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RE: Ripple (xrp/usd) Market debt chart on Bitstamp - resistance line on 0,25 USD

in #cryptocurrency7 years ago (edited)

As mentioned in a reply to your other post you're referring to, interesting read.

I sure hope XRP will get to the $20 level as you say but that would be spectacularly unlikely in my opinion. I don't believe Ripple benefits having such a high price for XRP. XRP is basically for the consumer market. When banks implement Ripples framework they can actually buy XRP directly from Ripple themselves and for a super low price or not use XRP at all. Plus, with the amount of XRP on the market in order for the token to reach such a price point, it needs a major cash injection of millions and millions of dollars. It's very hard to really see that happen.

The way i understood the millions and millions of XRP in escrow is for Ripple to better control the price point of XRP. When they believe XRP is becoming too scarce and therefor the price has gone up too much they can release a few million XRP on the market effectively lower the price because immediately there is more available.

As an XRP holder I would even love to see for it to get to $1! But in my mind even that would be unlikely.

Thanks for sharing your insights!

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Sorry. My mistake. I thought 0.18-0.23$

Lol... ok. That makes way more sense ;)

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