On Monday (26 November 2018), Mati Greenspan (@MatiGreenspan on Twitter), a Senior Market Analyst at eToro, one of the world’s leading social trading/investing platforms, announced the results of a poll (conducted on Twitter last week), which asked people to vote for their favorite cryptocurrency.
In today’s “Daily Market Update” (a daily newsletter that reflects Greenspan’s personal opinion of the market rather than representing eToro’s official position, and which is “for information and educational purposes only and should not be considered to be investment advice or recommendation”), Greenspan thanks everyone who participated in the voting, and revealed the results of the poll:
What's your favorite crypto?
(Please RT for max sample.)
— Mati Greenspan (@MatiGreenspan) November 22, 2018
As you can see, XRP easily won, with 46% of the votes.
Greenspan said that he was not surprised by the results:
“This is actually well in line with what I was expecting. I've been saying for several weeks now that XRP is winning at social media. Within moments of posting the poll, a slew of responses came in from XRP supporters urging the community to vote using the hashtags #XRPtheStandard and #XRPcommunity.”
Even more interestingly, he said that he was impressed with the passion and enthusiasm of the XRP community, and expressed hope that in future, the U.S. Securities and Exchange Commission (SEC) would clarify the status of XRP, thereby making it easier for XRP achieve even greater adoption:
“However, it's nice to see such an active community surrounding Ripple. Let's wait for the decisions of the SEC and hope that eventually, the large financial institutions may consider adopting it as a payment method.”
But there was more. Greenspan said that since XRP won this poll, he felt that it was appropriate to provide “a quick technical analysis on this unique asset.” Here it is:
“Bitcoin had an amazing 2017 but in percentage terms, the gains were dwarfed by XRP, which rose by a total of 33,493% during the course of the year. The only way we can get a good look at something like this is by using a logarithmic chart, which highlights percentage movements rather than static price.
Also unlike bitcoin, the price floor on XRP has a bit of a cushion, which was provided by the run-up to the X-rapid release in late September. Thus the red line at $0.25 can be seen as strong support. The yellow line at $0.35 also played a significant role during August and September and so can be seen as a light level of support.
For now, we’re actually holding above the yellow line, which is a rather positive sign.”
At press time, according to data from CryptoCompare, XRP is trading at $0.3560, up 4.12% in the past 24-hour period.
The results of Greenspan’s poll are in line with other similar polls on Twitter in the past few months, and reflects the amazingly strong support XRP receives from its many fans on social media platforms. For example, these are the results of a poll carried out by Weiss Ratings last month:
Follow our feed to find out our answer!
— Weiss Ratings (@WeissRatings) October 11, 2018
And here is another one, this time by Ran Neu-Ner, the host of CNBC’s “Crypto Trader” show:
The results of this poll really surprised me – they show we really have a big problem in Crypto. I REALLY thought American Airlines miles would do way better!!! pic.twitter.com/9HsKaFr7Zx
— Ran NeuNer (@cryptomanran) November 18, 2018
Featured Image Credit: XRP Chart Courtesy of eToro