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Ripple [XRP] is out performing its competition in top 3

Aman Swami

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Ripple [XRP] is out performing its competition in top 3
Source: Pixabay

Since its genesis, Ripple’s various methods to sell XRP has incentivized market maker activity and in return increased XRP liquidity and strengthened the overall health of XRP markets. To eradicate concerns surrounding XRP supply, Ripple has placed 55 billion XRP into a cryptographically-secured escrow account. With the security of lion’s share of Ripple, people can easily calculate and verify the maximum supply of XRP that can enter the market. The total XRP held by Ripple is 7,169,567,650, the total XRP distributed is 39,122,794,968 and the total XRP placed in escrow is 53,700,000,024.

This is the overview of the strategy that Ripple has inculcated to reach the high flying growth it has today, it offers faster transfer than its competition in the top 3, Bitcoin [BTC] and Ethereum [ETH] according to its official website.

Currently, on a comparison of the data of the last 7 days, Bitcoin has seen a total of 13.29% volume increase, Ethereum has seen 20.60% increase and Ripple has outrun both at 34.77% increase. The data clearly shows how Ripple currently strives to attain higher volume and successfully by quite a margin outruns its competitors who stand at the top 2 position in terms of percentage volume increase.

Seven days ago, Ripple’s total volume was $622,028,000 and now it has increased to $819,671,000. Despite the fact that, Bitcoin still holds a market dominance of 40.2%, the growth rate of Ripple is definitely a boost to its investors and potential investors.

A twitterati tweeted once the numbers came in,



“How to be rich:

step 1: Buy XRP

step 2: HODL

step 3: Be rich”

The major issue that arises is the lack of constant growth that Ripple faces, in the past one hour, the volume is seen to be declining at 0.61%.

Other altcoins are challenging the volume percentage increase of Ripple by outrunning Ripple’s volume percentage increase by up to 15-20%. Currencies like IOTA, Cardano, NEM, StellarLumens are experiencing a volume percentage increase between 45-65% over the period of last 7 days. Ripple securely holds its third position despite the massive volume percentage increase in Altcoins.





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Aman Swami is an Economics major from Christ University. He is very passionate about cryptocurrency and understanding of financial markets.

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Ripple

Ripple’s XRP records relatively low 24-hour trading volume even as prices hold above $0.35

Guest Author

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Ripple's XRP records low 24-hour trading volume; even as coin trumps in third position
Source: Pixabay

The cryptocurrency market has been exhibiting a bullish trend even as Ripple’s XRP steered its way to major declines last week. The digital coin was hovering below $0.40, with very low price action in 2019. XRP was ranked as the third largest crypto-asset with a market cap of $16.03 billion and a price of $0.38, at press time.

However, XRP’s trading volume of $1.28 billion over the past 24-hours painted a different picture. The coin was trading relatively low in terms of its volume.

Ripple’s partnerships and developments did not seem to have had a significant effect on its native cryptocurrency’s trading volume.

The silver crypto, Litecoin [LTC], which is the fifth largest by market cap, recorded a 24-hour trading volume of $4.27 billion, which is nearly four times that of XRP. EOS, the sixth positioned digital asset, stood at a trading volume of $2.04 billion over the past 24-hours.



If the 24-hour trading volume was taken into account, XRP slipped to the seventh position, followed closely by Tron. TRX was closing in with a 24-hour trading volume $858 million.

According to the CoinMarketCap figures, XRP’s trading volume gained momentum on May 14, 2019, registering a massive $5.83 billion in 24-hour trading volume, priced at $0.32, as compared to $1.97 billion the previous day. However, the digital coin endured huge losses over the month as the volume sank soon after. XRP, however, has maintained its price above $0.35.





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