CEO’s Delight, Ripple (XRP) Has Low Correlation With Bitcoin (BTC)

2019-5-1 21:00

Ripple (XRP) down 6.4 percent Low correlation with Bitcoin prices means XRP is the best diversifier

Brad Garlinghouse must be happy, Ripple (XRP), a Binance research report reveals, has a low correlation with Bitcoin (BTC). Because of that, it is a good diversifier for investors willing to spread out their risks. Nonetheless, Ripple (XRP) prices are down, shedding 6.4 percent in the last week.

Ripple Price Analysis Fundamentals

Based on historical cryptocurrency market performance, diversification may, after all, not be ideal for investors. That’s what the last Binance report shows. Nonetheless, diversification remains a market strategy for many. For investors planning to spread out their risk in light of fluctuating asset prices, Ripple (XRP), Binance confirms, is the best diversifier.

The conclusion is after a detailed study revealed that indeed, Ripple (XRP), despite its position as the third most liquid asset commanding a multi-billion market cap, has a low correlation with the king, Bitcoin. That’s unlike Ethereum (ETH) which moves in tandem with Bitcoin (BTC) prices.

Even so, the team also found that, thanks to increasing listing and pairing, most crypto assets do correlate highly, syncing with Bitcoin pricesn. Considering his leanings and calls for de-coupling, this is good news for Ripple Inc CEO, Brad Garlinghouse.

Earlier last year, he was quoted acknowledging that while he holds Bitcoin (BTC), he would like to see Ripple (XRP) prices remain independent, decoupling from Bitcoin. It is this independence that perhaps, would make the coin more attractive to financial institutions seeking for stability in a currency designed as a medium of exchange facilitator.

Candlestick Arrangement

From price action, Ripple (XRP) is lagging and back to red. In the last day and week, the coin is down 1.1 and 6.4 percent respectively, revealing low volatility visible in the past few months.

Presently, the currency is ranging, retesting primary support at 30 cents. All the same, and despite yesterday’s bull bar, there has been no confirmation. Bulls are yet to break from bear clutches, but as long as 30 cents hold, there is a ray of hope for XRP bulls.

Like in previous XRP/USD trade plan, we shall adopt a neutral to bullish stance aware that any surge above 34 cents shall trigger the first wave of buyers targeting 40 cents. On the reverse side, liquidation forcing prices to slip below our floors could indicate weakness as prices slide to 25 cents.

Technical Indicators

In light of the above and from candlestick arrangement, Apr-24-25 bears stand out. They have high transaction volumes—averaging 36 million. As such, gains above 34 cents or below 30 cents, confirming or canceling our bullish stance must be with high participation exceeding 17 million.

Chart courtesy of Trading View.

The post CEO’s Delight, Ripple (XRP) Has Low Correlation With Bitcoin (BTC) appeared first on NewsBTC.

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Ripple (XRP) на Currencies.ru

$ 1.1279 (+0.30%)
Объем 24H $6.756b
Изменеия 24h: 0.49 %, 7d: 54.34 %
Cегодня L: $1.0851 - H: $1.1536
Капитализация $64.213b Rank 6
Цена в час новости $ 0.3035 (271.63%)

xrp ripple bitcoin correlation low btc diversifier

Источник: newsbtc.com

xrp ripple → Результатов: 126


Фото:

XRP выросла на 20% после встречи гендиректора Ripple с Трампом

Американское издание FOX Business сообщило, что генеральный директор Ripple Брэд Гарлингхаус встретился с избранным президентом США Дональдом Трампом. На фоне этой новости криптовалюта XRP выросла на 20% — до $0,9842.

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Сколько XRP у Ripple? Компания раскрыла свои резервы

Недавно Ripple опубликовала отчет по XRP за четвертый квартал 2024 года, в котором поделилась, сколько именно XRP у нее на счетах. Судя по отчету, Ripple держит запасы в двух «карманах»: Свободный XRP — токены, которые у компании прямо в кошельке.

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Фото:

Ripple at crossroads as co-founder moves 30 million tokens amid reserve surge

Ripple (XRP), one of the most prominent cryptocurrencies, has garnered attention due to a series of significant market and on-chain events that have left the XRP community uneasy. With developments around large token transfers and increasing exchange reserves, questions have arisen about the future direction of XRP’s price. In this article, we explore these key […]

2024-9-27 21:56


Why Ripple’s XRP Has an Edge Over Bitcoin and Ethereum in the Race for Practical Cryptocurrency Adoption

A crypto analyst from the YouTube channel AllinCrypto presented a video to prove that Ripple’s XRP has the best chance of being used as a currency compared to other cryptos. His argument is that the strength of XRP is not that it uses a currency but that it can enable the existing fiat currencies’ capabilities […] The post Why Ripple’s XRP Has an Edge Over Bitcoin and Ethereum in the Race for Practical Cryptocurrency Adoption appeared first on CaptainAltcoin.

2024-8-29 23:45


Ripple начинает тестирование своего стейблкоина на Леджере Ethereum и XRP

Компания Ripple, ориентированная на предприятия блокчейн-сервис и создатель XRP Ledger (XRP), сообщила в пятницу, что начала тестирование своего стейблкоина в сети Ethereum (ETH) и XRP Ledger. “В настоящее время Ripple USD находится на стадии бета-тестирования и проходит тщательную проверку нашими корпоративными партнерами”, – говорится в сообщении компании в блоге.

2024-8-10 01:38


Ripple переместили 150 млн токенов XRP

Команда финтех-стартапа Ripple, стоящего за токеном XRP, перевела около 150 мдг XRP из своих резервов на различные криптокошельки. Суммарная стоимость переведенных токенов XRP составляет примерно $66 млн.

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