Long

XRP Rally

Updated

The inherently worthless XRP token (not to be confused with Ripple) appears to be respecting a support trendline, I expect its rally to continue to higher price ranges.

This is not financial advice. User "eloquentplatypus" accepts no liability for any financial losses due to the information provided.

Note

XRP has now broken through the support trendline and is moving sideways. We may not see a continuation of the rally however it still remains a likely possibility. The closest historical reference we have to compare similar price action is back in December. Each pump was up to a week apart. In Dec the rally would slowly build momentum again so hopefully we see something similar over the next few days.

I don't currently have any postions open on XRP.

Note

XRP is not a classical ponzi but it is a racket like many alt coins. The token is not necessary or useful commercially and exists solely to raise funds for Ripple. Ripple regularly print more weakening the value of existing XRP similar to how fiat is devalued each year. It is unwise to buy this and hold it and consider it an investment.

Note

With regards to my disparaging comments about XRP I decided to do further research even though I had already done some. I realize now that I made some uninformed statements.

I realised that there is actually a fixed supply as opposed to ETH, XLM, EOS etc however the large percentage held by Ripple could slow down future growth when released onto the market.

I also learnt that Ripple is involved with the W3C, the IMF and other important groups and that XRP will most likely become the primary token for web payments.

It may even become a supra national currency.

Note

UnknownUnicorn2616933

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