Hey guys and welcome back to the Weekly Crypto Roundup, even though it’s more like daily at this stage haha. Today I’m going to be explaining Ripple, a “green” cryptocurrency and why it is most likely dying from my point of view.
So what is ripple? Well, Ripple is a peer to peer blockchain that controls transactions. Here is how Ripple put it on their website:
”XRP is a digital asset built for payments. It is the native digital asset on the XRP Ledger—an open-source, permissionless and decentralized blockchain technology that can settle transactions in 3-5 seconds.” - Credit: Ripple.com
So what we are buying here is essentially a very quick payment processor. And we are even exceeding Bitcoin processing speeds here, so Ripple looks like a very good Crypto.
BUT...
Is it dying? Is it too soon to tell? Well, despite my #1 blog a couple of days ago, I think that Ripple may be dying. Take a look at this graph:
Now, this may seem quite promising, as we can see the massive spike within just a few days. BUT, we look a week on and the price is now falling pretty rapidly. If we look at other price graphs from a while ago like Cardano, we can see that there *was* a spike, followed by a downfall when it first came out.
On a weekly note, we can also see a >10% decline on the coin, which is not great at all:
I put it to you that this is the spike. Ripple may rise again one day, but this seems as though Ripple is dropping. Do not take my word for gospel, but I think now is a bad time to invest. I will cry if it turns out that tomorrow it shoots through the roof, but this is what I think. If you are going to invest, I suggest getting only a few units, up to a couple of hundred. Don’t put loads of money in. That’s all for this blog
