Key Points: - End of year rise all time high of almost $2.50 USD - Could relate to further integration of Ripple technology with banks - Now finding support at $2 USD. Ripple has been one of those altcoins where investors always asked “when is this one going to finally surge into the hundreds? Even Litecoin spikes into the 300’s!”. It’s also one of the major altcoins which didn’t always follow the Bitcoin price trend (similarly to Dash). Now finding support at $2 USD and rising, ripple finally shakes off it's image as the altcoin that just doesn’t move.
XRP is by all means still not an expensive coin to purchase but how high can it really go? With the circulating supply at around 38.7bn, XRP only needs to rise to around $5.5 USD to equal the BTC marketcap. So using BTC as a baseline, a major XRP price surge into the hundreds per coin doesn’t seem likely. Mind you, this is the world of cryptocurrencies where anything can happen.
I have seen some crazy posts on here about ripple I seen one that predicted ripple to be 45.00 by dec 31 2017 I just laughed. People never look at the market cap. But the way you put this I think a lot of people should read it. If ripple was to follow --BTC growth rate years down the road could expect ripple to be around 15.00 that putting BTC around 40k a coin. Again saying nothing really changed however this is the crypto world and tomorrow will change. But Good post It should be read to get people to keep there investment expectations in a reachable goal and hey if hundreds be happy for the gift.
Zezote
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@bigstock2001, Criptos are crazy. I dont like one thing: Basically every cripto has BTC price as basis. This is not good at all. There are a lot of criptos which are better than BTC but they dont succeed. Reason? I dont know
bigstock2001
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@Zezote, ripple is not really following BTC at all. Well atleast not right now. Its new to this kind of volume and spotlight but its really in a different sector of cryptos so I think it makes it easier to seperate from BTC. Unlike LTC and all the fork products that BTC has created trying to compete. Even recently and I mean very recently ETH has moved onto its own path as well as LTC it will be interesting to see if there moves pulls up and BTC follows or continues
PNUTTY
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@bigstock2001, yes it will be very interesting to see if altcoin surges help Bitcoin run from the bears!
PNUTTY
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@Zezote, Which cryptos have you been favoring? I agree, the correlation is frustrating though I guess it means you can just price watch bitcoin to find the dominant trend for another coin that has much better ROI.
I find BCH the most frustrating to trade based on correlation to BTC due to the constant reversal of the polarity.
Zezote
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@PNUTTY, I do some day trade, in order to have volume negotiations. Like this, I can make small profit every day, but almost every day. Im not so greed.
I have no love specifically for any coin, except Xen, which one I was original stakeholder (I paid something like 50 dollars at late 2013 --> to $50 k +/- at january 2017).
Except Xen, I really think Iota will change everything. No tax and kind of unlimited processing transactions limit are blow-mind for me.
PNUTTY
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@bigstock2001, Thanks for the comment. Interesting statement about the 15 dollar price point if Bitcoin heads for 40k. Should that happen, I guess it is also possible that: 1. Ripple could head up further by taking market share from other coins or 2. Bitcoin and Ripple could continue to head upwards along with other major altcoins should market cap continue to increase in size due to new entrants buying into the market.
RichardBranson
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@bigstock2001, I'm sort of surprised the xrp market cap is what makes people believe the coin cannot go into a much higher price, especially when xrp is moving into international banking settlement which is a qraudrillion dollar market. If ripple is pushing into competing with SWIFT (which by the way is a very old system), then of course ripple will have a market cap in the trillions of dollars. It only makes sense since SWIFT handles $5 Trilliion dollars in transactions per day, which is quadrillions of dollars per year. XRP will need to have a market cap in the trillions. This is a much different market model than Bitcoin. XRP should easily surpass Bitcoins market cap given it is trying to take over the worlds international settlement market since it will be over 30 to 60 percent cheaper for banks, and much faster to process.
bigstock2001
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@RichardBranson, I don't think becouse of the market cap is why people say that I think its cause they compare ripples market cap to bitcoins in regards to percentages this is why people say that. However I agree Ripple is in a completely different market than bitcoin. It is completely possible for ripple to pass bitcoins market cap do to the amount of coins in circulation. I think its completely possible if bitcoin did not move up or continued to move down ripple price would have to go up to 6.52 to pass bitcoins market cap at its current price. this could almost be done just by coinbase adding the coin. however if you compared ripples market cap to bitcoins your looking at ripple having to out perform bitcoin by 788 percent to reach a price of 50.00 becouse of how many coins that are in circulation. Do i think its possible absolutely for several reasons but that wasn't my point my point was that people are buying ripple for the wrong reason. they see a cheap price that they can buy a hundreds of coins and only read article titles that say ripple is the next bitcoin. They stop there and don't even read the article. Do i honestly think ripple could reach 100.00 a coin I don't know. there is just too many veribles to consider the biggest one is the growth of crypto in general. How regulation will effect the individual investor becouse lets face it thats what is moving the price is the individual investor. Unlike the stock market where its institutional investors. so we are talking about a price that would be over 7 or 8 years away before its possible and there is too much that is going to change crypto investing between now and than to say if it is possible or not. But your overall point is made Ripple is one of the best coins out there to invest in becouse they have a solid plan in a market that is less competive with other coins. This is why I keep buying
RichardBranson
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@bigstock2001, Thanks very much for replying. I can see xrp at the 6 to 7 dollar range just based on the fact that there are so many people out there that seem to want to buy (when you look at all the crypto blogs anyway) and just can't seem to get verified on these exchanges or can't understand how to actually buy the coin. I assume there is a lot of pent up demand, and of course more people are hearing about crypto and it's a new year. Also, to your really good point, I can't see how Coinbase would not integrate xrp into their trading system given it's in the top five (specifically #2 at the moment). It would be much stranger if they did not add it for some reason, however you never know what's going to happen in this industry. I also continue to increase my position with XRP mainly because of the very good fundementals, and knowing that Google and Addressen Horowitz are Ripples top investors. Plus they are in San Francisco, which helps with the good tech energy going around.