82% of Ripple Volume is from XRP/BTC , 18% from XRP/FIAT. 71% from Poloniex XRP/BTC.

Ripple (XRP)

82% of Ripple Volume is from XRP/BTC , 18% from XRP/FIAT. 71% from Poloniex XRP/BTC.

I’ve been a holder of XRP since early 2015 while studying Business Administration with an emphasis in Accounting. I was surprised to login to my Bitstamp account and see the value surge over the last couple of days. I started to wonder why, as I would not expect any type of increase until banks start exchanging large amounts of Fiat for XRP.

Poloniex XRP/BTC accounts for 71% of the 24 hour volume. My conclusion is that Bitcoin has been fairly consistent even with the denial of the Winkelvoss Bitcoin ETF. Bitcoin traders are not enjoying the volatility they once had. XRP and Ripple labs are finally starting to release more articles and do interviews. Thus these traders made a smart move by dumping BTC into XRP and are using these new articles as ammunition to pump XRP and hype a technology and vision that has been around since 2014.

This is to be expected because XRP has had a VERY consistent value over the last year. Those who converted early from BTC/XRP at $0.006 will likely ride the swings and get out before it goes back down to $0.009.

Make smart decisions people, there’s a lot of risk here when 82% of the volume comes from Bitcoin. When the Bitcoin division passes ripple will swing back down as people dump XRP for Bitcoin, and as other traders dump XRP to get into other “Animal Spirit” Cryptocurrency markets.

82% of Ripple Volume is from XRP/BTC , 18% from XRP/FIAT. 71% from Poloniex XRP/BTC. Source ( https://coinmarketcap.com/currencies/ripple/#markets)

 

2 Comments on 82% of Ripple Volume is from XRP/BTC , 18% from XRP/FIAT. 71% from Poloniex XRP/BTC.

  1. Definately a pump. Won’t rise until proper integration, and even then, usage of XRP (rather ripple) isn’t going to be a boost, only in people’s minds.

  2. Bitcoin has seen rapid growth over the last few years and there will be some that will claim that the bubble is soon to end and the currency crumble. Some of us continue believe in the concept of an independent system away from the reach of the financial establishment. We do not accept that the currency is finished. We shall be staying with Bitcoin and are quite confident that Bitcoin will continue to rise more rapidly than before.

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