A few moments before I started writing this article, I visited coinmarketcap.com to check the lastest price of all the cryptocurrencies. When I went on to check the top gainers and losers, I saw ripple at one of the top spots. It was in the 2nd spot of biggest gainers with a 58% 24h gain.
This insane price movement is most likely motivated by the launch of xRapid. xRapid is a transfer protocol being developed by Ripple Labs, the team behind the cryptocurrency Ripple. If this new system is widely used, then it will be good for ripple holders and the price could go up much higher than it is now.
But the product hasn’t even been launched yet. Complex software like xRapid require a lot of time to develop. After the development is complete, they need to be tested rigorously to find bugs and other vulnerabilities. Then it takes some more time to patch these bugs. [This is the reason Ethereum’s casper update is taking so long.]
Even if Ripple Labs release xRapid tomorrow, it will take some time (maybe a few months) to patch things up and even more time to achieve mass adoption. Also, since this is a bear market, the price could fall down dramatically. It will be a very risky investment to buy Ripple [XRP] now.
The team behind Ripple’s development, Ripple Labs own a huge amount of Ripple tokens. Their share of tokens is estimated to be over 50% of the total supply. If the developers decide to dump some of their holdings, the price will take a hit.
If Ripple Labs got hacked and the hacker gains access to some of their share of Ripple tokens, he will most likely sell them and the price of Ripple tokens will take a huge hit. This is why Ripple is considered by many in the crypto community as a centralized cryptocurrency because it has a single point of failure.
The above stated reasons are why I think it is not a good idea to buy Ripple now. Everything written in the post are my personal opinion and not investment advice.
Crossposted from Trybe. Image source: 1.
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but sir many expert says ripple is best investment for long term because it's
management so what's your view on
other expert view?
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Ripple has a lot of money. So, they could definitely hire "experts" to shill their project [I am not saying that they do but the possibility is high]. Ripple will inflate at least 100% till the team share of tokens are released. Does 100% inflation sound like a good investment to you?
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sir your view is right but I research and I saw many expert view all says ripple is better investment than bitcoin because ripple use in banking sector and its transaction cost is very low and very fast on many countries approved use ripple but Bitcoin many countries banned like China,India etc.....
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lol experts....
Steem has no tx free and can support 10K tps....
So Steem is better investment than bitcoin as well. However you do know-Bitcoin scaling plan is in theory faster than Ripple as well? And has network effect? These exports are mostly shills. Crypto was made to change/remove banks not help them...
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@sames You should be careful what network you're referring to. They all vary in terms of security, robustness and governance. To say Steem is better than Bitcoin is too easy. Steem is v. different. Bitcoin is a network for transacting that is incredibly decentralised and beyond anyone's influence. This is why it's the biggest.
Steem may be quick, but Steemit inc is still holding much of the reins. With a complex social media blockchain like Steem, this is necessary, because it's not just about money, but it's providing a service.
But it means that Bitcoin has a bigger chance of replacing a bank than Steem, because Steemit , inc still has a lot of influence on the token and its value.
Same goes for Ripple. It would need to step far back from XRP. Right now it's too involved.
They argue that Bitcoin is controlled by miners. But at least with miners they are incentivised to secure the network... for now. It's very different to having one company incentivised to secure a network.
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+1
I was just making the steem comparison bc he said XRP was better than btc bc it was "faster"
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Yeah, come on ppl lets not forget why crypto was invented. xrp might be a good investment but ppl don't use xrp, they use steem. Steem is so under rated smh.
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creo que si sube el bitcoin y esta moneda toma buen valor se podria ganar buen dinero suerte
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Nice. I think at this point buying anything while it’s in the green is a burn wish. Unless you want to see a dip very soon after.
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I believe there will be one more dip before the Bullrun!!!
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and here it comes....
