Topic: Ripple and XRP are partnering with many banks, why does the price keep falling. - page 2. (Read 309 times)

First reason, because its over valued and the second reason is cause the btc price is dropping, so since the crypto market is still tied to the bitcoin price the prices of all the alts is dropping. It isn't just XRP whose price is falling.

Simple in my eyes.
When you invest in something, you invest based on the hope that it'll succeed as a product, driving demand for your holdings so you can sell at an increase, with coins like Bitcoin, it works as a store of wealth and a product for entry/exit out of the crypto space, if you look at Ethereum and other platform coins, they use gas in order to run a contract, as the demand grows for contracts you would expect the cost to grow with it, you need Eth for gas, if you look at storage coins, they charge tokens in order to use the storage platform, as demand grows you would expect the cost to go up due to supply/demand, with most coins we can see how their real world usage will drive up the price, with Ripple it's a little different, why?

Ripple has a huge supply, it's centralised but most importantly, the banks never buy the circulating supply of Ripple or have a need for it, they are given a private blockchain based on the Ripple technology which has nothing to do with the supply you would buy for this coin, so what incentive is there to actually buy a coin which has no demand or product use based on it's circulation? there's none at all, 10,000 banks could use Ripple and not one of them would touch the circulating supply, the only thing that drives it's price up is people not understanding all of this, to me it's the biggest bubble in crypto.

I've never invested in Ripple and never will, it goes against basic logic for me, if the banks did buy in to the circulating supply it would be a coin I would invest in, but otherwise I have to ask, what are you investing in to?

When I ask people why they buy Ripple, they make comments like "because the banks will be using it and pouring billions in to it", this is 100% false, banks will never buy Ripple, other comments like "it's cheap" are also completely wrong, it's got a massive market cap, the huge supply is why it's coin price is cheap, but market cap is the true value of a coin, not single coin price, as of this post XRP is about 3x the price of Litecoin, yet Litecoin has a coin price over 200x that of Ripple due to a much lower supply.

Other than that, bear market, positive news isn't impacting too many coins right now.

because xrp is not a real crypto coin, It's a centralized shit joke of a crypto.  Shouldn't even be listed on coinmarketcap. hope it crashes to zero.

It has done but ripple foundation but you must remember about the fact that the crypto price is not depends on the development or any good news from the foundation itself. Because that depends on the trend of the majority of crypto space itself. The development progress doesn't mean a lot.

I doubt the partnership has been done ripple, is it true? If true, why is there no growth experienced ripple in this year? But I'm not too concerned about this, because there are many other alt its better than ripple.

As long as Bitcoin is falling, every other coin will also fall. Thats why so many people want to have XRP on Coinbase, so at least we there will be a XRP pairing to fiat, so it will be a bit more resistent against BTC drops.

You may use / or instead of and for not to confused the reader. Since XRP is categorize as altcoin you cannot discount the fact the movement of its price is somewhat dependent to BTC. But instead of worrying the downtrend or loss, I think it is perfect opportunity to cost average. We should take this rare opportunity and start filing a pack of XRP.

because Ripple =/= XRP

whenever you hear a news about some partnership between some company, banks, corporation,... and a cryptocurrency (in this case ripple) all they care about is the technology that they are using.

in this case these banks are interested in the blockchain technology and how Ripple is doing stuff so that they can make their own centralized system based on it.

fake news like this can shortly pump these altcoins but not every time and specially not when they are already in a big bubble and are getting dumped hard.

The crypto market in itself is very volatile and right now the situation is terrific. You see blood everywhere in the market so no one is daring to catch the falling knife. So unless we see some stability in the market, don't expect much hike in the XRP price, even though they are doing pretty well in getting big partnerships.

Ripple is actually being used over 100 companies all over the world far better than most cryptocurrency adoption by companies, some of which are using it for pilot testing and some of them have already adopted it.
Their tokens are meant to be like a vehicle for online money transportation through the RippleNet which connects banks, payment providers, digital asset exchanges and corporates but still yet in the past two years the price as not been impressive as it ought to be what can really be the cause??