Ripple (XRP) A Rock of Stability – Ready to Move?
Wow What Was That!
Bitcoin Cash (BCH) exploded onto the market tonight, disrupting the less-than de-centralized power structures within the Bitcoin (BTC) (and indeed the entire) crypto-market. And while the movement out of many crypto-currencies dragged on into the evening, (dealing a significant, thought temporary blow to my TOP-PICKS list) we were all given a chance to re-learn the first lesson of trading in the crypto-universe. HODL. Find Ripple (XRP) on Binance
Another great lesson in emergency situations, when people are running for the exits and the embers of your favorite altcoin seem to smolder all around you, is to keep your cool. Don’t follow the crowd. If you must leave, find a stable store of value to hide in and wait out the storm (or fire, or whatever).
A Rock of Stability
Ripple (XRP) was a rock of stability tonight. As a matter of fact, it has been all week. With massive trading volumes seemingly un-affecting the price of this behemoth, Ripple (XRP) acted like the adult in the room, providing a safe-place for the refugees fleeing their native crypto-homes while remaining true to its native believers who have HODL’d the currency through thick and thin. And as the smoke clears from the crypto-world’s most recent disruption there’s a slight chance as I write these words, that the best trade tonight may not be the Running of the Bulls as occurred with Bitcoin Cash (BCH), but with Ripple (XRP), … starting now.
Don’t Bet Against the House
Things move fast in the brave new world we’ve entered. In the la-la land of Bitcoin (BTC) believers, the decentralized nature of the blockchain should prevent the coordinated movements of major players from influencing the store of your labor (you are putting some of your paycheck into Bitcoin (BTC) aren’t you?). Of course, nothing could be further from the truth as the giant mining pools and early-adopters (read, whales) openly admit to communicating the nature of their of buying and selling beforehand. And don’t get me wrong, that’s the way money has always been. And though there is real hope out there for some alt-coins to develop a system that discourages the hoarding by the few at the expense of the many, I wouldn’t bet the farm on such an ideal just yet.
A Major Distraction
Having disrupted not only the three big coins on Coinbase (Litecoin (LTC), Ethereum (ETH) and Bitcoin (BTC)), but the entire altcoin space, tonight’s ridiculous play on numbers (Bitcoin Cash 8000?!), provided the kind of cover a heavily invested organization may need to make it’s move. And while the people scramble to pick up the pieces of their broken alt-dreams, I expect another, unexpected breakout in a few alternative currencies that we aren’t paying attention to. Will it be Ripple (XRP)? Maybe, maybe not, but if you are at all concerned for the volatility displayed tonight, you can at least feel reasonably comfortable that you won’t lose your gains that were moved into this mainstream alt-coin … at least not too much of them. :/
The Banker’s Coin
Ripple (XRP) is a tool for banks. It helps settle complex transactions between different currencies for the most powerful banks on the planet. It has been adopted by more than 100 financial institutions and may be an obvious choice in the future for large scale corporations (like Amazon) as they ready themselves for the adoption of blockchain technology. Ripple (XRP) is a banker’s coin. And unsurprisingly, it escaped unscathed from the stampede of people chasing in and out of these ‘other’ coins like cattle led to slaughter. Whether it moves tonight or not is yet to be seen, but Ripple (XRP) has proven itself stable in the short term, with a huge potential upside.
Blast off with me on YouTube! Subscribe to my new channel and smash the like button!
Coinbase is a digital currency exchange headquartered in San Francisco, California.