R.I.P. XRP

By -

This is exactly the kind of out-of-the-blue event that scares me about the likes of crypto. I am referring to Ripple, which is at twenty cents, a price represented by this price action:

slopechart XRP

Of course, even though the graph above does represent the present price of 20 cents, the chart is from the beginning of Ripple’s success (2017) instead of its demise (right about now). More recent price action, which brings it full circle to the twenty cent level, is like so:

slopechart XRP

This conceals the real meat of the story, of course, which is that $XRP lost about 97% of its value from its early 2018 peak, a time during which Ripple’s founder was, on paper, richer than Mark Zuckerberg. Rest easy that Zuck has secured is rightful place once more.

I just wonder if, in the future, some kind of government edict or action wouldn’t have the same effect on the likes of $LTC, $ETH, or, heaven forbid, $BTC. Let’s face it, Ripple was relatively big in the alt-coin scene, and all it took was one press release from the enfeebled SEC to torpedo XRP.

On an utterly different note, I want to say it was great having SlopeMatrix yesterday. I didn’t have to log in to my brokerage site even once. Matrix kept me up-to-date all day long with streaming information. It’s astonishing to me that microscopic little Slope provides a vastly better experience with my brokerage data then the broker itself. Honestly.

Anyway, I know we’re all wheezing our way to the finish line here, so hang in there. The year has only less than 20 trading hours left to it!