Ripple to pass 2000 sat soon
There has been a lot of news around ripple lately which resulted in a price hike of over 60% yesterday.
Some might think - this is it - over and out - back to business ripple down to 1000sat.
Let me tell you why I believe that this will not happen:
"Ripple raises $55M in Series B funding from @StanChart @Accenture @scb_thailand @sbigroup " Twitter @ripple
First of all we all know that ripple has been able to raise 55M from Accenture, StanChart, SCB & SBI Group. So far so good but what does this mean to the business?
As many investors know receiving money form big names like the ones mentioned is not easy at all. It requires the right people and the right technology.
It seems Ripple has both. In total they have been able to raise 93M so far - which is quite impressive and more than other coins raised in their ICO.
In addition one has to keep in mind that platforms like Ethereum are still in Beta. Meaning they are still in development and looking for a real world application.
Ripple found a sector which already relies on them and utilises it.
In addition to this we know that Ripple is Apple approved which means it is allowed on the iOS appstore.
Knowing this and having the comment from Jaxx_io on twitter we can assume that this might happen sooner then some might think.
"We've been preparing to quickly add a bunch more tokens into Jaxx. 15-20 over next few months. Announcements coming! Can u guess which ones?" Twitter @jaxx_io
Based on this I personally believe Ripple might follow a similar pattern like Monero did earlier this month.
The whales on Poloniex also started pumping it; with buysupport luring between 900 - 1200 BTC it looks like it won't go back to 1000sat soon.
As we all know in the end its the whales who decide who's hot and who's not but Ripple has proven to be a good investment and it might cross the 2000sat sooner then some of you think.
If the only thing you are hoping on is whales, then I wouldn't bet on it reaching 2000 or even staying at 1400. The market needs to see the value or at least perceived value of the community and its product. It has a bad rap as being the banker coin, which crypto traders see as fundamentally the opposite of the future they want.
Ripple's biggest problem is liquidity (and that its premine). Something only has true value if it's liquid. The tech may be great, but without liquidity it won't be adopted.
They have also been getting less flexible as the big bankers start to take over and it can be seen in articles such as this that detail its loss of functionality, flexibility and centralization: http://bitcoinist.net/wait-ripple-centralized/
To be completely open I own and hold XRP and would love for it to succeed.
nice sum up - hopefully you are right