CRYPTOFAIL: RIP Ripple - Banks Don't Need You / Other Options
XRPUSD
I know this will not agree with the HODL'ers. I was big on Ripple too as a spec trade but for HODL, use some logic. This is the most important point for anyone who wants to invest in a $100B dollar company...THAT MAKES NO MONEY. Every article and interview that I've come across, does not answer the big Q, "HOW WILL RIPPLE MAKE MONEY?" The 'CEO' talks around this but never addresses, how Ripple can have a $100B+ valuation because of some future hope of financial institutions using XRP? The future means more competition, not less.
Use some logic on this, XRP is not any better than any other similar competitor, in fact Hashgraph/Tangle is far better than any blockchain. In the blockchain space, Cardano 'ADA' or 'NEM' are better. The financial world is waking up to the fact there are many great competitors in this race and they can also develop their own solutions. The ultimate solution is that countries will develop their own crypto version of their currencies. Then no need for Ripple or anyone else.
Recently, Ripple survived on a massive rally up from 1.60 to just over 2.20 but didn't hold it and tried again one more time on lower volume to around 2.16. This was probably a manipulated rally to try and get interest back but the real volume didn't show up. Even the Moneygram trialing XRP play didn't work.
I repeat, Ripple/XRP had no real value aside from a trade. No one in any article has answered HOW RIPPLE WILL MAKE MONEY. You that real world stuff that pays bills and keeps your business afloat. The Ripple insiders became insane billionaires off the herd...period. They were an amazing speculative trade, nothing more.
This was finally caught by those in the know: Read the following and take it in. If you understand and when the big players figure it out, it's RIP Ripple.
time.com/money/50985...oing-down-in-flames/
Why the Hot Cryptocurrency Ripple is Going Down in Flames
"But not all the transactions that banks make on the Ripple platform have to use the XRP tokens, as was pointed out by The New York Times. Instead, banks could use dollars, euros, or another local currency on the Ripple platform, circumventing the alt-coin.
This cuts into what some buyers of XRP hope: that it can become a “bridge currency” used by financial institutions to make payments across borders.
In other words, as investors come to realize that Ripple the company does not need XRP the token to soar in price to be successful, investors may further cool to XRP."
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XRP is a speculative TRADER's dream. XRP is purely for trading at this point.
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WARNING!
Think about this, there are a few people that have billions worth of XRP that they can't dump on the market except during strong rallies OR sell to institutional investors. The insiders have to keep the hype going or they can't cash out. Everyone is figuring out now that XRP isn't really needed and there are better alternatives. Those deep holders of XRP will need to dump it and take what they can get. I'm thinking that will start happening pretty soon?
Think about this, there are a few people that have billions worth of XRP that they can't dump on the market except during strong rallies OR sell to institutional investors. The insiders have to keep the hype going or they can't cash out. Everyone is figuring out now that XRP isn't really needed and there are better alternatives. Those deep holders of XRP will need to dump it and take what they can get. I'm thinking that will start happening pretty soon?
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This guy explain it perfectly. Why I'm not touching Ripple with a 10 foot pole: youtu.be/yM8eFTfSuIc
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XRP is a trader's game and those that hold billions are trying to lure/sucker you into buying, so they can dump. Period. Put yourself in their shoes, if Ripple goes back under a penny, they won't be billionaires anymore. They need to sucker the herd in with manipulated moves up, so they can dump their supply.
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I can see nerves were touched by my analysis with common sense. IBM is using Steller Lumen:
IBM and Stellar Are Launching Blockchain Banking Across Multiple Countries
fortune.com/2017/10/...-blockchain-stellar/
Wake up peeps, this is the other side of what's going on.
IBM and Stellar Are Launching Blockchain Banking Across Multiple Countries
fortune.com/2017/10/...-blockchain-stellar/
Wake up peeps, this is the other side of what's going on.
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BTC just made a big move up, but XRP didn't If BTC gains and XRP doesn't...keep close watch.
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See this is just the beginning...RIP Ripple XRP.
Pax Crypto: Russia Proposes First Multinational Cryptocurrency, Expert Blog
cointelegraph.com/ne...currency-expert-blog
Pax Crypto: Russia Proposes First Multinational Cryptocurrency, Expert Blog
cointelegraph.com/ne...currency-expert-blog
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Will repeat this again, since people think I'm providing misinormation (not sure why they'd even come to MY post to let me know but not like I don't know the HODL side (I was once there).
Repeat of my comment response below:
"...and no one can still explain how Ripple will make money or enough money to justify it's market cap with 100B units (close to $200B dollars at current prices)?? No misinformation being spread, just logic. I was a Ripple fan, until I looked ahead a little. It won't be needed, trials are far different than getting the market to actually use it enough to bring value to XRP. Right now the only value is manipulated supply/demand and also being a trader's dream. Don't be fooled, there's people with billions of XRP trying to unload on the market before it tanks."
Repeat of my comment response below:
"...and no one can still explain how Ripple will make money or enough money to justify it's market cap with 100B units (close to $200B dollars at current prices)?? No misinformation being spread, just logic. I was a Ripple fan, until I looked ahead a little. It won't be needed, trials are far different than getting the market to actually use it enough to bring value to XRP. Right now the only value is manipulated supply/demand and also being a trader's dream. Don't be fooled, there's people with billions of XRP trying to unload on the market before it tanks."
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So, what are Ripple's actual revenues, projected revenues/profit and how does it relate to the value of XRP, aside from speculation? Just like with Bitcoin, there are a few individuals that will be the richest in the world, by promoting it to the moon and selling to the herd. That's the end goal of Bitcoin promotion (for those individuals), although at least Bitcoin has more support as a 'store of value' at least until...(something that can kill Bitcoin)...shows up.
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This massive drop is proving my point right. THERE IS NO WAY BANKS WILL DEAL WITH A CRYPTO THAT FLUCTUATES LIKE THIS. They will want stability, so a pegged crypto will be the only way (which will have limited fluctuation over long periods, not 10-20% a day).
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I feel a little justified as this article basically backs my view:
World’s Fourth Largest Bank MUFG To Launch Own Cryptocurrency In 2018
cointelegraph.com/ne...yptocurrency-in-2018
"MUFG stated the company will process all the transactions from its cryptocurrency’s network, claiming that such an approach will help improve the stability of the coin.
The bank also plans to peg one MUFG coin to one Japanese yen in order to maintain people’s confidence in the new cryptocurrency."
World’s Fourth Largest Bank MUFG To Launch Own Cryptocurrency In 2018
cointelegraph.com/ne...yptocurrency-in-2018
"MUFG stated the company will process all the transactions from its cryptocurrency’s network, claiming that such an approach will help improve the stability of the coin.
The bank also plans to peg one MUFG coin to one Japanese yen in order to maintain people’s confidence in the new cryptocurrency."