Price Analysis

Ripple Price Analysis: XRP Releases 1 Billion Coins from Escrow Account

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  • Ripple releases 1 billion coin worth of $435,891,000 from its escrow account.
  • The 2019 target should be set at 0.75 USD.

Recently, a sudden increase in the trading volume and market cap was noticed in Ripple (XRP). Later it was officially confirmed that Ripple had released 1 billion XRP coins worth over $435,891,000 from its escrow account. The cryptocurrency data aggregation website, Whale Alert, posted the same on its Twitter handle. As per Ripple, the release from escrow will be used in multiple projects. It said,

If an escrow is successfully finished, it delivers the XRP held to its destination account. If the escrow is canceled, it delivers the XRP back to the source account.

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We predict this release will bring some number of users. The value of Ripple price is likely to reach 0.75 USD by the end of 2019. We should now analyze the current figures of the coin.

 Ripple Price Statistics-

Ripple price chart - june 3

  • Ripple (XRP) is the third largest coin in the market.
  • The ROI (Return on Investment) stands at 7448.63%.
  • A total of 42,181,995,112 XRP coins are in current circulation.
  • The market cap as on 03rd June at 02:23 UTC stands at 18,682,650,507 USD.
  • The ripple coin value stands at 0.4454772 USD and 0.00005094 BTC.
  • The 24h volume stands at 1,616,360,884 USD.

XRP Price Comparison-

Since the starting of the year, the coin has been showing huge variations on the pricing. The first big fall was completed on 29th January when the coin lost 24.80% of its value in just 27 days. The lowest point of the coin was recorded on 25th April at 0.2900676 USD. There was a huge growth in the value on 08th May when the coin gained 52.81% in just 7 days. The market cap on 3rd May was 12,969,790,688 USD, and the value of each XRP coin stands at 0.3203202 USD. The current market cap and the value of each are respectively 44.04% and 39.07% more than the figures for last month.

Ripple Price Prediction-

As many developments are happening in the realm of Ripple, it is evident that the coin will have a bullish period in some days. The XRP coin may find resistance at 0.50 USD and 0.55 USD. It is likely to reach 0.75 USD by the end of 2019.

Conclusion-

This is a good time to buy Ripple coins if the target is a long-term holding. Investors need to cautious about the resistance point and trade with patience.

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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