$XRP
I'm posting this once for everyone who doesn't understand the cult following behind XRP.
There are rumors that XRP is worth thousands of dollars. Many people believe that this is not possible due to the large amount of coins in circulation. However, some people keep their coins in cold storage. This takes them out of the market. If too many people do this, there could be a supply shock and the Market Cap would not matter at that point...
Fast forward to today and the recent pumps...
There are rumors that banks around the world are interested in keeping some XRP in them as a reserve (cold storage). If this happens, the amount of XRP actually available for trading would be significantly reduced. Lower supply, same or increasing demand, what happens to the price?
Everyone always cries about "Market Cap would have to be 4, or 40, or 400 trillion, or whatever, blah blah blah". Actually, that's not the only factor.
Do I believe this will actually happen? I'm heavily invested in XRP, but I'm also extremely diversified in the rest of the ALT coin market. I believe in the short and long term success of this coin, especially with the way its CEO conducts himself, presents himself, and his unapologetic manner. He looks like a winner.
I'll take partial profits at $5 and DCA out of my position there, it would be very difficult for me to NOT sell my entire bag at $10, however, I will NEVER sell ALL of my XRP.
Do with this information what you will.
I'm posting this once for everyone who doesn't understand the cult following behind XRP.
There are rumors that XRP is worth thousands of dollars. Many people believe that this is not possible due to the large amount of coins in circulation. However, some people keep their coins in cold storage. This takes them out of the market. If too many people do this, there could be a supply shock and the Market Cap would not matter at that point...
Fast forward to today and the recent pumps...
There are rumors that banks around the world are interested in keeping some XRP in them as a reserve (cold storage). If this happens, the amount of XRP actually available for trading would be significantly reduced. Lower supply, same or increasing demand, what happens to the price?
Everyone always cries about "Market Cap would have to be 4, or 40, or 400 trillion, or whatever, blah blah blah". Actually, that's not the only factor.
Do I believe this will actually happen? I'm heavily invested in XRP, but I'm also extremely diversified in the rest of the ALT coin market. I believe in the short and long term success of this coin, especially with the way its CEO conducts himself, presents himself, and his unapologetic manner. He looks like a winner.
I'll take partial profits at $5 and DCA out of my position there, it would be very difficult for me to NOT sell my entire bag at $10, however, I will NEVER sell ALL of my XRP.
Do with this information what you will.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
XRP
2.1811
-1.07%
