Hello everyone! Hope you are having a great day!Lets start by taking a look at XRP, and talk about why I think its going to 0.05 cent. First reason is, regulation, no government in their right mind is going to let xrp/ripple come in and disrupt their central banks entire payment processing current operation (dollars/swift), its just not going to happen in this day and age. Instead of using xrp/ripple, they will continue to use dollars/swift and just modernize the processing to be instantaneous. Second reason is, inflation , xrp is highly inflated and many people holding billions of coins in wallets ready to dump at a moments notice, remember Jed McCaleb? Third reason is, TRANSPARENCY, xrp/ripple has never been audited legitimately, so we do not technically know who exactly owns all the top wallets, according to an analysis performed by BITMEX, Ripple has been unable to retrieve the first 32,570 blocks from the Ripple ledger and none of the nodes could repair or obtain the data. This means that Ripple cannot a complete an audit of their blockchain, nor a transactional analysis of the 100 billion XRP coins. So therefore, xrp/ripple claims it can never be audited, therefore basically can never be trusted by any major organization or corporation, so it will simply be left in the dust. Whether you agree or disagree, please leave a comment below letting me know either way!
Look you can see from my username that I'm biased, but I'm still gonna say it. This has got ZERO to do with technical analysis, which is what this site is all about. If you think it's going to 5c, fine. But give us TECHNICAL reasons why, not your opinions on why XRP and Ripple won't succeed. My understanding is that you can't modernise swift. It's a systemic issue with the way Swift operates. And as far as adoption by central banks goes, they are already signing up to use Ripple's suite of products. e.g. dailyhodl.com/2019/02/13/saudis-central-bank-pushes-ripple-adoption-reveals-two-new-banks-on-board-is-xrp-involved
I realise lots of crypto enthusiasts hate Ripple and XRP because they're working WITH the banks, not against them, but let's get real here. Banking is not going away. Central banks are not going away. So why not try to improve banking systems rather than disrupt them?
TradeWithTyler
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@xrpftw, There is plenty of technical analysis. Here let me explain. And my informational paragraph includes my fundamental analysis. You can have both here at tradingview! Dont get confused! OK - so you can clearly see that I've marked the current support level at 0.285, and a break below that level would give us a confirmation downtrend to the next level at 0.25. Next thing we want to look for, is the rebound off 0.25, and wait to see if we get a re-test back off the 0.285 level, and if we get rejected off that level, then that would give us bearish confirmation that we are looking for to head lower. Next thing you want to look for according to my chart, is a break below the 0.2175 level. Once we get a break below 0.2175, then we want to start watching and look for the re-test and rejection off the 0.25 level. If we get rejected off the 0.25 level, that would give us bearish confirmation to the next support lower at 0.19.
Also to your point, ripple does not improve current banking systems, considering they are already able to replicate exactly what ripple does, why would any central bank with all the power in the world, ever use some shit coin? When they can just make their own USD coin, and use their own ledgers, they will NEVER give up control of the processing system. Buy bitcoin instead. Good luck!
TradeWithTyler
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@ThumbSkin, Your welcome, but sorry, there is no chance that will ever happen, not in this universe! My intelligence comes down to common sense in this case, and its really easy to see once your head is out of the sand, that NO bank will ever use xrp/ripple. When they can in fact easily create their own system with ease and improve it to work for them. Ultimately to give them central control of the ledger, the distribution, and the transparency. XRP/Ripple cannot even be audited by any legitimate auditing company, because they claim to have lost the data from the first 32,570 blocks. Do you really believe that any major bank is going to use a system they cannot even legitimately audit? Even today, no one even knows if xrp/ripple is a security or not, and we don't know the coming regulations.
ThumbSkin
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@TradeWithTyler, I understand that's how you feel but it's simply not true no matter how much u want to believe. SBI is the largest bank in Japan. Their CEO is an executive on the board of directors for RIPPLE. They are leveraging XRP right now today as we speak. SBI controls 80% of the banking contortions in Japan (over 60 banks) and will be implicating XRP into cross boarder payments within these 60 banks. These words r straight out of the CEO mouth. RIPPLE sold 1 Billion dollars of XRP to exchanges, banks and institutions last year. This is happening wether u want it to or not. so simply just get over. Good luck out there.
tradetraderson
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@TradeWithTyler, read what i posted. you are not being neutral at all.
hypercraft
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bro don't share TA like this, you will be bulled lol from ripplearmy :D
hypercraft
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@hypercraft, btw, since 24 april we decoupling slowly from btc and are on uptrend channel. selling pressure is no more to much
I have no idea where you get this concept about the first 32,570 blocks. I reckon you don't know what you're talking about. There isn't even a concept of blocks in the Ripple ledger, that's a blockchain thing. The Ripple ledger stores a history of transactions, not blocks. See bitcoin.stackexchange.com/questions/58139/difference-between-bitcoin-blockchain-and-ripple-ledger
I realise lots of crypto enthusiasts hate Ripple and XRP because they're working WITH the banks, not against them, but let's get real here. Banking is not going away. Central banks are not going away. So why not try to improve banking systems rather than disrupt them?