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Yeah, it's all relative but now it looks like supply vs demand equation playing well for BTC than XRP. Institutions prefer to buy BTC than XRP at this point for whatever reason.
Comparing BTC to XRP similar to Gold vs Copper/Silver. Gold has very limited utility than copper/silver but still holds its value.
XRP will shine only when there is massive demand from it's utility if and when it happens. Otherwise like all other cryptos - it will follow BTC trading pattern.
All that chatter about global fintech change in november/december proved to be false
It is not mismanaged in true sense, a nice little company. Question is can it become $100m revenue per year in next 5 years ? Based on past 5 years performance,products,services it won't. Cannabis sector has been growing for many years now and there are few companies doubling their revenue every year and stock price too. As an investor, do you want to invest in fast growing company or low market cap, stagnant company ? market cap is not really a good indicator for stock price movement. Its growth rate that matters. AMZN is way more expensive compared to Walmart but investors don't care. IMHO
Starting point would be including marijuana banking bill in Covid-19 stimulus bill, which is already passed in the house.
Democrats openly said if they win, marijuana bills will be brought on senate floor. Whether they bring it or whether it will pass, is debatable. However, republicans are very clear at least until now that no marijuana bills will be on floor.
Any federal change is big factor for cannabis stocks.Do you agree ?
All those speculations are random you tube channels not in Wall Street Journal or other major financial outlets. If something big about to happen WSJ would report it.
Whether it is small or big if Santander, MoneyGram etc used XRP, it would have given big credibility to xrp and Ripple. They know how much Ripple and its co founders own xrp. They just didn't want to take risk. Big banks will never use xrp in its current structure. I
Looks like he is billionaire ...
https://coil.com/p/XRP_Productions/CONFIRMED-XRP-Will-Be-Backed-by-GOLD-Which-Will-Be-Backed-by-XRP/cHwiqsH1s
It's stagnant because no one is using it in big way now. I think it will remain stagnant for foreseeable future.
https://coingeek.com/ripple-switches-business-blueprint/
https://www.crypto-news-flash.com/ex-ripple-founder-mccaleb-increases-xrp-sales-13-fold-compared-to-2019/
Are they not buying from secondary market recently ?
Welcome to the forum. I really wish hadn't watched all those youtube videos couple of years back.
Well said. It's difficult to get rid off those would have, could have kinds of thoughts. It's human nature I guess. Agree, it's impossible to buy winners all the time.
I like your optimistic approach. Not sure how you ignore few insiders owning billions of xrp and expecting them not sell it when it moves. Chris Larsen owns 5B-7B xrp and doesn't have any restrictions like Jed McCaleb who also owns same amount of xrp. Few other insiders own millions.
Remember the lawsuit alleging that CEO sold 67M xrp while publicly saying it had great future ?
SRNA vs GRWG
Both are in ancillary business
Both companies started approximately same year
After 5 years
SRNA $6 to 3 cents
GRWG $2 to $11
Link is on the way to smash $12 very soon.
I really thought XRP had good shot at becoming top crypto but disappointed at it's performance, especially when Ripple made so much progress in last couple of years. Check out Ripple's top customers - Santander, Money Gram etc. None of them using XRP. Even Money Gram deal was only pilot program for ODL.
I think Ripple owning 50% of XRP, and handful of people owning multi billion XRPs are big bottlenecks. Why big banks will consider it when there is big risk of price manipulation ? They will probably consider it when all the XRPs are in circulation and market determines it's true value. That might take years...
Crypto is here to stay. Who cares which crypto let's make some $$$.
I agree. Link is holding very well so far. Volume also increasing.
True.
Ripple is exploring DeFi. ETH already has.
ETH - circulation supply ~100M
XRP - circulation supply ~30B
Great.. didn't buy link that low but still doubled for me.
Keeping personal bias aside, isn't Checks and balances good thing for the country ?
I was talking about best case scenario only for marijuana legalization, not other political issues. As long as republicans control senate, I don't think any marijuana bill comes to floor. If Biden wins, same fate.
Negotiating with Trump is easy. I'm sure democrats are smart enough to do that,if they really want it to happen.
Probably you should read more about controlled substance act. Who can make amendments and who can't.
DEA can change the status. Recently, they changed the status for GWPH drug.
https://www.dea.gov/controlled-substances-act
Best scenario from the elections would be democrats win both senate and house, Trump becomes president.
