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Price Analysis

Ripple (XRP) Price Analysis: Ripple is Alleged of Under-reporting from Escrow Accounts; Bullish Long-term Outlook Remains

  • Ripple has been dragged to the soup after Coin Metrics found discrepancies in the escrow reporting.
  • The 2019 target remains unchanged at 1 USD.

Ripple (XRP) has been again dragged to the contention for wrong reasons. Recently a major blockchain company Coin Metrics has discovered in Ripple’s escrow account reporting system. It has found a contradiction in Ripple’s reporting system, which needs to be investigated. The report states, “Coin Metrics found several important discrepancies between what was publicly reported by Ripple and what was visible on the XRP ledger.” As per the findings, Ripple has an under-reported number of XRP coins released from the escrow account. This finding has an immense negative impact on the price path of Ripple. However, the medium-term outlook is bullish. The 2019 prediction target rests at $1. We should now analyze the current figures of Ripple coin to understand the growth pattern.

Ripple Current Statistics-

XRP

  • Ripple (XRP) is ranked at 3rd position in the global crypto market.
  • The ROI (Return on Investment) of XRP stands at 6369.35%.
  • A total of 42,133,310,721 XRP coins are in current circulation.
  • The market cap on 18th May at 02:14 UTC stands at 16,021,820,383 USD.
  • The value of each XRP coin stands at 0.380265 USD and 0.00005210 BTC.
  • The 24h volume at the same UTC stands at 3,572,765,699 USD.

Ripple Price Comparison-

Ripple (XRP) started the year with a moderate price at 0.35 USD, and it has shown many huge price variations throughout the year until now. Huge growth was seen at the onset of April. It gained almost 20% in just 4 days. The market cap in 18th April was 14,467,330,619 USD, and the value of each Ripple coin was 0.344700 USD. The current market cap and the value of XRP coin in USD is respectively 10.74% and 10.31% more than the values of last month.

Ripple 2019 Prediction-

As mentioned earlier, the findings are really massive. But it will not have many implications on the price pattern of Ripple (XRP). The value of Ripple in USD will find resistance at 0.45 USD. The 2019 prediction goes with 1 USD mark, and we predict the near future to be full of price swings. So, patience is what required for the investors.

Conclusion-                    

The new entrants are welcome to the dive into the Ripple’s growth story. This low price has made a suitable time to buy fresh coins. Holding until 2020 will give at least 3 times profit on the current investment.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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