Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => XRP - Ripple Forum => Topic started by: Goodcat49 on October 26, 2018, 05:59:52 PM
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Ripple's token demonstrates a conspicuous resilience to the world stock market sell-off in this very week. The evidence is increasing that Ripple (XRP) has began its fresh hunky market with its amazing breakout of Thur Sept 20, 2018.
This is in line with Ripple prediction for next year as well as 5 crypto forecasts for next year, so it should not be surprising.
We are optimistic that Ripple sellers have exited the field. However, only buyers can make an upward effect on price.
Where sellers don't exist, the market has only buyers and synthetic short selling is impossible, just like BTC futures.
The Crypto Correlation
The traditional correlation between Ripple and Nasdaq index appears to be feebling. Of course, that's good news for digital currency giants, particularly XRP bulls. It absolutely alludes that XRP is trailing to be the new Bitcoin (BTC).
Note on the XRP chart deep-rooted below how the Nasdaq index traded off thrice in October this year:
"The first sell off in the first week of Oct triggered a significant sell off in XRP; The second one (Oct 11) triggered a crash in XRP with a drop of around 30%; The third one (Oct 25) hardly impacted Ripple's price."
The nudiustertian resilience is extraordinary and noticeable, and it gets one thing: XRP sellers have depleted in the region below the structural support that is below $0.4.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/xrp-noticeable-resilience-after-nasdaq-selloff/
(https://coinidol.com/upload/resize_cache/iblock/f1e/900_900_1/f1ed88e40303eb9e42b59a9731bbfc0f.png)