New “The Tie” Data Shows How Ripple Tweet Activity Directly Correlates to its XRP Trading Volume
As many of our readers already know, the XRP community is one of the most (if not the most) active crypto-community in the world today. In this regard, data released by altcoin analyst
“The Tie” seems to suggest that there is a strong correlation between “XRP’s tweet and daily trade volume”.
On the subject, ‘The Tie’ recently sent out the following message:
“Interesting look at how correlated #XRP tweet and trading volumes are. It appears as if spikes between trading and tweet volume occur in unison. In some cases it is tweet volume leading spikes in trading, in other cases it is trading leading tweet jumps”
More On The Matter
As can be seen from the chart below, early last October (on the 2nd), the tweet volume and price of XRP increased simultaneously over the course of a 24-hour period. This exact same phenomenon was then observed a couple of other times during December (2018) as well.
With that being said, it is worth adding that Bitcoin and Ethereum too have exhibited similar signals in the past — however, XRP’s correlation with its tweet volume trump's both of the aforementioned cryptocoins by a large margin.
In closing, it is worth pointing out that it is a common practice for investment houses to pump chosen stocks on various social media platforms so as to increase their overall visibility. It now remains to be seen whether we will see the occurrence of similar trends in the near future.