It’s tough to keep up with the good news for Ripple and XRP recently – sometimes even Ripple is surprised by sudden market developments.  I’m referring to Brad Garlinghouse’s reaction to an announcement by a large hedge fund founded and managed by Michael Arrington.1

Once he heard about the press release, Brad Garlinghouse tweeted2:

His reaction spoke volumes; while Brad Garlinghouse was understandably enthusiastic, Arrington’s announcement is one of the few funds that decided to make the jump towards XRP before the escrow announcement this month.  While unexpectedly early, it is most likely the first of many such announcements. Personally, I think it is a wise marketing move by Arrington to be one of the first funds to capitalize on XRP’s growing popularity. Volume is one of the key indicators for the health of a crypto network – much like a data point when we get our own health checkups.  When we go to a doctor for an annual physical, one of the tests is for blood pressure. Like checking blood pressure on a patient, tracking the volume of a crypto-currency should be considered a standard practice for investors.  It indicates a rough measurement of demand and volume of trading, regardless of the ascribed price of the asset.  For XRP, the most recent three months average volume numbers tell an interesting story. I went to coinmarketcap.com’s historical snapshots, and transferred down all saved dates from October to the present day.3  I then took the October and November snapshots and averaged them to arrive at a volume number to connect to each month.  Here is the volume chart:

XRP Ledger volume is trending upwards dramatically.  Some recent days – those without any significant news announcements – have yielded a surprising amount of volume; in one case, a half billion dollars’ worth. This chart clearly indicates that XRP is being aggressively purchased worldwide. When the Bitcoin Segwit fork(s) were announced, it caused much market uncertainty throughout the summer of 2017.  In addition, these announcements were followed closely about new trade restrictions in China for ICOs and for Bitcoin – Renminbi trading.4 Both of these crypto news items caused negative shock waves to reverberate through crypto, scaring away new investment. That trend has now reversed, and the lack of further code governance issues in Bitcoin has prompted investors to re-enter the market.  In force. Read more here…

thumbnail courtesy of wordpress.com