Hello dear XRP traders & HODLers, hope you're doing well. In this video I'm going to show you, how we talked about this major break dozens of times, and what you shouldn't do currently if you're a HODLer. Have fun watching! ;)
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
“The way to make money is to buy when blood is running in the streets.”
Edgy_
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@OfficialSatoshi, Nice quote, but I don’t think he had Altcoins in mind when saying that. ;)
CryptoBullet
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@Edgy_, ahha, maybe, but It works for crypto as well. bottom is near, but this near could be 1500 sats ..
satoshinakamoto2020
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@CryptoBullet, this banana slogan was used a lot by smart guys at btc@18k$
Edgy_
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@satoshinakamoto2020, yep, I still remember the 2017 'X-Mas Special BTC 25% off'. I guess XRP hodlers are going to find out the hard way, what blood in the streets really means.
CryptoBullet
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@satoshinakamoto2020, technically 20k btc was top. Alts will have their time. But it could take long time. and some might not live long life:)
I like your analysis and fully agree with your wisdom here, but I think you are off with the characterization that ripple execs are dumping on the market (well except for one founder/ex-exec who isn't interested in the success of the ecosystem) They might not make exactly the right choices every time, but they're very much attempting to grow the ecosystem and taking significant efforts to *not* disrupt the market at the same time - with the long term in mind. The execs want XRPL to succeed, and they want to make money off of that, just like every other HODLer out there. For the health of the network, Ripple needs to reduce its XRP holdings to well below 50% I'd say, and they have been working towards that by selling and funding developers, related startups. They could burn them, certainly an option but I'm not sure its better or more fair than openly selling on the market at a fairly predictable rate that is telegraphed in advance. The price could well drop to .15 and even below, and I think you could definitely argue the speculators are still way ahead of the utility (easily could argue the same for BTC) which should always be a concern for HODLers. But the goal has to be to build utility, and that is a better characterization of what the execs are trying to do rather than trying to get rich off of dumb money.
Edgy_
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@MatthewFettig, First of all, thx so much for taking the time to write this up. A very thought-out comment, but I disagree with your general sense. I think the Ripple execs know exactly that they don't have anything yet to offer to the banking system, or that the banking system is eventually going to switch over. Even if they would, what value do XRP tokens specifically hold in this case? => Nothing but a pipe dream of dumb money.
The dumb money is currently financing the whole Ripple endeavour, (and I love the problem that they're trying to solve re. utility, I'm all for crypto projects to challange the current system), but the company is obviously not honest in telling those HODLers the truth: Thank you so much for financing our work, btw the XRP tokens are not gonna be worth s***, but at least you guys participated in a potential revolution of the financial system. Thx again, bye!
shekenahglory
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@Edgy_, I guess you misunderstand XRPs utility, thinking it’s is only for the banking system, if they don’t want it the project fails. XRPs utility is exactly the same as BTC, albeit with some different design decisions. It’s a payment system with no single counterparty risk - albeit in infancy. So is BTC. The trade offs produce drawbacks (hopefully short term) but POW has fundamental drawbacks that XRP does not have. Clearly in the short term, the market favors BTCs characteristics, but I’m suspicious that long term POW doesn’t provide sufficient security or immutability without the mining subsidy (on fees alone), and suspicious that BTC community will be willing to make trade offs if that’s the case. Store of value is more like a byproduct, ultimately none of these work without utility, and there is reason to believe XRP can continue to increase in utility, hopefully beyond BTC (or hopefully BTC utility can grow as well)
“The way to make money is to buy when blood is running in the streets.”