The most convincing evidence for an upcoming altcoin boom is now available:
XRP’s at an all-time (sort of) high, and finally the XRP Army appears to be the most intelligent people in the room.
There’s no doubt that this is an important event. The price records set for XRP are crypto’s Haley’s Comet. They come only once every few years. Here, eons is considered a long time.
Mixed reports have been made about whether XRP really has broken through its peak of 2018. Fortune reported yesterday that Binance’s XRP all-time peak is $3.84, while CoinGecko reports $3.40.
According to TradingView, XRP hit $3.3991 at Binance Thursday afternoon. It’s close, but not quite.
Ripple Labs CEO David “JoelKatz” Schwartz, in the past, has been adamant about XRP’s never reaching $3.84 for much of crypto-trading world.
The price of BTC was briefly met on South Korean Exchanges. They were at that time charging a premium for many popular coins including XRP and BTC.
Most crypto investors and traders are trying to avoid. “round-tripping” their bags — holding coins from bull market top to bear market trough and back again.
A real round-trip in XRP would require holding onto the coin through a collapse of 90% between January 2018 and Dec 2019 and another 80% between April 2020 and June 2021.
The problem is that because XRP has been so low since its last high, the equivalent value today will be higher than before due to inflation in US dollars.
In 2018 money, $3.40 would be equal to $4.25. XRP needs to rise another 25-30% to reach its all-time inflation adjusted high. This is shown in the area of beige at the top chart.
This is only true against the US dollar. XRP’s bitcoin and ether rates remain firmly below par, despite the near-500% increase since last time.
On the graph below, the purple line shows XRP against BTC and the pink line its performance against Ethereum.
XRP lost 42% of its value compared to BTC and 64% versus ETH in the trading history since 2013.
What does it matter? XRP’s rally remains a very strong symbol of a crypto groundwell in the US before Trump’s second tenure. This is a sign that the US will be open to the crypto market.
Take Ripple’s early branding and communications: “crypto” You can also find out more about the following: “blockchain” Were curiously absent until the middle of 2017, instead choosing to present their distributed ledger protocol as a payment protocol similar to emails.
Now, they’re “pioneers in crypto.”
Ripple’s reverse chain abstraction is the best there ever was. It’s working.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
