Hey steemers so most of you reading this have probably heard about Ripple or XRP. And if you have heard about Ripple you probably understand that it's very low priced with a gigantic market cap. Andddd the thought might have gone through your mind that Ripple is only 20 cents and you can buy many of them and make a fortune when it rises to Ethereum levels!!!
Let me be the reality check for this person...
Ripple is a very intriguing block chain technology because it is setup specifically for increasing efficiency in bank transactions. And while this use is fairly specific they have managed to obtain a huge market share partnering with banks globaly( Bank of America, Merryl Lynch, SCB Thailand etc). This is awesome and it's exactly what we are looking for in a crypto.
But here is the downside.
The reason Ripples price has remained relatively stagnant (in comparison to Bitcoin or Ether) for the past four years is because it simply has too many coins. To explain, when a crypto has too many coins it lessens its volatility because in order to double in value the market cap must be increased by that much. I'm not saying XRP doesn't have major potential to breakout. Just don't expect it to breakout to 10 or 20 dollars anytime soon. In fact lower investment expectations for dollar amounts for the time being but by all means invest anyways!! Ripple is 20 cents and if it hits a dollar you have 400 percent return on your investment! Ripple is making deals with everyone, they are piercing new markets, South Korea is trading it massively, and therefore this crypto still has a ton of potential. Additionally, there is alot of hype surrounding it's new Waves platform and summit to take place in November which features guest speakers like economist Ben Bernake. On top of that there are also rumors Coinbase might add Ripple along with other alt coins in 2018. When Coinbase adopts a currency I like to call the outcome succeeding that the "Coinbase effect" as all btc, litecoin, and Ether experienced spikes once added to coinbase.
What I'm saying folks is don't fear Ripple buy it but don't expect Ripple to be the next Bitcoin in price.
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Very good blog. Good to see I'm not the only one that is thinking about this. The quality coins are here to stay and it's like buying in at the S&P 500 50 years ago. Cryptos will fall and rise at a more rapit phase any investment market has ever seen. Just hold (literaly) and enjoy the ride. We do need to look better at the insights of every coin. What team is behind it, is there any management. How strong is the product, is there any product at all? I really advice people to take a look at: https://www.coincheckup.com I'm really enthusiastic about this site, they let you analyze every single coin out there. Check: https://www.coincheckup.com/coins/Ripple#analysis To watch Ripple Detailed analysis