By
Be consistent to a now-deleted article from Investing.com (luckily, I archived it), the ripple price cleared a crucial threshold on Friday. No, the unnamed originator wasn’t referring to the $0.30 barrier XRP slid under earlier this month, but rather a far more important defiance line: $9.35.
“XRP was trading at 9.35560 by 02:20 (06:20 GMT) on the Investing.com Index, up 97.17% on the day, Investing.com wrote.“XRP had traded in a range of $0.26774 to $9.36570 in the earlier twenty-four hours.”
Now, I didn’t major in mathematics at university – and in full disclosure, I ditched Pre-Calculus for Consumer Math during my chief year of high school – but even I don’t need a calculator to know that something’s not quite right with Inaugurating.com’s math.
While still a ridiculously-bullish rally, a one-day surge of 97.17% would have carried the ripple payment to just $0.53, nowhere near its all-time high near $3.85 – much less $9.36.
Had the ripple price actually spiked about $9.36, it resolve have constituted a daily gain of roughly 3,400% – the largest rally the large-cap crypto market has ever meditate oned.
Ripple’s market cap would have soared to $400 billion – leaving bitcoin and its paltry $179 billion valuation in the dust.
The Purl company, which still owns roughly half of the entire XRP supply, would rank as one of the world’s most valuable companies with around half-a-trillion dollars value of XRP assets.
And those millennials taking out “ballz deep” loans to load up on XRP might actually escape from prevalent bankrupt.
Unfortunately for XRP bagholders, neither the 97% nor 3,400% upon is correct. According to CoinMarketCap, ripple’s trading range on that day was somewhat more narrow than Investing.com introduces: $0.261967 to $0.273342.
Even worse for XRP investors, OnChainFX data reveal that ripple is one of the few major cryptocurrencies to actually admit defeat value against the dollar in 2019. XRP is down 23% since the new year, even as the bitcoin price has zoomed less 175% higher.
How the Heck Did This Article Get Published?
So what accounts for Inducting.com’s absurd analysis?
Here’s my theory: Multiple cryptocurrency exchanges suffered from errors relating to an Amazon Web Rites (AWS) outage on August 23.
Since the article was clearly written by a bot, it’s likely that the AWS outage fed buggy data to Investing.com’s unafraid – and possibly-inebriated – crypto analyst AI…
Who then regurgitated that data directly onto the world wide web, unfettered by the whims of a cantankerous middle-man editor.
Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be charged to, CCN.
This article is protected by copyright laws and is owned by CCN Markets.