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lol same thing i said
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Of course, they will not launch xRapid untested as you indicate in the article. They will be confident once they launch it and there will only be minor bugs to correct after this. Ethereums problems are completely different. There are about 19 institutions testing xRapid, including names such as Banco Santander, Mercury FX, MoneyGram, Western Union, Viamericas, and Cambridge Global Payments. https://ambcrypto.com/xrapid-coming-next-month-what-do-pilot-results-say-for-future-xrp-hodlers/
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Finally someone with some facts to consider in viewing the price action of XRP. Thank You!
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you don't need to use xrp to use xrapid though....
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All I hear around the Internet is "buy Ripple" or similar. Thanks for bringing up some interesting details about the crypto. I was not aware that it has the problem of being a single point of failure crypto.
That is a major concern. Then the fact that the company is holding over 50%, or is believed to be, is another major concern. As you stated, if they so chose, they could decimate the value of Ripple in a few seconds.
That is a recipe for disaster that I am not interested in being in the kitchen for. I will just tuck that $100 I planned to put into Ripple back into my wallet and look for another investment. Maybe Dentacoin? Lol.
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Oral is a multi billion $ industry :P
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Doesn't mean they will do what is right for the people holding their coin. :P
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What is good or great about Ripple is that it has the advertisement team that makes sure that is in the radar of news outlets for it to grow popularity. It is a good time to buy because it will touch again the high it made just recently for sure because of the good news it brought.
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What a wonderful article, but my own opinion is that RIPPLE price maybe be bad now, definitely it will skyrocket
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Are you aware that the team has over 50% of the XRP in their hands? What do you think will happen when those coins are released?
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I completely agree with you
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@littleboy great piece but I do agree with @jmcakademy their prices will go up eventually
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Everything goes up with Bitcoin in crypto
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@littleboy Ripple as a blockchain company is very strongly positioned and its products have already been well tested. XRP hodlers have been waiting to see a real use-case for the token and now this is on the horizon.
The bear market is in a fragile state and catalysts are expected to break it anytime soon. xRapid is one of them.
I don't think it's wise to spread FUD at this time regarding Ripple, although your post seems to have done well.
I think it's time to study the market long-term and invest long-term.
This is normally the best strategy.
You can gamble on volatility and expect XRP to deflate somewhat, yes, but I would buy back in again when you can.
XRP remains a strong buy long-term, along with Stellar they are both good networks.
'Single point of failure' : i'm not sure this is accurate as XRP is moving more decentralised in fact, which is the right way to go, and they know this.
If you search you will find articles regarding Ripple's intentions to step back from XRP.
My crypto-blog adespress.blog re: Ripple
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yes, it is good idea to buy ripple now.
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Hope Ripple will rise soon 😢
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Well everybody does, inclooding me.
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👎
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I think, let's wait for some more decrease in price. Ideal buying price is $0.30. I'm hoping that I can catch it before the end of this month!
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All the good coins are at its lowest price to buy , however ripple being 3rd in market cap after bitcoin and ETH , is at its lowest price , it will anytime break $500 , and this can happen only in 1 month time
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If ripple goes to 500, it will have a marketcap of over 40 trillion dollars. Are you trolling or your brain isn't working?
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Depending on what stats you use...
That about 18% of the world value...
The stats I used:
As for money owed by every single person and country in the world, the grand total is $215 trillion, with some 33% of it borrowed in the last decade.
Using the high end estimate that 4% of the world money supply(including debts/derivatives ...
Source: https://www.marketwatch.com/story/this-is-how-much-money-exists-in-the-entire-world-in-one-chart-2015-12-18
There comes a time-How much of XRP value is based on the idea of "cheap"?
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What would be the rationale for the team to dump their holdings and crush the price? Whilst it does represent significant supply, it's not in their best interests to destroy the price.
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Grandes ideas de compra
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Nice one @littleboy. The whole concept of Ripple is against crypto rule ie decentralized approch.According to me its better to invest in a crypto with good usecase and good community support. Howmuchever I think I will reach only 2 coins in this way Steem and Electroneum. I am ready to take a risk in these coins. Nothing else. Thanks again for this post, as article like these gives a new angle to our thought process.
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But Electroneum isn't decentralized...
Great idea though...
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Agree brother! Great job for advise!
