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The upward burst of Ripple (XRP) seems to be over after XRP / BTC has stumbled into historical resistance against Bitcoin (BTC). Many investors and analysts believe that Ripple (XRP) could have beaten the hand against Bitcoin (BTC). If it moved in sync with the rest of the market, it would still have plenty of room to move against Bitcoin (BTC) and the price should be appreciated in a picking up market. We have expressed our concerns about this development in some of our previous analyzes. Ripple rallies (XRP) have created a short-term euphoria in the market and many new investors have gathered to buy large quantities. However, retail investors were not the only ones buying a lot of XRP.
In fact, some Korean whales have seen an opportunity to load during the bear market and unload it on unsuspecting investors as the market recovers. As far as we know, they could have artificially kept the price of Ripple (XRP) while the rest of the market has collapsed to convince investors to exchange their coins for XRP. Now that the market is full of bags with large amounts of XRP, these whales are looking for opportunities to unload under the price mask that has passed in the short term. As always, most XRP investors will continue to keep their coins thinking that the price can recover in the long run and the whales that know their psyche will take advantage of it, as always.
Chart for XRP / USD (1D)
It is a pity that many people in the crypto community do not think positively about Ripple (XRP). Indeed, Coinbase did not list XRP despite repeated requests from community members. The interest was obvious and they could see it, but they simply would not have listed XRP. They ended up listing other coins like Ethereum (ETH) and 0X (ZRX) later but not Ripple (XRP). Recently, the CEO of Binance has had a success with Ripple (XRP). Other important industry leaders also do not like Ripple (XRP). The main reason is that they believe that the purpose of the existence of Ripple (XRP) in the cryptographic market is to put other projects out of business. They are right to think this way because members of the Ripple team (XRP), including its CEO, have repeatedly criticized Bitcoin (BTC) for being old, slow and expensive.
There are a lot of "centralized" coins on the market. I do not think this is why the most important industry leaders do not like Ripple (XRP). I think it has more to do with what he represents and with the people he wants to empower. While cryptocurrencies like Bitcoin (BTC) want to directly empower owners and users by controlling their finances, Ripple (XRP) wants to empower the banks. This is the main reason why most of the crypto community does not treat Ripple (XRP) like other projects. There is Stellar (XLM) which enables direct users with peer to peer transactions just like Bitcoin (BTC). Most people in the crypto community do not seem to have a problem with Stellar (XLM) but they do it with Ripple (XRP). This is the reason why very few institutional investors hold a significant amount of XRP. Most like Grayscale has only a small part of their wallets dedicated to XRP.
