This week, XRP is getting a 15% pump. The social hype around Ripple has known rough time. We have seen headlines in crypto media community saying “Ripple community is gone!” https://decrypt.co/25822/63-of-the-ripple-xrp-community-has-gone-for-good (published 16th of April, for the record)
- Over 63% of Ripple’s Telegram community members have left over the past two years.
- The price of XRP is currently down 95% since its all-time high in January 2018.
- Previously, unhappy XRP holders even threatened to fork the token unless Ripple stops dumping it..
The long-term holders started to doubt about their investment, most of the community. The fact that Ripple Labs own most of the supply has got to the nerves of community. The constant quarterly dumping has them worried.Well, the fact that we are getting to a point that emotional. That makes me bullish. I am no particularly bullish on XRP, long term definitely not.But the fact everyone and their mother were bearish on XRP makes me think that is a good time to buy. I did not back then when i saw the blog post about the dislocating ripple community. But i should have.
On the exact same date since the post saying Ripple Community was broken, the price went on an uptrend. That was a bottom indicator gentlemen. You would be up 20% if you had buy this day.
Also, the Social Volume of Ripple have seen a massive pump.
The social dominance is at 15% against 3% two weeks back. The buying pressure during the Black Thursday was massive
If you look closely, a lot of investors bought back Ripple too early on 12 of april. This exhausted a bit the buying pressure. The outflow of exchanges was at ATH. Was is interesting is, on the same date of ATL, you have a corelation with social volume ATH. This indicator does not fool anyone. It is a really strong bottom indicator for the major alts. The continue pic of exchanges outflow the week after the ATL, shows that the community is still here. Well, some of them, because how buys ?
The green is XRP price and grey is balance of decent whales wallets. Do not know why it shows the opposite.You can observe that the decent whales kept accumulating for weeks after the ATL.
Their balances is constantly tracing new ATH. When i say decent whale wallet is because the supply of XRP is concentrated in few hands. So the ones that can accumulate up to 1 million coin are rare. The retails holders are still believing in Ripple. If we look at the long term chart of Ripple, it still not in the safe long term buy zone. Thanks to my friend Florent that draw me the chart.
Not everyone has the same opinion has me because, Ripple OTC wallet is on fire lately https://whale-alert.io/transaction/ripple/ADC9DCAEA82277EFA72B24054845E0DFF883A4310FC2BDDF791176E2AC064805 Transfer : 55,000,000 XRP($10,712,476 USD)To Ripple Otc Distribution Wallet If i started this insight is because XRP showed two times in the top of the emerging trends algorithm. And one of the social context words was “buy”.
The XRP daily shows the strenght of the pump
That explains why Ripple was on top of mouths lately.I think that if it can correct a bit with decent volume it can pump more.I will look closely at trading volume and social volume. If it grows of maintain, the will prove that the Ripple pump is not over. The thing to remember is to look at bottom indicators : such as article in the news, social volume (only for top alts) and holders balance.
Not particularly a Ripple Fan, i do not had any before, i bought when my indicators saying i should. This is not financial advice. I do not believe in XRP value long term