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CryptoGerrie

Why we will be back at 2 USD soon

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2 minutes ago, hodlefer said:

I think the SBI trials are understated, considering Korea and Japan are two of the biggest markets.  If they come out and say the trials went amazing and that their 60 banks are going to roll out to production level, the investors in those countries are going to go crazy for ripple. 

 

Not to to mention people won’t be able to say “banks don’t want XRP” anymore 

Confirmed bank trial of xRapid is absolutely critical to price. It’s the single most important data point. This is where I think the Ripple mgt. team dropped the ball in their strategy piece. The way potential bank adoption was described almost sounded like pure hope. They should have emphasized tangible conversations about xRapid testing like the Japanese / Korean coalition that is setting up a formal group to explore utilization. 

I still think the company has room for improvement in the precision of communication, but it’s gotten much better vs. a year ago. 

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1 minute ago, LoneWolf said:

I think the “household names” also deserve a mention. They may be overlapping with Western Union / Money Gram, but I suspect not.

Being completely honest with myself: I wish MoneyGram wasn’t one of the household names. But I’m all but sure it is.  It’s a non-bank and second largest money transfer company in the world.  I know everyone wants it to be amazon and uber, but I think spreading the hope for these partnerships only hurts XRP because people set their expectations too high.  

 

Its like of if I told you “I think you’re gonna win the powerball” and you get stoked for that $100M jackpot.  Then it turns out you win a 100K scratchoff instead and all those dreams you had for that 100M don’t work, making 100K a disappointment instead of incredible news

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47 minutes ago, CryptoGerrie said:

I am very confident that we will reach 2 USD plus soon. Wandering what you guys think? 

  • The reason for the drop from 3 USD all the way down to 1 USD had various reasons:
    • An overall bear market in crypto with a lot of panics (South Korea, China). 
    • The 3 USD range, had to do with Coinbase speculation, but the 2 USD range not.
    • A lot of negativity in the press around Ripple. Some articles (Bloomberg) even made the veteran investors a bit insecure.  It is not FUD, but reality, investment is high risk. My personal problem is that they don't put a loop under any other crypto. Ripple chooses not to fight this, but will respond will news. I agree with this strategy.

But against all that, this is also the reality:

  • Starting Jan. 30, cryptocurrency traders in South Korea will not be allowed to make deposits into their virtual currency exchange wallets unless the names on their bank accounts match the account name in cryptocurrency exchanges. I don't see this as negative, but very positive. The new money will start to come in end of the month, as all accounts have to be updated.
  • US-based residents eyeing tax returns. And I do believe that US citizens rather invest in a US company then send their money to China.
  • Coinbase is not really needed anymore. Ripple clearly put a strategy in place. With Uphold, but also Coinsquare competition is around the corner for Coinbase. Business 101 tells you no to lose ground to quickly. IMO coinbase had a major resource problem and XRP is ready for launch soon.
  • All the announcements... Yes trials/pilots on XRP so no usage..This won't trigger the current crypto expert/investor dreaming of lamboos and expect 100% in one week. But anyone in IT or with any bank knowledge knows that you don't get to try stuff at a banking system unless intentions are very high to use it. I think big-time investors much be so happy with the XRP being so low over the past weeks.
  • Koreans love Ripple and actually like a centralized coin (XRP is decentralized btw). They understand that principle due to their background. No reason to walk away from that.
  • We will hear from SBI on their trials in Feb. Needless to say that SBI holding is all in on XRP
  • We will hear the other two big players (Western Union and ?)
  • Crédit Agricole Payment Services and Ripple will present the stakes and challenges of the test at the Paris Fintech Forum on 30 January 2018 in Paris.

Happy to hear your thought!

 

Depends on what you mean by soon :).

I would say by the end of H1/2018, we will see 2 USD, but I dont think it is what you meant by "soon".

It is just my feeling that the mood in the market is bearish regarding XRP in the short term. 

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Just now, CryptoGerrie said:

@Coretex, Second week of feb.

You are more bullish than I am then. I hope that you are the one who is correct.

I actually believe that we may go down a little bit in the upcoming months.

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