Not anytime soon.
I’m investing in Bitcoin. – I’m gambling on Ripple.
Here’s a chart of XRP (Ripple) from its launch until today.
I bought some Ripple on Coinbase for $0.2246 – purely as a short-term gamble.
My Ripple is parked on Coinbase, where I can trade or send Ripple only until January 19, at which time Coinbase will suspend all Ripple transactions, except buying and selling.
I haven’t put big bucks into this gamble, and no matter what Ripple does it won’t affect me one way or the other. But, being a trader, I’d rather win than lose, so I’m looking around for the exit while I have a 50% profit.
What would you do in this situation?
Would you hold out for a rebound to the 60-cent level, or just take a quick gain and run?
I’m gambling on it too. I have some XRP stuck in my Revolut account and they are trying to force us to sell it at a loss due to delisting… Just hope it pops before they close the gate, otherwise it’s gone forever by the sound of it.
Lesson learnt - never buy crypto from an establishment with no external transfer facility!
It’s still early days to fold, in my opinion. Yes, you have Coinbase halting trading, which is a huge blow, but there have been previous rulings on what XRP is and isn’t, by US government agencies and even international governments.
I think Ripple just needs a good set of lawyers, which they’ll have, and their day in court, which still could be years away.
The other side of the fence - plenty of other places to put your hard earned coin. Less established options for sure, and just as volatile, but perhaps with a bigger upside and no present/future legal worries.
This won’t help. Just announced. Ex-Coinbase general counsel.
Hi Clint,
When XRP went north to more than double our buy price, my trading plan (as yet incomplete) said to either sell 1/4 of holdings for every doubling, or sell half of holdings and leave the remainder as a long term HODL. During the climb of XRP - leading up to the one to one freebie, I changed my mind and did NOT sell. With hindsight this has been recorded as one of my errors to be reviewed in three months time. On 29Dec20 I almost doubled my holding buying in again at $0.207, so my average buy price is now $0.215. I took a decision (and documented it) that when it reaches $0.52 I will sell all of it and buy BTC. This is consistent with my long term “investment” plan, and not with my shorter term “trading plan”, which were written separately and therefore have some conflicting goals that are separated by timeframe of consideration. This is based on historical ratio of price of XRP to BTC, and not on % increase of XRP. XRP is actually above our planned % holding, but considering we have more cash to inject than we have planned entry levels identified over six cryptos, I will stick to the sell all at $0.52 level. If it reaches $0.40 I will move it all to a single exchange and apply the sell limit order of $0.52. When I do this will depend, of course, on the ATR(14) which I watch weekly. I do need to learn how to set up automatic notifications, preferably in Coingecko. Spoilt for choice when it comes to consistent use of management tools for Crypto. I am a newbie Crypto trader.
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