Considering that the average market cap of an Ethereum based asset is around 50 million USD, the real value of 1 XRP should not be more than 0.0005 USD.
Why Did XRP Skyrocketed?
To summarize:
Majority of people do not understand that Ripple payment protocol and XRP are different. When a private investor invests in Ripple company, people assume that the valuation of XRP should also increase. However, XRP token's valuation and Ripple company's financial situation are irrelevant.
Due to the fact that there are 100 billion XRPs created, the XRP price is low compared to other cryptocurrencies. As a result, new people who invest in cryptocurrencies ignore the market cap, and they think that XRP is very cheap and should go way higher.
As Ripple company holds 62% percent of all XRPs, the amount of XRPs in circulation is significantly low.
Since XRP price increased to unexpected levels, those who shorted XRP got liquidated and had to buy back from higher prices. These short squeezes caused the price move even higher.
With the price increase, the volume also increased to astronomical levels. Some prominent exchange sites in different countries (such as Coinone from South Korea) began to list XRP.
Charles King
There are trillionaire families.
Aaron Gonzalez
weak fud, try to put more effort next time.
>Why Did XRP Skyrocketed? see >ignore the market cap, and they think that XRP is very cheap and should go way higher.
bitcoin's market cap is not the ceiling, see >5736796
>the amount of XRPs in circulation is significantly low.
about half the supply is in circulation. bitcoins in circulation are about two third of the supply (it's an older coin). most coins haven't reached the full supply yet.
>Nobody here cares about money we just want to bring about a new financial system without the Jews
Yet everyone is concerned with moon missions to make loads of cash all the damn time. I’m tired of being poor. Embrace XRP (the future) and we can all live better lives together.
Brayden Green
The banks don't want to collect all of your precious BTC and ETHemon. They don't want your 7 transactions per second, 15 minute block times, and $30 fees. They want you to use a currency that they issue and track. They want to issue it, so they can inflate it and give it to their friends first. And they want to track it so that they can assess sales and income taxes.
There is no "SCARCE" or rare cryptocurrency. It doesn't matter if it only has 16 million units or 16 trillion, especially since they are all divisible by 8 decimals. All that matters is that as many people as possible are willing to trade goods and services for said currency.
XRP is the bank, billionaire, trillionaire, fortune 500, government cryptocurrency. In their mercy for the thousandaires, they've been telegraphing this for a very long time. The market cap of all global paper and electronic currency is about $90 Trillion. If major retailers, such as Amazon, Target, Walmart, Starbucks, McDonalds, etc announce that they will sell products for XRP, market adoption will be very fast and Trillions of dollars will flow into XRP.
Another retarded part of this theory is the claim that the banks want to hoard all the BTC and ETH so they can use it to buy into new ICO's. That would simply result in the banks dis-hoarding their BTC and ETH and releasing it back into the marketplace and they would then be holding bags of various shitcoins.
To summarize this absolutely idiotic theory: > 1) Banks create Ripple (I agree with only this part) > 2) Banks trick the market into trading BTC and ETH for XRP, so the banks can hodl the precious BTC and ETH > 3) Banks then trade the BTC and ETH for shitcoin ICOs. > 4) ... > 5) Profit?
