Added another 1000 XRP today as well. 37 cents or less was my re-entry point. Although, whenever it goes low, it can go always go even lower. (That is why I got only 1k more.)
I think 10-20 cents is not likely and sub-penny? Come on, you are confusing this with a empty shell of a penny stock company with no prospects. This is a coin with a use case. If it was fairly priced before the monthly addition of liquidity, then at worst it would be fair to price it after the influx from escrow at ... what? 97.7% of the previous fair price. Correct my math if wrong, but that would be the dilutive effect if you add a billion to an existing supply of 42.5 billion.
Since we are down 11.5% from July 1, there are clearly other factors at work besides dilution (what some people refer to as dumping, or F-ing BS when they are feeling particularly FUDdy-duddy). Liquidity, dilution, dumping, effing sh*z, whatever you call it cannot in and of itself drop this so low. Sentiment, whale-watching, buying the rumor and selling the news, etc., all those things that traders do are going to have much more effect on the price than the eventual 134.74%* inflation of the number of coins over the course of the next 50+ months.
And at the rate they are going, it will be closer to 100 months than 50. Keep in mind, the billion a month has not actually been a billion a month. Over Q1, it was an average of 233 million/month. The other seventy-six and two thirds percent went back into escrow for another 55 months. Anyone else looking forward to the next quarterly report ... due next week?
*57.4b over the 42.6b quoted in a post from David Schwartz from 2 days ago.
My new goal in life is to be interviewed by Chantel Elloway. When that happens, my comments will be story, observation, opinion, maybe even enthusiasm. What I say will never be instructions on how you should risk your money. Same goes for these posts.
AI
