Another Dip In The Pool Before We Dry Off - Ripple!
I predicted a drop down to .43 which we've hit for a second time in less than two weeks.
Ripple seems to be following BTC much like the other ALT coins. This is regardless of any positive news - its not a reflection of the Ripple project.
Cryptocurrency unlike stocks do not trade on a price to earning basis so valuation. Ripple is difficult to evaluate with traditional means.
I evaluate Ripple this way. BTC and ETH are expensive and can't double or triple as fast as XRP can. Ripple is not simply the world 3rd largest cryptocurrency - its also bigger than the 4th and 5th put together.
This short term consolidation happens every year. This year with institutional money getting ready to buy in - many people are still predicting a 25k bitcoin by year end which would mean XRP would be measured in dollars. This is speculative of course - but so is everything about crypto.
Right now we are playing the same games as BTC - banding between about .50 and .43. Its unreasonable to think the market wont pick a direction at some point - we've been in this area for a long time. In order for XRP to go up - we need more btc support - and we need enough confidence in ripple to break through .48 and .50 convincingly enough to stay above .50.
We are still very much in a buy situation.. One day of gains can turn this whole thing around..
Ripple seems to be following BTC much like the other ALT coins. This is regardless of any positive news - its not a reflection of the Ripple project.
Cryptocurrency unlike stocks do not trade on a price to earning basis so valuation. Ripple is difficult to evaluate with traditional means.
I evaluate Ripple this way. BTC and ETH are expensive and can't double or triple as fast as XRP can. Ripple is not simply the world 3rd largest cryptocurrency - its also bigger than the 4th and 5th put together.
This short term consolidation happens every year. This year with institutional money getting ready to buy in - many people are still predicting a 25k bitcoin by year end which would mean XRP would be measured in dollars. This is speculative of course - but so is everything about crypto.
Right now we are playing the same games as BTC - banding between about .50 and .43. Its unreasonable to think the market wont pick a direction at some point - we've been in this area for a long time. In order for XRP to go up - we need more btc support - and we need enough confidence in ripple to break through .48 and .50 convincingly enough to stay above .50.
We are still very much in a buy situation.. One day of gains can turn this whole thing around..
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