Author: Xi Xi Xi
The past two days, the XRP rose market sparked concern, from the beginning of the 5 month 14 days, XRP from $$0.32 to $$0.39 quickly pulled up, a slight concussion after 5 months 15 again on the rise in volume, stand on the $$0.43, as of press time, temporarily reported $$0.43, 24 hours or two days to reach 11.58% the largest increase was more than 37%.
According to the coinmarketcap data platform, through the comparison of 3 months BTC and XRP prices, we can obviously find:
Since April 2nd, BTC from the long-term sideways market began to rise significantly, has undergone several rounds of inflation, has several big breakthrough pressure, in XRP, showing a completely different price trend: since April 2nd after the market rose to XRP on the $0.36, from the beginning of April 11th has entered a downward trend shock, continued sideways after 0.29 – $0.31 range, until nearly two days did not appear to move up sharply, with the amount of money flowing into the XRP, the temperature will rise.
According to LongHash reports, because Coinbase recently announced that living in New York can use encryption currency users XRP transactions, the XRP prices rose again in the past few days. But this is clearly not sufficient enough reason, according to financial network observation, in recent months, about Ripple and XRP of the good news has not been interrupted, but the price is not had a similar increase, and even can be said that between good news and currency price linkage has been confusing.
As a ripple than the BTC point to point the advent of earlier payment network, the early version has been launched in 2004 2012, the company Ripple Labs coin Gerbaud predecessor, Opencoin was founded in Opencoin, took over in 2013 after the new version of the Ripple network to push out their own monetary base – reboxetine currency (XRP). To September 2013, Opencoin company was renamed Ripple Labs, and in 2015 the company logo was reduced to now familiar to us (Rui Bo Ripple).
The former Ripple employee Bob Way in a recent video broadcast also talked about previous times, it is easy to confuse the people changed its name to Ripple.
Ripple and XRP were confusing place to display more than this. XRP is the global market capitalization ranked third encryption currency, although there was BTC market sideways trend, away from the capital, to the growth of ETH, LTC and other mainstream currency prices, but the market performance of XRP in its currency price trend, transaction and so on but showed differences with other major currencies.
The market performance of “abnormal” questioned cited
AMBcrypto mentioned in the report, a senior trader Peter Brandt said earlier, XRP prices are deliberately manipulating market results, in March 22nd Brandt had tweeted: “kinetic energy in a huge decline in the triangle, moving to the top:
1. market manipulation
2. operators do support at a fixed level
3. but as time goes on, they have to be forced low price currency
If 4. support way, despair will follow.
He further explained, “I have no intention to incite XRP vulnerabilities or create controversy, I simply pointed out that, according to the previous situation, a descending triangle vertex to the development, is a very weak market performance” strictly speaking, this shows his bearish expectations.
A strong increase of the occasion in April 3rd bitcoin, Brandt also commented that the XRP operators have successfully hold the key support. In April 27th, Brandt also in tweets posted a XRP K map, and with the text says “this is a vital moment for XRP holders”.
According to Brandt, XRP has reached further down the stage. According to Brandt forecast earlier, this also means that the operators have entered the so-called transfer key support in the process of XRP.
AMBcrypto said in the text, XRP has been in decline since the beginning of this year, did not see a reversal of the trend, and although the Ripple has been since the establishment of XRP to provide strong support, but the company’s current efforts do not seem to help to the status of XRP.
On the one hand, it can be observed that, at present Ripple to at least one message in the daily market to continue to convey good news, in the Ripple and its ecological value has been significantly in performance at the same time, XRP said the market failed to give the corresponding reaction.
Compared to the XRP performance in the currency market price trend and the hiatus, pay close attention to the project Gerbaud but continues to release some positive signals.
In addition to New York Coinbase users can use XRP transactions, Germany’s second largest stock exchange has approved XRP exchange traded notes listed on NASDAQ (ETN) recently announced the new XRP encryption currency index, according to the trend of Google data show that in 2018 the number of users search such as the United States where to buy Ripple “than” how to buy Bitcoin”. But some time ago, Morgan announced the release of the encrypted digital currency JPM Coin, due to the payment function similarity in cross-border, is the market that directly on its potential rival XRP, which makes Gerbaud returned to the hot center, although later between two has basically been clear there is no direct impact of the so-called.
