Ripple’s Crypto Token Shows Low Volatility Making XRP An Ideal Hedge During Bear Market Conditions
During bear runs, it is hard to find assets that work as you would expect. This is quite normal since BTC has close links to other cryptos in value. XRP has once again proven to be the odd one out. It has suffered very small losses in USD since the Bearish cycle set it.
XRP Going Against The Grain
It has been quite tough for all cryptos this week. The total market cap went down by a further $15 billion. It has become quite clear that this is not going to be a good time for crypto. Unfortunately, for those who own crypto, nothing is going to change in coming days. Right now is not a good time to own crypto if you are faint of heart.
For XRP nothing bad seems to be happening. While it lost about 3% in value, it is not behaving like other cryptos. XRP is still holding strong at around $0.49, and it might even reach $0.5 soon. A major surprise is how it gained value to the BTC. It managed to gain about 9.2%, which pushed the value to 10,000 Satoshi.
This has sparked off a major debate on social media. The XRP clearly holds the cards presently. Besides that, the BCH hash wars are not making things any easier. The hash wars have attracted criticism. Those leading them have been called selfish.
The XRP/BTC uptrend has attracted speculators in droves. Some are confident that XRP will soon hit $0.55. However, there are no clear signs of this happening. XRP has been able to do something no other crypto has done. It has shown stability, despite the BTC price plummeting.
As expected, when good things happen, someone has to brag about it. Thus far, Justin Sun appears to be beefing with TRX. While TRON is growing, it clearly has nothing on XRP right now. Sun tweeted that banks are and would always be in control. He even went as far as calling TRX BS.
In essence, it appears that holding XRP during a bear run is a good idea. Thus far, many traders appear to be moving into stable coins. However, XRP would be logically the best way to hedge right now. No one expected this to happen. However, those who could see the larger picture could see the possibility of a thing like this taking place at some point.
The BCH Hash Wars
Most people expected some price disturbance when the hard fork for BCH took place on November 15. However, no one expected the current downtrend that is taking place. Things have been especially brutal for BCH holders.
They have lost 44% in USD value and 33.5% is BTC value in just 24 hours. Some expect predicts that the value of BCH will go below $200 soon. The drop in value has also had an effect on the market cap ranking. For the first time in history, Stellar XLM has overtaken BCH in market cap.