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Ripple Review Report

January 8, 2020      Trade Dog

Ripple Review Report

XRP Price $0.228695 USD
Market Rank #3
Market Cap $ 9.9 bn
24 Hour Volume $1.2 bn
Circulating Supply 43.299 bn XRP
Total Supply 99.99 bn XRP
Price Range $0.002802 USD- $3.84 USD

Product stage

Proof of Concept Prototype Established

Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Released in 2012, Ripple is built upon a distributed open-source protocol and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes.

Coin Overview

The concept for Ripple came in 2004 from Ryan Fugger, way before Bitcoin was created in 2008. However, the Ripple they know today, Ripple Labs Inc., was handed over in 2012 to Chris Larsen and Jed McCaleb.

Product overview

The platform consists of RippleNet, a global payments network that boasts a consortium of financial institutions that include UBS, Standard Chartered, American Express, Santander, and MUFG. As of writing, the platform can achieve 1500 TPS (transactions per second) with a settlement time below 4 seconds. Overall, Ripple provides three main solutions:

  1. xCurrent Real-time messaging, clearing, and settlement system built around ILP (inter-ledger protocol) that provides end-to-end tracking
  1. xRapid A low-cost liquidity solution powered by XRP (the digital asset supporting the infrastructure). XRP acts as a bridge between major fiat currencies to facilitate cross-border payments, freeing locked-up liquidity in Nostro accounts required by banks for settlements
  1. xVia Standard API access to RippleNet for on-demand, real-time payment executions accompanied with information-rich data attached, such as invoices Eventually, Ripple aims to support seam less, real-time settlement for cross border transactions in a secure and cost-efficient manner

Ripple aims to provide seamless, real-time settlement for cross border transactions in a secure and cost-effective         manner.

Key Highlights:

— Ripple Labs Inc. claims that they are not the creators of the coin XRP. However, the company Ripple Labs Inc. has earned over $890 million in revenue from selling XRP coins on the market.

— In June 2019, the company Ripple moved 1,000,000,000 XRP from their escrow account to the market, which could generate approximately $300 million more in revenue from selling XRP.

Ripple was created by Jed McCaleb, the creator of Mt. Gox. McCaleb has since sold most of his 9 billion XRP coins, and he has abandoned the project. McCaleb now is the leader of Stellar and owns approximately 1 billion lumens.

— The coin XRP does not need to be used by the Ripple Network for settling transactions. Various investment reports value XRP at close to zero in worth, and XRP could be an unregistered security in the US.

How Fast is Ripple?

Payments moving across the XRP Ledger settle in 3 seconds.

The Problem and the Solution

Ripple is a technology that allows banks and other financial institutions to make secure, instant, low-cost transactions of any size, regardless of the currency or blockchain platform. Think of it like a network with custom “adapters” that allow it to plug into any platform, so you can transfer money from dollars to bitcoin, to euros, to any other altcoin.

 

As financial institutions are embracing blockchain technology, many are creating their own bitcoin-like solutions. Add to this the proliferation of altcoins such as Litecoin, Zcash, Monero,and others, and they are rapidly entering a world of a thousand digital currencies, each with their own protocol.

Think of it like the challenge of exchanging traditional currencies: changing dollars to euros,for example, which currently happens through a sophisticated network of money transmittal technologies and companies that took years to build.

In the new digital economy, transferring value between two blockchain protocols is often far more difficult, as the industry is still young, and two protocols may not be able to “speak the same language.” Ripple acts as kind of a “global translator” for all these different platforms.

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Essentially, Ripple is focusing first on one big opportunity: cross-border payments, or transferring money from one country to another, which it claims can be done cheaper and easier on the Ripple network. This is the selling point for most of the institutions signing up as early Ripple partners. 

Crypto Market and Ripple

XRP continued its dismal performance in the Q3 as its price dropped 35.4% during Q3 2019 while the overall market cap of crypto assets dropped by 30.4% during the same period. In the last quarter, the XRP volume also dropped by 53.1% from $31.9 billion to now at $18.2 billion.

