{"id":382821,"date":"2019-05-18T16:15:37","date_gmt":"2019-05-18T16:15:37","guid":{"rendered":"https:\/\/wncen.com\/?p=382821"},"modified":"2019-05-18T17:31:53","modified_gmt":"2019-05-18T17:31:53","slug":"ripple-xrp-bulls-firm-despite-coin-metric-report","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/ripple-xrp-bulls-firm-despite-coin-metric-report\/","title":{"rendered":"Ripple (XRP) Bulls Firm Despite Coin Metric Report"},"content":{"rendered":"<ul>\n<li><em>Ripple (XRP) up 25.6 percent<\/em><\/li>\n<li><em>Ripple Labs exposed by Coin Metrics as David Schwartz says it is a \u201ctimeline issue.\u201d <\/em><\/li>\n<\/ul>\n<p><em>Coin Metrics now reports that Ripple Labs did under-reported the number of XRP released from escrow by a total of 200 million XRP while implementing the \u201cescrow queue\u201d differently than announced. The reaction could be heaping pressure on XRP which is fast dropping, clawing back this week\u2019s gains<\/em>.<\/p>\n<h2>Ripple Price Analysis<\/h2>\n<h3>Fundamentals<\/h3>\n<p>According to a Coin Metrics <a href=\"https:\/\/coinmetrics.io\/an-on-chain-analysis-of-ripples-escrow-system\/\" rel=\"nofollow\">report<\/a>, Ripple Labs is allegedly misrepresenting the actual amount of XRP in their <a href=\"https:\/\/wncen.com\/2019\/01\/02\/ripple-price-analysis-xrp-drop-to-third-coins-moved-to-otc-distribution-wallets\/\" target=\"_blank\" rel=\"noopener noreferrer \">escrow accounts<\/a>.<\/p>\n<p>In two different occasions, the blockchain analytics firm said the XRP issuer \u201cunder-reported the number of XRP released from escrow by a total of 200 million XRP ($84 million at current prices)\u201d further adding \u201cother party\/parties, potentially associated with Ripple, have released 55 million XRP from an unknown escrow address not connected to the main Ripple escrow account.\u201d<\/p>\n<p>However, it was the revelation that \u201cthe \u201cescrow queue\u201d is implemented differently than announced, leading to a faster future release of escrowed funds compared to the announced schedule,\u201d that is drawing <a href=\"https:\/\/twitter.com\/Stevezajac3\/status\/33820672\" rel=\"nofollow\">criticism<\/a> to Ripple Labs and Ripple Inc, the majority holders of XRP.<\/p>\n<blockquote><p><em>\u201cA scam is a scam. Tokens made out of thin air are not true crypto in any shape or form. Just a nice way to print free money got to give it to ripple though. They have created a new central bank by selling their shitcoins to fools who keep buying it up thinking they gonna rich.\u201d<\/em><\/p><\/blockquote>\n<p>In an attempt to pour cold water on the finding, <a href=\"https:\/\/wncen.com\/2019\/03\/25\/quora-removes-schwartzs-joke-ripple-xrp-drop-with-light-volumes\/\" target=\"_blank\" rel=\"noopener noreferrer \">David Schwartz<\/a>, the CTO of Ripple Inc, took to Twitter saying \u201c<em>regarding the chatter about reporting methodology around XRP escrow in Ripple\u2019s quarterly XRP Markets Reports: this is simply a timeline issue.\u201d<\/em><\/p>\n<h3>Candlestick Arrangement<\/h3>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-382824\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-18.png?resize=1280%2C1024\" alt=\"Ripple XRP\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-18.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-18.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-18.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-18.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-18.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/Ripple-Daily-Chart-May-18.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Like other crypto assets, Ripple (XRP) is under pressure. Even so, thanks to sharp upswings mid this week, the asset is up 25.6 percent in the last week. All the same, candlestick arrangement point to bulls but bears are temporarily in charge.<\/p>\n<p>Note that although sellers are pressing lower, they are yet to reverse gains of May 14th, the breakout bar and the trigger of the first wave of higher highs targeting Q1 2019 highs. Therefore, it is imperative that buyers build enough momentum to drive prices above May 15th highs since bulls are in control from an effort versus result point of view\u2014prices are oscillating within May 14th high low.<\/p>\n<p>Once that prints out, then we shall trade in line with our previous <a href=\"https:\/\/wncen.com\/2019\/05\/15\/ripple-xrp-soar-up-44-2-percent-and-7-billion-away-from-flipping-eth\/\" target=\"_blank\" rel=\"noopener noreferrer \">XRP\/USD trade plan<\/a> with targets at 60 cents.