29 June 2020 - Crypto Update
This week, we are again very disappointed with our favourite coin in the past. If you are following us since the beginning, you will notice that our favourite coin is Ripple (XRP). As mentioned in our previous post, some other coins have already reach the level near the peak during Feb but this coin is nowhere near that range.
Image from trading view.
Despite having a good news of whales are buy massively XRP, the price did not budge much. Based on the article, we know that a whale has accumulated more than 1.5 million of XRP which is a impressive amount but the price did not budge much. Even with Japan's BSI launching a fund with 50 % in XRP, there seems to be no help to the price at all. Of course, we will hope that the price will moon someday but it don't seem to be going that way. From a technical analysis point of view, we do not see any breakout anytime soon and we hope that we are wrong. things don't really seem to be good for XRP now.
Of course, our theory still stand for which coin will have a real life usage first will be the one to surge for sure in the near future. Currently, we believe that the one that is leading the race is Crypto.com . Though we cannot transact in cryptocurrencies, they are the major player when it come to debit card. Furthermore, the "stake" feature attract people to stake their MCO which will cause more people to hold. this is an amazing feature which will definitely help the price. Their CRO is doing the best currently and you will likely earn 2 times if you buy it a year ago.
For now, we are still holding only BTC, XRP and MCO. We believed they will someday give us a decent return.