Maximize XRP returns with triggers
Chart
The cryptocurrency market has started to peak again the month and it seems like the consolidation phase is starting to reach its end. In the chart, we can see two lines, the green ones that depict the price of XRP against the stable coin USDT, and XRP against the unstable coin BTC.
As we can see in the chart, the XRP/USDT line has increased by 25% during January. This significant increase suggests that the downtrend is fading and the bulls are waking up again. Regarding the XRP/BTC line, it has slightly decreased. Why? Usually, when the crypto market gets bullish the most capitalized cryptocurrency is the one that hops the highest. Likewise, BTC pairs normally remain stable and even decrease.
This is a powerful insight to decide which coin to use as base coin when the market turns bullish. By taking this into account in your automated strategy, you could improve your trading results exponentially
Designing your automated strategy
With Cryptohopper you can take advantage of these situations and always maximize your returns. To face this kind of market where the sentiment suddenly turns, you can create triggers that will automatically change your template.
In this way, you can create two different templates with a different base coin in each of them, one with BTC and the other with USDT.
Example: If you configure a trigger that will automatically change your template when, for example, the Bitcoin increases 4% in 1 hour, the base coin will automatically change to take advantage of the current market conditions.
Taking this to the XRP chart, we can see that if we would have changed to a USDT market at the beginning of January, the chances to have more profitable trades would have increased.
The cryptocurrency market has started to peak again the month and it seems like the consolidation phase is starting to reach its end. In the chart, we can see two lines, the green ones that depict the price of XRP against the stable coin USDT, and XRP against the unstable coin BTC.
As we can see in the chart, the XRP/USDT line has increased by 25% during January. This significant increase suggests that the downtrend is fading and the bulls are waking up again. Regarding the XRP/BTC line, it has slightly decreased. Why? Usually, when the crypto market gets bullish the most capitalized cryptocurrency is the one that hops the highest. Likewise, BTC pairs normally remain stable and even decrease.
This is a powerful insight to decide which coin to use as base coin when the market turns bullish. By taking this into account in your automated strategy, you could improve your trading results exponentially
Designing your automated strategy
With Cryptohopper you can take advantage of these situations and always maximize your returns. To face this kind of market where the sentiment suddenly turns, you can create triggers that will automatically change your template.
In this way, you can create two different templates with a different base coin in each of them, one with BTC and the other with USDT.
Example: If you configure a trigger that will automatically change your template when, for example, the Bitcoin increases 4% in 1 hour, the base coin will automatically change to take advantage of the current market conditions.
Taking this to the XRP chart, we can see that if we would have changed to a USDT market at the beginning of January, the chances to have more profitable trades would have increased.
The best cryptocurrency automated trading platform.
-Cryptohopper-
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-Cryptohopper-
cryptohopper.com/
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