I also own XRP. Check that out. I like this thing. Anyway, if you want links to this, this is the collector’s item. They’re down below. 1oz of solid silver with 100 XRP loaded on it with certificate of authenticity. It’s 10,000 that are ever going to be made. If you want to take a look at it, links down below. But this story, and again, I shared the link in the description with you for this story because there’s some charts that are interesting to look at.
It says right here, both XRP and silver are highly correlated. Both price charts show a lot of similarities. Both XRP and silver want to resolve higher in 2024. It says, interestingly, both XRP and silver have similarities on their chart. This is nothing new. We pointed to this correlation already many years ago. It is just that the chart setups for both XRP and silver are so strongly correlated that it’s almost a given that both will move higher in 2024.
Now it says the market sizes of XRP and silver. Before looking into the charts, we share a few data points that help us understand the market size of both assets. XRP has a market cap of 32. 8 billion. At the time of this writing, XRP price is at fully diluted. Market cap of XRP is closer to 61 billion. The total value of all cryptocurrencies combined is 1. 38 trillion.
So XRP has a share of 2. 3% against the total crypto market cap. The estimated value of all silver in existence is around 600 billion. Silver price is at $23 right now as of the writing of this story. This is based on the total silver mined to date, which is some 1. 4 billion silver. Taking into account that silver corrodes and is just under half of that silver no longer exists as a metal.
The largest silver ETF SLV is worth some 10 billion at the time of this writing. The current value of all silver held in all silver ETFs. And just so you know, I don’t own any silver ETFs. I think they’re a sham. I would never hold silver like that. All right. I have silver mining stocks and I have physical silver, okay? Silver that is vaulted. All right? So I do not trust ETFs, but it says all the current value of all the silver held in silver ETFs in this world would come close to the current market cap of XRP.
This is an approximation simply to highlight to simply to highlight that both of their chart and order of magnitude of the invested value have similarities. So it goes in this story goes in to talk about the silver chart, the XRP daily charts and it shows you and this is why I’m sharing this article with you down in the description below because I think it’s very interesting how this person has written this story about the prices.
Now, I personally hold both of these assets because I do believe they’re going to go much higher in the future when, who knows? And can they price to dip? Absolutely. I mean, you look at charts and they’re so darn erratic, right? There’s so many things about them that’s interesting. But the one thing that these two assets have in common is the usability. I have a handful of cryptocurrencies, XRP is one of them.
It’s actually my largest position. The reason why is because the usability of XRP when it comes to transferring of Central Bank digital currencies and what Ripple Labs is doing also with silver, silver has so many uses, it’s insane. And both of them are set to slowly diminish because as silver is used in a lot of industries, it vanishes off the market. It’s just gone, it vaporizes. I mean, when you put together silver and semiconductors, a certain percentage of it is lost forever.
As a matter of fact, it’s just not even worth it to recycle it at a certain point because of the price. So it just disappears. Same with the way XRP is built. As more and more usage goes on, XRP little fractions of it get burnt and disappear. That’s why the guys over at Stockpulse or Satpulse wanted to make this coin because they wanted to make some kind of collectible that shows its rarity and they wanted to put both of these, both the metal silver together and the coin.
I think it’s just a really neat article. Now this is what’s interesting. They don’t give exact prices where they’re thinking with the charting. They’re talking about just them being so closely tied together. I wanted to share this with you because I think it is important. If you own silver, let us know down below. If you own XRP, let us know. And I’m just curious for those of you that own both, let me know if you own both XRP and silver because it’s interesting.
The silver bugs, they can’t stand crypto. The crypto guys and gals, they love crypto and metal because they get it. They understand the rarity of these things because like with XRP, there’s only so much that will ever be made and then little by little it’ll start to be burnt and destroyed forever, which means it will have a finite amount and amount keeps getting smaller and smaller. Hey, I hope you got something out of this.
If you want to take a look at the link, the link to the story is down below. If you’re interested in the collectible coins while there’s still some left, go ahead and take a look at the link down below too. There’s a link that you can check out. I hope you got something out of this. The economic Ninja is out. Bye. .