Ripple update: Found?! How the BTC/XRP price correlation is so tightly coupled..!!
In terms of market movement what mechanism is caused both BTC and XRP to drop sharply at 3:55 pm on Jan 13 (UTC time)?
These must be algorithms. Or bots. Or pre placed buy/sell orders. Otherwise who’s sitting around waiting to sell at exact same time as BTC? Which exchange allows setting of buy/sell trades based on say BTC price movement?
For XRP what was the volume of sell off at that time? From which wallets? Is it a small number of big account traders acting immediately on the BTC sell signal? Seems a good auto trading model to me 🙂
Of course it’s all kind of immaterial for a HODLR ! Lol.
But interesting nonetheless.
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
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