I haven't been in cryptocurrency for a long time, but as I studied Bitcoin and other cryptocurrencies, I started to realize how ridiculous it is for XRP to be worth $.69 cents right now. Implying a current total market cap of $68,994,641,444.13 based on the total supply instead of the circulating supply.
Source:
https://coinmarketcap.com/currencies/ripple/
Ripple labs, its founders and early investors still have (99,992,233,977- 39,189,968,239)=60,809,265,738 XRP tokens (60.8 Billion, not circulating yet) to sell to the market eventually. Prices will always be under pressure because of that, unless they decide to burn that 60.8 Billion, which they would never do as they can always profit through selling from their escrow account every month.
Imagine someone with a huge holding always selling their crypto every month instead of buying, what would happen to the price? People really need to see how dangerous it is to hold a cryptocurrency that is still majority owned by it's early founders and investors and they derived most of their income from selling their crypto holdings.
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