nicholasyong6116
liked
Potential Reasons for the drop
1. Fed's Interest rate cut
On December 18, the Federal Reserve lowered interest rates by 0.25%. Although expected, this led to a sell-off in stocks and cryptocurrencies, including XRP, as investors worried about a potential economic slowdown.
2. (Biggest reason) Significantly less activity on XRP’s network:
XRP’s usage has decreased sharply. Payments on the network have dropped from 3 billion XRP to under 300 million, and active accounts hav...
1. Fed's Interest rate cut
On December 18, the Federal Reserve lowered interest rates by 0.25%. Although expected, this led to a sell-off in stocks and cryptocurrencies, including XRP, as investors worried about a potential economic slowdown.
2. (Biggest reason) Significantly less activity on XRP’s network:
XRP’s usage has decreased sharply. Payments on the network have dropped from 3 billion XRP to under 300 million, and active accounts hav...
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nicholasyong6116
liked
Timeframe: Dec 16
A slight 2.5% decrease over the past 24 hours (this is nothing in crypto fyi)
Let's talk about the price movements. XRP reached a peak of $2.90, before entering a consolidation phase. It has since been trading around $2.2 - 2.4. This indicates a period of price stabilization.
Following a significant rally, XRP has become the third-largest cryptocurrency by market capitalization but as of now, it is back to ...
A slight 2.5% decrease over the past 24 hours (this is nothing in crypto fyi)
Let's talk about the price movements. XRP reached a peak of $2.90, before entering a consolidation phase. It has since been trading around $2.2 - 2.4. This indicates a period of price stabilization.
Following a significant rally, XRP has become the third-largest cryptocurrency by market capitalization but as of now, it is back to ...
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nicholasyong6116
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$XRP (XRP.CC)$ After today. I will no longer be using Moomoo. You can follow me on StockTwits. TradeGuyNick.
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nicholasyong6116
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$XRP (XRP.CC)$ BUY!!!
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nicholasyong6116
voted
$Bitcoin (BTC.CC)$ tonight will be dump again?
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nicholasyong6116
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$Cardano (ADA.CC)$
To reiterate my previous point. Why are dips and consolidations necessary and healthy?
Dips and consolidations are necessary to get rid of traders with paper hands. During the bull run, many novice traders rush and FOMO into the pump. As a result, consolidations are needed to force paper hands to sell. Without consolidation, massive crashes would occur as paper hands would sell at the slightest sign of volatility.
As such, consolidations would help bu...
To reiterate my previous point. Why are dips and consolidations necessary and healthy?
Dips and consolidations are necessary to get rid of traders with paper hands. During the bull run, many novice traders rush and FOMO into the pump. As a result, consolidations are needed to force paper hands to sell. Without consolidation, massive crashes would occur as paper hands would sell at the slightest sign of volatility.
As such, consolidations would help bu...
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