With all these deals and real life use cases, why doesn't Ripple's XRP price rise?
Ripple is a legit company. They use their blockchain implementation in order to become the middleman of the entire banking world. Excellent innovation and seemingly great execution as they truly have a lot of deals in place with several different banks and organization from all over the world. But why isn't the price of their platform's fuel, XRP, rising and rising?
I've written a post about it a few days ago: https://steemit.com/cryptocurrency/@valderrama/the-love-hate-relationship-with-ripple-xrp
In that post I tried to highlight that Ripple and XRP are seemingly two different things. They need each other but often Ripple itself will not even talk about XRP. Af few days after I posted this: https://steemit.com/cryptocurrency/@valderrama/does-this-ripple-tweet-give-us-more-faith-in-them
In that post I highlighted that Ripple was basically badmouthing Ethereum... very strange for such a legit company for wanting to make headlines like that. Putting that aside, today they tweeted some great news. A new deal has been made. They have a deal in place with the SBI group. With that deal they've made it possible for 45000 Thai nationals living in Japan to send money home almost instantly without having to wait days and days. The rollout of the service begins today.
Awesome news. Great implementation of the tech. But why aren't they, again, mentioning XRP? Why isn't XRP rising? A short while after Ripple also commented this:
Apparently there's a serious money making opportunity there. I guess Ripple and the SBI group will get that money in their pockets. But the question remains, what about the price of XRP on the market?
As an XRP holder this kind of frustrates... it's a difficult situation to analyze. Any insight is appreciated.
All good point I'v got around 2k of XRP WAITING...
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.
Let me first say that I usually have some money invested in XRP, so I am not a blanket "hater."
Why does XRP not rise monumentally? Well, I think it will over time as more institutional money chases crypto. It was just announced that Pantera Capital is raising $100M for a new ICO fund. The existing fund is a hodler of XRP. But there are some obvious problems with XRP. The parent company has a huge amount of XRP in reserves. Sure, it is locked up, but eventually existing hodlers will be diluted as the XRP are dumped on the market. Also, as I understand it, XRP tokens are not even needed to use the Ripple Network. Finally, I think a lot of crypto types don't like a centralized decentralized token led by the World's leading banking luminaries.
This is why I came to your post ! I have some more digging to do it seems as I didn't know about that transaction that made themselves rich. I truely appreciate your information 🙌🏼