Jump to content
2ndtimearound

17th June 2023: my open letter to XRP investors

Recommended Posts

On 5/13/2019 at 5:30 PM, 2ndtimearound said:

It's all coming - be prepared for a $1000 XRP in 2026 or so, with a nice long ride up to that price (I might take a quiet moment of reflection when we pass the $589 mark, more experienced readers will know what - or who - I'm referring to here). 

 

While we're reminiscing about the early 2020's might be worth relating to the newbies here that joined after 2022 the story of that dark 6 month period that became known as "The Twenty Dollar Collar"  Nearly 7 months of the XRP price straining against an invisible leash. Continually smashing itself against a $20 ATH ceiling with seemingly no way past.  There was much talk about price suppression by Ripple, or dark BTC whales trying to keep the competition down, or incompetence within the company, or lack of direction by the management, or wrong direction altogether.

 

How silly it seems now, but back then it was all too real in the wavering minds of the flip-flop faithful.

Share this post


Link to post
Share on other sites
37 minutes ago, PlanK said:

While we're reminiscing about the early 2020's might be worth relating to the newbies here that joined after 2022 the story of that dark 6 month period that became known as "The Twenty Dollar Collar"  Nearly 7 months of the XRP price straining against an invisible leash. Continually smashing itself against a $20 ATH ceiling with seemingly no way past.  There was much talk about price suppression by Ripple, or dark BTC whales trying to keep the competition down, or incompetence within the company, or lack of direction by the management, or wrong direction altogether.

How silly it seems now, but back then it was all too real in the wavering minds of the flip-flop faithful.

Ah yes, I remember that pretty well.  I think XRP was around $15 when the BIS announced further investment of fiat liquidity into xPool - that brought in a new wave of retail investor money.   The price looked like it was going up to $30 in no time, and when it hit $20 there was this palpable sense that nothing would stop XRP.  And then...7 months of sideways.  It confounded everyone and people started to come up with all the theories you mention.  Who knows why these things happen, but they can and they will. Now, if only I had a time machine back to 2019...

Share this post


Link to post
Share on other sites
5 hours ago, Archbob said:

This is gonna look pretty silly when we're still at $5 in 2023.

I wont feel silly with a 300% lineal price appreciation or 100% compounded annual rate of return on an investment.  Now I might feel silly when my portfolio of equities goes through a worldwide recession and struggles to climb back to where it is today, but that is a different story! :)

Share this post


Link to post
Share on other sites
1 hour ago, ManBearPig said:

I wont feel silly with a 300% lineal price appreciation or 100% compounded annual rate of return on an investment.  Now I might feel silly when my portfolio of equities goes through a worldwide recession and struggles to climb back to where it is today, but that is a different story! :)

Are you serial?

Share this post


Link to post
Share on other sites
On 5/13/2019 at 1:30 PM, 2ndtimearound said:

Once again people are freaking out because XRP has dropped below the $80 support level.  $70 is on the cards in the next few days...and I can only imagine the retail panic if and when we get to that price.  Yes, we hit $100 - briefly.  We all knew sell orders would kick in and we'd come tumbling back down.  We'd been on an incredible run, and we are due a massive correction.  It'll happen, people will panic, and I think a year long bear market COULD be on the cards.  Don't shoot the messenger, just my opinion. 

Now I've said that - just breathe in, breathe out.  And let me give newer investors a quick history lesson and overview of the last 4 years, and encouraging words.   I'll go over some technicals too.  Apologies if you already know this, but it's all relevant.

The last proper bear market was in 2018 / early 2019.  Read that again.  Fairly much we've been in a 4 year bull market (we used to call these "runs" as they were so short!). We've had a few bear "seasons" since then, but nothing decent.  We've been spoiled rotten.  Ever since the SEC gave XRP the green light in September 2019, it's been fireworks ever since.  What followed was a cascade of events that were clearly just waiting for the SEC to drop the flag.  The biggest reveal was xPool.  This blew away the idea that public exchanges would be used for xRapid liquidity, and that banks wouldn't hold XRP.    Instead, banks bought up XRP - causing its price to spike up to just under $10 by December 2019 (from a low of 50 cents in September 2019!).  Banks used their XRP with a non-public exchange known as xPool.  Central banks provided xPool with fiat liquidity.  Banks could trade in and out of this single exchange - facilitating cross-border payments.  Though non-public, xPool was fully transparent.  Every bundled transaction was publicly visible.  Transactions were bundled via Cobalt, with each bundle sent as a single transaction via the XRPL - where each bundle was then unpacked on private ledgers to maintain privacy for bank's customers.   The transparency of xPool meant that accounting firms could audit everything with certainty (with access to each bank's private ledger too), and that governments had full transparency themselves over every single international payment made.  A perfect storm for XRP was brewing.

In fact, the demand for XRP became so great - from banks, central banks, institutional investors, retail investors - that XRP quickly overtook BTC and ETH in a huge wave of speculation that saw the space introduce the "XRP dominance" metric....which has never dipped below 50% since late 2019 (as an aside I met someone yesterday who flat-out didn't believe me that we used to have a "BTC dominance" metric!).  XRP's price was propelled by one good news story after another.  The whales who got in under $1 were waiting for a correction that never came.  And so the price just kept climbing.

History lesson over. 

I say all of this because even though XRP is due a big correction, the demand for XRP is only getting started.  Microtransactions is where XRP's new wave of demand will come from.  Coil is now 5 years old and since its partnership with Google - it's been the number one monetising platform for publishers.  Coil has proven that microtransactions have a solid future.  Next up will be M2M microtransactions on the ILP which will explode volume by at least x1000 what it is now.  You read that right.  Furthermore, STOs will finally be bridged via XRP so you can use your STOs to pay for anything - soon you'll be buying your happy meal with your STOs.  Not only that, but the fast food restaurant will reward your loyalty by loading up your wallet with some of their own STOs.  As mentioned, every transaction bridged by XRP.

It's all coming - be prepared for a $1000 XRP in 2026 or so, with a nice long ride up to that price (I might take a quiet moment of reflection when we pass the $589 mark, more experienced readers will know what - or who - I'm referring to here).  However, before we see those numbers, I'm sure we're going to revisit a low of $50, so hold on to your hats and do not sell.   There's a decent number of whales who got in under $1 and have been waiting for this correction to sell into.  Let them sell, let them enjoy their gains. Take a breather, and get ready for the REAL ride. 

Well......

Thats 10 mins of my life I am not gonna get back........

Share this post


Link to post
Share on other sites

×
×
  • Create New...