Well the last 36-hours have been an incredible rollercoaster as Ripple, which started the week at around $1.15 now sits at $2.48 after blowing past the $2 yesterday. While many cryptocurrency analysts predicted that Ripple (XRP) would move above the $2, many didn’t expect it to happen until sometime next year. Now there’s already speculation that $3 is in play, here’s a look at Ripple’s meteoric run over the last week:
While the past week has been amazing for Ripple, let’s not forget that XRP started December at $0.23 so it’s up 962% this month. Along with moving past the $2 mark, Ripple also blew past Litecoin, Bitcoin Cash, and Ethereum to become the #2 cryptocurrency in the world.
Along with Ripple’s rise to the #2 spot is Litecoin’s move out of the top five as Cardano overtook it literally while I was sleeping. As Ripple and Cardano move up, Bitcoin, Ethereum, Bitcoin Cash, and Litecoin have all declined which isn’t wildly surprising IMO since all the Ripple buzz is going to likely encourage people to invest in Ripple rather than Bitcoin at the moment.
I personally think that Bitcoin is going to go lower, much lower, and I wouldn’t be surprised to see it drop below $10,000 and even get as low as $5,000. At the same time, I look at Bitcoin like I do .COM, it’s the king, and if it drop down to $5k I’ll be buying more at $5k…not selling.
As I’ve said before, I’m a long-term investor, really in everything that I invest in. Whether it’s domain names, startups, or crypto I’m more than happy to weather the ups and downs since I’m looking at a 5+ year time horizon, and when it comes to cryptocurrency, these are still the very early days.
This coming week Ripple could test the $3 mark and from there, well, pretty much at all times, your guess is as good as mine!