Ripple is having a torrid time lately with FUD clearly affecting price. But is it just FUD, or is there more to it?
By now you know I’m no fan of Ripple. I’ve openly spoken about it and against it on multiple occasions, most notably in my series: “Ripple: we need to talk” (Part 1, Part 2 and Part 3).
I have warned, over and over again, that Ripple is centralised, closely aligned with crypto’s arch-nemesis (banks) and is unsustainable. I’ve stated that it can’t be defined as a real cryptocurrency. In my eyes it is much the same as JP Morgan’s own coin offering.
Can it be? Say it aint so!
Lol. I mean bla bla bla, it could be fake news, but lets be serious for a second. First they list ETC that is a shitcoin and now you get XRP, kind of out of nowhere listed after Ripple had allegedly offered to lend $100 million in XRP to start letting its users trade the token on Coinbase. The firm had reportedly made a similar offer to Gemini – albeit amounting to $1 million.
Seems kind of hard to believe that Coinbase would list xrp for free after being offered $100 million. (If the rumors are true)
Its not unusual to see project leaders paying their way into attention by buying a exchange listing. But what that does is lead to folks not taking crypto seriously when the rich can bribe their way into anything.
Sure, you could say:
exactly like everywhere else.
The thing is that that isnt entirely true. There are laws that regulate those kinds of things in the markets outside crypto, while in crypto its happening literally everywhere. Crypto was supposed to lead us away from the corruption, favoritism, politics, put tech in the forefront, but in reality, white collar criminal activity is one the biggest aspects of crypto right now.
If getting listed was a equal playing ground for everyone when we are talking fees (Nasdaq for example) then i would have no problem. But the centralized exchanges are literally in some cases extorting money, overcharging, lying about volume, pumping certain coins and doing all kinds of other shady stuff.
And none of that has to do with Blockchain technology and everything to do with human nature.
Ill see you around and keep on hanging on! :D—–
Bitcoin has been consolidating within a falling wedge these past couple weeks. Today it broke out of that wedge with a nice increase in volume behind it. Volume is no where near where it needs to be for a sustainable bull run, but that’s not to say it can’t get there.
EOS broke above the known $2.45 resistance. The next major area of resistance is $3.00. If it can remain above at least $2.70 today, it could be a sign this bullish move has legs.
Ethereum bounced nicely off the known $100 phycological support. It’s currently trading around $118. The next major