XRP is centralized and the most manipulated token of all cryptos. Here's why.
Ripple created 100 billion XRP's. That's a lot! But network creators usually only keep a fraction of the tokens for themselves, and selling the rest to anyone that wishes to buy some. But Ripple still owns about 60% or 60 billion of the originally issued tokens. So, Ripple can cash out and crash the market.
Yes, Ripple put the majority of their XRPs into escrow, but they can still sell 1 billion XRP's every month for the next 4.5 years. So, 1 billion XRP's will be sold every month (which is why they spike up XRP's price quickly, so they can dump their 1 billion XRP's at a higher price every month. This is why XRP's price typically spikes up one time every month and the spike up is always short-lived).
The founders of Ripple (Jed McCaleb, Chris Larsen and Arthur Britto), gave themselves 20 billion XRPs early on.
McCaleb left the team to start his own version of Ripple called Stellar, and decided to sell some of his XRP stash. McCaleb is still cashing out $20,000 per week. Come 2019, he will be allowed to cash out 750 MILLION XRP, which will crash down XRP's price at that time. When he cashed out 9 billion of his first batch, XRP crashed down 40% (you can google to verify this news). News link here:
https://www.coindesk.com/price-ripple-xrp-plummets-co-founde-9-billion-selloff/
In the recent spike up over the last few days, smart money takes their profits before XRP crashes back down, as each time XRP spikes up, it's always been short-lived for the reason given above, as insider whales spike up XRP's price to dump their 1 billion XRP's in the market every month. That's 1 BILLION xrp's sold by insiders in the market every month, putting downward pressure on its price, continually.
Don't care either way, just giving you heads up and the truth about XRP. No other crypto has insiders selling 1 BILLION of their tokens EVERY month, like XRP. So, they pump up the price of XRP once a month before they dump 1 BILLION of their XRP's at a higher price, which crashes back down XRP's price on their massive selling activity.
People's memories are short and/or they don't know how XRP traded. Simply don't want people buying XRP at .29 cents and then they watch it crash down quickly or slowly and they buy more at .26 cents, and more at .23 cents, and more at .20 cents, and more at .18 cents, as XRP goes back to .15 cents again, and they are left holding their XRP's at a loss and many then sell at a loss, giving up. Such is the risk in accumulating XRP's on a spike-up.
endtimenews
ohhh shit
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Nice post. Really appreciate you bring this to our attention. Buy low, sell high, it seems so simple but most investors still don't seem to get it :-) I was wondering if anyone of you uses: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. Check for example: https://www.coincheckup.com/coins/Ripple#analysis For a complete Ripple Indepth analysis