What's it doing?

Accumulation phase
Will pump sooner or later

That would make sense. It won't go below 13200 or above 14200.

former restinpepperipl bag holder here, finally dumped this shit for rdd, its not gonna moon any time soon, its heavily controlled by whales and maybe the owners who own most of the coin.

if its controlled it means (((they))) will pump it sometime, otherwise why control it

Last time it did this it didn't pump for three weeks. I'd expect something like that. It will probably drop lower though in the 11000 range.

I don't understand this line of thinking. Why would the owners want to keep it low? They already hold most of it so they don't need to accumulate it.

Probably because they are targeting banks and want a stable currency for them to use.

I don't understand the line of thinking that they will arbitrarily "suppress" the price of XRP.

The purpose of the Ripple network is for banks to move funds cross-border more efficiently than they do currently. Take into consideration the circulating supply (99-100 billion) and the current price ($0.35). If they need to move billions of dollars for commerce, it would stand to reason that they want the price to be around $1, but probably not more.

Is now a good time to invest? Thinking of selling my ETH and putting it all in XRP

It's a risky move if ETH moons again. I put in a buy order for 13700. The bid walls are growing.

Mate they move trillions

What's a reasonable price expectation for XRP if all of their plans go right?

Poor move. ETH is mooning too hard.

Don't.
Invest some if you want, but don't go balls deep.

My theory, and, of course some other people's, is that they don't want to create a huge bubble which might pop and damage the company and the technology so they want to keep things down low. They still have a long road ahead, so keeping it low is actually crucial for the success.

If ripple tech is adopted and XRP is used as a bridge currency? Fuck knows, see if you can find out how much USD is used for that purpose

Exactly my point.

I agree to a certain extent. When more banks adopt it and it moves to practical use we should see it go higher. Like said, they want to move trillions.

This is a long game for sure.

It's literally eth. Chill.

It seems to be a lot.

>SWIFT messages direct the transfer of nearly $5 trillion worldwide each day.

fincen.gov/sites/default/files/shared/Appendix_D.pdf

Yeah it's really about how much needs to be held and by who. It won't just be banks, if this is the best solution we get every little pajeet forex shop will need it.

I tend to view it in reverse though, on the assumption it's actually significantly cheaper banks will be pressured to use it to keep up with new and revamped forex businesses.

All that seems fairly certain right now though is that SWIFT is fucked.

Yeah they've always appeared as the number one target for ripple so taken a bit of a look into them.

Remember though the bridge currency isn't needed in all cases, it's for fucked up currency pairs so would be a smaller piece of the pie from what I've gathered.

Oh but that 5 trillion is SWIFT alone, they're big, but they're certainly not the only player

I like the way it's going.

What do you think about shorting Moneygram in a few months?

It's an interesting battle we're seeing, eh? If BTC works out for third world countries it kind of undermines a little of XRP's intended goal. Although they do occupy different sectors in the sense that XRP is really for movement of value and BTC is a store of it.

I suppose this is a long and nuanced discussion that I'm not quite ready for. In the meantime just hope all anons earn a little, level the playing field a little. It's the time of the NEETS and nerds, my friend.

Eh, Moneygram using Ripple tech.

Not sure about that, would be doubling down on the bet, I reckon might as well just take XRP all the way and covered from for example moneygram announcing they have a new system that will save them 60%

Yeah you're right, this is pretty much the reason I took XRP in the first place but the reverse - to cover banks in case they managed to nerf BTC / x alt by providing a practically (to normie) identical solution with their brands behind it

I like the new place we're at. Opens up a lot of opportunities. I still feel if Moneygram adopts something similar they still become obsolete. And why not capitalize on a failing business model?

So kind of as a hedge against crypto not taking. Nice.

It's the cash thing though, not really sure how to gauge, maybe have a look where they hold a big presence and look at something like tourism numbers. What do they actually even still do? Is it just basically people can send cash internationally? Can't remember the last time I've even seen one

Yeah, or more specifically the banks not letting it get the upper hand on them, they have everything they need already to do it better if it means the money ends in their grubby hands rather than some chinese btc miner

Mexicans use it a lot.

Lel sold 5K XRP at small profit.

Moneygram and Western Union are still going strong here in Canada. A lot of immigrants need it to send money home. I feel they offered a valuable service for sure. Now we can move on to better things.

Yeah OK so in that case it's really the cash at the end which is their big thing which requires the real estate etc... Maybe an XRP whale will take them on with his own venture

This is when I wish I had access to major capital, so I can acquire a shit ton of XRP to do Moneygram 2.0 out of a small office