Since a couple of hours Ripple made it to the 2nd position in cryptocurrency land in terms of global market cap. With today’s 70 pct rise it overtakes Ethereum with one billion at the time of writing.
Ripple’s spectacular breakout at the depth of the crypto bear market
In our article published last week we made the point that the last crypto bull standing gave up. Essentially, what we meant, is that we at InvestingHaven were among the last crypto bulls standing. No perma bulls, at all, but just unbiased and factual crypto analysts looking at the sentiment and sensing ‘this is a major bottom’ based on sentiment indicators.
This is what we wrote:
It is our dear friend founder of Ethereum: Vitalik Buterin. What strikes us is the media attention he got on his quote on Bloomberg last week, see the article. Moreover, on twitter, what stood out is the engagement from readers on this post and, particularly, his quote “no more crypto boom”. Unbelievable, really. Let’s face it: exactly 9 months ago it was really the opposite. What changed in 9 months? The technology? The use cases? The disruptive potential? Nothing of all that is the only answer! What changed is sentiment, especially among investors but also from anyone else on this world. Even people not invested in Bitcoin or crypto have used the price, both in the ‘bubble’ but also during the ‘crash’, as a gauge to assess the whole sector.
We included this screen, pay special attention to the massive volume of engagement on what essentially is ‘bad news’ for the crypto market. Unbelievable. People were so depressed that they liked his quote. Nine months ago it was the opposite!
We would argue, with today’s evolution, that Ethereum’s founder was sensing that Ethereum would not do what he said. He and/or Bloomberg generalized this quote a little bit too much. Proof? Look at Ripple today, yes cryptos will go many multiples higher, but only a select number of cryptos, and that’s what we already said 1.5 year ago in this article 10 Investment Tips For Cryptocurrencies Investing, you can check it out.
Small detail: Ethereum is not part of our top 10 quality cryptocurrencies, likely we start seeing why.
Ripple now 2nd largest cryptocurrency
Ripple is set to go much, much higher. Period.
We already came to this conclusion a long time ago, and everyone can check out our analysis on Ripple in this article for our premium crypto subscribers: InvestingHaven’s top 10 quality cryptocurrencies.
Many crypto investors started doubting because of the different litigations against Ripple. Also, the crypto sphere was full of criticism that the XRP token (Ripple’s cryptocurrency) is not used so will useless, and, therefore, will go to zero. This is some “research” that tried to make this point.
Remember, all this “news” is not primarily to help investors. It is not research that is useful in understanding a (potential, past or future) investment.
As per our article Ripple: Another Breakout Attempt After The Most Important News Of 2018 the news that really matters is the one that came out early this week: Ripple about to launch xRapid. This is a textbook example of the 1% of the news that really matters to crypto investors. Ripple answered in their announcement this week everything:
- they keep on growing;
- they have an amazing solution;
- they solve a real life problem;
- their XRP token will be actively used in their product.
Note: one week before we wrote that we have lots of faith in Ripple because of 5 reasons, read our alert here.
Below is our unique market cap change which shows that Ripple is now the 2nd largest cryptocurrency. The indicator below is unique, nobody else worldwide offers this. It is available to all premium crypto subscribers of our crypto & blockchain investing research service. You also can become a member now.
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