The power of the crowd: analysts have found a relationship between trading Ripple XRP and tweets

Date:

2019-01-06 20:45:08

Views:

2758

Rating:

1Like 0Dislike

Share:

The power of the crowd: analysts have found a relationship between trading Ripple XRP and tweets Source:

The Community Ripple is certainly the most active throughout cryptosphere. According to analysts, The Tie between the overall sentiment and trading volume of coins, there is even a correlation. and lose in this matter XRP, as their trades do not strongly depend on the tweets. How to use this correlation in their favor?

the

a New tool for traders

Often look to Twitter, this social platform provides the most complete picture about the momentary mood of market players.

Turns out, a surge of mentions on Twitter almost coincides with the growth of trading volumes of the asset. The initial cause of the spikes can serve as the increase in trading activity and new tweets gained popularity.

Source: AMBCrypto

As you can see on the chart above, on October 2, 2018, the Ripple frequency of mentions on Twitter and the trading volume rose in unison. Similar was repeated several times in December and January. In other words, better now «to keep your eyes open». Perhaps the monitoring of the important messages of these social networks will help to open a profitable trading position.

It is Noteworthy that a similar correlation is found in the Ethereum and Bitcoin. However, with less dependence on Twitter.

Source: AMBCrypto

Recall the recent XRP again fell to third place ranking by market capitalization. The reason for this was the sharp rise in Ethereum, cryptocurrency has doubled in price in just a few weeks.

The Tie was not without criticism. That's what the user wrote under the name Goatmuscle.

It is common practice for investment companies. They begin PAMP financial assets that are frequently mentioned in social networks among traders. Those who actively «promotes» certain promotions, often receive a good salary from large corporations.

Want to know more about trading currencies? Listen to the advice of our visitors .

Recommended

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam

co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

The Ethereum is a cryptocurrency Scam. A new report Chainalysis

When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...

Rally Bitcoin — deception. Well-known economist advises to invest in gold

Rally Bitcoin — deception. Well-known economist advises to invest in gold

Director of Euro Pacific Asset Peter Schiff does not see anything supernatural in growth . Recall that the main cryptocurrency has already risen by 179 percent since the beginning of 2019 and is now trading at the level of $ 8540. According to Schiff...

Comments (0)

This article has no comment, be the first!

Add comment

Related News

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

VEB and the Grozny mayor's office transferred the housing sector on the blockchain

In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...

Hacker 1337. How to hack Etherscan not to cause any harm

Hacker 1337. How to hack Etherscan not to cause any harm

Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...

Purchase: exchanges Huobi and OKEx support the upcoming hardwork Ethereum Constantinople

Purchase: exchanges Huobi and OKEx support the upcoming hardwork Ethereum Constantinople

Leading cryptocurrency exchange Huobi OKEx and Global announced that it will support a network refresh of Constantinople, scheduled between 14 and 18 January. Recall that Constantinople is hardwork, which will radically change the...

The crypt needs to be regulated, or a New advertising campaign exchange Gemini

The crypt needs to be regulated, or a New advertising campaign exchange Gemini

In a new ad campaign cryptocurrency exchange, Gemini, which in 2014, was founded by the Winklevoss twins, calls for better regulation of Cryptoprotected. The posters on taxi and in the new York subway with the slogan «the Cry...

BitMEX CEO: Bitcoin is still just an experiment, but he clearly has a future

BitMEX CEO: Bitcoin is still just an experiment, but he clearly has a future

is not the first step to digital money. It was up to him and DigiCash in 1990, and then the electronic version of the gold E-gold and, of course, Liberty Reserve, which allowed to convert us dollars and euros in electronic money....

Cheaper no fee for the transfer of bitcoins dropped to the lowest level in the last three years

Cheaper no fee for the transfer of bitcoins dropped to the lowest level in the last three years

a Couple of months ago about this could only dream of, but now the transaction fees of Bitcoin fell to a minimum over the last three years. Cryptocurrency holds above $ 3,000, while every day around it accumulates more and more po...

Forbes endorses: Satoshi Nakamoto was ranked 44th in the ranking of the most influential financiers in the world

Forbes endorses: Satoshi Nakamoto was ranked 44th in the ranking of the most influential financiers in the world

Anonymous inventor made it to the ranking of the most influential figures in the global financial system. Now Satoshi Nakamoto affects the world even more than mark Zuckerberg, Kristalina Georgieva, or Paul Krugman. The portal Wor...

