Waiting for the bottom
As if the news about Ledger wasn't bad enough, there's now another sad saga emerging about a potential lawsuit from the SEC that Ripple is facing. Apparently, XRP is considered a security and Ripple, who have a shit ton of coins have been dumping hard in the market.
You could learn a thing or two from this thread by @leofinance https://twitter.com/FinanceLeo/status/1341474078520127494?s=19
This bad publicity hasn't gone unnoticed and there has been a lot of conversations about the situation around the internet. This situation has had a knock-on effect on the price of XRP and while we don't know what it means for the "blockchain", the price of the cryptocurrency is tanking.
In light of the situation, some small exchanges have even proceeded to delist the coin, thus adding fuel to the fire of consternation brewing around the image of the project.
For ardent believers of the project, this is just a minor inconvenience, and they stand firm behind the project. People like David Gokhshtein and my friend Moquero have been talking bullishly about picking up dumped coins.
While I don't really understand the fundamentals of the project, I like money. I also like picking up abandoned coins, polishing them and then selling for a higher price.
The point is that I'm looking at the potential of picking up a bunch of XRP, but I need to be absolutely sure that it is at rock bottom or close to it before I dive in.
If this case goes in favour of Ripple and they continue controlling things on the blockchain, there will most likely be some green candles along the line. If things go to shit, and Ripple loses, XRP will still exist and I can't say for sure how the coin will perform but at least I'd have reduced the number of dollars I'm risking on the coin.
It's actually a Gamble and you'd be right to talk me out of it. However, I'll be gambling with funds that I'm fine with losing, so not too much harm done in the worst-case scenario.
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When I start my crypto journey, first I heqred about BTC and after that second coin I come to know about was the XRP... I love tobsee if it will gain again....
I hope everything works out for it
https://twitter.com/belemo__/status/1341990082924998657
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https://twitter.com/belemo__/status/1342020134119108608
https://twitter.com/belemo__/status/1342020868638175232
I saw the news about ripple and yeah it's not been a good week to get confidence in crypto hey! I sold all mine off ages ago but I think the confidence in the token would naturally be shaken up with this news.
I personally wouldn't touch the coin again and look into just buying BTC, chuck it in an interest earning app and not worry about it. You seem to like Leo so you could buy more of that but damn, those ETH fees are ridiculous!
Not Financial Advice 😀
Posted Using LeoFinance Beta
I need to let go of my alt maximalist ways and just jump into BTC.
I'd say so, BTC is where the institutions are pouring into, not the alts (at the moment)
It dumped to 22 cents but it's now already 27...
Posted Using LeoFinance Beta
Yeah and it could jump considerably, if the case swings in ripples's favour. Judging by how big they are, I wouldn't be surprised if it does
Hello @belemo
This is one of the great nuances of cryptocurrencies, that their prices have great variations, and there are those who do not like that particularity.
The reality is that, as everything in the future, what will happen with XRP is uncertain, after some official communication is issued prices could go to the moon or simply end up collapsing. Everything is uncertain.
And it will always be a risk to keep the ones you have or to buy new ones... or to sell the ones you have, it will always be a kind of lottery in which you could be a winner or a loser.
That's why I advice people to go into the lottery with funds that they won't mind losing, just to be on the safe side
this is really a hard decision to make, the sec news really have lot of damages to crypto price especially xrp. on my end here, am praying ripple win because if they didn't win, it might get worse
If they don't win, it will affect virtually every crypto, including the Bitcoin and Ethereum
In the world of currencies everything is a game, there will always be 50% to win and 50% to lose so your investment is never risk free, at the beginning of XRP it was never a project that motivated me to invest from my point of view the team that runs it does not enjoy much morale and their word seems to be carried away by the wind, we will have to wait and see what the future holds for these currencies and if it survives this wave that threatens to flood your boat.