Ripple Skyrockets | The Rippening Is Here

Ripple (XRP) has skyrocketed not only over the past 2 weeks, but also the past 24 hours, surging past the $2 mark (and getting close to challenging $3 at one point). The Rippening / Rippling occurred if you look at total supply, but given the fact this supply is mostly locked in escrow, it behaves more like inflation as it is released into the economy slowly.

Steemit Post: https://steemit.com/ripple/@cryptovestor/ripple-skyrockets-or-the-rippening-is-here

Much of this surge in Ripple has come from recent news where Ripple announced three large credit card companies from Japan are partnering with them for a pilot program. In addition, two weeks ago they announced a pilot program with a number of Korean & Japanese banks. Despite these partnerships being exploratory, the market prices them in as full-fledged collaborations due to hype. This type of mentality is not unique to Ripple, but it is affecting Ripple drastically right now so it is worth noting.

I see Ripple as overextended now, although I wouldn’t be surprised if irrational exuberance carries it two fold from here given how absurd the rise in Verge was recently (illustrating how strong pumps can be). We also saw this with Iota before it eventually cooled off. Everyone buys in thinking that other people know something they don’t know.

This is unfortunate because Ripple has a real and interesting use case with an excellent team. It doesn’t need hype to do well, yet this is the nature of the field due to the overinflation of Bitcoin. Furthermore, a lot of people associate the value of the Ripple token with the value of the network. While the Ripple token is the most convenient and trustless currency to use within the Ripple network, it is not representative of the network value and should not be priced as such.

If I had the option, I’d much prefer investing in Ripple the company than Ripple the cryptocurrency. Why? Because I see higher value in the network the company is building than the token itself. Given the company is unfortunately private, this is not an option. I will personally stay away from the Ripple token at these levels.

What are your thoughts? Thank you for watching / reading.

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My Recommended Hardware Wallets:

If you want to store your cryptocurrencies safely, the best way is through a hardware wallet. Seriously – look it up and you’ll find plenty of information supporting this claim. There are alternatives such as paper wallets, but these are convenient and my choice for cold storage (offline):

Ledger Nano S: http://amzn.to/2hZPj0q
Trezor: http://amzn.to/2AxD9TN
Ledger Blue (expensive): http://amzn.to/2hk7xst

I personally prefer the Ledger Nano S, but the Trezor is such a close second that it really doesn’t matter which one you go with. Ledger Blue is premium and convenient, but not necessary.
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My Favorite Book for Investing in Crypto:

Cryptoassets: http://amzn.to/2zKDdCF

This book is, bar none, my favorite book for investing in cryptocurrencies. It doesn’t bog you down with technical jargon, but instead focuses on all the elements you should understand before you invest.

It’s a comprehensive book for both beginners and experts. Beginners will find information about major cryptocurrencies (not just Bitcoin) as well as details on historical market events (that you can draw on for future) and events to watch for moving into the future. Experts will find the chapters on valuation particularly useful. For those of you involved in traditional investing, this book is even more of a godsend as finance info is explored (correlations with other asset classes, ETFs, etc).
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My Recommended Exchanges: Coinbase / GDAX / Bittrex

https://www.coinbase.com/join/5a08b12e305a1401d79d10e0

If you sign up to Coinbase using link above, you and I will both receive $10 each after you buy your first $100 of Bitcoin using Coinbase. Coinbase is much less intimidating for beginners. Once ready, move up to GDAX for cheaper or zero fees. For altcoins, I recommend Bittrex.
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None of what I provide in my videos is investment advice. Please do your own due diligence.
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Twitter: https://twitter.com/Truth_Investor
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Ripple Skyrockets | The Rippening Is Here

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Kane Dane