Adoption

  1. With over 200 institutions on Ripple Net and loads of partnerships, one would have expected that prices would have been riding to new highs but as of yet, there is no end in sight for the prices to be in the clear just yet.
  2. Addition of XRP to the Coinbase card, powered by Visa which is aimed at 29 European countries but can only currently be used in Bulgaria, Croatia, Denmark, Hungary,Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden
  3. SBI Ripple Asia and SBI Remit, an international money transfer service, announced the launch of the first Japan-Vietnam money transfer service in real currency using the Distributed Ledger Technology (DLT) with the Vietnamese bank, TP Bank on Nov.15.
  4. Ripple Partner Bee Tech Is Using Ripple Net To Speed Up The $1.5 Trillion Payments Market In Brazil
  5. Money transfer giant MoneyGram processes 10% of its transactions between the U.S. and Mexican corridor via Ripple’s payments solution On-Demand Liquidity (ODL) that leverages XRP cryptocurrency.
  6. During the meet up in Japan, Warren Paul Anderson, Product Manager at Ripple dropped major news when he shared that the company’s focus is on the FX market that moves $5 trillion a day, in comparison to the cryptocurrency market valued at just two billion dollars.

Analysis of Ripple Quarter-3 Report

In the third quarter, they significantly reduced the XRP sales, consistent with the messaging they shared in the Q2 report. For Q3 19, the total XRP sales were $66.24 million vs. $251.51 million in the previous quarter

As a result of this discipline, Ripple’s XRP distribution rate since the beginning of the quarter has been lower compared to the inflation rates of ETH and LTC, and similar to BTC – see chart below.

(https://www.ripple.com/insights/q3-2019-markets-reprt/)

Highlights-Quarter-3 Report

  • Ripple sold $66.24 million XRP in Q3 2019, a 73.7% decrease in sales in XRP QOQ, as measured in USD.
  • Overall market capitalization of digital assets decreased in Q3, with the overall marketcap losing 30.4%. XRP price declined 35.4% QOQ.
  • Three billion XRP were released out of cryptographic escrow, 2.30 billion XRP were returned to escrow.
  • CCTT’s reported daily volume for XRP decreased in Q3 from the previous quarter. The average daily volume was $198.10 million in Q3 versus $429.51 million in Q2, though higher than $156.01 million in Q1.
  • In Q3 2019, three billion XRP were again released out of escrow, one billion each month. 2.30 billion XRP were returned and subsequently put into new escrow contracts.
Sales Summary     ( in million $) Q2 2019 Q3 2019
Institutional direct sales 106.87 50.12
Programmatic sales 144.64 16.12
Total Sales 251.51 66.24
Global XRP Volume Q2 2019 Q3 2019
ADV XRP 429.51 198.10
Total XRP 39.09 18.23
Total sales as % of total volume 0.6% 0.4%

Short term Investment Strategy

If we look at Ripple’s graph since the big drop at the beginning of 2018 the price of a coin has stabilized. Meanwhile, the value is increasing steady. It is not a very huge rise but it is going up. So it looks like 0.50$ is a big resistance line for Ripple. And at the 0.20$ line, there is a huge support line for Ripple.

But not only will the trend lines affect our investment strategy, major events will be able to push Ripple’s price up or down. But they have already announced great deals that may have a positive effect on the Ripple investment strategy for 2019. For example, Ripple’s payment app, a new processing technology, China will probably use Ripple’s payment system, big new partners will join and so on.

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As we can see, the future for Ripple looks great. Of course, there could be big events like regulations who can lead to a big drop. But overall the sign looks positive. Looking at the graph and the events in 2019, it can be assumed that the ripple will reach 0.50$.

Analyzing the trends of XRP tokens for the past three years before the Swell event and post the Swell event, (Swell 2017-Oct 16-Oct 18, Swell 2018- Oct 1-Oct 2, Swell 2019 Nov 7-Nov 9) graphs for each one of it is attached below. It could be observed that before the event, there is buying tendency, and during and after the event, investors may sell the news, and hence, a fall in the price is seen.

Since there is no noticeable event on bitcoin forks or regulatory undertakings as such in and FUD on ripple seems to be fading away. With the end of the Swell event, some resistance in price drop in the coming few days, post which it is expected for a bullish market with a probable upside of at-least 25%-30%.

Thanksgiving will be celebrated on 28th November 2019 in the US; it is the time when friends and family meet in the US. Thanksgiving period has been critical in the previous two years, with one year being bullish and the other being bearish. Trade should be made with caution during this period and exit if the market behaves bearishly.

Long Term Investment Strategy

In conclusion, TradeDOG Research presents a ‘Buy’ rating on XRP with a high upside potential. Our analysts believe that XRP is prime to disrupt the $5 trillion daily settlement market, creating waves to the decades-old banking system. XRP will continue to display its dominance in the crypto markets by holding one of the top 3 spots, at the same time exerting influence in the global financial industry.