Legendary American investor wants to invest in Bitcoin. What is the reason?

Legendary American investor wants to invest in Bitcoin. What is the reason?

a well-Known investor Gary Shilling believes Bitcoin «black box», and prefers to stay away from cryptocurrencies. In an interview with Business Insider, a financial analyst noted that digital assets too «murky and c...

ETF on Bitcoin divorce from wall street? A fresh look from the managing partner NobleBridge Wealth

ETF on Bitcoin divorce from wall street? A fresh look from the managing partner NobleBridge Wealth

Tyrone V. Ross, Jr. is the managing partner in NobleBridge Wealth & Asset Management Services. In an interview with Naomi Brockwell he told about the ETF , which is still pending approval. The expert noted that to hold coins ...

Analyst: Bitcoin will find its bottom in the range from 1800 to 2400 dollars

Analyst: Bitcoin will find its bottom in the range from 1800 to 2400 dollars

recently, the famous cryptanthus Tony Weiss took part in another public debate. This time the discussion was attended by the cryptanalyst and the economist Murad Makhmudov. The experts discussed the current state of the market and...

Bitcoin investors remained bullish sentiment. What is the explanation?

Bitcoin investors remained bullish sentiment. What is the explanation?

According to DailyFX, four of the five Bitcoin investors maintain long positions on the main digital asset . These results directly contradict the falling price of Bitcoin over the past few months. At the moment from November of 2...

Savings: after the transition to PoS network Ethereum will consume a hundred times less resources

Savings: after the transition to PoS network Ethereum will consume a hundred times less resources

will switch to Proof-of-Stake in the future. Update cryptocurrencies will reduce the energy consumption of the miners about 99%, a hundred times. Recall, many opponents of kriptonyte often cited as the main drawback of digital as...

BitTorrent launches native token based on TRON. Waiting for growth?

BitTorrent launches native token based on TRON. Waiting for growth?

peer-to-Peer torrent client BitTorrent has launched its own BTT token-based Protocol . As stated in a press release on Cointelegraph, users can share a token to increase the speed of the network, and faster file downloads. This is...

Share in herate Bitmain Bitcoin dropped to 25 percent. Industry will face a major reshuffle

Share in herate Bitmain Bitcoin dropped to 25 percent. Industry will face a major reshuffle

According BTC.com the Chinese giant kriptomayning Bitmain has lost a significant portion of its herata on the background of depressive cryptogamy. Now the share of computing capacity in the shared network is only 24.8 percent. Alt...

Why did the stock market drop is good? Expert opinion

Why did the stock market drop is good? Expert opinion

Analyst Fundstrat Tom Lee recently gave an important warning in the show Fast Money on CNBC. According to experts, stock markets are now experiencing not the best times — season report profits looks pretty «dull», and th...

Down again: Litecoin fell below the local line of support. What's next?

Down again: Litecoin fell below the local line of support. What's next?

Beginning of the year 2019 did not bring us any serious movement on the charts of crypto. The bulls of the last forces trying to defend their position, but so far their efforts do not bring significant fruit. Looking at the chart ...

Bitcoin represents the worst losing streak in 7 years. Are there any prospects?

Bitcoin represents the worst losing streak in 7 years. Are there any prospects?

in December, has experienced its longest losing series for the last seven years. The first cryptocurrency closed the year on December 31 at the level of 3689 dollars, which resulted in a 13 percent drop from the level of 4241 dol...

The most profitable business in the niche of the cryptocurrency. Lending has reached a peak of popularity

The most profitable business in the niche of the cryptocurrency. Lending has reached a peak of popularity

Bear market has knocked down many of captainvalor and related cryptocurrencies, the company which struggled hard to remain profitable. Major players in the cryptocurrency space — to captaincursor — the decline in income, shutting ...

4 key events for Bitcoin in 2019. What are they?

4 key events for Bitcoin in 2019. What are they?

Sad for cryptocurrency 2018 is finally over. Now it's time to think about what's in store for us in 2019. Put a mark on the calendar, cross your fingers and wait for important events that can have a huge impact on the price this y...

The Bitcoin Private hardwork will be held tomorrow. How to prepare for the procedure?

The Bitcoin Private hardwork will be held tomorrow. How to prepare for the procedure?

Tomorrow will be one of the most important events in the history of Bitcoin Private — BTCP will go through the procedure hard forks. A detailed list of changes given to developers. Hardwork is activated on the 500 block of 455 coi...