XRP is a famous laggard – but its time might be now.
Ripple’s XRP is always in the top 10 cryptos, but can’t seem to deliver much in the way of returns. That could change as 2024 grinds on. In addition, XRP doesn’t seem to be impacted by BTC’s performance.
XRP is an oddball of a token, and it looks like a great buy at the moment.
Of course – this isn’t investment advice – it is the ramblings of a madman – so if you buy or sell anything based on what is written here you are as crazy as we are!
XRP: The Forgotten Top 10 Token
There is a lot of drama in the crypto sphere – but with all the noise XRP doesn’t do much in terms of price. It barely moved in USD terms over the past year. While the rest of the market went straight up – XRP was left out in the cold.
Now that cryptos seem to be on a downward path, XRP isn’t really moving down. It seems to be stuck a little under $0.50, and not willing to go much lower. The total float in the market is worth around $26 billion – which is around 5% of ETHs market cap.
So what gives?
XRP is a worthwhile platform. It isn’t decentralized. We all know that. But in a world where Wall St. is launching (and buying) BTC and ETH ETFs – we don’t know how long the “Big Two” tokens will really be truly decentralized – especially when it comes to price action.
We all know that metals like gold and silver are manipulated by Wall St. and London – now it looks like they want in on the crypto sphere.
The major issue for XRP has been the ongoing legal case with the SEC. For the moment, it looks like that case is all but over, and Ripple will be just fine. Yes, the company will pay some money to the US government – and that is about it.
XRP and Ripple aren’t going anywhere – and over the past few years – Ripple grew its industry footprint like crazy. Unlike many tokens in the top 100, XRP offers real value. It is a revolutionary platform that works at a global scale.
With all that it has going for it – XRP should be a lot higher. But it isn’t…
Do You Have A Tinfoil Hat?
What if the SEC’s case against XRP was about a lot more than securities laws and the token?
Maybe the US government sees the potential in Ripple – and wanted the technology for itself. Ripple is a company, unlike Bitcoin, which means it could go bankrupt and be bought on the cheap.
Does anyone out there remember the PROMIS software debacle…and what the US Department of Justice (DoJ) did to a promising private company…it looks a lot like what is happening with the SEC and Ripple.
Back in the 1980s when the world was going digital for the first time, a few rascals from the US and Israeli governments stole and sold copies of the PROMIS software system globally. Needless to say this was totally illegal, but it went right to the top of the Reagan administration.
Both governments also installed backdoors for their intel agencies – and the US DoJ came down hard on INSLAW – the company that was responsible for the version of the software which was stolen. The DoJ wanted INSLAW to go away…and stop pestering the US government about all that money it should be paid.
If you follow the link above, you will see that WIRED says that the US DoJ likely committed the following crimes during the INSLAW affair:
Conspiracy to commit an offense
Fraud
Wire fraud
Obstruction of proceedings before departments, agencies and committees
Tampering with a witness
Retaliation against a witness
Perjury
Interference with commerce by threats or violence
Racketeer Influenced and Corrupt Organizations (RICO) violations
Transportation of stolen goods, securities, moneys
Receiving stolen goods
In other words – some real gangster $h!t!
Oh and just for fun the CIA may have been spying on numerous global allies and could have murdered a few people. Maybe.
What we do know for sure is that the US government will play dirty if they want to own and use a technology. If the US just stole XRP technology and used it in the banking system it would be obvious so this drawn out lawsuit could be the next best thing.
Try this one out: Ripple gets sued – goes out of business – US government-backed company buys it for cheap. XRPL is the new SWIFT.
The same people who could send the SEC after Ripple could also tell the deep money on Wall St. to ignore XRP – and make it look like a very poor place to park money. Buy a US-listed BTC ETF instead!
Anyway – we can’t prove any of this so just take it at face value. Oh, and just like Columbo used to do it…what about all those bogus IPOs back in 2017? Why didn’t the SEC take more of them to task…makes you wonder…anyway thanks for your time…
XRP Disconnected From BTC Prices!
Even with the crypto market downdraft, BTC is still up 100% over the past year. XRP is flat. In fact, ever since 2018, you could almost always buy XRP for less than $1. There were a few spikes, but in general, XRP costs less than a buck.
As cryptos continue to grow in the global economy – and all the legal road blocks for XRP evaporate (Gensler and his staff won’t survive the election in November) – it is hard to imagine a world where XRP is cheap.
In fact, it could play catch-up as Wall St. realizes it isn’t going to be buying Ripple Labs at fire-sale prices in a bankruptcy.
The price point is also nice. While we don’t like the idea of market-cap being used to value blockchains, XRP should be worth as much as ETH – if not more. It has amazing capabilities, and existing adoption in the global financial system.
We don’t provide price targets or timeframes. Sorry – this isn’t trading or investment advice. We will say that XRP under $1 seems low – and if we use the current value of ETH as a guide, XRP should be worth north of $5 under more realistic market conditions.
As George Soros points out, markets tend to extremes. So – you know – that $5 figure could seem pretty conservative in the midst of an XRP market mania!
The post XRP Screaming Buy Me – And It Decoupled From BTC! appeared first on Blockonomi.
