Ripple XRP Price Analysis: Ripple Announces Doubling Of Revenue. Friday, October 26th
Ripple XRP Price Analysis, Ripple Announces Doubling Of Revenue
Recently, Ripple announced that the company- Ripple, behind token XRP had doubled its revenue from XRP token sales in Q3 of 2018. According to the report published by the American company, it has sold XRP worth $163.33 million in the third quarter of the year. In the last quarter, the company only sold XRP tokens worth $73.53 million.
In addition to the impressive numbers, the report noted that in the third quarter the tokens volatility dropped and prices surged. This signaled positive effects around the project and the token and possibly better days ahead for the whole.
The announcement did not seem to affect XRP prices in the market by much. At the time of writing this, XRP is up by 0.67% and is trading around $0.458092.
Ripple remains one of the most active projects in the market. It is actively improving its products and its project as a whole and it is hard not to bet on it improving. Although this might take time, given the project still has some issues that still need addressing- like is it fully decentralized? Its application remains relevant and ever expanding.
The tokens all-time highs of $3.51 remain a possibility but one that will take a lot of giving from the bulls. From the last 3 month, its best performance has been $0.69 which it achieved back on September 21. On this date, prices went wild, shooting from $0.3 and grew by over 100%. Whether this can happen again remains a mystery, but given the right conditions, why not?
For now, XRP is stuck in the $0.45 position. It has been unable to break past this position even though it has found support at the $0.44 position. Some positive news is what the price needs if it is to break past this position- and I think it is going to take more than a report for this. However, there is no doubt there will be some positive news soon, given how active the project has been in the past.
XRP/USD Price Chart, Friday October 26th:
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