XRPUSD
Genuinely watching Ripple while trying to avoid the extremes of the pumpers. Unfortunately I got into the blockchain space late but have been devouring information like crazy. While waiting for my funds to transfer in to any exchange I could get on was painful. While waiting for a wire, then Crypto Capital to CEX, Ripple moved from 0.23 to $2 (CEX was early for the move up due to low volumes). This was beyond frustrating. When I realized my Bitfinex account was set up - yes you can trade without being verified - I felt that Ripple already went too far too fast (at $1). The latest news took it to $2.40+ but the cliff is now occurring. To me, this is more like a buy on rumour, sell on facts (aka pump n dump) than a real value play. Or is it?
Why? Anyone who really researches blockchains, knows the limitations. IOTA is hands down better and solves all the blockchain issues. I don't foresee banks or others going with Ripple if IOTA creates their own version, with none of the same issues as blockchain. Ripple was great for anyone who got in sub- $0.25, just as a spec trade but I don't see any future value in Ripple, once banks realize:
- Ripple is only needed for the short term, until they develop their own, most likely based on Tangle.
- IOTA's Tangle is better, with none of the blockchain issues.
- Financial powers use a Tangle based crypto created by IOTA.
- Governments create their own Tangle based cryptos.
Ripple was a great spec trade and I'm sure made many people a lot of money. Can anyone tell me how Ripple can make money and why that justifies a crypto value of $100B+ in market cap? I can understand the spec trade, but not the value based on technology that is already outdated compared to the competition.
IMO, the future belongs to IOTA or another block-less technology.
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Should have put neutral, not short (for some reason, not changing when editing). Still a good trading play, while watching what happens.
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Ripple back under $1 as fear sets in and herd flees? If Ripple crashes, how low can it go?
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Just a question - again coming from someone who was going to buy as spec trade at .23 but couldn’t because my funds didn’t get deposited! Aside from being trialed at moment by some financial players - what gives Ripple any true value? With 100B units, how can it justify a $200B market cap? It’s not a store of value, just a way to facilitate fiat money transfer. In 2018, I’ll bet that most countries will start on the path to their own crypto version of their own currencies. It’s inevitable. What do you think will happen to Ripple then? Currently if every transaction burns some XRP, then millions daily would burn the supply - which means it would need to be replaced. What am I missing? I’m leaning to IOTA for the non-Blockchain play and for Blockchain, seems NEM and Cardano have better tech. I was a Ripple fan when it was a quarter, but don’t see how the valuation is justified when market cap (including units not in float) is over $200B for a company not making money?
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Is Ripple headed back to test 2.09 or 1.60? Possible sideways trade for the next while? Will there be a move back to it's previous high or break down. Should prove for an interesting few days. All I know is that without regulation, groups/individuals with big money seem to be able to control these markets. Good thing they seem to be following technicals (which I am no expert at but do admire those that are). With private groups, snapchat and more, who knows what the big money players are up to. Keep the fight up you all!
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Ripple about to blast through $2...?
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Went through $2, couldn't hold and looks like it may go back to test 1.60.
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Finding support at 1.90, if it breeches, then 1.60 looks like next level
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Back to 1.90, they're trying to hold...
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1.90 breached!
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Amazing spec trade! As value, still trying to figure out where it comes from? Ripple owns 61% of XRP, total 100B units. 38.74B in circulation. Company I'm assuming is not making real profits yet or not enough to justify XRP market cap over $100B. So, really it is coming down to people speculating on XRP, as XRP is not shares in a company. Hmm. Think about it, XRP is not a store of value like Bitcoin, so what justifies its price long term? Again, great to ride the spec wave, but...
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Yah think: $100 Billion Controversy: XRP's Surge Raises Hard Questions for Ripple
www.coindesk.com/100...rd-questions-ripple/
www.coindesk.com/100...rd-questions-ripple/
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When IOTA creates a Ripple killer a USD pegged coin, XRP is done. IOTA will hopefully create this soon, as well as an Ethereum killer. Waiting for it.
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If Ripple drops below $1.60, it could be below $1 fast!
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It's breaking down, fall to $1 coming??
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South Korea to ban crypto trading? Bad news for Ripple.
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Well Ripple survived on a massive rally up from 1.60 to just over 2.20 but didn't hold it and tried again one more time on lower volume to ~2.16. This was probably a manipulated rally to try and get interest back but the real volume didn't show up. Even the Moneygram trialing XRP play didn't work.
I repeat, Ripple/XRP had no real value aside from a trade. No one in any article has answered HOW RIPPLE WILL MAKE MONEY. You that real world stuff that pays bills and keeps your business afloat. The Ripple insiders became insane billionaires off the herd...period. They were an amazing speculative trade, nothing more.
This was finally caught by those in the know:
time.com/money/50985...oing-down-in-flames/
Why the Hot Cryptocurrency Ripple is Going Down in Flames
"But not all the transactions that banks make on the Ripple platform have to use the XRP tokens, as was pointed out by The New York Times. Instead, banks could use dollars, euros, or another local currency on the Ripple platform, circumventing the alt-coin.
This cuts into what some buyers of XRP hope: that it can become a “bridge currency” used by financial institutions to make payments across borders.
In other words, as investors come to realize that Ripple the company does not need XRP the token to soar in price to be successful, investors may further cool to XRP."
I repeat, Ripple/XRP had no real value aside from a trade. No one in any article has answered HOW RIPPLE WILL MAKE MONEY. You that real world stuff that pays bills and keeps your business afloat. The Ripple insiders became insane billionaires off the herd...period. They were an amazing speculative trade, nothing more.
This was finally caught by those in the know:
time.com/money/50985...oing-down-in-flames/
Why the Hot Cryptocurrency Ripple is Going Down in Flames
"But not all the transactions that banks make on the Ripple platform have to use the XRP tokens, as was pointed out by The New York Times. Instead, banks could use dollars, euros, or another local currency on the Ripple platform, circumventing the alt-coin.
This cuts into what some buyers of XRP hope: that it can become a “bridge currency” used by financial institutions to make payments across borders.
In other words, as investors come to realize that Ripple the company does not need XRP the token to soar in price to be successful, investors may further cool to XRP."
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It's terrible when my call is turning out right but I'm in the wrong time zone...
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Great trading opp though...