[Poll] Ripple (XRP): Bullish or Bearish ?

Hello. I would like to get the community's opinion on this. I would like to just get it over with and say I am bearish on XRP long term for a few reasons

1. Validator nodes and centralization

2. XRP relies to heavily on Ripple

3. Banks can (and already are I am sure), working on there own solutions to counter ripple. Why? Well banks often try their best to mitigate risk.
One way this is done is by not trusting any centralized authority they don't need to (i.e Ripple). It makes much more sense for banks to rely on their own solution (most likely a blockchain solution), than to trust Ripple, which holds a huge portions of all XRP and have more influence over their coin than any other cryptocurrency (maybe not bitconnect but that's a totally different ballpark).

4. The way the traditional financial and banking systems are tied to government entities.

- What do I mean by this?
- Governments are already starting to create their own crypto currencies because they realize it is the perfect system to tracking and control. If the governments of say, the U.K and the U.S. decide to issue their own cryptocurrency, you can sure as hell bet that large banks will adopt this asset as governments and banks are so closely tied (i.e the Federal Reserve banking System that has plagued America). Banks would much rather use a government backed fiat cryptocurrency then to use a intermediary and centralized company like Ripple to do the same thing.

Look, it's no secret governments are planning to do this or something similar. If this does happen, there would be no need for banks to use ripple since the gov. backed fiat crypto will be much easier to send and could replace regular money.

The whole point of ripple is to allow for a faster and safer way to send funds internationally, but what advantage would it have it USD itself was a cryptocurrency? To me, none.. other than the benefits of a company who operates in the free market.

Now thats not to say ripples tech isn't impressive, because it is, but IMO, it is just a band-aid that will eventually be removed or replaced. Do I see XRP tanking or anything? No? I think there will always be room for XRP in a free market, but to me, XRP was the first real attempt to solve problems with international banking and SWIFT but I promise you it is not the last.

Also it is important to understand that banks wish to retain their influence and power at all cost. Although they may be adopting XRP and partnering with Ripple now, doesn't mean anything is set in stone and I can easily see most banks creating their own solutions, rather a government backed crypto takes off or not. Let's remember, SWIFT has been around since the 70s, and the idea it will sit back and won't try to compete in what is a market with almost no barrier to entry, is crazy. SWIFT does have problems, Such as the NSA spying on SWIFT transactions (terrorist can use SWIFT to send large amounts of cash... so it's understandable but still goes against privacy).

Fun Fact: the main reason the U.S. and other countries don't print large bills like $1000 and $500 bills is because it makes it much easier to transport, smuggle, and launder money. Money Laundering and Financial crime is actually a huge issue which I think is one reason it is taking so long for governments to support crypto and issue their own.


I know this may hurt some of your feelings and I am not trying to call out people investing in ripple, I mean lets be honest I bought ripple at .18 , and still hold it and will continue to hold (probably until the next run up where I will try to catch the peak). I am just giving my opinion on the topic and would like to hear what you all think.

thanks for reading

 

I'm bearish on BTC so naturally i'm bearish on XRP. I still believe that altcoins are heavily tied to BTC and will be for a while. Ty for the insight @Eazy E

 

I'm bearish. Purely because if you include all outstanding coins, Ripple is basically on par with Bitcoin's market cap, at over $200B USD. That's a higher market cap than Visa. There's no doubt Ripple's technology has potential and could one day become an important part of the way money moves across the financial system. But right now it's already being valued as if it has reached its potential.

At best there does not seem to be much room to grow in the short to medium term. Many of Ripple's solutions for bank settlement do not even require XRP to be used. And when it is used, it is simply as an intermediary currency. So plenty of the value behind Ripple, the company, is not captured by the XRP token.

All together I think Ripple is creating some interesting technology, but XRP also appears to be incredibly overvalued. In this market, anything can pump, and it's not often reflective of the long term outlook of a coin. So for that reason, XRP could pump to $5 even despite already being overvalued IMO. But I am definitely not looking to buy at the current price.

 

I think ripple has some more room to move. When it said they would partner with money grams, it was over hyped. It is just a testing program and not a full partnership. Lots of companies have been doing this recently because it gets them in the news and helps hype up coins like ripple. Maybe they will partner, who knows?

I think it may go up tp $5 but at the end of the day, banks won't want to use it in the next coming years. Better and non-centralized options will appear or be created by banks themselves .