Ripple News Today – New Report Explains Why XRP Remains Relatively Stable Over the Weekends – May 8th, 2020

  • Flipside, a Blockchain Intelligence Firm Released a Report Showing That XRP Hardly Records Any Activity Over the Weekends
  • XRP Maintains Relative Stability Holding the $0.21 Support Firmly 

Ripple News Today – Ripple XRP is one of the few tokens that doesn’t follow the exact trend Bitcoin sets in the market. The relationship between XRP and Bitcoin has reduced significantly over the years. XRP has formed its trading pattern which is often bearish when it’s not stuck in one trading range. According to a report by Flipside, a Blockchain intelligence firm, Ripple XRP has developed a pattern of maintaining relative stability almost every weekend. The report explained why the token maintains this stability.

Ripple News Today – Flipside Crypto Explains Ripple’s Price Pattern Over the Weekend

Flipside Crypto stated that activity on the Ripple ledger slows down during the weekends explaining why the price of the token remains relatively stable even this weekend. The report, which was titled “4 Things To Know About XRP Money Flows”, analyses how the XRP token flows through its ecosystem. It noted that the drop of activity on the XRP Ledger during the weekend is most likely due to the lack of retail interest. Part of the report stated;

“The bar chart above shows a clear pattern, with significantly lower XRP activity on weekends than during business days. This is not the case for other chains such as OAN or Zilliqa, whose activity on exchanges is instead constant throughout the week. This suggests that the majority of XRP transactions are sent by professional investors or payment processors such as MoneyGram and Intermex.”

The CEO of the blockchain intelligence firm, Dave Balter, during an interview with Cointelegraph, has this to say about the XRP token;

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$1.011.22%

“There are several impressive blockchains just heading into mainnet, such as Near, Flow (Dapper), Celo, and Solana. They are launching with a customer-first mindset and real-world use cases. For example, Flow has already inked deals with the NBA and Warner Music, and Celo’s solutions are tailored to aid the financially underserved. Expect big things from these four in 2020 and beyond.”

Ripple News Today – XRP Price Remains Relatively Stable As the Weekend Kicks Starts

In line with this theory, the activity surrounding the Ripple XRP token has started slowing down as the weekend approaches. At the time of writing, the price of the token was $0.217324. This means that it is up by 0.59% against the USD and down by 5.76% against the price of Bitcoin BTC. The trading volume over a 24 hour period is $2,559,195,329 and the market capitalization is $9,586,791,739. It has managed to hold the support at $0.21 even after losing the one at $0.22. If the token can hold this level through the weekend, there might be hope for a retest of the $0.22 level next week.

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