No simple highway, Ripple (XRP) has driven straight off the proverbial cliff with the fluctuating market cap of the past week, followed closely by falling coin-prices everywhere. Echoing the Grateful Dead lyrics I’ve been not-so-subtly borrowing from (did you catch the title and opening line?), this metaphorical road lies, “between the dawn and the dark of night.”
Delving further into this lyrical analogy, Ripple (XRP), like the fountain featured in the poetry of Robert Hunter (the lyrical author of most of the Grateful Dead songs we’ve come to love) was, “not made by the hands of man.” Rather, Ripple (XRP) was forged by a series of financial institutions and corporations who likely benefited most from the recent mania surrounding this altcoins potential listing on Coinbase and it’s eventual utilization by Amazon. The bag-holders of this banker giant, burned by yet another market pump-and-dump, will have to choose in the coming days if they should HODL, or sell out, in hopes to (maybe) buy back at a later date, and hopefully at a cheaper price.
If You Should Go, No One May Follow
This fantastic American folk-song continues to jump out as a metaphor for the once shining star in the altcoin space. Ripple (XRP) is not currently on a path most investors are willing to tread during the current market downturn. Indeed investing in Ripple (XRP) at these levels, at this time, would take incredible confidence. And for you brave souls marching forward on this almost spiritual journey to the moon, as promised in the chat-rooms of your favorite public forums, “that path is for your steps alone.”
You did listen to the song, right?
I don’t mean to say that Ripple (XRP) isn’t a great buy. As a matter of fact, catching the dip (buying in at whatever support level Ripple (XRP) eventually finds), is likely a wise investment decision. After all, let’s not forget that Ripple has the support of over 100 financial institutions and is being utilized as a innovative and cost-effective way of handling complex transactions where the fluctuating price of competing fiat currencies has traditionally caused institutional-sized headaches. While hyped a bit early, the dream of having Ripple (XRP) listed on Coinbase and even used by Amazon are still very real possibilities. And when it happens (notice I didn’t say if), the coin will likely explode upward in dramatic fashion.
Of course, a lot of coins will explode in dramatic fashion as the coin market-cap stabilizes, and then rises, with the ongoing upward-trend we all see coming. The question surrounding Ripple (XRP) is whether it’s worth holding the bag for our banker overlords while the sea-of-red (the color of coins dropping in value over the past day(s)) slowly turns to green, and the altcoins we’ve come to love begin to double and triple around us, again.
Those investors that keep steady and wait, ensuring they take no loss on the gorilla (XRP), are sure to benefit greatly after the passing storm makes way for sunny-days once again on your favorite exchange. But during the time spent waiting for this investment to be made whole, you might find yourself willing to take a loss and reinvest into a currency that sells a future you still believe in.
If My Words Did Glow
Ripple is a fantastic concept and a useful tool. The combination of these two aspects, rarely encountered in today’s crypto-currency market, alongside it’s well known institutional backing, make this banker-coin uniquely situated for long term gains. Still, when grappling with the tough decisions necessary to survive in the ever-fluctuating alternative-currency market, we might all want to pause, take a deep breath, and fall back on the words of our idols in popular music-culture to help guide (at least some of) our investment stances, whether for or against the companies shaping our inevitable future.
When it comes to Ripple (XRP), I think I’ll pass for now. And, as the hippie side of my genetic-pool kicks in (thanks mom), and I begin to consider the world I hope to shape with my investments, I also realize that I may be on my own esoteric path. Whatever sovereign road you choose with your money is up to you. No judgment here. But in the words of Jerry Garcia, immortalized in his amazing performance of the popular song I based this article from, “…If you fall, you fall alone.”