Overall, for the reasons listed below, TradeDOG affirms its rating:

  • The project displays strong fundamental parameters and huge disruptive factor by targeting the niche settlements market with costs savings up to 60%, proving a strong use case against a legacy system, SWIFT.
  • The growth of XRP direct sales infers that attention which Ripple has been able to draw from the financial industry, paves the way a wider adoption of XRP.
  • XRP has high probability of gaining organic adoption through the utility of its token, considering that the positioning, establishment and branding is much more significant compared to other similar projects
  • Regulatory clarity could translate to potential benefits (e.g. major exchange listing, institutional adoption), providing a medium-term catalyst for our Buy conclusion.

Disclaimer

This report has been compiled by TradeDOG Research. TradeDOG Research is an independent provider of research on cryptocurrency ICO’s. We have not been paid, nor mandated for this research report. The views expressed within this report are TradeDOG’s in its entirety. The contents of this report and its attached documents have been prepared without taking account of your objectives, financial situation or needs. Because of that you should, before taking any action to acquire or deal in, or follow a recommendation (if any) in respect of any of the financial products or information mentioned in or downloaded from or through this website, consult your own investment advisor to consider whether it is appropriate having regard to your own objectives, financial situation and needs. Whilst TradeDOG believes the information contained in this report is based on information which is considered to be reliable, its accuracy and completeness are not guaranteed and no warranty of accuracy or reliability is given or implied and no responsibility for any loss or damage arising in any way for any representation, act or omission is accepted by TradeDOG or by any officer, agent or employee of TradeDOG or its related entities. TradeDOG at all times reserves the right to at any time vary, without notice, the range of services offered by TradeDOG and its subsidiaries, and the terms under which such services are offered. The information in this report may have been used by O1ex Capital (www.o1ex.com) in making an investment decision. The information within this report is our own opinion only and is not to be used in making a decision for investment.

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Team

Brad Garlinghouse

Brad is the CEO of Ripple and a member of the Board of Directors. In the past he has served as the CEO of file collaboration service Hightail, President of Consumer Applications at AOL and various executive positions at Yahoo! from 2003 to 2009, including Senior Vice President.

David Schwartz

David Schwartz is Chief Technology Officer at Ripple. David is one of the original architects of the Ripple consensus network. Prior to joining Ripple, David Schwartz was Chief Technical Officer for WebMaster Incorporated, a Santa Clara software developer. He developed encrypted cloud storage and enterprise messaging systems for organizations like CNN and the National Security Agency (NSA). Known as “JoelKatz,” he is a respected voice in the digital currency community.

Asheesh Birla

Asheesh is the SVP of Product at Ripple, which he first joined in 2013 to lead the development of their product suite. Asheesh is an industry expert on blockchain and is a frequent contributor, speaker, and advisor on blockchain and cryptocurrency. After leaving Thomson Reuters as VP in 2010, Asheesh advised and led product design at a number of startups in Silicon Valley. Most recently, Asheesh was included in 2018’s The Ledger 40 under 40, assembled by Fortune Magazine to recognize the superstars transforming business at the leading edge of finance and technology

Kahina Van Dyke

Kahina is SVP of Business and Corporate Development at Ripple. Prior to Ripple, Kahina lead Global Financial Services and built the global payments partnerships teams at Facebook. She has held executive global roles at MasterCard and Citibank mostly on international assignments. In addition, Kahina is a non-executive board director of Progressive Insurance company. She brings a depth of industry knowledge combined with a track record launching innovative solutions with partners. She is passionate about accelerating the next generation of global financial services and payments to serve people, business and communities around the world

Kanaan

Kanaan is the SVP of Engineering at Ripple. He started his career developing medical imaging systems at Cerner Corporation. He has led and grew teams at Yelp and Quantcast that were responsible for syndication partnerships, business analytics, internal applications, and data pipelines.

Monica Long

Monica Long is SVP of Marketing and Communications at Ripple. Throughout her career, Monica has helped technology companies drive fundamental change in the financial industry. Before joining Ripple, Monica worked in corporate communications at Intuit. Prior to that, she supported startup clients in various B2B and B2C sectors, with several in fintech, including Prosper.

John Mitchell

John is the SVP of Global Sales at Ripple. Prior to joining Ripple, he led global sales for Reval, the world-leader in SaaS Treasury Management Systems for large international corporations and transaction banking. He started his career in finance with IBM, subsequently moving into direct sales. John has over 25 years leadership experience in selling complex enterprise software to banks, covering capital markets, payments, AML and liquidity. John has established successful businesses in North America, EMEA, SE Asia, Japan and Mainland China as well as having worked for three listed companies.

 

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