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It was a nice article
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It was a nice article
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Any newcomers who may have bought in at the top yesterday - please do not panic. Most of us around here have already experienced those white-knuckle rides so we feel for you. Well I do anyway. Just walk away for a few days and enjoy life then check back in. Or even better, pick up some discount XRP before the next run from someone who panic sells.
Once again, XRP will shine 2018-2020.
Enjoy the ride everyone.
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For me, I somewhat disagree although I can see the points you are making.
There is a risk with XRP for some of the reasons you have stated - I'm not sure where you have gained the information regarding Ripple dumping their XRP on the market. Since they are the holder of some of that asset, and I'm sure private holders exist within Ripple Labs; it would not make very much sense for a business to take an action to devalue the asset. I seem more likely that they are looking to sell that to the financial institutions they are in partnership with. Although, obviously, the risk of a crash always exists with crypto.
Overall, for me, the crypto market as a whole will continue to rise in value. Essentially, a good diversification of holdings across the market, including XRP, is only going to make you money in the long-run.
I hold several currencies and I re-balance where necessary. I don't believe hype about catastrophic market crashes, nor do I believe miracle price increases. Somewhere in the middle, with a diverse portfolio is the key to making money in cryptocurrency.
Prices rise and fall. The market as a whole - well, that is going up - so buy currency whilst it is low and reap the benefits in 5 years.
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What is good or great about Ripple is that it has the advertisement team that makes sure that is in the radar of news outlets for it to grow popularity. It is a good time to buy because it will touch again the high it made just recently for sure because of the good news it brought.
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What is good or great about Ripple is that it has the advertisement team that makes sure that is in the radar of news outlets for it to grow popularity. It is a good time to buy because it will touch again the high it made just recently for sure because of the good news it brought.
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I guess its good long term investment for ripple?? whenever you invest its a good point.
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good time for profit taking not buying on XRP maybe consolidate back into btc
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I guess its good long term investment for ripple?? whenever you invest its a good point.
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wow....very nice. good job work
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The rise or fall of RIPPLE is dependent on lots of variables including the crypto market. So, all i can say, is the future for RIPPLE will be great and i advise investors to only and always invest what they can afford to lose. Great Post!
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Your article is based on the premise that people are jumping the gun before assesing the product however if you look at the fundamentals ripple could be the only one that the banking sector can adopt.This has the potential to make Ripples value even exceed Bitcoin with Market Cap value
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Ripple is not required for banks to use xRapid. I assume you are aware of that?
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Sure-once Ripple makes banks use xrapid with xrp. Xrapid does not need Xrp. Bitcoin getting dethroned? Nice joke lol
fundamentals-Xrp sucks. And helping banks-ugh. I call crypto a failed experiment if XRP ever becomes first. But for profit I guess people are happy?
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@littleboy is ripple will go down side onwards ?
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Ok , no xrp, but what about steem? Lol
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It's too high now. Buy low sell high.
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Great post, I totally agree with it! Thanks for the article..
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@littleboy crypto market is just very volatile. And news (FOMO effect) rise any coin. The most important thing according to me is Go with news and never love a coin. Just as a trader, sell and booked the investment money and play with profit. Ripple give me 40% profit and now I am waiting for 5$(may be possible) with my profit.
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Buy?lol
it's time to dump!
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It hurts so much seeing that in in the Top 10.
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Champipple is always a good investment...
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nahh this was only a hype so it means with no reason to go high it will eventually no reason to go down.
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Nice article! Sometimes I like to buy a few cryptocoins with low price (Bytecoin, Dogecoin), maybe in the future those coins will have more value.
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Nice post
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I believe it is a great time to buy. As ripple will become flip bitcoin because of push from the underground. Then even more people will start investing in ripple creating bitcoin to drop some more. Next Wall Street buys all the bitcoin so they can have more control over market. Making bitcoin number one coin again.
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Okay, now we have a general bearish panorama with cryptos. Today is not a good idea to sell, but, Who knows if the trend suddenly changes?... that is the risk that many traders usually takes.
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