319,192
Circulating supply 38,739,144,847
Last price $ 1.03
Circulating supply data courtesy of CoinMarketCap.com.

Daily High Low

daily high 1.08
daily low 00.68

Trend

The weekly trend is mixed. Four days in the last week ended in red candles.

trend is MIXED

Resistance

Resistance is the highest price within the period:

period resistance
day 1.08
week 1.08

Support

Support is the lowest price within the period:

period support
day 00.68
week 00.45

Market sentiment

Market sentiment is bullish.

sentiment bullish

Image courtesy Pixabay.com

Summary

Ripple is making big inroads into traditional cross border payment markets and $XRP rides up on the good news. Ripple is up 41.10% in 24 hours, up 128.89% on the week and up 329.17% on the month on a last price of $1.03. The Ripple marketcap is $39,901,319,192 with a circulating supply of 38,739,144,847 $XRP. $XRP/USD saw weekly and all time resistance at $1.08 and weekly support at $00.45. Market sentiment is bullish. The weekly trend is mixed in daily moderate to heavy volume trading.

Analytic Strategy: Objective Analysis

Objective analysis begins free of subjectivity. Interpretation of technical analysis geometric patterns, for example perceived shapes on a trading chart, is inherently subjective. This report is free of technical subjectivity to the maximum extent reasonably possible.

Disclaimer

Past history is NOT an indicator of future results. Read the legal disclaimer:

http://kittybitcoin.com/docs/disclaimer.php

Printed

This report was printed on Thursday December 21 2017 19:40 hours UTC. Contact KittyBitcoin to request custom reports. Share your thoughts with @KittyBitcoin on Twitter.

Thanks for reading! 🙂

Tags

Ripple, $XRP, USD, Bitfinex, Market, Report, $XRP/USD, altcoins

@KittyBitcoin supplies mobile friendly blockchain intelligence on http://kittybitcoin.com. Their favorite color is pink and the bigger the wool ball the better.
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