The repetitive rhythmics in the Ripple trading chart reveals the interesting tendency – XRP coins are less active during the weekends.
According to the XRP news report, delivered by blockchain analytics Flipside Crypto, the Ripple trades show a constant decrease during Saturdays and Sundays.
The report called “4 Things To Know About XRP Money Flows” analyses the daily movements of the coin and thus claims, that the unique pattern in XRP’s weekly activity shows little consumer usage.
In turn, the company suggests, that the majority of Ripple (XRP) transactions are made by institutional investors or payment processors such as MoneyGram and Intermex. Since their traders are taking the weekends off from work, so does the third biggest cryptocurrency by market capitalization.
Meanwhile, the trades during the working days keep active, although currently generating a smaller transaction volume. According to the XRP charts, the daily average transaction volume fluctuates around 950k. The number is sitting in a quite stable position, compared to a sharp peak of nearly 2 million transactions on March 13, the day after the global market crash.
According to the report, the daily activity of Ripple (XRP) trades is dominated by transactions between top movers and exchanges. The analysts see the proof of that in the constant back and forth flow of assets:
The fact that these users are only trading with exchanges suggests that most people using XRP are either market makers or speculators, and not actual consumers.
Institutional investors interested in Ripple
Although analytics like Messari claim, that Ripple is one of the worst-performing crypto-assets this year, other XRP news seems to look optimistic.
As DailyCoin informed previously, Ripple attracted the attention of various institutional investors. Digital asset custodian Anchorage, the member of Facebook’s Libra and Celo alliances, offered XRP storage to its institutional investors at the beginning of April.
Furthermore, the company made big steps into the cross-border payments market. Partnerships with the National Bank of Egypt and leading US-Mexico remittance service providers settled the Ripple company as one of the prominent players in the cross-border payments industry.