I think people are setting up to cash in profits (to FIAT) before or after new years (depending on tax benefits). BTC has been in a down channel for a few days and XRP moves up after each slip. I think market liquidity is moving to XRP (as the cheapest and quickest major currency) to be sold for FIAT around New Years. Example: I trade on Binance but must use Kraken if i want to transact in USD (not tether). When i want to take profits in FIAT, i sell whatever altcoin into BTC, then buy up ripple and move that over to Kraken which is the most economical way to liquidate (for me). Plus XRP price action has been a better hold position than BTC this past week or two. So if i was holding, waiting to sell, i'd be amassing XRP.
I think what we're seeing this type of action now as people set up to take profits. Or i could just take off my tinfoil hat and enjoy the ride...
I think what we're seeing this type of action now as people set up to take profits. Or i could just take off my tinfoil hat and enjoy the ride...