We have broken down a major support with XRP/ BTC on the Weekly: There is a big downside now towards grandpa Bitcoin . But it doesn't necessarily mean weakness in USD as we will see.
XRP was -and still is- the wrong horse to ride in this whole crypto summer.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
That's true. If you ask me XRP is currenctly undervalued, future will tell if i was right or wrong :)
(for anyone reading this do you own research as I did my research)
XRP is perfectly positioned to serve as a world reserve currency. It can be held in significant quantities to provide liquidity for foreign exchange reserves, international transactions and investments, and all other uses throughout a global economy. In an earlier article (XRP was designed for $10,000), I quoted Ripple Labs’ co-founder Arthur Britto, who wrote, “XRP must be scalable to accommodate 7.5 billion people.” Does this mean that it was designed to be used by every human on the planet and to serve as a world reserve currency? Yes and yes."
"XRP will be a world reserve currency (and it will be used to pay off debt).
It will solve the debt crisis without devaluing fiat currencies. For example, the U.S. government (and other governments) could buy XRP at very low OTC rates, which wouldn’t drive prices up on the retail exchanges. Likewise, major financial institutions could also stock up on XRP at extremely attractive prices. When all systems, policies, and agreements are in place, they simply announce that XRP will serve as a reserve currency. This drives utility and demand, which rapidly increases the price of XRP. The governments could then settle their debts using XRP, which would not devalue their fiat, because they would not be printing any additional dollars or other fiat currencies.
This would explain why the U.S. administration, the IMF, and the World Bank have been so positive about Ripple Labs, xRapid, and XRP. It would also explain why the SEC and other federal agencies have not yet weighed in on XRP’s status as a security or other type of asset. It would also explain why the price of XRP has been very steady at a low price for more than 15 months, despite a constant stream of positive news about partnerships, production deals, and so forth."
Why are institutionals like Bakkt or Fidelity launching based on BTC, and not XRP if that's the case? Why is BTC price *quadrupling* instead of XRP's according to this theory?
Do you think it's possible, that the *XRP Army* is more intelligent & knowledgeable than all those institutional companies like Bakkt or Fidelity?
I dont think that Satoshi Nakaomoto thought about btc being where it is now.
It is where it is just because the hype and manipulation thats all. there is a better coin and it is under the radar of so many people
for your question, if you didnt read this : "When all systems, policies, and agreements are in place, they simply announce that XRP will serve as a reserve currency."
now it is time for accumulation, building the network.
I dont think that the XRP Army is more intelligent and knowledgeable. I think the XRP Army is more open minded about real life usecases and the solution of modern problems.