$XRP/BTC - Why it's hard for coins like XRP to reach ATH again
The characteristics of a coin like XRP:
Consistently failing to have strong break outs after peak (except the one from the falling wedge), XRP is on a slow decline. It is possible that it will go even lower, despite what their Twitter may make one feel.
XRP is a unique coin compared to other coins like it: their core philosophy is to keep a stable price by dumping their own coins into the circulating supply to keep it stable. There is suspicions that their team dumps their own coins around conferences where the price should be going up.
Even whenXRP partnered with a Japanese financial institution to be exclusively its only cryptocurrency, price saw a minor increase before dump.
ripple.com/insights/sbi-virtual-currencies-to-exclusively-list-xrp-at-launch/
Those who have bought it before mid-December 2017 are still doing fine, but considering the resistance it has trying to go up, I would look elsewhere for more likely profit.
- Was insanely cheap
- Huge volume accumulation due to its low valuation
- Sudden insane increase in price valuation, with little reason for it (no working product, only promises)
- Bagholders created by buying much higher than its intrinsic value
- Overvaluation
Consistently failing to have strong break outs after peak (except the one from the falling wedge), XRP is on a slow decline. It is possible that it will go even lower, despite what their Twitter may make one feel.
XRP is a unique coin compared to other coins like it: their core philosophy is to keep a stable price by dumping their own coins into the circulating supply to keep it stable. There is suspicions that their team dumps their own coins around conferences where the price should be going up.Even when
XRP partnered with a Japanese financial institution to be exclusively its only cryptocurrency, price saw a minor increase before dump.ripple.com/insights/sbi-virtual-currencies-to-exclusively-list-xrp-at-launch/
Those who have bought it before mid-December 2017 are still doing fine, but considering the resistance it has trying to go up, I would look elsewhere for more likely profit.
My published indicators: tradingview.com/u/NeoButane/
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