Tons of craziness and opportunity knocking at the door. I posted my last XRP post on August 11th. I received some pretty combative replies on my personal opinion that XRP will be achieve $1000 within five years. As I've responded in the past, I truly love the debate. It helps to weave healthy opinion and understanding about a particular topic or project. One of the main points used against XRP achieving $1k is its total supply of 100B. On face value that seems to make sense. But in the real world, the majority of the circulating supply will never be in play. Institutions, investors, and such will stash away XRP for many years, if not decades. Other conditions will continually reduce the supply, such as loss and burn rate. XRP cannot be inflated at will like fiat. The supply will continue to be dynamic, varying wildly at times depending on market sentiment.
I purchased more XRP a couple of hours ago at .291¢. I have never seen such low liquidity ever! A complete stand-off! Good size buy-wall compared to the sell side. I had to move my limit order up 15 sats just to get filled. I literally watched my buy order sit for over an hour at top of the bid and only filled 168 XRP! In an hour! Now what do you think will happen to the price when massive buy orders come in over months at a time and no one is selling? Price will surge. Then add constant production on top of that. And mark my words, there will come a day when the big dogs aren't able to buy sizeable positions "under-the-table" any more. I think "under-the-table" is much more appropriate than "over-the-counter" because that's what it is. When the big dogs need to move their positions on the exchanges, it's gonna get real, and fast. Bottom line, smaller and smaller portions of XRP's total circulating supply will always be what drives the market.
Now to the fun challenge for the "naysayers." BOOOOO! It may not seem like much now but on 11 August 2023 I will post here on my account. If the price of XRP is not over $1K I will giveaway 10 XRP to each of 10 of my followers who intelligently comment to my post within 24 hours and supply their XRP deposit address. That means the price of XRP being $999.99 or less, could be worth up to $10K each. Or, according to Satis, my be less than .01¢. If the price hits over $1k on or before 11 August 2023, I will give away 100 XRP to each of five hard-core followers that reply to my post and leave their deposit address within 24 hours and 100 XRP to each of 4 charities from those my followers recommend, and one charity of my own choosing. That would total $1 Million Dollars!!! As Austin Powers would say... : ) For the 10 XRP giveaway, I alone will choose the winners from the comment section. For the 100 XRP giveaway, same applies. I will also take into consideration top comments made from followers back thru the years. But winners will only be chosen from the comment section within the twenty-four hour window after my post. Note: be aware. If XRP hits $1K before 11 August 2023, I will immediately post when it does. So you'll have to be conscious of the current price.
That's the weight of my faith in XRP domination.
Now, back to the present.
Here's where I see things currently. Massive potential is coming very soon for the use and production of XRP thru the end of Q4 going into 2019. The current XRP chart shows XRP has been in the short zone since May 9th @ .80¢, red . XRP shorts are at pretty much an all-time high. Current short-cover is at .37¢, green . If we trend up slowly from here, buying momentum will increase exponentially as we approach .37¢. If we break .37¢ we could be in for a major move up. We could still move lower, but .37¢ is the danger zone for shorts right now and I'm sure many of them have their stops set there. As I've stated previously, now is the time to increase your long position. Target every .05¢ downward move with expendable funds. NO MARGIN TRADING. That just liquidates you alive unless you're on it full-time. As XRP's price adjusts, I will re-post if the short cover zone changes.
Lastly, what about DOGE!!! Could really go big. One of my favorites as I've commented previously.
-- Get $ome!
I think $1000 is a stretch in the next 5 years because the institutions will not need to hold lots of XRP in order to perform it's function. They will buy XRP on one end, transfer in a few seconds and sell on the other end. The lack of Nostro/Vostro accounts does not help if in the future they are just held in a different currency.
As a side note... I would love to sell my XRP at $1000 or even at several hundred dollars.