On the cryptocurrency market, the prospects for Ripple (XRP) seem to be closely linked to those of Bitcoin (BTC). This is what, among other things, reports John Lee Quigley on blokt.com in clarifying how for Ripple, after the recent downward movement, the area of 0.35 against the dollar represents the key test for a possible recovery, at the up or down, of a strong directional movement.
Because the degree of correlation BTC-XRP is increased
According to the editor of blokt.com, the degree of correlation between the Bitcoin trend and that of Ripple, has increased after XRP, against Ethereum (ETH), has conquered the second position behind the digital gold among the most capitalized cryptocurrencies in the world. Actually, Bitcoin capitalizes on $ 69 billion compared to Ripple $ 14.30 billion and Ethereum’s $ 11.50 billion.
Rescued Bitcoin and Ripple, all postponed to 2019?
‘Bitcoin has again declined by over 70%, setting the stage for a likely price increase that could start in 2019’ …
… has meanwhile declared Martin Weiss, founder of Weiss Ratings, adding however on the digital gold that this …
‘It has not kept pace with the latest advances in distributed accounting (DLT) technology that underlies cryptocurrencies.’