The ripple of the attention, the financial network analyst Jiang Zilong said, on the bright side, as the 2011 issue of the Ripple project, the market value is still in the top three in the world, back block chain project since 2009, there have been many projects did not survive. Ripple with its powerful capital strength and constantly landing in the market to ensure its survival, so left for the king, would have received some attention.
In addition, Jiang Zilong believes that cross-border payments as a block chain is easy to drop the field, the challenge of Ripple Swift is low efficiency and high cost, a sore point for this point is also the cross-border payment market place. And with the financial institutions gradually began to focus on science and technology for the traditional financial system changes. As the originator of the cross-border payment Ripple concern is inevitable.
But he also pointed out that for XRP, as the market value before the currency trading volume data from the most intuitive view, and could not explain the high degree of concern by the. Overall, XRP trading volume is significantly lower than the LTC, ETH, and basic bitcoin cash balance.
Although the impact of rising prices, nearly two days have inflows into the XRP, and earlier during the long time sideways capital inflows is not ideal. Mentioned in AMBcrypto4 28 reports, according to the large transaction data XRP aggregator XRPL Monitor display, April 25th nine transaction is not, in the case of large transactions, five cases from the Ripple itself. April 26th by Bitfinex and Tether news, 16 pen large transfers, most of them are transferred from Bitfinex. By April 27th, only two to 18 million XRP to separate transactions, the overall mobile is relatively small.
On the other hand, XRP in the hearts of many people is a “center” is not high degree of the currency in the market fluctuations, before the market expected favorable prices has not been reflected in the reboxetine currency body, than when the market rises and falls, and XRP in experience “abnormal stability.” after a short time pulled up sharply, once again raises questions about the XRP “highly Kongpan”.
Senior trader Peter Brandt May 14th bluntly pointed out on twitter comments, Ripple is a well managed company by the outstanding person — it is the manipulation of digital asset holders.
Familiar with Gerbaud project institutional investors on the financial network said earlier when the market rose, XRP was on hiatus, it can not operate Gerbaud, as it is not willing to try for the currency price action at that time. He believes that a consideration is to maintain the price stability, to promote the XRP exchange of currencies in the cross-border payment environment, can be more used by the agency; on the other hand in the United States securities regulators framework of digital currency identification signals continue to release today, Ripple company is eager to make a further cut on the relationship between itself and reboxetine currency XRP, in this case may be downplayed in Gerbaud can bring market currency price lasheng.
But in this rally, he said: “this question with XRP” highly Kongpan “are not in conflict, this is in accordance with XRP’s law, some people have jokingly commented on XRP is more like” once a year, once a year. “”.
In addition, Ripple chief technology officer David Schwartz recently sold its holdings of XRP news, sparking fears of community. And after Ripple and its core team all hold XRP and managed to release funds, but also by the community great concern.
The historical problems left behind long Gerbaud project did not fade with time, but with the change of its own further development and market, is facing a continuing dispute.
Between Ripple and XRP hard cutting
The Ripple (the company) and XRP (digital assets) to share the same history, so it is the retrieval of Ripple or XRP, or about their introduction of news and information, will be presented at the same time. Until earlier this month, David Schwartz in a Q & a SNS website Quora still asked between Ripple and XRP, Schwartz said bluntly, this problem is one of the biggest confusion around Ripple business.
Schwartz has combed his involvement after Gerbaud history. Schwartz and Jed McCaleb, Arthur Britto XRP was created in early 2011 and reboxetine currency books (XRP Ledger), and their next plan is to set up a Private Companies, the company in the form of this technology to build products and services.
So in 2012, they created Ripple and Chris of Larsen company, and agreed to give created in the 100 billion XRP to 80% Ripple, for the development of Gerbaud software promotion Gerbaud payment system, to donate or sell XRP.
