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Forgive me if the answer appears clear to others. But how precisely is the price of XRP determined? From what I can determine, the standard model of Market Cap = Price x circulating supply doesn’t seem to fit. Since the circulating supply on the exchanges is perpetually ~38 billion (until they release some of the 55billion at least). The price formula would appear to be Price = Market cap/circulating supply But in the case of Ripple, the “circulating supply” is unknown. The total amount available (~38B) is then substituted. But this number is constant. Can someone please clarify how any of the exchanges (or anyone for that matter) can properly evaluate The price of Ripple? Thanks! And forgive me if the answer appears obvious to others.
I got my first experience in this crazy world on august 15, so now we’re 3 months down the line it’s time to make up the balance of this whole adventure. My first purchase was, what else?, XRP after the annoying proces of being verified at Kraken. First 1,5 months just accumulating, smuggling small amounts of fiat to a separate account after some argues with my wife about “ gambling” and “expensive hobbies” or even “ Crypto- addiction” . What followed was day and night glazing at my Blockfolio, being glued to my Iphone, reading everything what is to know about XRP and earning my first 100 “likes” here on this forum. Dreaming of the gigantic figures I would earn with XRP and how I would spent it. There were super energizing and crazy days and hours around Swell, cats that wouldn’t come out bags and disappointment of not being a millionaire after 2 months. Finally I got bored, in it for the “ long haul” , but realizing after just 2 months hodling that I’m in it for the excitement and not for the money. For the journey and not necessarily for the destination ( I have the same with sex, but that’s another story). Sold all XRP and began to buy XML, BCH, LTC, ETH. And waiting for something to happen. And waiting... And then “ the flippening” !!! Stayed up all night, cigarettes, coffee and whiskey, assuring the dog he could lay down again as it was still nighttime. Sold BCH with profit, bought in again at a so called dip and lost nearly all previous profits. The minute I heard the Amex news I sold all sh€tcoins and went all in XRP. Just to see the price drop immediately. Sold half my XRP stack this morning, with the purpose of diversifying and swing trade to ultimately buy more XRP. So where do I stand moneywise? There were moments of a couple of thousand euro ( virtual) profit, as well as moments with a significant ( virtual) loss. But in the end the balance is € 150 ( virtual) profit. The extra cigarettes and whiskey, dogfood and diners with my wife ( to compensate that all my attention went to charts and chats) have cost me much more. Still: no high price for an exciting ride in this rollercoaster, it was worth it! And now I’m gonna hodl for (70%) real.