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Steve Harmon - Ripple (XRP) Up 227% So Far

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The crypto currency Ripple (XRP) up 227% since I recommended 3 weeks ago...I think it has much more t
 

Steve Harmon

December 20 · Issue #14 · View online
Beyond the hype, inside the world of venture capital, tech, stocks and trends, from Silicon Valley to Shanghai, from veteran investor and entrepreneur Steve Harmon - followed by many leaders in finance and tech, see more: http://steveharmon.com

The crypto currency Ripple (XRP) up 227% since I recommended 3 weeks ago…I think it has much more to run in 2018, here’s why:

Ripple Blows Away Other Crypto Currencies
I wanted to share with you a graphic from the company Ripple which I said Nov. 29 was the crypto currency to buy (and which I own). 
It’s already up 227% to 90 cents a coin. But is it done? Nope, in my view.
I think in 2018 XRP could go to $25 or maybe even $50 a coin. Longer range I believe XRP could be more than $250 per coin. And even further out, 10 years, perhaps even $5,000 per coin or so.
While Bitcoin (BTC) and others have also popped, I am looking for longer-term value and scaleability. Let me explain.
In the world of banks and financial institutions speed, scale and cost are everything. The faster a transaction is done the better. Take a look at this graph from Ripple that shows how they stack up versus other major crypto currencies:
source: Ripple (ripple.com)
As you can see, none of the others are even close. Not even the vaunted Bitcoin that has soared to about $20,000 per coin. From 6 cents in 2010.
So here we are again only this time I think we can condense the growth phase of Ripple into 2 or 3 years of hyper growth. Why? Banks and others are using it. It’s not a currency speculation game, which I believe many of the others so far have been.
Basically I believe smart money is seeing in Ripple a massive potential. Real-world application.
Money Requires Instant Transactions
If you’ve ever dealt with the trading desk at a large bank or spoken with large hedge funds that manage $ billions, they require speed of transaction. Imagine if NASDAQ showed you stock quotes from 20 minutes ago…at one time they did, unless you had a multi-million fund and traders plugged into the exchange.
So how valuable will Bitcoin be or any of the others shown above when it comes to the actual APPLICATION of digital currency? What bank wants to wait 45 minutes to settle a transaction? I think you know the answer.
Speed, scale and cost. XRP owns all three of the needed aspects for real-world finance.
Yes, the others will likely pop on news and hype and even application. But I’m not impressed yet with their potential. As always, these are my opinions and not investment advice.
A final note. Crypto currencies are still a fraction of fiat currency in terms of circulating market value. I think this will change on a massive scale in the next 5 years. Thinking of doing a crypto currency fund, $5m…hmmm.
Enjoy the holidays and your loved ones. 
Best,
steve

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