This section described the history of Schwartz, and the ripple development schedule we know is different, released in March 2013, started trading in April 2014 of XRP, in fact has been created at the beginning of 2011, and as early as in before the transaction has been allocated, plus the XRP Ledger open source code, Schwartz believes that XRP is a open source and distributed digital assets, while Ripple is located in the company of a global payment, in his view the distinction between the two at a glance.
But it has to be pointed out that, for many people think Schwartz Gerbaud puzzled, some naming conventions from early in the project of the development and use of technology for the.
He said: “we put all the content from the assets to the ledgers to the agreement, are called ‘Ripple’ of the word, although some variants” and “to the developer community, Ripple (the company) and XRP (digital assets) the difference between from the beginning because both no confusion. More attention, the legacy of the old naming convention, seems to those who later tried to study our history has brought chaos”.
Schwartz day in response to another for “Ripple XRP control” the question, emphasizing on the three XRP that is the basic characteristics of the independence of the current implementation of XRP payment function, is independent of the Ripple company’s presence; and do not represent the holders of XRP owned Ripple shares; in addition, Ripple can not control the transaction verification process of XRP on Ledger.
There is a certain distinction between the two cannot be denied, but apparently in the name caused confusion, but its legacy of one of the intuitive and shallow embodiment.
With the continuous development of Gerbaud business, affecting a large number of XRP held by the final play in the role of community ecology, XRP the growth of the market and the benefits of Ripple cause and supervision for whether it belongs to the “securities” judgement, and not change a name can easily split.
From the previous naming conventions about the difference between the two is too far, evade the crucial point, to Ripple (the company) and XRP (digital assets) completely draw a line basically is difficult to achieve, Ripple made the clarification and cutting, is more strongly in the two from the controller and the control the role, into a parallel coexistence equilibrium distance.
ICO: world without end concern Ripple managed funds towards
The recent David Schwartz to sell their holdings of XRP community news triggered questioned, Schwartz that a normal trading decision just for reducing the individual investment risk considerations do. As for the general holding of XRP users, this sell-off may be a sufficient to constitute a bearish signal, which in fact has been clearly reflects the cognitive differences between the Ripple team and the community, the market.
This is not the Ripple community for the first time facing the impact of such events, in early May 2014, Ripple co-founder Jed McCaleb and the management of conflict leaving Ripple, once said to be selling its holdings of 9 billion XRP in 2 weeks in the community issued a document, the news caused a XRP plunged to record lows of $0.006667.
The previously mentioned a total of 100 billion XRP, Ripple won the 80 billion XRP. The remaining 20 billion XRP, Chris Larsen, Jed McCaleb to Arthur Britto and the three founders.
Specifically, Chris Larsen was 9 billion 500 million XRP, and in 2014 90 $7 billion XRP promised to put charitable foundation. While Jed McCaleb was 9 billion 500 million XRP, Arthur Britto received 1 billion. In order to avoid a large number of XRP smashed into the market caused by the price collapse, these early gifts to a large number of founder of XRP are set up corresponding locking protocol, especially announced selling news in Jed caused by currency prices plummeted after the lock planning Jed and Ripple revised, only to prevent the sale of market panic thrown further unrest.
Given to Ripple, part of the same, but early in the project for liquidity management purposes, Ripple will have a XRP presentation to bitcoin forum users, bank and gateway cooperation mechanism, in order to maintain the currency price stability, Ripple company will also be one of the 55 billion XRP lock in a managed encryption account, monthly release 1 billion reboxetine currency.
Ripple holds a large number of XRP in the end what occupy a position in the XRP trading volume, the need to re-examine the Ripple escrow account and the release of the money. This is currently the most popular Gerbaud community areas of concern.
According to the official website of Ripple data show that the disclosure of the number of its holdings of XRP circulation amount and Ripple currently is hosting the XRP number. As of May 15, 2019, the balance is as follows:
Ripple company currently holds 6 billion 358 million XRP;
XRP on the market circulation of 421.33 million;
Ripple company is managed XRP 515 billion.
