After completing 2019 as the worst Coinmarketcap top 10 token with multi-million dollar losses, investors inThey seem optimistic again and are ready to start 2020 with a positive attitude, despite the poor forecasts that are raining in the markets due to the coronavirus crisis.
A report released yesterday by the investment firm Phoenix Capital found that, according to their studies, almost all investors in XRP are optimistic. Your data reflects this Over 75% of US hodlers expect prices to risewhile an astonishing 95.65% feel similar in the rest of the world.
IG Client Sentiment Update: Our data shows that the vast majority of traders in Ripple have long positions with 95.65%, while traders in US 500 with 75.74% are at opposite extremes.
See the overview table below as well as all details and diagrams for DailyFX:… pic.twitter.com/qX0OuzLA3S
– Phoenix Capital ? (@PhoenixSquawk) April 9, 2020
In fact, XRP is the cryptocurrency that, according to Phoenix Capital, generates the greatest optimism and far exceeds itthat, although it is also bullish, does not yet touch this threshold of impossible – but dreamed – absolute optimism.
The cryptocurrencies closest to the ripple token are(Third on the list) and Ethereum fourth.
Do bad government policies help cryptocurrencies?
Interestingly, the cryptocurrency markets seem to distance themselves from the behavior and mood of traditional markets. The SP500, the Dow Jones from Germany and the French market (FR40) are the investments that create poorer expectations among investors.
This feeling is particularly important to investigate, since the governments of both countries have endorsed a policy to issue inorganic money to counter the crisis. Recently The United States ordered the $ 6 billion print to get the economy back on the move – at a rate of $ 60 million per minute – while the French government has pushed for the creation of a European Commission “mega fund” of long-term bonds with joint and several guarantees between member states. [El Español]
Lots of enthusiasm, few users
It seems that in this situation, investors could consider cryptocurrencies as a kind of safe alternative market that is free from this type of manipulation. In particular, the optimistic sentiment generated by XRP does not necessarily imply that the token is used to a similar extent.
Recent research from well-known trader and investor Crypto Rand (@Crypto_rand) revealed that last year, The number of dynamic XRP addresses has decreased by 83.3%::
Interesting decline on $ XRP dynamic addresses.
Give up or think Lambo? pic.twitter.com/SsjcoXYbMa
– Crypto Rand (@crypto_rand) March 31, 2020
This data can be read in two ways:
- Investors have lost interest in the cryptocurrency and are not giving the token real usability for transactions.
- Investors have pulled the tokens out of their portfolios and are waiting for a better financial picture.
Given Phoenix Capital’s studies and the fact that XRP’s overall market cap hasn’t changed to the same degree, the answer may be this last option, and there’s a bullish panorama behind the long faces of XRP Army members.
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