Ripple XRP Price vs. Active Addresses
The chart above on a logarithmic scale compares the number of active addresses on the XRP network to the XRP price. Several divergence setups are observed on this chart, mostly regular bullish divergence where the number of active addresses makes a significantly lower low compared to the XRP price which makes lower lows at some points.
Also, notice an increase in active addresses making higher troughs and consequently leading to an increase in the Ripple price to a current yearly high of 0.510 USD.
A comparison of Ripple XRP sales in Q4 ’18 to Q1 ’19
The first quarter of 2019 accounts for 0.32% of the XRP global volume with 61.93 million USD in sales coming from direct institutional sales and 107.49 million USD was coming from programmatic sales making a total of 169.42 million USD compared to 129.03 million USD in Q4 ’18.
A billion XRP was released each month of Q1 ’19, summing up to 3 billion for the quarter, with an additional 2.30 billion XRP returned and put into new escrow contracts. A total of 700 million XRP not returned to escrow was used in different ways to develop the XRP ecosystem further.
New Financial institutions on RippleNet
Beginning from Q1 2019, customers on the RippleNet were over 200 globally and an extra 13 financial institutions that joined the payment network.
The companies are, Euro Exim Bank, JNFX, AhliBank of Kuwait, FTCS, SendFriend, Transpaygo, ConnectPay, WorldCom Finance, BFC Bahrain, Rendimento, Pontual/USEND, Olympia Trust Company.
Companies like JNFX Euro Exim Bank and a couple of others will be leveraging the XRP as an on-demand liquidity source.
Adoption by Legacy Players and Institutions
A good number of Tech companies and legacy players make an initiative to fix existing infrastructure and customer issues by deploying blockchain solutions, intending to deliver faster lower cost and more secure cross-border remittances.
Binance the number one crypto exchange launches its OTC Trading Desk, allowing users on the exchange have access to trade larger volume of cryptocurrencies listed on the exchange.
Eurex, derivatives exchange made a move to launch crypto derivatives exchanges, starting with BTC, ETH, XRP in Q1 ’19 in the same line as a couple of U.S based exchange operators such as the CME and CBOE Global markets.
Similar firms like Bakkt, ErisX, and Seed CX are focused on launching physically delivered crypto futures by 2019 in the US.
Eurex has been eyeing the cryptocurrency market since 2017.
As more and more institutional investors prefer the OTC trading over traditional trading methods, we look forward to further increase in the Ripple XRP price as we advance to Q3 ’19.
Conclusion and XRP Price Projection
As the general cryptocurrency ecosystem show a positive outlook, and the Ripple network gaining huge adoption across different use cases, going forward, we anticipate the XRP/USD pair to advance towards the 0.79132 resistance of Q4 ’18.