Dear readers, despite the growing popularity of money with banks and governments, Ripple is being sold again. The thief began early last week, shortly after the first day of Ripple's first lecture.
The USD / USD exchange rate fell 6.29% to USD 0.191687. At the same time, the price of Ripple to Bitcoin fell 2.21% to 0.00003357 BTC.
What happened, ask yourself?
Simply: Investors were expecting more than what happened given.
It is not enough that former Federal Reserve Chairman Ben Bernanke celebrated the opening night of the conference, or that Tim Berners-Lee and Vitalik Buterin have delivered essential speeches. Markets were just looking for more significant news.
It was not even necessary that the Gates Foundation announced that it uses the Ripples Interledger protocol to help the population of the sparsely populated world. Liquidity has only disappeared during the week.
We have seen investors negotiate less than $ 100 million XRP on Sunday and Monday. By contrast, the volume of transactions exceeded last week 963.1 million US dollars.
The sharp decline in XRP is also at a disadvantage, as Ripple news has recently expanded. For example, there was an essential piece in Fortune magazine, which revealed the differences between Ripple and Bitcoin brilliantly.
In the article, CEO Ripple says Brad Garlinghouse: "In 2017, people realized that there would not be a single Crypto to dominate them, they would all see vertical solutions where XRP would focus on payment problems, Ethereum focuses on chip Contacts, and Bitcoin is increasingly a valuable, non-competitive store. "
He further explained that the wave only considers a problem that commercial banks have cash: trillions of floating dollars are limited to the Nostro and Vostro accounts.
He points out that digital money can mobilize these funds not only, but is better located that "Bitcoin takes four hours to settle a transaction" and asks for "XRP 3.6 seconds."
Analyst to take:
XRP provides a win-win scenario for all sites. Banks reduce costs, increase efficiency and investors benefit from profits. We believe that this Trifecta is much more convincing than a holy war against the central banks, so we maintain our forecast of curry prices of $ 2.00 by 2018.