Ripple update: My thoughts on XRP, Ripple, and price
I just wanted to post some thoughts here. Not necessarily to get opinions, but more just to get them off my chest. Hopefully this resonates with a few people out there.
Some background – I bought XRP way back in early 2017 at just over 1c. I’ve been in and out a fair bit, some gains, some epic losses (like right now having bought back in at 67c). After all the ups and down, my holdings are basically as if I bought back in early 2017 and just held (which is thought-provoking), so I can’t complain, the gains are still phenomenal.
Back then, just like now, I bought because I liked that they were working WITH banks, WITH regulation, WITH the system, not against it like Bitcoin and others. I figured banks aren’t going anywhere. The system isn’t going anywhere. So what better place to put your money then in a coin that works with that system.
Fast forward 18 months, and let’s face it, Ripple really do appear to be doing an amazing job. Look at India. By all accounts they have captured over 50% of the banking market. That’s got to be past the tipping point, so surely they’re just going to get bigger and bigger over there. India is a massive market, so that alone sounds incredibly good for Ripple the company.
Now I can hear the murmur from the crowd already, or at least from the vocal minority. Ripple ISN’T XRP. Who cares if Ripple is going well, that doesn’t mean shit for us bag holders. Well I disagree. We all know how much XRP Ripple holds – a boatload. Do you seriously think they don’t care about the price of XRP? C’mon please. There’s SO much money in it for them if the price of XRP increases. These are smart people, clearly, with the progress they’re making at Ripple HQ. I just fail to see how Ripple can continue to grow like this, and XRP price not eventually follow.
I’m not saying buy buy. Obviously if we knew XRP was going lower from here, we’d be crazy not to sell now and buy in again at that lower price. BUT WE DON’T KNOW. No one knows when the price will turn. No one knows the bottom, no one knows the top. Not in the short term, not in the long term. Not Ripple Execs. Not some random Reddit guy.
So what do you do? Do you sell now and risk this being the bottom, then you end up getting back in at a higher price? Do you buy more and risk it going lower still? Do you just hold tight, try not to concentrate on the price, and trust that Ripple’s continued successes and many other non-Ripple developments will lead to an increase in the value of XRP sometime down the road.
I don’t have the answers. All I can say is that the reasons I got into XRP last year still hold. My advice – if you want to hold onto your XRP for the longer term, then try not to focus too much on the current price. Don’t feed the volatility by trying to buy-sell-buy-sell every time the price changes. Maybe all that buying and selling will just get you back to where you started, but with a whole lot of extra stress in your life.
Do read about the continued adoption of XRP as the base currency for more exchanges – #xrpthebase #xrpthestandard ! Get your news from great sources like [https://xrpcommunity.blog/author/hodor/](https://xrpcommunity.blog/author/hodor/) and the recently added [https://xrp.media/](https://xrp.media/).
Chin up everyone. No one loves the current price action, but we all love XRP and what it stands for, that’s why we’re here.
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
Author: it-nerd
Score: 38
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