***This article is not financial advice. Always consult with a qualified financial advisor before making decisions with your money**
Yes.
One XRP will not be worth one crisp George Washington by year end. I tend to avoid character assassination as those who dish out hate end up getting hate themselves, but it feels morally incumbent upon me to dissuade any tepid XRP investors from going all in on the recent dip from 1 year highs. XRP is a real product (they argued so in court just like corporations are people) with real customers in the financial industry. I hate to be the bearer of bad news if you are exposed to XRP, but XRP will not go to $10 or even $1 in the near term unless there is a complete collapse of the US dollar. Let's get into why though.
Just stare at this image and really take in what XRP true believers are purporting to know with their multivariate analysis. There are over 340,000 token contracts tied to the Ethereum Ecosystem with a higher fee base than XRP. The typical XRP transaction is about 10 drops which is Ripple Foundations way of saying a hundreth of a ha'penny (a currency so small it fell out of use in the 19th century). Obviously that is a fantastic fee base to encourage XRP adoption, but why is that dangerous for XRP holders speculating on the burn rate of the Consensus protocol to increase the scarcity of their current holdings? Well for starters as seen above not even HALF of the XRP that will be available has been issued. Going off current prices and maximum throughput if XRP burned 15,000 drops a second all day every day for a year what is the total amount of XRP burned from the 100 billion stash? Not enough and if it was enough it would lose its customer base to another SWIFT competitor as there are several in the crypto space, limited by the constraints of being part of differing token contracts which could be mitigated by building their own ecosystem like xCurrent. To me Bank of America is the real winner of the XRP fiasco not mark of the beast holders.
Surely no one could replicate this. LOL. Psychologists have bloviated on the meaning of the symbol X, but to me in the cryptocurrency market it is simply a bad investment at current prices.
