For what it's worth, I've been a long time follower and HODLer of Ripple. I consider myself a seasoned practitioner of technical analysis, and have years and years of experience actively trading in securities. It's just my opinion of course, but I really think this is a good entry point for XRP. I don't think we are going to see any retracement of support held back on the 24th, in fact this may be the beginning of a turnaround for XRP...I know its been a rough couple of weeks.
Do your own DD of course, and I am by no means a qualified financial advisor...just a newbie to the crypto realm, trying to help others secure a foundation in this market.
Feel free to add your two cents and start a discussion on the topic, I always love hearing what people have to say about XRP. Q2 should be interesting...
Good luck out there everyone 👍
Ripple is just a centralised coin which is almost used by most banks all over the world for inter transactions due to which it's market cap has increased this much high.In my opinion,its price would not increase much high in future and so it would not fit to be called as a good investment.
I love the market valuation argument, let me explain why it is so incredibly wrong. Let's do a hypothetical scenario real quick...
First take the global supply of circulating currency, depending on your sources that figure is somewhere between the $1-$5 Trillion USD. Now take the most dominant financial sector in the world, for better or worse, that sector is non-renewable energy (fossil fuels, coal, petroleum, natural gas, etc.) That energy sector has a valuation of over $700 Trillion USD. SPOILER ALERT: It's not precious metals that back the world's economy (and therefore, centralized banking), it's energy.
You're incorrect in saying that Ripple's XRP token is 'almost used by most banks all over the world'...but for the XRP holder, yes that would be amazing someday.
Let's go back to energy, and the hypothetical scenario of major financial institutions adopting XRP as a mainstream asset class. As the global community is finally waking up to blockchain technology, and starting to realize that it's uses aren't solely restricted to finance...well let's just say that those major financial institution are already heavily vested.
People still think Bitcoin is "decentralized"...that is hilarious.
Anyhoo, so even if Ripple released the total supply of pre-mined XRP into the market (100 Billion), that still would only equate to ≈ 0.01428% of the total market valuation of the non-renewable energy sector. That's barely even a drop in the bucket. Hell that's not even a molecule of water in the bucket. If you think that price is limited because of market cap, you really need to start thinking on a larger scale. Ripple Labs, Inc. is never going to dump the total supply out into the market, that would make absolutely no sense whatsoever. A more likely scenario, is that all the XRP being stored up in escrow, can now (or eventually) be sold to the major financial institution in a "block trade" transaction, operating outside of the open exchanges as to limit volatility.
But guess what, that event (or those events...you know multiple institutions like Bank of America, Citigroup, Goldman Sachs, etc.) is going to be made public knowledge after the transaction, so what do you think that's going to do to the price of XRP after that news hits?
Oh yeah, and anyone still doubting that Coinbase is going to offer XRP eventually...I'm sorry, but you need to get your head examined.
I may be new to crypto, but I am not new to banking, finance, technology or common sense. Sorry to rain on the parade, but centralized banking and world govenments aren't going away, nor would I ever want them to. I know so many of you have a H.O. for anarchy, libertarianism, and decentralized infastructure, but I'm sorry...that's just now how things work.
So why not position yourself (early) in the most promising project of them all? I'm not here to bring forth collapse of the world's banking instiutions, I'm here to work with that momentum to capitaize on an opprtunity with the potential for astronomical gains. I just don't understand why everyone is so adversed to making money in this community, I really don't. I think it's because most people are only looking for a quick buck, and just can't recognize long-term value when it's mushroom stamping them accross the face.
--Disclosure: I'm long BTC, ETH & XRP
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