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RE: With all these deals and real life use cases, why doesn't Ripple's XRP price rise?
Oh yeah, I am invested, and have no idea what's going on. Still thinking whether I should buy more or not (sitting on 400 coins). Mind my asking how much you invested into?
I'm currently sitting in over 1k XRP and waiting for something to happen.
But it seems like XRP is the most stable coin of them all. And I'm really starting to think that that's exactly what Ripple wants, for it to be stable and not rise much higher.
"I'm really starting to think that that's exactly what Ripple wants, for it to be stable and not rise much higher."
This isn't the case and Ripple has stated otherwise. You can't expect these things to happen overnight. XRP already went up 4000% this year.
They have also stated that when scarcity occurs they will take XRP out of escrow to dump them on the market. That will effectively lower the price again.
Price is driven by human sentiment. Not just in cryptocurrencies but in everything. The bottom line is that everyone who wants in is likely now in...and some have gotten in at "whatever price I have to pay!" to get in. Bitcoin will be going through a $1000 drop here shortly and all of the rest of the cryptos will likely follow. The entire sector is one MASSIVE price bubble.
Indeed, it is very stable. I hear that's exactly the point - banks don't want to deal with fluctuating currencies for their transactions. I am not sure, but I believe Ripple can and will produce extra coins to combat price rises of the coin, so that kind of worries me. Maybe that's the reason they are not talking much about the coin. They don't really care what price it stays at as long as it is stable. It doesn't mean it won't rise in price, but you definitely can't expect a lot of fluctuation - or really sharp price increases. It is not a good coin for day traders, it seems.
That's why I am not investing into it too much although my original plan was to go to 1000. I am still in doubt. What do you think?
"I believe Ripple can and will produce extra coins to combat price rises of the coin, so that kind of worries me."
"Not only is there a finite amount of XRP — just as with Bitcoin — XRP is actually a deflationary cryptocurrency, which means that a tiny amount of XRP is permanently shredded after each transaction. It’s the opposite of unlimited supply. As time goes on, the supply of Bitcoin remains the same while the supply of XRP will actually shrink, making it even more valuable with each passing day."
from:
http://www.huffingtonpost.com/entry/ripple-and-xrp-are-more-stable-than-you-think_us_591cb3bee4b0b28a33f62915
Hm... So much contradictory information, I am even more confused now.