PiCK
[Analysis] "Ripple's Circulation Speed Increases...Possibility of Breaking the Trendline"
Doohyun Hwang
Summary
- It was stated that the possibility of breaking the trendline is being raised as Ripple's circulation speed increases.
- According to experts from the on-chain data analysis platform CryptoQuant, an increase in circulation speed means that the frequency of network usage is rising.
- Ripple is currently trading at $2.15 on Binance.
An analysis has emerged suggesting that Ripple's circulation speed is increasing, which could lead to a breakthrough of the trendline. Circulation speed is a concept that indicates how frequently an asset is traded within the network.
On the 27th (local time), 'JA_Maartun', a contributor to the on-chain data analysis platform CryptoQuant, stated, "An increase in circulation speed means that the frequency of network usage is rising," and judged that "Ripple is currently showing this pattern and is likely to break through the trendline."
On this day, Ripple is trading at $2.15 on the Binance Tether (USDT) market, down 0.6% from the previous day.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
