RE: Ripple Skyrockets | The Rippening Is Here
Now the explosion that XRP (ripple) has had worries me.
There are alot of simple facts alot of people aren't paying attention when it comes to this coin,which you mentioned in the video.
1- The difference between the company & the coin.
Most people assume that there are one in the same....they aren't.
As you stated it's a privately held company.
Which we can't invest in.
2- This rise is being driven (in my opinion) by 2 factors
A- Lasts week's announcement that 3 of Japan's big credit card companies have signed up to use the ripple technology... a quick steady rise since last week in price...which makes me wonder. are people confusing the Ripple coin as stake in the company (aka Stock shares)?
Which goes into my next factor..Price.
B-When John Crypto decides "Hey i want to get into this blockchain thingy with my 150 bucks & make 1000% returns and buy a lambo"
First thing he'll realize is when he signs up to Coinbase is...
Oh shit.
BTC is 14-15k a coin
BTC cash is 2k +
ETH is 700+
LTC is 250+
Well fuck he realizes, no lambo...i can't afford a full coin..what to do?
He puts on YouTube (i'm not bashing you so dont think its you,i think you're missing your true calling as a analyst.)
and sees...let's call him Vinny DonaCrypto.
Well his Youtube video says Ripple to 200 bucks,he's owned many companies...and he knows his stuff..blah blah blah.
Good Ol Johnny decides well fuck it Ripple is at 1.45 ,i can buy at least a 100....Vinny said its going to 200...maybe no lambo but it's a start and thinks he's a genius .
Especially today...He's HODLING to 200,maybe 300!!!
I know i dragged out this premise....but this something i feared would happen at some point...the Dumb Money has arrived.
Hence why people look at Ripples coin price and don't realize...
You aren't buying stake in the company.
And crypto currency is getting incredibly overpriced (especially alt coins)
When Ripple hits that point ...that it will drop
it will drop far....and you're right its unsustainable as it's going.
Kinda reminds me of BTC when it was marching towards 20K
( i remember all the BTC to 40K videos)
When Ripple drops...i see it back to $.85-1.10
If people who invested were smart ,they would be looking as to what they consider an exit point.
I already have my buy/sell order in with Binance.
Unless it gets listed on Coinbase in the next week...you'll see a quick shoot up....then a real drastic drop.
or who knows....maybe Vinny DonaCrypto is right?
200? 300?
Nah..
Always a pleasure watching your videos ,and have a very Happy New Year my friend.
PS. What's your take on the entire XVG/McAfee debacle?
I think it produced possibly the funniest Twitter responses iv'e ever seen.
Cheers!
This. But you forgot a very important detail. What is driving xrp's price to go up? The expectations that banks will use it to pay fees on the ripple net. But why would a bank want to own a "filthy cryptocurrency" which is controlled by ripple, instead of the US dollars? Look closely at all the agreements between FinCen companies and ripple. They agree to use ripple's TECHNOLOGY, not its currency. There is no promise that if ripple net is adopted, xrp will have any value at all. To me, there is no such thing as investing in ripple (xrp really) , because there is nothing the public can invest in. Not the technology, nor the company. The purpose of xrp in my view is to fund ripple the company with billions of dollars, as they own the majority of xrp supply on an escrow. The price increase is not only illogical, it is completely fueled by misinformation of the market and people liking all the good news about Ripple but don't know that xrp, which they are buying to get rich, is completely different.
Thank you for the detailed post. In summary, I agree with you - it is concerning how many people only look at price rather than market cap and somehow think Ripple is cheaper than other options just because it's absolute price. This happens frequently to noobies in the stock market who think that Amazon must be worth more than Apple because the stock price is higher. It will happen even more frequently here due to low experience among investors. If Ripple gets listed on Coinbase soon, then the pump will certainly go higher but otherwise it should pull back as people realize that not every single partnership should be priced with such a premium.
As for the XVG debacle, I think it's just stupidity all around. Who knows if it was or wasn't him claiming $15. I know that if it was him that did claim that, he didn't mean it (he's smart enough to know otherwise). Either way it doesn't matter - point is that it's all pump and dumps.
No ..Thank you for the video, too many RIPPLE TO 20 videos out there.
It's scary to think people are believing this.
I love the Apple- Amazon analogy its spot on.
I totally agree...the Dumb Money has arrived,and now you'll see a bunch make that drastic mistake.
I look forward to the more detailed Ripple video you spoke of...,i myself am amazed at the drastic fluctuation in the alt coin market as of late.
I do hope those who invested,pull profits.
I know i did to both XRP & ADA.(which is another who suddenly shot up 50% with no reason to)
cheers!
I got my own clue that Coinbase may be adding ripple soon. When I sent money from Coinbase to my bank (in the US, Citibank) this October, the money showed up the next day. But when I did the same this December, I noticed the money appeared in my bank account same day, almost immediately. So I am thinking, may be Coinbase is now using ripple for it's operations. If yes, then it makes it very likely that they will add it to their trading portfolio soon. Do you think I have a point? You can test it, send money from Coinbase to your bank. It's crazy fast.