- Was insanely cheap
- Huge accumulation due to its low valuation
- Sudden insane increase in price valuation, with little reason for it (no working product, only promises)
- Bagholders created by buying much higher than its intrinsic value
Consistently failing to have strong break outs after peak (except the one from the ), XRP is on a slow decline. It is possible that it will go even lower, despite what their Twitter may make one feel.
$XRP is a unique coin compared to other coins like it: their core philosophy is to keep a stable price by dumping their own coins into the circulating supply to keep it stable. There is suspicions that their team dumps their own coins around conferences where the price should be going up.
Even when $XRP partnered with a Japanese financial institution to be exclusively its only cryptocurrency, price saw a minor increase before dump.
Those who have bought it before mid-December 2017 are still doing fine, but considering the resistance it has trying to go up, I would look elsewhere for more likely profit.
Citation required. Do you have ANY source for this assertion? You don't because suppressing the price works contrary to design of the system. As xRapid and XRP is increasingly adopted by the likes of Moneygram and eventually xCurrent users, the price of XRP HAS to increase to meet liquidity needs. The greater the volume moving through the system, the higher the price has to be to meet the liquidity needs of that network. This is fundamental to it's design.
It's such a basic concept that seems beyond the grasp of a community only adept at repeatedly drawing pennants and flags. Here's a basic thought exercise that i stole to explain the liquidity problem and its relationship to market cap and throughput that's key to what Ripple does. Market cap being one the single most incorrectly and overused metrics in this space.
Look at coinmarketcap right now and compare the daily trade volumes to the total market cap. The market cap will always be around 10-30x higher than the daily volume. More in periods of stability, less in unstable periods. It has to be to allow value to transfer while maintaining the current price. If the market cap were to = the daily volume, you're trying to move the ENTIRETY of the instruments value simultaneously. This is obviously impossible and results in a lack of liquidity that would see prices explode briefly, then dump catastrophically resulting in extreme instability which is terrible when trying to transact value. So the market naturally settles where MC > daily volume by a function of price x supply (obviously).
Now transpose this concept of market cap, volume and throughput to Ripple who buy design exists to serve as a means of liquidity cross-borders. As XRP adoption increases and it's used as a liquidity vehicle, it's market cap MUST be a significant factor greater than the volume it's transacting. So if XRP starts moving $10 billion a day, its market cap will settle somewhere between $100 and $200 billion. If a $100 billion starts moving through it a day ....
So artificially "suppressing the price" would be counter-intuitive to the goal of XRP adoption which is proving it's ability to provide liquidity. And i just wasted a significant portion of my own time even writing this.