If you trade on eToro – ‘The Social Trading & Investment Network’, you’ll be more than aware of the number of people whom continuously rant on the XRP page about how the price isn’t going anywhere, how it’s such a “boring” investment, and more of a “cripple than ripple”. Sigh.

Look, you don’t need to read all of this article. In fact, if you’re just wanting to know when we’ll be off to the moon, head on down to near the bottom of this article with the heading, “When are we going to the moon?

But where does this negative outlook stem from? Well, I believe there’s several answers to this, some of which are perhaps overlapping:

Potential reasons for negativity towards XRP

  • BTC FOMO (Fear Of Missing Out)

I’m certain that if it wasn’t for Bitcoin and a few other alternative coins that are going astronomical over the past months, then XRP “investors” wouldn’t be so negative.

  • Poor understanding of trading

The remarketing campaigns that eToro deploy (adverts found across the web) seem to be targeting a certain type of customer, with a certain type of ad.  There are ads that I’ve seen that mention insane returns, which, of course, can be factual, but unfortunately, eToro also focuses very much on how easy it is to get trading on their platform. And don’t get me wrong, it is… it’s just as simple as this eToro ad states:

https://www.youtube.com/watch?time_continue=2&v=EWaX7TC_O7k

As you can see from the above video title, it states, “Hot to Invest in Ripple in 16 Seconds!” and then states the following steps;

1) Click ‘Trade’

2) Enter amount

3) Hit ‘Open Trade

4) “Then enjoy”

And, again, to be fair, that IS how simple it is to get trading. Unfortunately, unless you delve a little deeper in to trading (not just on eToro, but in general), you can come unstuck very quickly.

Anyway, I’ll post an update another time about the pitfalls people need to look out for when it comes to eToro as a newbie, but yes, I believe this is the other key issue – newbie traders that are swept away with the hype and excitement of cryptocurrency.

Is Ripple really a “cripple”?

No. Sure, it’s not going “to the moon” like Bitcoin, and although I do hold Bitcoin, I do not trust it, neither do I think the all time highs will last. It is a rubbish coin, but unfortunately, it was the first and it’s the one that gets the hype – I’ll be talking about why BTC hasn’t got such a sunny future very soon, but for now, let’s look at why Ripple Labs XRP is not a cripple – it can be summed up in just 1 chart over a 6 month period:

Note the trendline that clearly shows how the dips are not going to previous lows, consecutively over a 6 month period now. If you can’t get excited about that, then, well, I don’t know what to say!

Are we going to the moon yet?

NO. No, no, no and no. As shown by the graph, the general trenline for the lows are picking up month by month, but this is not what gets us to the moon, but it does give you targets to look at for short term buy, sell and close points, i.e., tougher and tougher to be able to open a new buy position at 0.20, but you can also see the spikes at the point of which you could keep closing positions. THAT’S how you can make weekly/monthly profits with XRP, by studying the charts and trading on these types to dips and peaks.

When are we going to the moon?

You know what also makes me *lol* about a number of trading newbies that are on eToro? The continuous, unsubstantiated comments (“facts”?) of “HODL” because “It’s going up, we’re off to the moon now!” No, please, just shut up.

Telling people to “HODL” (a term that makes me cringe by the way) isn’t going to get XRP to go the way you want it to. IF you think, we, as the public can have an impact on this price going to the moon, I dare say you are probably already living there, as you’re talking nonsense, thus, can only assume you are in an oxygen deprived environment.

You know what will make the XRP price “go to the moon”? Corporate uptake. I’m talking about the financial sector, and, well, any large corporation that would make use of 1) lower costs of international money transfers and 2) speed of which point 1 takes. As stated by Ripple Labs key Cryptographer, David Schwartz, below:

 

So, investing in XRP? Great. Just remember, the ONE thing that will take this baby to the moon is the adoption of banks, the wider financial industry and large corporations.

Timeline? See my next article for the answer on that one, click here!

 

CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest. 

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T.

The Coinbase XRP Rumour – The Case for NOT Adding XRP

As a holder of a substantial amount of XRP, amongst other alt coins, as well as Bitcoin, I cannot tell you how bad my cringe glands flare up every time I hear someone state with absolute certainty, that “XRP will be added to Coinbase soon!”. Honestly, it’s quite interesting to watch how this rumour has played out and evolved since December 2017.

Rumour Fuel

The fuel of this rumour? Sceptics tell us it’s the “whales” planted this rumour and the community ran with it. Personally, I don’t care who started it, it wasn’t big, it wasn’t clever – and that’s what worries me about the community. Is it really made up of a bunch of thick twits, or is it simply overly optimistic wishful thinkers? I think it’s a good chunk of XRP holders that have been blinded by their wishful thinking – that’s the real issue here. People need to finally open their eyes, or we’ll continue to get screwed by ridiculous, emotional movements in price. As we’ve said again, and again, and again; DO YOU OWN RESEARCH.

The original rumour video

Simply viewing a video of someones screen, reporting to be from a Coinbase engineer, then believing it, is beyond madness, but yes, that’s how the first rumour of XRP on Coinbase took flight!

Naturally, it was debunked with ease, but it was too late – the rumour mill spun up and out of control and anyone saying it was fake was shouted down as being a pessimist!

Coinbase keep alluding to XRP being added

Are they, really? It’s funny how someone can read a blog post and see it as a positive, then someone else (I) can read it and see it as a negative, i.e., not in favour of XRP being added. And yet, here we are in March and people are STILL convinced Coinbase are going to add XRP, even though Coinbase COO openly mocked XRP on CNBC’s Fast Money.

Anyway, here’s why we think XRP won’t be added any time soon.

Note: we are saying we do not believe XRP to be added any time soon. That doesn’t mean it won’t be added in the future, but we doubt very much any time soon – and absolutely not one of the first set of Alt Coins to be added. Reasons listed:

  1. Coinbase’s FRAMEWORK for selecting new coins to be added to exchange. A FRAMEWORK, for those that don’t understand, gives and outline and sets of criteria to use when evaluating a coin to be added. There are numerous fall downs for XRP at this point already; a) centralised (although I realise the ledger IS becoming LESS centralised). b) Company must not own a majority of the coins. Hmm, contentious point, but it’s believe to hold the MAJORITY. However, this also includes the escrow that they setup, but I think it’s still fair to add Escrow numbers to the mix as they still have control over this. View the framework for yourself here: https://www.gdax.com/static/digital-asset-framework-2017-11.pdf
  2. Reiterating protocol for adding new coins. Coinbase ran in to some issues late 2017 with some alleged underhand dealing with Bitcoin Cash (BCH) and inside trading, i.e., buying it cheap prior to announcing that they were going to add to Coinbase, which they knew would boost the price. Thus, I believe this is why they are reiterating their efforts to not look like fraudsters… I mean, prove they’re not fraudsters. Anyway, this blog post also reiterates that the FRAMEWORK (as per point 1) is still in use, but also some other things to note, in particular to RISK scoring. I’d say, right now, on top of the framework, the risk score for XRP is quite high for Ripple, due to the R3 Ripple lawsuit that’s still ongoing.

Conclusion

*Sigh*. I don’t like being *that guy* that sounds like a neggy peggy, but to me, it looks obvious from the above that XRP is not being added any time soon. So, what does that leave us with? Stellar Lumens (XLM)? I think that’s more of a sure fire bet – especially as it’s XRP’s arch nemesis… and let’s face it, Coinbase CEO Armstrong made it very clear in the past that he is not a fan of XRP. Frustrating? Yeah, we know. :-/