The huge run up was not due to speculation of big partners joining. That had already happened. XRP doesn't move on a single piece of news. That run up was due to a lot of news culminating. We already had major banks, we already had the lock up, we already had the Gates Foundation partnership, etc.
In my opinion, the retrace happened due to things out of our control and were not real reasons. first was Coinmarketcap removing S. Korean exchanges without announcing their intent. This made it look like there was a huge drop. This caused some panic selling. Then there was the rumor that S. Korea was going to ban crypto. While we found that this was just a rumor, it caused more panic selling. We also now see the issues with Tether. This is causing FUD as well.
Much has gotten stronger. the aforementioned deals with MoneyGram, MercuryFx, IDT Corporation etc. Why doesn't XRP move? Because it is all about liquidity. Those companies are piloting XRP and xRapid. In time their volume when they go live will be tremendous.
For now, liquidity will only increase with retail investments. The answer to this is the exchanges. New ones are forming all the time now and are offering XRP. If you don't know about SBI, you need to dig deep. They just went live with their beta for SBI Virtual Currencies, and they are ONLY offering XRP. We see BitOasis, Robinhood soon, and the other one that will rival Coinbase- I forget the name. Soon, the volume from these exchanges will eclipse the volume of S. Korea, but at the moment, the new regulations Koreans are facing is putting a damper on their trading. If you haven't read about it, they are clamping down on fake accounts, making exchange investors link their bank accounts to avoid fraud.
The liquidity issue is something Ripple has been working on for a while. These new exchanges offering XRP isn't something that happened overnight.
So, in all, HODL. Their plan is executing beautifully. The next huge astronomical run will be when the banks and FIs, start to source whether through xRapid or by direct buys. Liquidity must be much higher first, and that is what the exchanges are for.
In my opinion, the retrace happened due to things out of our control and were not real reasons. first was Coinmarketcap removing S. Korean exchanges without announcing their intent. This made it look like there was a huge drop. This caused some panic selling. Then there was the rumor that S. Korea was going to ban crypto. While we found that this was just a rumor, it caused more panic selling. We also now see the issues with Tether. This is causing FUD as well.
Much has gotten stronger. the aforementioned deals with MoneyGram, MercuryFx, IDT Corporation etc. Why doesn't XRP move? Because it is all about liquidity. Those companies are piloting XRP and xRapid. In time their volume when they go live will be tremendous.
For now, liquidity will only increase with retail investments. The answer to this is the exchanges. New ones are forming all the time now and are offering XRP. If you don't know about SBI, you need to dig deep. They just went live with their beta for SBI Virtual Currencies, and they are ONLY offering XRP. We see BitOasis, Robinhood soon, and the other one that will rival Coinbase- I forget the name. Soon, the volume from these exchanges will eclipse the volume of S. Korea, but at the moment, the new regulations Koreans are facing is putting a damper on their trading. If you haven't read about it, they are clamping down on fake accounts, making exchange investors link their bank accounts to avoid fraud.
The liquidity issue is something Ripple has been working on for a while. These new exchanges offering XRP isn't something that happened overnight.
So, in all, HODL. Their plan is executing beautifully. The next huge astronomical run will be when the banks and FIs, start to source whether through xRapid or by direct buys. Liquidity must be much higher first, and that is what the exchanges are for.
