Ripple News Update
Regular readers of Profit Confidential know I’m incredibly bullish on Ripple (XRP). There is, however, something that’s been bothering me lately.
XRP trading volumes fell below $1.0 billion yesterday.
And rather than recovering, volumes continued to fall lower and lower. At the time of writing, investors had only swapped $375.9 million worth of XRP in the last 24 hours.
This is disturbing.
Ripple prices are highly correlated to trading volumes, meaning that a fall in the latter often precedes the former. This is also true in reverse. Increasing volumes was one of the telltale signs of an XRP price rally, which is something I’m always.
Written by Gaurav S. Iyer, IFC @ https://www.profitconfidential.com/cryptocurrency/ripple/price-prediction-xrp-plagued-weak-trading-volumes/ February 27, 2018 Gaurav S. Iyer, IFC