Mid September Markets Update & AI ALPHA XRP Algo Trading Strategy at Glance
September so far has been full of important global macroeconomic events. After the successful completion of the Merge upgrade the crypto markets have seen significant volatility, Bitcoin and Ethereum price movement managed to provide both a weekly and monthly candle favoring the bears.
Here are some highlights of why the cryptocurrency markets may become even more volatile during September:
- The ECB(European Central Bank) raised its key interest rates by an unprecedented 75 basis points on September 8 and promised further hikes, prioritizing the fight against inflation even as the bloc is likely heading towards a winter recession and gas rationing. Read more here.
- The long-anticipated Ethereum Merge upgrade went through on September 15. As expected, “sell the news” factor has kicked in and the price of Ethereum has fallen from $1792 (September 11) to $1356(September 20) which has led to uncertainty and high volatility in the altcoins markets.
- The total altcoins market capitalization excluding Bitcoin is back to $528+ billion reaching its lowest since the end of July 2022.
Altcoin market cap 1 year candle chart. Source: TradingView
- The FOMC(Federal Open Market Committee) meeting on interest rate hikes will be held on 20–21 September.
- The long-awaited Cardano blockchain’s Vasil hard fork upgrade is now scheduled to take place on its main network (mainnet) on Sept. 22. Vasil is a major upgrade designed to increase Cardano’s scaling capabilities and reduce transaction costs, and had originally been scheduled for a June release on a test network. A hard fork is a backward-incompatible change to the software used to validate and produce new blocks. Read more here.
- Ripple and the SEC both agreed to expedite the lawsuit on Friday to get an answer on whether $XRP is a security or not. Learn more here.
XRP’s price in September has also positively impacted some of the algorithmic trading strategies in the Mercor Dapp. Let’s have closer a look at the AI ALPHA XRP which currently has a 39.87% APY on a monthly basis:
AI ALPHA XRP Algo Trading Strategy at Glance
AI Alpha is developed by a professional team of Quantum Engineers who developed multiple strategies and further fine-tuned them over the past several years! It’s one of the best strategies in the market! Their benchmark is beating the market, beating the Buy & Hold strategy! AI Alpha is a multiple indicator strategy developed using technical indicators empowered with machine learning to catch trends early and stay longest time possible.
Copy Trade AI ALPHA XRP Algo Trading Strategy here.
Automated Algorithmic Trading by World Class Algorithms
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Are you an investor or a trader with an interest in algorithmic trading? Head over to app.mercor.finance and enjoy world-class algo trading strategies!