Ripple has a history of pullbacks when parabolic rises happen. Bearish.
I think that's somewhat deceptive. Looking back, it looks like there's always a pullback after a large rise because you don't consider the rise to end until you see the pullback. Is this the end of the rise and the pullback is near? Or is this the beginning of the rise and the pullback will not be until there's a significant further rallying?
That said, this rise was truly spectacular. And the fundamentals of Ripple and XRP are not 20 times better than they were two months ago. So either XRP is overpriced now or the market was dramatically undervaluing XRP for a very long time. I believe it is the latter. But, of course, I also really want to believe that.
I've been following crypto like crazy for some time now.
I've seen many other coins for various reasons go way up past prices like this with only maybe a vague or slight use case and considering the supply which is going to be burned over time it makes me think is the latter as well.
I don't care how much is in supply no reason why Pascal or ETC should be higher than XRP. I mean can't you endlessly mine ETC anyways?
I guess the point i'm getting at is the use case I think far outweighs the supply more than any other coin as no other coins has been adopted by so many big banks and financial groups.
We are talking in less than a month nearly 6 BILLION, not million BILLION, dollars in its market cap in a month surpassing ETH. Hold on lets just focus on this for a sec, yet another coin like ETC that you can endlessly mine at this point in time and its worth nearly 100 dolars and we are talking XRP being 25 cents here.
Its known XRP supply will be burned on every Ripple Transaction that doesn't use XRP if i'm not mistaken? Then I already see a value there much higher than any coin because give it a few years and see how much of that supply is left after banks are trading billions per day on Ripple.
The value even in a 10 year outlook on something like that used in banks, how much of that supply would be left after 1 year even? let alone 10?
This XRP is severely undervalued. Like XRP should be worth like 0.05 as much as ETH should be in my books and has more of a use case than ETH which is still questionable about who is really using ETH to buy anything at all same for ETC and many other coins worth way more than 25 cents which XRP is heading towards it seems.
imo XRP should be no less than a dollar right now.