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XRP has the 3rd largest market cap and is used by large financial institutions to perform international money transfers.
Historically, the weekends remain close to flat lined or experience a sell off. Large firms do not like the risk associated with volatile cryptos.They dump during the weekends, creating a giant sell wall of any remaining coins they hold. Notably, this jumps back up Sunday evening/Monday morning.
The exception to this rule is the weekend of the 20th/21st, where the weekend high was greater than the next week's high. Only time in May that this occurred.
XRP peaked May 16-18th before it was added to Kraken and several Korean exchanges before the weekend. Not only did those who bought XRP on May 16-18 see this as an opportunity to dump (and panic dump) it occurred during the weekend turn.
New XRP speculators on new exchanges were not used to the XRP cycle. This has created a bearish trend because the newbies first experience with XRP was a massive loss.
This has created a short term bearish trend, inside of a long-term bullish trend.
Buy.
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>>2271980
I have long been noticing the weekend patters in crypto (not just XRP)
image is from may of 2016
when I first started buying the thursdays and selling the mondays
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>>2272067
BTC/USD i wanted to mention
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>>2272067
The volume difference in XRP is in the millions. Crazy stuff. I haven't done much analysis on BTC itself but I thought there was probably a weekend trend because XRP is used by investment banks and such, who's financial services are available during trading hours.
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>>2272115
I mean, volume difference weekend vs week day
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>>2272115
my theory with bitcoin back then was it was the only market open on the weekends
so all the degenerate gamblers who daytrade are moving to crypto every weekend. friday it would usually see a pump, and saturday/sunday a selloff
but also it is worth noting that at this time period BTC was being price/volume led by the chinese. When the chinese crash happened and their volume dropped to normal levels I stopped finding this method very effective
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>>2272181
It's interesting how god damn inefficient these markets are.
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>>2271980
>New XRP speculators on new exchanges were not used to the XRP cycle. This has created a bearish trend because the newbies first experience with XRP was a massive loss.
>This has created a short term bearish trend, inside of a long-term bullish trend.
that's pretty much exactly what happened to me and i told myself not to touch xrp again. i still made a few hundred by just waiting it out but it was slow and agonizing. this is an interesting analysis though and makes me consider buying in.
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