The value of Ripple’s XRP holdings has plummeted in the past month amid the crypto-wide market reversal.
Ripple currently owns 56,173,059,762 XRP. At time of writing, the company’s holdings are valued at $8,481,003,410, more than $10 billion less than the $18,795,505,796 the XRP was worth on February 15th.
XRP is currently trading at $0.1511 compared to $0.3369 just one month ago.
Tanya Abrosimova, an analyst at FXStreet, says the outlook for XRP may be improving after it pushed above $0.15 – the middle line of the 1-hour Bollinger Band.
Bollinger Bands use two lines of standard deviation to measure volatility and evaluate price action. Abrosimova is now looking to see if the crypto asset can tackle resistance at $0.1750.
“A sustainable move above this area will allow for an extended recovery towards SMA100 1-hour at $0.1930, which is followed by a stronger barrier created by psychological $0.2000.”
Ripple owns more than half of all XRP in existence and created an escrow program in late 2017 to manage its holdings. The company unlocks one billion XRP from escrow each month, sells a relatively small portion and returns the rest back into escrow.