And now what do I do with my XRP?
Hello everyone, I hope you are having a quiet last few days of this particular year 2020. We have gone quite far in being active on this platform, trying to keep up with the advances that the world in general is having. If we talk about cryptocurrencies we will know that Bitcoin is breaking the maximum price barriers it had, however, we have also witnessed that most of thealtcoins have not run with the same serum.
What is really going on? Is everyone really focusing on BTC and the money that is invested in the Altcoins is moving towards the mother currency? We could expect a reinvestment in currencies like this platform later?actually I have a lot of doubts, however, here I am and will continue.
I suppose you are aware of the recent announcements by the U.S. Securities and Exchange Commission (SEC) against RIPPLE (XRP), the fourth largest cryptocurrency in market capitalization (according to https://coinmarketcap.com/es/), which has caused the price of XRP to plummet, literally. Around all this that is happening, I would like to discuss some things regarding what is going on in my mind around this issue. I would like to read in the comment box your opinions.
Some weeks ago everything pointed very well to XRP, because what I bought some units of this cryptocurrency, when it was at 0.5$, a few days later it went up to 0.7$, I said to myself "it could be a good moment to sell", however I did not do it, I believe that the project that is behind is solid, it has good case of use, so I will maintain them...
Now, the current reality is very different, with a frank decline in price, with more than 45% decrease, puts me in a somewhat complex situation to make a decision. Selling at the current price would make me lose almost 50% of my investment, but there is a risk that the price will continue to fall as it enters the legal problem, which has generated a lot of instability in the price with a pressure to sell, especially by those large holders of this cryptocurrency. So, selling could be an option, or maybe not...
There is also the possibility that this project will go very well after the demand, or simply not proceed with the demand and the price increases considerably, even well above the price at which it was before this whole situation, so, if I guide myself by this possibility the option to buy right now, that the price has decreased would be a good time, or even, wait until it goes down a little more (something that could happen) and buy, to expect it to go up .
But what I have mentioned is hypothetical, also it can happen that simply this project disappears victim of all the pressure that could exercise the SEC and to lose my money...
This is part of what can happen, part of those so many things that we should analyze before investing and even before withdrawing an investment.
I would like to know what you think about it:
What would you do in my place?
Does another possible scenario escape me in all this reality?
Thanks a lot for reading me, now I read them in the comments.
I authorize the use of this banner to everyone who wants to do it.
 |  |  |
|---|
@tipu curate 4
Upvoted 👌 (Mana: 56/112) Liquid rewards.
I think we are witnessing the first steps of mainstream adoption of crypto. A lot of players start to invest in btc because it's the only thing that they know about crypto. BTC is paving the way and with time, mainstream will discover also other crypto currencies that have real use cases like Hive. I think it's positive even if at the moment it doesn't affect the price of Hive yet.
This is a good approach, the intention is to bring more people into the crypto environment, and after they are here, they can see that there is much more than BTC. I hope that's the way to further adoption. Thank you very much for commenting.
Certainly it is a difficult situation, perhaps the collapse of the price is precisely the fear of legal proceedings and the consequences it has, but if there is reason to believe that the project will succeed, perhaps it is better to wait until the waters calm down to decide, I think it will depend on whether you want to wait or prefer to get out recovering some of the investment.
YES @emiliomoron
It's really a bit of a confusing situation. But I will be passive for the moment. In the last few hours it has been able to increase its value, in case it reaches the price I bought, I'd better sell so I don't go at a loss.
Hi @josevas217 - XRP has been a bit of a rollercoaster recently. First, as you witnessed, there was a big increase in price, partly driven by the Spark fork that was going to result in an airdrop to XRP holders. I expect many bought XRP to take part in this event.
We then witnessed a double whammy when the Spark event ended and the SEC case got filed. The price has plummeted. I do think the SEC case against Ripple is strong because unlike Bitcoin and Ethereum that are decentralised, XRP isn't and Ripple funded their business out the of the sale of XRP tokens. It is going to be a very interesting case to see what happens next. Personally, I have never been a great believer in XRP, even though there is a potential great use-case, the use doesn't necessarily drive up the price and the main benefactors have always been Ripple. I would always back a decentralised crypto currency.
This is interesting. I had not really studied RIPPLE very well, but certainly, there is some centralization in it, and already that breaks with one of the basic characteristics of cryptocurrencies.
Thanks for commenting.
It is the reason why you find there is a love/hate with XRP. Many cryptocurrency enthusiasts don't support XRP because it is not really decentralised and Ripple are making money out of releasing tokens.
what i can say is that you are really in a tight situation, we do have that kind of decision of selling when the coin we invest in shoot up a little like when it reach 0.7$ and you couldnt sell hoping it might go up more. if it wasnt about the sec news, xrp might have reach 0.9$ or even more. in this kind of situation to me, i will leave the xrp because ripple might win the case and there is probability the coin will shoot up more.
really a hard decision to make, you might hold and it keep dipping or sell and it shoot up while you lose some of your investment
Yes, it's really a difficult decision, but, for now I'm going to stick with it. I'll wait at least to see if it comes to the price I bought and sell later, I prefer in this case to keep the capital, even if it's not much.
Hello friend @josevas217
I perfectly understand the difficult situation you are in, this phase of indecision, is one of the most frustrating when trading, and this happens in any temporality. Now, with the current BTC movement, it is much more difficult to make a favorable decision. If I were in your situation, I would look for a new movement to cut the losses as soon as possible, and enter again in a favorable range.
Hello @lupafilotaxia
I will really consider your advice. I've seen you pull Ripple out of some exchange houses. This legal battle may take a few months, and it is totally uncertain what could happen with this crypto.
I am sorry to hear about this, but i need to say that i am also in the same issue with XRP. I seem to be stucked, i can't seel, I have been waiting for price to pump, Well, i am of the believe that the price will pump again.
If i sell now i will loose about 20% of my own investment.
I can only hope that all gets better with XRP.
Yes, in the end we are left to wait and risk or decide whether to lose by selling.
I am sorry for this lock in your cryptos, but it seems that the world of cryptography is like this
I just hope it pumps
I say hold. the crypto sphere didn't survive this long for ripples nipples to get bitten off. I feel they'll sort out their shit...they always do