I first bought Ripple in 2017 for $.22. I bought the dips and ended up purchasing more around $.15-$.17. I sold my ripple for a profit and hold a very small position, but have always been plagued with doubts about its fundamental underpinnings.
Total supply and market cap
With a total supply of approximately 100 billion XRP coins (99,992,725,510 XRP on coinmarketcap) I am concerned with the ability of Ripple to remain at its current price. It’s currently ranked as the third largest coin by market cap at approximately $28 billion dollars. This worries me at a very gut level.
Biggest loser during the bear market
XRP fell majorly during the bear market of January 2018. It lost approximately $20 billion and fell from a high of around $2.5 to $.6. XRP used to have a reputation for being very stable around the $.2 value. It has yet to pop back as other currencies are.
It is the most centralized cryptocurrency
XRP is the most centralized of the crypocurrencies, belonging to Ripple. It’s 100 billion coins were created by the company and there is no mining. XLM (Lumens) were created by a founder of XRP to overcome problems XRP has.
XRP VS SWIFT
Anyone who has sent currency overseas knows the high fees involved with the SWIFT system. The established SWIFT system is functional and profitable.
In conclusion, think before you leap into XRP. It’s not what you think.
Litecoin
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