Epic Pennant on BTC Chart

[xrp-nuke]

Yes it was bad since Sep 2018, hands down. It can become best 2021, leta validate/invalidate that.

[Greencandle]

Bitcoin is breaking the all time high again, lets buckle up for some action. I hope XRP will follow. Is there anyonde to do some TA on the current situation?

[xrp-nuke]

4 minutes ago, Greencandle said:

Bitcoin is breaking the all time high again, lets buckle up for some action. I hope XRP will follow. Is there anyonde to do some TA on the current situation?

Weekly close above 25000 and Market Capacity above 700B, the best present for 2021

[Eric123]

Bitcoin is setting up short term support which looks to be right about $22k.  Big swings but new ground continues to be broken with price action. Every new high creates another base to jump off from.

[Eric123]

Bitcoin is breaking thought the short term downtrend line that was established with the December 19th close.

[Baka]

BTC going up , would have been a good day if XRP was following :')

[Quadripple]

We can be thankful for BTC being strong. At least it mitigates the huge dump a little.
Gonna be dark times for a while I'm afraid!

[Fahimth14]

On 11/30/2020 at 8:38 AM, Fahimth14 said:

XRP is centralised, and Ripple still controls a portion of unique validators.

 

My biggest concern is that Ripple themselves have been arguing that XRP is not an investment, because investments are expected to rise whereas they argue "a holder in XRP is not entitled to share in the profits and losses of Ripple" They themselves are separating XRP from anything that Ripple do see: https://www.google.com/amp/s/cointelegraph.com/news/ripple-likely-sold-xrp-in-an-unregistered-securities-offering/amp

 

That leads to the obvious question what is the point in making XRP available for people to buy?

 

In essence by making XRP available on exchanges and by controlling a large supply of premined coins what is the result? With speculation the XRP coin goes up in price, netting the guys at Ripple a huge amount of cash that they can use to propel Ripple forward. Owning XRP has nothing really to do with Ripple the company, hence why there has been a complete lack of correlation over the last few years of any Ripple news to the actual price action of the coin, unless it is in a Bitcoin bull market. 

 

Am I missing something here and can someone explain to me what xrp the token does other than provide the company with cash?

I come back to this post and a few related ones I made around this time. Anyone who says this is a clever move by Ripple etc has no idea of the process, that has been described by another user a few comments back. 

 

Ask yourself what purpose you buying XRP serves you - it is a premined assett that is only designed to make Ripple money. Ripple executives try to separate the company and the coin...why make it in the first place? No one has explained to me why Ripple made XRP available to the public - if they wanted to use it to provide liquidity to banks they could've done so as a closed private token, fixed in issuance and price for banks to use alone and they could've floated Ripple the company to the public. Owning XRP means giving Ripple money to forward their aims and nothing else. 

If you bought because you saw the price being low thinking I can get a lot of this and if it goes to 5 dollars I'll make it, you've been had I'm sorry to say. Sound investing is not looking at unit prices but the solidity of the underlying assett. There is a reason Bitcoin is worth 20k+ and there's a reason it will hit 6 figures. 

Don't get left holding the bag. Btw Member since 2017, check my profile if you want to blindly accuse of FUD or that its a new profile. For transparency I'm a former XRP holder but now solely hold Bitcoin after spending MONTHS researching the wider crypto space. Do yourselves a favour and do the same, don't get blinkered and please invest your money wisely.

[XrpWave]

I knew it would be a rollercoaster, but didn't expect this

Probably need to wait another few years now ??

I can't imagine this whole XRP-digital asset will be over.

[Eric123]

@Fahimth14 I've been arguing for years with XRP supporters that basically XRP was a way for Ripple to sell equity in Ripple without actually giving away any equity.  Quite an ingenious idea. At best it is a loophole that the SEC will now close. 

However I always felt XRP still has more pump left in it and I still do. 

Play it out.

This is the way I see it.

SEC sued, OK now what? 

1. Maybe Ripple wins - good for price.

2. Maybe Ripple settles - pays a small fine and/or has to stop selling XRP so they Burn their holdings and/or the escrow - good for price.

or least likely

3. Maybe Ripple loses  - pays a large fine and/or has to stop selling XRP so they Burn their holdings and/or the escrow - good for price.

