Binance Report Says There’s Low Correlation Between Ripple’s XRP And Bitcoin (BTC), XRP Still In $0.30 Price Range – ZyCrypto

XRP The Standard? Why Did Coinbase Choose XRP Over Bitcoin?

A new research report by Binance has stated that XRP has low correlation to Bitcoin (BTC). This comes as no surprise for those who have been watching the market up close. While Bitcoin and a majority of cryptocurrencies have had dramatic short term surges and plummets, XRP has remained very stable.

Though in nature, cryptocurrencies are very volatile, XRP has proven to be very steady in movement. This has made XRP one of the best cryptocurrencies to diversify into to reduce investment risk. With many cryptocurrencies following Bitcoin’s trend, having XRP in your portfolio ensures you are partially safe in case of a huge drop by Bitcoin.

In the last couple of weeks, XRP has remained within the $0.29 and $0.35 position. For much of the time, XRP has been trading in the $0.30 position, showing a high level of stability in what has been a very rampant couple of weeks.

XRP Price Update

Although XRP’s lack of fast response during market-wide rallies has posted a couple of concerns for holders, the sentiment on its future remains positive. Not only has technical indicators including high trading volume been pointing out to some bullish days to come, but, its Ripple project has also been enjoying positive developments. As we reported, the project has now partnered with the world’s second largest global money transfer company.

Additionally,  In the last couple of days, NASDAQ has announced the addition of the XRP Liquid index. This saw bulls sweep in fast and push prices up, fully capitalizing on the announcement.

Though this has played a great role in the short term, it will fully take effect in the long term. The addition of the XRP liquid index will help boost adoption for XRP and see it become exposed to new investors.

At the time of press, XRP is trading for about $0.303 having just slipped in the red zone following a correction after the bulls pushed prices up yesterday. As long as XRP is above $0.30 it is deemed to be bullish and its current range means it is playing right into the hands of the bulls. Though the bulls will continue to advocate for higher prices in the short term and long term, it is pretty clear that the game plan for XRP is long term.

What’s Your Thought On This ?, Let Us Know In the Comment section Below.


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SKY – Skyline (SKY) Tops Q1 Earnings and Revenue Estimates

Skyline (SKY Quick QuoteSKY – Free Report) came out with quarterly earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 33.93%. A quarter ago, it was expected that this manufactured and modular housing maker would post earnings of $0.36 per share when it actually produced earnings of $0.61, delivering a surprise of 69.44%.Over the last four quarters, the company has surpassed consensus EPS estimates four times.Skyline, which belongs to the Zacks Building Products – Mobile Homes and RV Builders industry, posted revenues of $510.2 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 14.48%. This compares to year-ago revenues of $273.29 million. The company has topped consensus revenue estimates four times over the last four quarters.The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.Skyline shares have added about 85.5% since the beginning of the year versus the S&P 500’s gain of 16.8%.What’s Next for Skyline?While Skyline has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Skyline was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.43 on $417.25 million in revenues for the coming quarter and $1.88 on $1.73 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products – Mobile Homes and RV Builders is currently in the top 4% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

PRIM – Primoris Services (PRIM) Lags Q2 Earnings and Revenue Estimates

Primoris Services (PRIM Quick QuotePRIM – Free Report) came out with quarterly earnings of $0.68 per share, missing the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.45%. A quarter ago, it was expected that this construction contractor would post a loss of $0.09 per share when it actually produced earnings of $0.32, delivering a surprise of 455.56%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Primoris Services, which belongs to the Zacks Building Products – Heavy Construction industry, posted revenues of $881.61 million for the quarter ended June 2021, missing the Zacks Consensus Estimate by 3.25%. This compares to year-ago revenues of $908.22 million. The company has topped consensus revenue estimates two times over the last four quarters.The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.Primoris Services shares have added about 7.2% since the beginning of the year versus the S&P 500’s gain of 16.8%.What’s Next for Primoris Services?While Primoris Services has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Primoris Services was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.84 on $1.03 billion in revenues for the coming quarter and $2.40 on $3.74 billion in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products – Heavy Construction is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

DEI – Douglas Emmett (DEI) Beats Q2 FFO and Revenue Estimates

Douglas Emmett (DEI Quick QuoteDEI – Free Report) came out with quarterly funds from operations (FFO) of $0.47 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to FFO of $0.41 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 6.82%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.43 per share when it actually produced FFO of $0.44, delivering a surprise of 2.33%.Over the last four quarters, the company has surpassed consensus FFO estimates three times.Douglas Emmett, which belongs to the Zacks REIT and Equity Trust – Other industry, posted revenues of $225.01 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 3.17%. This compares to year-ago revenues of $207.8 million. The company has topped consensus revenue estimates two times over the last four quarters.The sustainability of the stock’s immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management’s commentary on the earnings call.Douglas Emmett shares have added about 12.7% since the beginning of the year versus the S&P 500’s gain of 16.8%.What’s Next for Douglas Emmett?While Douglas Emmett has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.Ahead of this earnings release, the estimate revisions trend for Douglas Emmett was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $0.45 on $222.51 million in revenues for the coming quarter and $1.79 on $887.11 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust – Other is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

BRY – Berry Petroleum (BRY) Reports Q2 Loss, Misses Revenue Estimates

Berry Petroleum (BRY Quick QuoteBRY – Free Report) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.29%. A quarter ago, it was expected that this independent upstream energy company would post earnings of $0.01 per share when it actually produced earnings of $0.07, delivering a surprise of 600%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Berry Petroleum, which belongs to the Zacks Oil and Gas – Integrated – United States industry, posted revenues of $99.25 million for the quarter ended June 2021, missing the Zacks Consensus Estimate by 9.17%. This compares to year-ago revenues of $33.45 million. The company has not been able to beat consensus revenue estimates over the last four quarters.The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.Berry Petroleum shares have added about 52.5% since the beginning of the year versus the S&P 500’s gain of 16.8%.What’s Next for Berry Petroleum?While Berry Petroleum has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Ahead of this earnings release, the estimate revisions trend for Berry Petroleum was favorable. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.16 on $134.37 million in revenues for the coming quarter and $0.32 on $498.7 million in revenues for the current fiscal year.Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas – Integrated – United States is currently in the top 17% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.