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Originally Posted by zman
I'm no expert so please take my comments with a grain of salt. I think XRP has run its course. What XRP has going for it is its uniquely centralized nature allows financial institutions and banks to leverage its tokens for money transfer. But its gained so much now that its market cap has simply become too big. The net worth of the CEO of ripple went from <$1 billion in December to >$40 billion in less than a month. If it doubles or triples from here he'll surpass Bezos and become the richest person in the world. I doubt market forces will allow that to happen. One other thing most ppl don't understand about ripple is unlike most cryptos, the real back end tokens that are used to transfer money by banks are not XRP. The XRP that trades on exchanges is really just a front end proxy token that is of little value. I liquidated most of my holdings around 3.20 and only hold a small portion of the gains in ripple but I feel more comfortable just trading it for a quick 5-10% gain when it falls in the 2.30-2.40 range. That being said, if BTC goes on a tear and say doubles in the next few months then XRP's runway could be extended.
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Thanks. You sold it right at the peak. My break even point is at 2.70 so I am more or less neutral now. I will sell it if it goes close to 3.
I have that heard Ripple is backed by IBM and that’s why it has some credibility. Most of the crypto trading is done in Japan/S Korea. Later this month, they will decide if they will allow crypto ATM. If that happens, and if all these coins gets a physical ATM (just like Europe), then I believe price will go up as well.
Have you heard of Stellar?