Today's post is about a crypto asset which is very dear to me. Why you ask. Because this was my first foray into the cryptocurrency market. Ripple's crypto asset XRP has been as much in the doldrums as any other alt-coin. This has been despite the constant barrage of good news which the market is weirdly ignoring. If it were for any other crypto asset, we would have seen a humongous rise in the price.
Is there more to it than meets the eye. Why is smart money not moving into XRP since valuations in my opinion are extremely cheap. There is seemingly a possible overhang of the Ripple-R3 lawsuit. Smart money probably is waiting and watching to see in whose favor will the decision be upheld. To refresh, R3 were entitled to 5 billion XRP at a next to nothing price. If R3 wins this lawsuit, then there is a possible dumping of R3 on the market. That is enough to drive the price down to sub 20 cents.
In traditional technical analysis, there is a saying that 'Price is King'. Price is demonstrative of current sentiment and possibly fear of the lawsuit decision. However a different school of thought also is that this 5 billion dump by R 3 (if they win the case) is priced into the current value.
After all said and done, I am extremely bullish on XRP because this is a disruptive crypto asset for the banking industry. I am surprised at how short sighted the general public is and they are not able to see XRP's immense potential in driving the Internet of Value'. My price prediction for XRP would be double digits for latter half of the year. Remember that the move will be very 'SWIFT' (No pun intended.. LOL) and will take everyone by surprise, similar to what happened in December last year.
For now, it’s a wait and watch for the next move by XRP.
xrp is a meaningless token. it might pump but it has no use case. what do you think the use case for a normal, non-bank person to hold xrp tokens? what do you think they will be for?
Ripple all the way..
Ripple is one of my favourite
I agree and I'm hodling. The news for XRP is just going to keep getting better and better. All those using xCurrent and xVia, rather than xRapid, should naturally migrate to xRapid, because it offers an additional 15% saving over the other two. I gather that Ripple is now in the process of launching ICOs on the XRP blockchain. It's recent donation to public schools is also an attempt to create some market separation and other steps like that should help this. I would prefer to see it listed on an exchange that provides XRP with a fiat gateway and more liquidity and so would Ripple, because then the price will really start to move-up. We'll have to wait for this to happen, but it's only a matter of time.
You can now buy XRP on Uphold.com with fiat. I just opened an account this week.
Thanks for Information, but I think the bigger exchanges with more liquidity will be the ultimate goal for Ripple. 👍
im hold it for 2 year. indeed. a lot of bankers aka whales for this.
I, like you, started my journey into the crypto currency world with XRP.