The crypto industry isn’t new to volatility. This has been both an advantage and a disadvantage for the cryptocurrency market. It’s a widely held belief that tumultuous times for Bitcoin [BTC] and other digital assets are on the weekends. However, the market appeared to be stabilizing as a result of the industry seeing enormous expansion in demand and value. This doesn’t mean that volatility is negated from the ecosystem.
Bitcoin and XRP have emerged as prominent assets in the industry. Despite dealing with a lawsuit and the bear market, XRP has been lauded for its performance over the past few months. Bitcoin continues to dominate the crypto space untethered. Now let’s evaluate which crypto asset experiences volatility during the weekend.
Bitcoin
In the above-seen chart, it can be noted that Bitcoin experienced significant volatility during the second weekend of September. During this time, BTC surged from the $19K zone to $21K and its volatility was at 0.63.
A similar sentiment was carried forward to the next weekend as well. Pushing the asset’s volatility to 0.72. Sadly this did not work out in favor of the king coin and it dropped to $18K shortly. Throughout the rest of the September and October weekends, the volatility has remained in the 0.62 zone.
As mentioned earlier, Bitcoin witnessed increased volatility during the weekends over the years. So much so that its 2017 all-time high of $19,600 was attained during a Saturday. This notion persisted and about 82 percent of the weekends recorded a minimum price change of 3 percent.
But, with time, Bitcoin seemed to garner more stability during the weekends. BTC’s all-time high of $68K was acquired on a Wednesday.
XRP
As seen in the above chart, XRP has experienced quite a bit of volatility in the last couple of weeks of September. While XRP started off September with volatility as low as 0.46, this predilection did not prolong.
During the third weekend of September, XRP’s volatility rose to a high of 1.09. The following weekends experienced a similar rise as the asset’s volatility index soared to 1.14 last weekend. As of today, XRP’s volatility remains at 1.16 and is expected to surge during the weekend considering its recent pattern.
The latest volatility came as a boon to the asset as its price was moving sideways until mid-September. However, the surprise boost pushed the asset onto the $0.5 zone. At press time, the altcoin was trading for $0.50 with a nearly 10 percent daily increase.
Conclusion
XRP emerges as a clear winner here. The altcoin has time and again proved to be more volatile during the weekend as opposed to Bitcoin if the recent data set is considered. While this could be a boon, a surge in volatility could also cause corrections as the direction of its movement is uncertain.