Trump hasn't publicly mentioned his opinion on Federal Marijuana legalization although, he said in 90's that all drugs should be legalized. However, Biden is staunch opponent of Marijuana. He mellowed down little bit for the elections but he will use all his powers to stop legalization if wins the election.
I was just about posting that...
Eric Holder, who was attorney general under Obama, now works for a marijuana company,saying that Marijuana should be legalized. Oh really ? He was against changing the status of marijuana to even to schedule II when he could have done it very easily.
Pretty interesting. Do you know how Nexo makes money ? They seem to be profitable.
That article is quite misleading. Court didn't dismiss but Ripple filed a motion to dismiss the case.
https://dailyhodl.com/2020/07/28/santanders-ripple-powered-payments-platform-hits-half-a-billion-dollars-in-volume/
After Santander posted its One Pay FX update via Twitter, several crypto enthusiasts questioned whether the bank also planned to use Ripple’s XRP-powered cross-border payment product, On-Demand Liquidity. They didn’t get a response.
I would be surprised if it goes to 50 cents and holds there for a while. I wish you were right.
Not sure who originally designed but David Schwartz (CTO) once said that he can not imagine XRP going above $20. Will try to find that tweet/interview and post it here.
Ripple founders combined own about 12B xrp. Can you visualize they will be worth $1.2 trillion if XRP reaches $100. I can't get my head around that.
There are some genuine concerns in that article.
If you follow daily volume you get an idea how many of their 300+ customers actually using XRP.
Ripple may one day become multi billion dollar company and it may be acquired by some other company. Insiders will become very rich. Since RippleNet works on any platform,buyer might just throw XRP into garbage bin. Game over.
If MoneyGram uses XRP for 50% of its transactions, XRP would be .25 cents atleast. Ripple paid $50M to MoneyGram for nothing. MoneyGram deal was supposed to be deal breaker for XRP. If they don't use XRP(they are using it tiny fraction of total transactions) even after receiving money from Ripple, why will some other banks use XRP ?
https://ftalphaville.ft.com/2020/02/26/1582730287000/The-art-of-redefining-success--MoneyGram-and-Ripple-edition/
Interesting indeed. Thanks for posting. I never thought I would be billionaire one day.
Jed McCaleb has 5B XRP left to sell. Even if he keeps 100 Million xrp he will be world's first trillionaire.
I offloaded some in recent uptrend. Took some loss but relaxed now. Looking at either BCH or Link.
I'am Convinced with my logic.
No idea about that. Universal logic tells me if there is more demand than supply then price should go up. I'm not expecting in dollars but few pennies at least. As long as there is enough supply, price can not go up, never will. Ripple has more than 50B xrp at their disposal.
My avg is .29 ish. I'm thinking even if this goes above .20 will take a loss and sell most, buy some other alt coin. Number wise, this will never go above .50
Their customers are not using XRP or use it for tiny fraction of transactions. Even Money Gram said they used XRP only for 10% of transactions between Mexico and USA.
Only hope is another crypto bubble. This POS can not move by itself.
There is another Whale which can eat small Whales for lunch.
https://www.crypto-news-flash.com/ripple-mccaleb-receives-another-payment-of-79-7-million-xrp/
From that link - SWIFT payment message volumes are usually around 11.5 million per day, giving an average payment size of around $45,000
Article probably got average payment size wrong to make it 5 trillion. So let's take 450000 average size. In real world 11.5 million transactions don't happen at exact same time. For $450000 we need 2,250,000 xrp at .20
Bank A -> XRP - XRP -> Bank B completes in 4 seconds. 2,250,000 xrp back into circulation after 4 seconds. So supply will always be there for 11.5 million transactions. Price will go up only when demand exceeds supply at a given point of time. I don't see that happening. Of course, if 11.5 million transactions with avg size $450000 happen at exactly same time then XRP price needs to be near $100, assuming 50B xrp in circulation
For majority of people price matters not the use cases. In spite of so many use cases, XRP doesn't go up by a penny. What does it tell you. 100B is too much what it does currently or future. And 4 people own 10B XRP ready to sell.
I think they will do restatement of last year reports. It could be worse. Secondly, Covid definitely impacted their business this year.
I'm expecting disastrous report.