Petra International journal of Business Studies (IJBS)
Vol. 7 No. 2 (2024): DECEMBER 2024

WhaleBot Alerts Telegram Channel and Google Alerts as Information Media for XRP Cryptocurrency Traders

Lady Joanne Tjahyana (Petra Christian University)



Article Info

Publish Date
31 Dec 2024

Abstract

Ripple (XRP) is one of the most significant cryptocurrencies that attracts many traders to invest. Traders often look for information from the media as a reference for their trading management strategy. This research aims to utilize WhaleBot Alerts Telegram channel and Google Alerts as trading information media by looking for the relationship between whale transactions, news sentiment, and price returns. The researcher collected XRP whale transactions from the WhaleBot Alerts Telegram channel and XRP news from Google Alerts within a crypto winter period, from November 2021 to January 2023, and analyzed the data using descriptive statistical analysis. This research also follows several variables and formulas from previous studies. After analyzing 457 XRP whale transaction datasets, the researcher finds a significant relationship between the number of trading days and trading return on investment. The relationship shows that the more days, the greater the chance of profit. The other variables give reference patterns, such as the number of whale transactions, total whale transaction value, the most significant transaction value, and news topic. Finally, this research develops a simple XRP short-term trading model using the WhaleBot Alerts Telegram channel data and Google Alerts. In conclusion, trading initiated by XRP whale's transactions and XRP news could give a 76.53% chance of making a profit. Therefore, XRP traders can use the WhaleBot Alerts Telegram channel and Google Alerts as their trading information media.

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Journal Info

Abbrev

ijbs

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Petra IJBS (Petra International Journal of Business Studies, ISSN: 2621-6426) is a peer-reviewed journal published under the Master of Management program, Faculty of Economics, Petra Christian University (MM FE UKP). The journal serves as a vessel for exchanging business knowledge to scholars and ...