Since the highs of the bull market in 2017-2018 Ripples XRP has not fared too well. The third-largest Cryptocurrency by market capitalization according to data from TradingView.com of your all-time high of 3.40 to the Dollar to more than 94 percent.
Although Ripples XRP has recovered in the last few days with the Rest of the crypto market, there are some indications that the Altcoin is ready to take a completely different development than competitors like Ethereum and Bitcoin.
Such a sign is the below transaction (and another exactly like this one), the Whale Alert on the 30. April has been recorded.
The Twitter-Bot discovered that Ripple, the Fintech company, which is closely connected with XRP, has just received access to 1,000,000,000 of the crypto-currency, which will be assessed at the time of writing, with $ 210 million.
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It is to be feared that these tokens can be sold on the free market, which pushes prices down, although the company’s CEO claims that his company is holding XRP with violence on the ground.
Not the only warning sign in the case of XRP
Although it is very likely that Ripple ends up at the end of a good part of the XRP that have just been released from the escrow account, there are other factors that suggest an imminent correction of the asset – at least a correction against Bitcoin.
A pseudonymous derivatives Trader writes that the crypto-currency based on a “promising technology” that there are, however, no guarantee that they will ever again achieve gains that match those of 2017.
With reference to the fact that the charts below looked like XRP, writes the Analyst:
“Here are just a few of the hundreds of 10-year Charts that you can find for a ‘promising technology’. You will see a Similarity? In many of these charts, there are forums where still about the impending recovery is spoken.“
The Trader writes that, in his view, those who still hold on to the hope that XRP will recover, due to their emotional attachment to their investment in the crypto-currency is the “magic of the cognitive bias” be exposed to.
Another Top-of-the Chartist warns that the macro diagram of the crypto-currency one of the “fear is worrying most diagrams”, there is. He refers to the lack of historical liquidity on the lower level and to the fact that XRP was rejected as an important Horizontal.
All the Altcoins are below average cut
Some even claim that the entire Altcoin system class will be in the coming months, under the Performance of Bitcoin.
A crypto-Trader, a market research company BlockFyre commented that he had reduced his involvement in Altcoins strong, because he believe that bitcoin is semi-lead to volatility, which in turn has the consequence that Altcoinn “rectly” (destroyed).
The Analyst believes that Altcoins such as the game “trip to Jerusalem”, since the reasons why they rise and Pentoshi, all are “red flags” – and no fundamental developments:
“The reason why the Old Pumps are not convincing, is, that they have followed the same Patterns. IEO’s, interoperability, Privacy-Coins move together. It is coordinated, as it was in the last 3 years of the case, rather than having all the ships rise together.“