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jmh45255

Experienced thoughts on XRP direction?

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Hi all,

I am new member here too, and I think this thread could be good one to my question :D 

Firstly: I have invest in XRP a lot of $.

I am very optimistic about Ripple as a company and technology :)  

I am trying to figure it out what is REAL connection between success of Ripple as a company and XRP. I know it could sounds silly but still, financial institution can use Ripple's technology but they dont now XRP. Could you share with me guys your thoughts about connection between RIpple and XRP ? 

Regards

Lukasz

 

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Ripple's job as a company is to drive adoption of XRP. Their marketing and sales efforts along with community efforts will theoretically increase XRP price. Adoption is key to XRP value.

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9 hours ago, LukaszH said:

sounds silly but still, financial institution can use Ripple's technology but they dont now XRP.

The best way to understand this is read the many posts from JoelKatz.  

But in a nutshell.  Ripple are signing up banks.  They sign up because they can save money using RippleNet.

Once they are using Ripppenet (XCurrent) there is no technical hurdle to using XRP (XRapid) to save even more.  Banks are reluctant to use XRP till now because the regulators haven't given clear direction yet.  But they soon will.  

At that point any bank on Ripplenet can start using XRP.  

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10 hours ago, Tinyaccount said:

there is no technical hurdle to using XRP (XRapid) to save even more. 

Could you explain me how they can save more by using XRapid ? :)

Sorry for deep dive question but I want to understand better the situation :)

Edited by LukaszH

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@jmh45255 XRP already popped big last year-  80x then gave up half the gains. It's probably not going to do that again. $1 which I think is realistic near term is only 5x.  If you are looking for a moon shot lottery ticket I'd find an ICO with a small market cap, XRP is already in the top 3-4 market cap coins depending on the day. 

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8 hours ago, LukaszH said:

Could you explain me how they can save more by using XRapid

The best way is to read JoelKatz posts...   that way you are getting the correct information directly.  Also along the way you will pick up a whole lot of other info you didn't know you wanted to know... :) 

Edit:.  Oops forgot the short answer...  Because it eliminates the need to stockpile funds around the wold to settle payments.  That is dead money and costs money to sit there and be managed and settled.

Edited by Tinyaccount
Addendum

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8 hours ago, LukaszH said:

Could you explain me how they can save more by using XRapid ? :)

Hi and welcome, LukaszH :crigon_04: I posted this elsewhere, but here you are:

- here is a long explanation, and a short version, translated by JoelKatz, the chief cryptographer at Ripple:

https://ripple.com/files/xrp_cost_model_paper.pdf

On 04/26/2017 JoelKatz said this:

The abridged model is this:

1) Ripple gets banks to use its payment technology.

Hi Mattia, here is a long explanation, and a short version, translated by JoelKatz, the chief cryptographer at Ripple:

https://ripple.com/files/xrp_cost_model_paper.pdf

On 04/26/2017 JoelKatz said this:

The abridged model is this:

1) Ripple gets banks to use its payment technology.

2) Banks integrate Ripple's payment system into their system.

3) This helps to eliminate all the technical obstacles to banks routing payments through a crypto-currency. (Regulatory, compliance, business rules, integration effort, etcetera.)

4) Banks use the system to clear payments with each other, probably using mostly ILP. (ILP is a protocol that permits atomic, cross-ledger payments. Most importantly, it allows a "connector" to facilitate the payment even if that connector is not trusted by either the sender, the recipient, or the source and destination financial institutions.)

5) Ripple tries to make XRP the premium connector by targeting inefficient corridors.

6) If XRP can efficiently bridge X% of payments between banks that use Ripple, it will.

7) This will increase the demand for XRP as connectors need XRP to buy the destination currency for their trades.

8) If XRP is cheap to trade with other currencies, people who don't know what currency they'll need next may hold XRP.

9) If XRP is cheap to trade with other currencies, people who are willing to buy any currency they can get cheaply may hold XRP.

10) This can lead to a cycle of increasing demand.

image.png.2186e3a53d869dd2d225021cfbadb5bc.png

From the XRP cost model paper -

By consolidating liquidity to service international payments from many, disjointed, international nostro accounts into one XRP pool, respondent banks allocate less total liquidity to service the same volume of global payments.

Here is how: • The bank only has to hold its domestic currency and maintain one account with XRP. • The bank only needs enough XRP on hand to service its largest expected payment obligation. • By making markets directly between its domestic currency and XRP, the bank minimizes the number of intermediaries involved and their markup on spreads.

 

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On 10/24/2017 at 6:39 PM, jmh45255 said:

Now see, $100 seems like a fair place to shoot!  I found people online saying "oh it is the next Bitcoin"...which would be great...but they never give any reason as to why they think that!!!  I was thinking about dropping $3,000...but I settled on $1,000 to be safe.    Hope that doesn't come back to bite me lol

I think $100 is a long way away. Be positive but realistic. We are excited to see it hit $1.00 in the near future. If you are long on Ripple then great. 

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On 10/24/2017 at 6:42 PM, bookworm said:

In recent news, we heard about instant millionaires from small time investments made in Bitcoin.  Most of us would love the freedom of not having to worry about money for life.

Will a small investment in XRP realise our dream if it follows similar trajectory as BTC?  Well, I would tend to believe so which is why I also invested a chunkier amount.  I tend to believe that XRP will hit $1-2 in the near term and if all goes as planned (in my eyes), we should see about $5-10 in about 5 years.  Our small time speculators and our BIG elephants or crazy Koreans may push us over these thresholds then again, this would be gravy at the expense of volatility.

At $1, we talking about 5x the current XRP value etc.  Play with small investments as this crypto market is highly volatile and you'll never know what XRP will be worth in the future ...

 

$5? yes, getting over the one dollar amount is a hurdle, but once that is acheived, we will be at a liquidity of $100Bn. this will allow for more of their partners to actually use XRP. Add to this the lock up, investor sentiment, and the price can sky rocket.

at current prices of around.20, XRP can actually go to $8 -10 easily. Why? Because the initial, almost 4000% jump happened because of 3 S. Korean Exchanges. We now are anticipating SBI Ripple Asia's Virtual Currencies Exchange and SBI max in Hong Kong for Institutional Investors, to open up. I would imagine both these anticipated exchanges will be much larger than the Korean exchanges.

Beware of people saying the price can never go beyond a number. They said that about Bitcoin many times. XRP has a much larger potential than Bitcoin. 5. is way low.

and yes, this is not financial advice. i could be wrong, do your own research, never invest what you cant afford to lose. 

 

Edited by fourthjohn

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