First, what is the definition of Market Cap? It's: (number of coins) TIMES (current price per coin)
That's it. This simple formula, probably because of its simplicity, has lead to a rabid adoption by the general masses as some form of meaningful indicator. No serious investor acknowledges this sensationalist figure for technical analysis purposes, with perhaps the exception of its psychological effects on inexperienced traders.
#ripple #xrp #cryptocurrency
🤩 Remember I am not a financial advisor and do your own research before investing! 🤩