Ripple has doubled today, up from around 15 cents to near 30 cents as the currency suddenly makes an entrance, rising to a market cap of more than $10 billion.
Its trading volumes have gone parabolic. Up to $2.3 billion at the time of writing, with South Korea alone providing some $2 billion as the country takes this space by storm.
They also briefly rose to third position, where they usually stay, but Bitcoin Cash has retaken it at the time of writing with the two engaged in some scuffle.
So, why is this rising? Well, Ripple Labs, the company that holds some 50% of all XRP, has been hyping something to do with blockchains and banks.
It’s debatable whether they have a blockchain, but they do have many banking “partnerships” of sorts as they examine the technology to see if it can be of any use.
Their vague tweet has left many wondering whether it’s yet another bank. Or is it a conference? We can’t help but wonder whether it’s a flying car. The featured image shape sort of fits. Or an airplane? It’s not Superman is it? No, it’s an announcement of an announcement.
We love those ones don’t we folks. The speculations, the rumors, the questions. And then the announcement of something so huge that is probably comparable to them buying new office furniture or some other random thing that is a complete let down.
That’s, at least, how these news of news events have worked in the past. Probably because if the news was really big they’d likely shut up and just announce it, let the news itself do the hype.
However, when the news is about some new furniture some employee is excited about, then they might want to tell us it is coming.
But what? Well, probably Ripple’s attendance in some random conference or maybe a random bank to add to their collection. They’ll probably even say it with a straight face and pretend it’s huge while everyone collectively cries out in disappointment.
Although, we’ll see. Perhaps they’ll be able to buckle the trend, but then we’d have to wonder why they cheapened themselves so much if the news was actually worthy.
Anyway, buy the rumor and sell the news as they say. But be careful, Ripple’s rollercoasters are usually very sharp and you might be left with no chair when the news news is announced.
That’s not advise though and all of the above is speculation. The news might be so big that you might want to buy it, or maybe you don’t want to do anything at all.
Up to you, but the party doesn’t quite start without ripple making some awkward entrance. The South Koreans have likely just found out about it after going through bitcoin, ethereum, bitcoin cash, some tokens.
Where next? Well pick a dart and through it out or go around in circles land. Just make sure you find a chair when the music stahps.