{"id":58526,"date":"2019-11-30T16:40:10","date_gmt":"2019-11-30T14:40:10","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=58526"},"modified":"2019-11-30T12:06:44","modified_gmt":"2019-11-30T10:06:44","slug":"xrp-could-press-higher-against-bitcoin-should-altcoin-breakout-take-place","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/xrp-could-press-higher-against-bitcoin-should-altcoin-breakout-take-place\/","title":{"rendered":"XRP Could Press Higher Against Bitcoin Should Altcoin Breakout Take Place"},"content":{"rendered":"<h2><strong>XRP Ready to Bound Higher?\u00a0<\/strong><\/h2>\n<p>After months of bleeding out, altcoins have recently started to mount a comeback. After topping at 72% earlier this year, Bitcoin dominance \u2014 the percentage of the cryptocurrency&#8217;s market capitalization that is made up of BTC \u2014 has fallen towards 67%, according to CoinMarketCap.<\/p>\n<p>While this isn&#8217;t a large gain per se, especially considering that Bitcoin dominance remains far from its 32% all-time lows during 2018&#8217;s altcoin bull run, it&#8217;s a start.<\/p>\n<p>Bitcoin Jack, a former analyst at cryptocurrency analysis and markets research group Bravado, <a href=\"https:\/\/twitter.com\/BTC_JackSparrow\/status\/1199319351196827649\" rel=\"nofollow noopener\">noted<\/a> that altcoins are starting to show some much-needed strength. He noted that the altcoin market capitalization to BTC pair could see some rapid growth should some technical analysis scenarios play out in full.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">If we print a signal of strength, you better be paying attention because things could start moving like before<\/p>\n<p>Alts are up 25% vs BTC since September 6 but if we see the SoS then we could quadrupple this quickly <a href=\"https:\/\/t.co\/xpBdEAiULC\" rel=\"nofollow\">pic.twitter.com\/xpBdEAiULC<\/a><\/p>\n<p>&mdash; \/\/Bitcoin \ud835\udd75ack \ud83d\udc10 (@BTC_JackSparrow) <a href=\"https:\/\/twitter.com\/BTC_JackSparrow\/status\/1199319351196827649?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">November 26, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The assets that stand to gain the most from this recovery in altcoins are those at the top of the cryptocurrency market ladder, like Ethereum and XRP, for liquidity is crunching capital into the upper echelons of the industry, as Adaptive Capital&#8217;s Willy Woo noted in a recent analysis published to Twitter.<\/p>\n<p>It isn&#8217;t only the technicals that signal an impending recovery in altcoins, like XRP and Ethereum, against the market leader. <a href=\"https:\/\/en.ethereumworldnews.com\/crypto-execs-altcoin-recovery-bloomberg\/\">Per previous reports from Ethereum World News<\/a>, there are industry executives that think that non-Bitcoin assets may begin to gain traction once again after 2018&#8217;s flush of lower-quality projects.<\/p>\n<p>Speaking to Bloomberg, Scott Freeman, a co-founder of the crypto-centric financial services firm JST Capital, said that \u201caltcoins will continue to catch up\u201d. He specifically cited the fact that with the \u201ctechnologies are now being adopted\u201d, alternative blockchains will be able to solve \u201creal problems\u201d, creating a value proposition and investment thesis.<\/p>\n<p>Han Kao, the CEO of Crypto Briefing, echoed this analysis. In his own comment to the outlet, Kao remarked that while he doesn\u2019t expect a 2017-like move in altcoins, projects that \u201cbegin to demonstrate clear use-cases and adoption\u201d will \u201cstart reclaiming a larger portion of investor attention\u201d.<\/p>\n<h2><strong>Altcoins Still Not a Good Long-Term Play?<\/strong><\/h2>\n<p>Not everyone is convinced that altcoins remain a good play in the long term, at least against Bitcoin. <a href=\"https:\/\/en.ethereumworldnews.com\/altcoin-portfolio-risk-bitcoin-analyst\/\">Willy Woo argued<\/a> that altcoins are \u201chighly correlated to\u00a0<a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/bitcoin-news\/\">Bitcoin<\/a>\u201c, and thus don\u2019t act as portfolio diversifiers. Instead, investments in altcoins \u201conly increase portfolio risk\u201d. Woo quipped that while cynics\u00a0say Bitcoin is \u201cold tech, too slow, [and legacy],\u201d it is the only cryptocurrency with a solidified Lindy Effect \u2014 which is the theory that the longer a technology\/asset stays alive, the more survivability it has.<\/p>\n<pre>Featured Image from Unsplash<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>XRP Ready to Bound Higher?\u00a0 After months of bleeding out, altcoins have recently started to mount a comeback. After topping at 72% earlier this year, Bitcoin dominance \u2014 the percentage of the cryptocurrency&#8217;s market capitalization that is made up of BTC \u2014 has fallen towards 67%, according to CoinMarketCap. While this isn&#8217;t a large gain per se, especially considering that Bitcoin dominance remains far from its 32% all-time lows during 2018&#8217;s altcoin bull run, it&#8217;s a start. Bitcoin Jack, a [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":57883,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[115,6971,83,7676,6957],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/58526"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=58526"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/58526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/57883"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=58526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=58526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=58526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}