Ripple won't go out of business and XRP won't go away.

Do you see it playing out differently?

I think people selling here are gonna regret it. I'm holding, I'd buy more now if I had the spare cash.

 

 

 

[Kiwi]

20 minutes ago, Eric123 said:

@Fahimth14 I've been arguing for years with XRP supporters that basically XRP was a way for Ripple to sell equity in Ripple without actually giving away any equity.  Quite an ingenious idea. At best it is a loophole that the SEC will now close. 

However I always felt XRP still has more pump left in it and I still do. 

Play it out.

This is the way I see it.

SEC sued, OK now what? 

1. Maybe Ripple wins - good for price.

2. Maybe Ripple settles - pays a small fine and/or has to stop selling XRP so they Burn their holdings and/or the escrow - good for price.

or least likely

3. Maybe Ripple loses  - pays a large fine and/or has to stop selling XRP so they Burn their holdings and/or the escrow - good for price.

Ripple won't go out of business and XRP won't go away.

Do you see it playing out differently?

I think people selling here are gonna regret it. I'm holding, I'd buy more now if I had the spare cash.

 

 

 

What makes you think Ripple cant bankrupt? If they must give back 1.3 billions they sold 1-2 years ago, I do not see why the worst case scenario couldnt be Ripple going bankrupt.

On the other side, big players invested hunderts of millions in Ripple not that long timenago. You do not invest that money if you are not aware of the current situation and potential outcome. 

The only thing that looks extremly bad is both CEOs earning 600m dollars. This is crazy! 

I can lose some money, but they can lose much more.

 

[Fahimth14]

42 minutes ago, Eric123 said:

@Fahimth14 I've been arguing for years with XRP supporters that basically XRP was a way for Ripple to sell equity in Ripple without actually giving away any equity.  Quite an ingenious idea. At best it is a loophole that the SEC will now close. 

However I always felt XRP still has more pump left in it and I still do. 

Play it out.

This is the way I see it.

SEC sued, OK now what? 

1. Maybe Ripple wins - good for price.

2. Maybe Ripple settles - pays a small fine and/or has to stop selling XRP so they Burn their holdings and/or the escrow - good for price.

or least likely

3. Maybe Ripple loses  - pays a large fine and/or has to stop selling XRP so they Burn their holdings and/or the escrow - good for price.

Ripple won't go out of business and XRP won't go away.

Do you see it playing out differently?

I think people selling here are gonna regret it. I'm holding, I'd buy more now if I had the spare cash.

 

 

 

Very good points my friend. I will be completely honest and say im not sure. If xrp pumps to me it is pure speculation and secondary to a btc bull run. I can't see any fundamentals driving the price if that was the case it would've decoupled from btc. For that reason I sold a few months ago after looking into it again in depth with no assumptions made. Took my xrp hat off and came to that conclusion myself after assessing the whole space and educating myself more. Suppose we can all just do the best we can.

[Molten]

Ugh...the story just made the front page on cnbc.com.

This really is not a good look.

[BroHamBone]

17 minutes ago, Master_of_Brain said:

Ugh...the story just made the front page on cnbc.com.

This really is not a good look.

But yet it does.  

Edit:  Confused?  Big picture, this will be a turning point in cryptocurrency history. Let that sink in.

 

Edited December 23, 2020 by BroHamBone

[Eric123]

Bitcoin is above the short term down trend line which has now become support.  The big story is obviously the decimation of XRP times 4.  

Maybe it's because I'm a lawyer, but I am not at all rattled by the SEC Lawsuit.  The SEC is not an agency that is really taken seriously, they are an agency that gets payoff in the form of settlements.   Fighting the lawsuit in court will take longer, but I doubt that is how it will shake out.  Most likely Ripple will pay some money, admit no wrongdoing, SEC will say XRP is not a security but it sort of is, XRP price will rocket.

IMO This matter (whether XRP is a security) is something that needed clearing up and it is clearing the way for XRP's bull run.  I'm cash poor at the moment, (Covid has caused me to spend my crypto money on child care, instead of my kid being in school I have to spend a ridiculous amount of money to have someone watch him during school hours) but if I had the cash handy, I'd be buying XRP at this price.