The Long Game https://medium.com/@tradingene/the-long-game-290bddc4fb82It’s possible, then, that Ripple is the cryptocurrency best playing the long-game where others are not. Though this is nothing but speculation at this point, the market shows signs of this being the case, as Ruslan Mikhailov, head of market research and trading at Tradingene points out.
“Right now I don’t see any indications of a possible price surge in the nearest future. The trading volume is average, price didn’t show any signs of possible hysteria. However, I’d say that Ripple still stays the cryptocurrency that is most susceptible for dramatic upward jumps.
“Ripple experienced more than 100 per cent surge in one day twice during its history. These historical events are now deeply ingrained in market participants minds — those who traded it and the newcomers who were lured by this amazing return. Because of this, traders will always be a little bit nervous. They tend to consider even medium changes as a potential indication of a price surge.”
In the crypto world, perception is key, and Ripple will almost certainly benefit from its past performance. Its drop at the start of the year came at the same time as Bitcoin, Ethereum and other coins were hit, and so Ripple’s reputation was not impacted to the same extent as it may have been.
“[It] created a feeling that Ripple’s drop was a consequence of the overall market dragging it down, rather than Ripple’s own problems or issues,” Mikhailov continued. “Traders tend to prescribe bad things to something out of their control, while good effects are prescribed to traders themselves and to a particular currency.”
