The video discusses the correlation between XRP and Dogecoin, which has been observed for some time. The content analyzes the correction percentage of Dogecoin and compares it to XRP’s current price, suggesting that XRP may follow Dogecoin’s pattern and experience significant growth. Contrarian investing is recommended, with the video arguing that it may be worth holding onto XRP even if there is a chance of the price going down. The video concludes with a discussion of the intraday gains made by XRP against BTC.
Diving into the Correlation Between XRP and Dogecoin
Hey guys what is up, it’s Dusty here and welcome back to another crypto video. Make sure that you press the like button and subscribe to the channel because we have something really interesting to talk about today.
The XRP and Dogecoin Correlation
About four days ago, I made a video talking about the correlation between XRP and Dogecoin. Many of you were laughing and talking about how we wouldn’t want this to happen. However, the whole Dogecoin and XRP correlation was a lot more interesting and realistic than we anticipated.
Let me show you guys why. This correlation chart was drawn just a few days ago. There were a couple of these correlation pieces written in 2019. If you type in XRP Doge, you’ll find one correlation chart, for example, from 2019.
Length of Correlation
Doge and XRP have had a correlation for a very long time, and at multiple timeframes, have people noticed that. Once more, I disregarded this correlation deal mostly because you can find similarities for a good chunk of the road to time.
Similarities of History
Another point is that everything that happened to Doge is most related to Elon Musk and what he was doing here with the pumping up Doge. History doesn’t have to repeat itself in the exact same way.
Observation of Dogecoin Prices
If you take a little bit of a look at what happened in the Dogecoin price, you can see if we were to follow along, it would place XRP at about 87 cents. XRP dumped where did it go? Well, it went to around 85 cents.
Comparing XRP and Dogecoin Analysis
If we just made our bottom right now, that would be a 1271 percent as first. Again if we were to take this rise of about 1200 percent to about $11.50, we’d have to go down about 50 percent to around $5.
The contrarian investing is the way to go about it. I buy the dip every single time, and even today, the intraday from the lowest point to the highest point here, we’ve already gone up a whopping 30 percent about 28 point something.
So, is it really worth it to sell your whole position if this is probable? That’s the analogy of my roulette bet which I usually put up. The only thing you’re kind of wondering here is when are we going to go to the level that we’re talking about.