Ripple Labs "We are doing for money,what email has done for communication".
According to Chris Larsen Ceo of Ripple Labs "payments and the exchange of value is still pre internet 40 years old technology and that's so expensive which also slows ecommerce and most part of the world don't have ability to do payments, so this new technology rely as second generation bitcoin enables the value to exchange in the same in which information is currently exchanged"
Firstly let us discuss fundamental and technical factors which made Ripple to incline steadily past one month .
Fundamentals
1.Ripple is kind of centralised token which Ripple labs hold majority of circulation supply ...decentralization is the purest aspect in crypto community and they does'nt like ripple for that aspect as the problem is ripple labs are signing big banks ,huge institutions and government regulations.
2.Ripple labs have massive circulation supply almost 99 billion tokens...right now they 18 billion tokens in circulation and announced to lock 55 billion tokens in escrow.
supply and demand matters as if we know 55 billion tokens come in to circulation why will we buy a token at astronomical price? because we get liquidated out and those tokens can FUD the market.Those 55 bn tokens will not coming out soon they have liquidation period where they slow released based on the agreements they reach.
they have already partnered with American Express,Axis Bank(top indian bank) and huge about 150 banking clients...
3.Ripple Labs never mentioned about xrp token how is that they use in the blockchain and how are they used in payment transfers and whats brings up xrp value...they never said how..they only said they are planning to release something which causes to increase xrp token value....But atlast january 31 they are goin to trail with there 5 big banking clients using the ripple token to transfer money...thats big deal because every transaction happens with xrp token ..apart of that xrp token gets burnt and as it is deflationay currency by design .Thats good sign as more clients use xrp token the value goes up.
4.South korea is other major cause as it is planning to ban bitcoin ...and koreans big investors in btc and xrp...so as xrp is framed totallly to partnership with regulatory agency banking institutions and government institutions..So all these money literally goes from Bitcoin to ripple because if it may banned in biggest trading areas.
Technical
- Ripple had a consolidated period of 200 days
Xrp has waited for 200 days and got exploded vertically with daily 10% to 20% increase
2.broke longterm resistance when it 0.29$
3.7400% gain previously
yes xrp rallied from 0.005$ to 0.38$ in 77 days(2/3/17 to 17/5/17) which is 7400% gain which you can see in chart one .And i expect same as numbers may repeat same as per chat if it surges now 7400% again from its longterm resistance 0.29$ it would be 15$ for 77 days again...which you can see chart 3
And as the price surges above 1$ it would be huge benefit for XRP as it will hit in news and thousands articles come in its support for huge buying trend.I feel ripple will soon touch 10$ and as per charts and trends 15$.
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