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>As aforementioned, May 14th bar is our anchor bar. Holding price action of the last two days, buyers are therefore in charge. However, it is after prices close above 40 cents complete with high transaction volumes, preferably above 108 million that risk-averse traders can buy on dips with targets at 60 cents.<\/p>\n<p><strong><em><a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Chart<\/a> courtesy of Trading View. Image Courtesy of Shutterstock<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple (XRP) up 25.6 percent Ripple Labs exposed by Coin Metrics as David Schwartz says it is a \u201ctimeline issue.\u201d Coin Metrics now reports that Ripple Labs did under-reported the number of XRP released from escrow by a total of 200 million XRP while implementing the \u201cescrow queue\u201d differently than announced. The reaction could be heaping pressure on XRP which is fast dropping, clawing back this week\u2019s gains. Ripple Price Analysis Fundamentals According to a Coin Metrics report, Ripple Labs is allegedly misrepresenting the actual amount of XRP in their escrow accounts. In two different occasions, the blockchain analytics firm said the XRP issuer \u201cunder-reported the number of XRP released from escrow by a total of 200 million XRP ($84 million at current prices)\u201d further adding \u201cother party\/parties, potentially associated with Ripple, have released 55 million XRP from an unknown escrow address not connected to the main Ripple escrow account.\u201d However, it was the revelation that \u201cthe \u201cescrow queue\u201d is implemented differently than announced, leading to a faster future release of escrowed funds compared to the announced schedule,\u201d that is drawing criticism to Ripple Labs and Ripple Inc, the majority holders of XRP. \u201cA scam is a scam. Tokens made out of thin air are not true crypto in any shape or form. Just a nice way to print free money got to give it to ripple though. They have created a new central bank by selling their shitcoins to fools who keep buying it up thinking they gonna rich.\u201d In an attempt to pour cold water on the finding, David Schwartz, the CTO of Ripple Inc, took to Twitter saying \u201cregarding the chatter about reporting methodology around XRP escrow in Ripple\u2019s quarterly XRP Markets Reports: this is simply a timeline issue.\u201d Candlestick Arrangement Like other crypto assets, Ripple (XRP) is under pressure. Even so, thanks to sharp upswings mid this week, the asset is up 25.6 percent in the last week. All the same, candlestick arrangement point to bulls but bears are temporarily in charge. Note that although sellers are pressing lower, they are yet to reverse gains of May 14th, the breakout bar and the trigger of the first wave of higher highs targeting Q1 2019 highs. Therefore, it is imperative that buyers build enough momentum to drive prices above May 15th highs since bulls are in control from an effort versus result point of view\u2014prices are oscillating within May 14th high low. Once that prints out, then we shall trade in line with our previous XRP\/USD trade plan with targets at 60 cents. Technical Indicators As aforementioned, May 14th bar is our anchor bar. Holding price action of the last two days, buyers are therefore in charge. However, it is after prices close above 40 cents complete with high transaction volumes, preferably above 108 million that risk-averse traders can buy on dips with targets at 60 cents. Chart courtesy of Trading View. Image Courtesy of Shutterstock<\/p>\n","protected":false},"author":384,"featured_media":347583,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[40413,3680,3685,4531],"class_list":["post-382821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-coin-metrics","tag-ripple","tag-ripple-labs","tag-xrp"],"acf":[],"yoast_head":"\n<title>Ripple (XRP) Bulls Firm despite Coin Metric Report<\/title>\n<meta name=\"description\" content=\"Findings reveal that Ripple Labs may have under-reported the amount released from their escrow by 200 million XRP. 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Even so, bulls are firm, up 25.6 percent.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/ripple\/ripple-xrp-bulls-firm-despite-coin-metric-report\/","og_locale":"en_US","og_type":"article","og_title":"Ripple (XRP) Bulls Firm despite Coin Metric Report","og_description":"Findings reveal that Ripple Labs may have under-reported the amount released from their escrow by 200 million XRP. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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