Will Ripple ever go beyond $1?
Hello Steemians and cryptocurrency lovers. I am back again with another post. I'm trying to promote engagement and therefore I ask you to please comment if you have even a simple answer to my question:
Will Ripple ever reach or go above $1?
I recently started watching the Ripple coin and I was just wondering to myself why it doesn't seem to want to leave it's comfort-zone. The coin was introduced in 2013 and ever since, the price has never gone above $0.5. In-fact, until April this year, the price has been mostly under a penny (see the chart below) . It is the third largest coin in market cap after Bitcoin and Ether.
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A couple of weeks ago, it was rumoured that there will be a Ripple conference and speculators jumped on the rumours and drove the price up from about $0.15 to about $0.30 but when the rumours turned to news, there was a selloff, I don't know why, anyone who understands these things better feel free to elaborate on this.
Anyway, speculations were rife that the conference will bring some good news for the coin but sadly the conference came and went without any of the expected new and now the coin is trading around $0.20 at the time of this writing.
When I heard about the conference I was excited and I thought I should probably invest in ripple as is still cheap and I can get a sizable number of coins for a couple hundred bucks. There had been a lot of videos on You-tube that were promoting the idea of Ripple taking off next year (2018).
Now it seems the coin is set to languish in it's comfort zone after all. There was no exciting news about the coin during the conference that could have won investors hearts and drove the price up. I am now left with the questions that will it ever gain traction, is it still a good investment? Or is it that the fact that it's centralized keeping it from taking the number 2 spot. If Anyone has been watching it and they understand it better, please give advice on whether it is still worthwhile to invest in or should I look to other alternatives like Etherium Cash?
Please share your thoughts below!
@sayche
I think ripple price will stay low and stable for a long time! As you probably know ripple is a centralized currency and the company Ripple holds a large amount of coins. But thats not bad, they sell these coins to new customers (banks) wich brings more value to the network, in market cap. Since ripple is a deflationary coin (each transaction must destroy a small amount of XRP), we should start seeing the price increase when ripple reach a larger adoption.
Thank you for your feedback. i guess you are right. I guess one can only invest in it for long term as it will eventually become more valuable.
I agree with you, actually I'm a big ripple fan, I think it will be a great investment in the long run!
img credz: pixabay.com
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Ripple coin supply is much higher than other cryptocurrencies, its price can not go beyond $1
yeah, that is very true that ripple coin supply is much higher. This means it's not a scarce coin and that does keep the price low. It makes sense, there are however a lot of speculations that it could even go up to $10. Well, time will tell....
Ripple is a coin I trade in. Not because I expect it to moon but because it does exactly as you state above. It stays in a comfort zone. I buy when it sinks to 14/15 pence I sell when it hits 19/20 pence.
This happens regularly. Like clockwork almost.
I don't think it will ever hit a dollar. Last year they all said that 2017 would be the year for it. It did rise as you say but not much.
My two cents worth :=)
Thank you for the trading advice. I will now be watching it closely to make trades the way you do. The profits might not be a ton but I suppose I can make a decent amount scalping.
This post has received a 0.16 % upvote from @drotto thanks to: @banjo.
thx for the information, greetings
Thank you for reading and greetings to you too.
your welcome, greetings
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STOPHonestly I am frustrated holding Ripple in my gatehub account. I wonder if it's any worth anymore.
I hope you did not sell the Ripple because now you should be smilling :)