rgeddes

Another Dip In The Pool Before We Dry Off - Ripple!

BITFINEX:XRPUSD   Ripple / U.S. Dollar
I predicted a drop down to .43 which we've hit for a second time in less than two weeks.

Ripple seems to be following BTC             much like the other ALT coins. This is regardless of any positive news - its not a reflection of the Ripple project.

Cryptocurrency unlike stocks do not trade on a price to earning basis so valuation. Ripple is difficult to evaluate with traditional means.

I evaluate Ripple this way. BTC             and ETH are expensive and can't double or triple as fast as XRP can. Ripple is not simply the world 3rd largest cryptocurrency - its also bigger than the 4th and 5th put together.

This short term consolidation happens every year. This year with institutional money getting ready to buy in - many people are still predicting a 25k             bitcoin             by year end which would mean XRP would be measured in dollars. This is speculative of course - but so is everything about crypto.

Right now we are playing the same games as BTC             - banding between about .50 and .43. Its unreasonable to think the market wont pick a direction at some point - we've been in this area for a long time. In order for XRP to go up - we need more btc             support - and we need enough confidence in ripple to break through .48 and .50 convincingly enough to stay above .50.

We are still very much in a buy situation.. One day of gains can turn this whole thing around..
really? 0.50 ~ 0.43 ?
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