I thought every one figured out this was a blatant ponzi scheme. Insiders did make up fake partnerships. Insiders (cost basis of zero btw) did keep selling in plain sight. Incredible... They sure don't call it "dumb money" for nothing.
From 3.50 to 0.0005 LOL! This will be hilarous.
Probably bounces on the way down, but ultimate fate is ZERO.
I see a big buy with no stop loss at sub 1 cent. Stop loss is zero, target is *10 or more. At minimum *5. When I say big I don't mean the position size but how I view the trade, as a "big one". No point having a stop loss, might as well hold bags. Risking 1 to make 10. No point trying to risk 0.5. This is how I see it. The lower it goes, as long as it does not go straight to zero, the harder it will bounce and go to 1 cent or more at least (even if it falls another 50%).
If this scam gets banned by then or exit scams all at once the trade is invalidated. I have no interest in the 10 cents and 5 cents supports. Staying away.
If anyone is actually buying into this post, I suggest going to do your own research by starting with the Ripple website. You can also check out our posts but essentially it is true XRP is being sold from escrow. Ripple Labs controls about 50 billion XRP right now which is down from 80 billion and the remaining is being sold FAST! They hold the XRP in escrow and have been selling to REAL BANKS and other INSTITUTIONS. A portion does go to the open market but a lion share is sold to banks. Unless all the banks that are buying XRP are part of a giant conspiracy, logic says that what Ripple says to be true is true which is that they are distributing the XRP token for real world use! PS, USA’s second largest bank, Bank of America has a patent naming “Ripple” as a facilitator of their new technology.
MarketMotives
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Bitcoin is more of a ponzu scheme than XRP. XRP is being used to facilitate actual transfer of currency. Bitcoin is more or less being accumulated and therefore price is going up. Both will likely succeed!
Kool_Keith
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@MarketMotives, "Bitcoin is more or less being accumulated..." Oh, is that what's happening? LOL
lemonsandshade
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+1 for comedic value
Cronos2018
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At least Make your hate towards xrp not that obvios.
UnknownUnicorn3259845
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@Cronos2018, Some people just love to hate, only thing to hang to
kardia
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@Cronos2018, XRP certainly has its issues, but if anything in this market has potential to become a widely used global digital currency, it is XRP. Might as well try to make a profit from it.
UnknownUnicorn3259845
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Great indicator to go long dyor
knowlton23
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Not a big fan of Ripple myself. But if I felt the absolute bitterness and hatred of MrRenev, I'd probably just do the world a favor and jump off a bridge.
Thanks a lot for the laugh.
Thanks a lot for sharing.
Namaste.