Ripple in 2018!?
Ripple in 2018!?
In 2018 Ripple is as much a household name in the cryptocurrency community as Bitcoin. On December 1, 2017, Ripple was trading for under $0.25 and by the middle of the first week in January trading for over $3.75. I first bought Ripple in June 2016 for $0.006 and considered it a long shot to get to $0.10. The idea that Ripple would ever reach $1.00 with a total supply of 100 billion was unfathomable. For me, this purchase made sense in 2016 because the cryptocurrency trading community was very small. I considered Ripple a nice transition coin for those considering crypto as an investment for the first time, and how blockchain technology will change the world. Something familiar to investors, with Ripple Payment Protocol being used by numerous multi-billion dollar corporations.
Today Ripple is trading at $1.36. While substantially lower than the all-time high of $3.75, it's still an incredibly high price for a coin with 100 billion in their total supply. At $1.36 Ripple has a total market cap of $52,607,368,546 with a circulating supply of almost 39 billion. Which makes it the second highest market cap of all cryptocurrencies that exist, second only to bitcoin.
Is Ripple a good investment at $1.36…? I do have a few concerns, but there is an argument for hold in 2018 for capital appreciation. One concern is that Ripple owns approx. 60% of the coin supply. This makes it possible for Ripple to dramatically affect the price of the coin if they choose. Up to this point, there is no evidence that they have attempted to manipulate the price of Ripple, but there are no guarantees that this will always be the case. Another concern is the total supply, 100 billion coins traditionally speaking, warrants a price per coin under $0.01. Up to this point, however, Ripple has been able to remain the exception to the rule. Lastly, Ripple has never been a favorite among the crypto community by the more traditional crypto investors, and believers in decentralized blockchain technologies.
Now for the upside, and the reasons that I think Ripple could still be a good buy at $1.37. Ripple has proven that there are buyers at over $3.50 that aren’t concerned with the extremely high coin supply. Ripple technology continues to improve, and multiple billion-dollar corporations such as UBS, UniCredit, and Banco Santander are currently using the Ripple Payment Protocol. Contrary to the criteria that I typically use to choose investable coins, my biggest reason for believing in Ripple as a good buy has nothing to do with coin supply or technology. I believe as many do, that at some point in the likely near future, Coinbase will add Ripple to their exchange. If history has taught us anything, 5x to 10x gains are more than reasonable when a new coin is added to Coinbase. Coinbase makes crypto available to the masses and even the hobbyist investors in the space, which of course results in rapid price growth.
I’m interested to hear some of your opinions on Ripple, and as always this is not investment advice. I am not a financial advisor. Most importantly, I encourage all of you to do your own research and make your own decisions. Good luck and happy trading.
Totally agree with you there is still plenty of potential for profit and at today's price, it would still be a good starting point to purchase some ripple. Great post and thanks for sharing.
Thank you, glad you enjoyed!
I will always try to buy more Ripple. It’s still a very young company with a long road ahead. I feel like there will be big gains after MoneyGram integrates ripple into its systems
I agree. Ripple has garnered so much press and attention recently that even rumor of partnerships with large corporations is enough to move the price significantly.
my understanding is that the XRP is basically like GAS for the ripple protocol.... seems like it was good for a pump and that's it
https://steemit.com/cryptocurrency/@primeer/why-ripple-token-xrp-is-terribly-overvalued
idk the answer... seems like a lotta hype to me
Ripple technology is solid, a $3.75 Ripple is obviously the result of a pump, but in my opinion there is still growth potential for Ripple at the current price point. Ripple will likely follow the growth curve of bitcoin if nothing else, aside from its own merits.
This post has received a 5.90 % upvote from @booster thanks to: @theonej.
It's good to hold the top 3 regardless of how you feel about the coin. Banks are afraid of blockchain, and afraid of anything upsetting their status quo.
Sooner or later, however, they'll have to admit they now live in the 21st Century, where things move very fast, and they will need a digital "vehicle" to keep up with the times. XRP is tailor made for them. I think they will adopt it, with much protest and reservation.
I think that in the near future they will have no choice but to welcome their technology with open arms or risk falling behind the curve in an already extremely competitive industry.
This post has received gratitude of 1.22 % from @appreciator thanks to: @theonej.
Very informative post! The only thing I wonder is how do you check the maximum supply of a cryptocurrency? For example, it is said that bitcoin has a maximum cap of 21 million coins. But how do I know if this is true? Can someone explain it to me please? or if there is a website you can share me with information regarding this, I'll be very appreciative. Thank you!
Bitcoin has a public ledger that you can view on one of many block explorers. https://blockexplorer.com/ for example. The bitcoin protocol issues a reward in bitcoin each time a new block is appended to the chain, which creates the circulating supply. In short, the circulating supply is verifiable.
My doubts are cleared out now just because of this. Thank you so much! Cheers!
I'm glad you found the information helpful! Thank You!
I do not like ripple. but it is definitely here to stay!
Definitely not for everyone, especially the old guard so to speak. It is certainly unlike every other coin in far too many ways to name. Not sure it is even fair to refer to Ripple as a cryptocurrency. But it does indeed have a place in the space.
Yes it does, the fact that it is different makes it place!
You got a 2.40% upvote from @postpromoter courtesy of @theonej! Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
This is a fun topic as of late. First, Ripple is, in my opinion, a coin that lives outside the boundaries of a traditional cryptocurrency. Ripple markets itself as a payment network that "connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally." In case you missed it, banks were listed in that group. ;)
Because of this, Ripple can't necessarily be classified as a cryptocurrency because it hardly adheres to any of the factors that make cryptocurrencies what they are known to be (decentralized, fairly distributed through proof of work/stake, etc.). It'd be more appropriate to refer to Ripple as a payment network that utilizes the blockchain.
Because Ripple attempts to appease both traditional payment entities, as well as new ones, it can actually cater to two very large pools of investors:
those who want to invest in cryptocurrencies but are too "risk-averse" to do so, and those who want to invest in cryptocurrency. Because Ripple intends to get as many banks on board, more traditional, conservative investors will see value in this coin. And, because Ripple markets itself as a cryptocurrency, "riskier" investors, and all those who believe in blockchain technology will see value in this coin, as well.
So, with this in mind, Ripple actually has a ton of potential in my opinion. Now, with so much potential already, if Coinbase were to support Ripple, the price could easily go to $30-50 within the first 4 to 6 months of it being on there.
Extremely informative! I agree with everything you have said except for the $30-50. At $50, with the current circulating supply, that would make the Ripple market cap nearly $2 Trillion or approx. 4x the current market cap of all nearly 1500 cryptocurrencies that exist combined. Only my opinion of course, but I think a $5-7 Ripple is possible with Coinbase support, but only for the pump. After a reasonable correction, Ripple will likely settle around $3-4.
I sometimes get a bit carried away with the prices because I've seen how huge this market got in just over a year of me being in it. So, I always tend to compare everything to what I've seen in the past. So, I am admitting fault. @theonej, thanks for sobering me up a bit, and you are correct on the price...for now ;) Let's hope when crypto has a multi-trillion dollar market, Ripple can be up in that $10 range!