Negative outlook on XRP short term

349 4
Speculation of a continued negative direction of XRP/BTC price. It's unfortunate that it's an incredibly useful coin: one can transfer crypto from one exchange to another in less than a minute. I have no clue why this coin has been so incredibly devalued. I'd like to avoid ideological arguments about it being a "bank coin" and what not, it is just one of those technologies that seems to set off a lot of those up and coming Wall Street pizza boy crypto traders.
very neg outlook lol. its not going there
Anything that experiences parabolic price increases like XRP also suffers equally harsh retraces as market makers take profit and prepare the next run. It's all perspective. Over the last 6 weeks it's up 600% vs USD and 1000% vs BTC despite the 50% retrace.
sdellip1714 Mastodonic_
@Mastodonic_, Just about most of the semi-decent altcoins did the same. It's really all correlated to BTC price movement at this point. I'm curious to see how a potentially new dominant coin may overtake this market space.
Mastodonic_ sdellip1714
@sdellip1714, That's not entirely true. Look at the top coins during this December pump and XRP is still out performing them by an absolute mile. BCH has fully retraced its pump, ETH is up 100%, LTC is up 90%, XMR and NEO 100%. None of them have grown and held their new values as well as XRP. XRP is the only top market cap coin to be holding near 600% gains even after the dump.
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