XRP bulls are embarrassing, and just as most degenerate believers, they don't quite know how delusional their bull signal callings are and sometimes it's worrisome because they really believe in the dream being sold.
XRP is often referred to as the “bankers coin” and if you think long and hard about it, it's not a totally wrong assessment.
You see, what most enthusiasts mean when they call Ripple’s XRP the “bankers coin” is quite different from what it actually represents.
Banks only deal with centralized money, and you could see how XRP qualifies just judging by it's overall design and market performance over the years.
I personally find it depressing to read up on coins like XRP because I'm certain that I'm mostly going to just keep finding more reasons to not invest in it, even if it were shilled by Satoshi himself.
The average XRP supporter believes that XRP will someday be worth $10 and some even $100, and some of the most stupid amongst them expect a run up to $1,000.
When I come across posts making these incredibly delusional predictions, I can't help but think of just what level of being out of touch with reality would make anyone look at a coin like XRP and expect any growth above $7.
Personally, I don't see XRP ever trading above $5 and I'm only just offering them a little bit of faith that somewhere along the line, they may attract investments that drive the price above $4.
Despites most crypto assets having traded at insane overvaluation in the 2021-2022 bullrun, XRP did not reach a new high. Its last recorded all time high was in 2018, when it hit approximately $3.8, according to data on coinmarketcap.com.
It's crazy to think that it's trading so close to that range currently but it's unable to break above $3.3 into $3.4 despite billions in daily trading volume.
Wash trading guarantees #3 spot stability
A lot of reports on XRP Ledger developments lack credibility. There's never enough information to vet the authenticity of each claim and this leads me to believe that most of what is supposedly being done on XRP Ledger is non-existent, making its asset market a giant wash trading casino.
Ripple controls a significant amount of XRP supply, though the majority of its tokens are reportedly locked in some escrow, releasing about a billion tokens each month, it goes to show just how much influence Ripple can have on the asset’s market.
The SEC probably wasn't wrong to sue Ripple, there's undoubtedly a lot of shady businesses going up there and by the look of things, they sure have good lawyers.
Ethereum sitting as the second most valuable crypto asset by market capitalization is very understandable, it literally powers the largest developer community so there's a lot of value flowing through it, if anything, it is undervalued but we can only blame that on the poor economics of everything built on the network and the centralization.
XRP on the other hand, I see absolutely no reason this shitcoin should be trading as #3. But it is, truly representing its unofficial name; the bankers coin.
By this, I mean that it's a heavily manipulated coin, just as anything controlled by the banks is expected to be. XRP at $10 will mean a fully diluted valuation of $1 trillion, at $100 that would be $10 trillion.
There's no way in hell any of this is happening except the dollar crashes by 70-99%, making $1 trillion not exactly $1 trillion.
XRP trading above $100 would make it more valuable than 685 top banks in the world combined and that is just laughable as Bitcoin needs to hit above $500,000 to achieve that.
There's a reason Ripple introduced a stablecoin, it was evident that XRP as an asset is shit and when people realize that it could cause instability in its market, affecting its traditional clients. The pivot to RLUSD stablecoin ensures that Ripple can still sort banking partnerships without needing to impress the XRP community with a healthy token market.
XRP is fundamentally screwed via its supply and it's the worst investment anyone can make right now.