So at present only about 42% of the XRP circulation in the market, while Ripple has XRP currently accounts for about 57.85% of the total supply (including is in the custody of the XRP and has been released), the token holdings is still very concentrated.
According to the financial network observation, XRP market circulation from 40 billion 794 million in January to the end of March to 41 billion 706 million, then to 42 billion now, this more than four months since the release of XRP from the escrow account for 4 billion, the amount of the market circulation of XRP increased by nearly 1 billion 200 million.
Ripple Q1 released in April 24th XRP market report made interpretation of the money to. The report mentioned in the first quarter of 2019, Ripple company has 3 billion XRP again released from the third party custody (i.e. monthly release of 1 billion XRP), which has 2 billion 300 million XRP to be returned and will be incorporated into the new hosting contract. The remaining 700 million did not return the managed XRP in a variety of ways to help support the XRP ecosystem.
In addition, the report noted that Ripple company in the first quarter of 2019 XRP sales of $169 million 420 thousand, that is to say in the released worth about $200 million for the 700 million XRP, sold directly to the agency’s XRP value is about $61 million 930 thousand, and the circulation market of the two XRP value of about $107 million 490 thousand. The remaining $30 million did not know the specific purpose.
Ripple XRP will release a market report every quarter, for selling pressure, most are unlocked XRP finally also will continue to be managed, but considering every quarter more than $100 million worth of XRP was released, still unable to ease market concerns about the project kongpan.
Compared with other projects to hold their digital currency, although the token distribution and plan their lock may not be strictly enforced, but Ripple and XRP after cutting to get way early in the token handed out as held by the Private Companies XRP and its funds toward more from community monitoring and consensus management, information report is not about the funds to out of necessity and transparency is limited, the existence of hidden dangers?
Jiang Zilong said, “this never ending XRP ICO” is an inevitable risk, because:
First of all, Ripple last year faced a number of investors sued the chain as a block of digital assets and not only to the center is difficult to fit, there is no guarantee that the interests of investors such as securities.
Secondly, the three products owned by Ripple, in addition to payment service providers to provide liquidity to xRapid, assist financial institutions with global payment xCurrent and help companies to pay ordinary network access Gerbaud xVia do not need to use XRP.
Jiang Zilong believes that from the positive aspect, timing throws a XRP is to provide the market depth more in the capital at the same time, X-rapid and ripple as an important product, need certain liquidity management. But the price fluctuation and the product properties of XRP and can not meet their claims to provide liquidity products. Although this is Ripple’s global customers has more than 200, but the reason is still poor XRP.
Finally, a Ripple using XRP benefit on the other hand, the relative isolation of XRP and its main line of business Ripple, if not solve this problem, it is difficult to achieve long-term development.
So far, BTC and ETH is still only two of the two regulated expressly exempt securities act to the center of digital assets, third digital currency XRP as market capitalization behind BTC and ETH, in the face of whether SEC will be judged as securities will bear the brunt.
SEC released the first encryption currency guidelines in April 3rd, the SEC on the 4 dimensions of the test for Howie has been unable to avoid the encryption of currency investment after the money for the subject “and” the common cause “two, and” for the investment profit expectations “and” profit source from the sponsor or third party “with” for others to strive to profit the reasonable expectations of the relative detail, intended to guide the project to the center to strengthen their degree and function, at the same time as the development project to save space, while trying to pay too much attention to the desalination industry project in the future growth of the appreciation token.
Because the Ripple of XRP holdings is still very concentrated, and the need to use XRP to benefit from this new digital asset analysis framework “suggests that long-term securities recognized the possibility of the existence of XRP. While Ripple is trying to draw the line, Ripple and XRP on functional XRP and to the center of the process, to avoid being identified as securities XRP.
Jiang Zilong think, whether it will be defined as securities depends on X-rapid and promotion of the business trend. If the final X-rapid abortion, the application scene of XRP is not in, then XRP is inevitable because of its securities, lost the functional token only function. If the application scenario of XRP is more widely used, so Ripple XRP also dished out a large number of disguised as market liquidity contributed.
He said: “XRP and Ripple in the future, more depends on its application, now is too early to talk about nature.”