Why my thoughts on XRP looks bleak. The good, the bad and the ugly 🙂
#XRP had always been one of my favorite cryptocurrencies out there. In fact, during my journey to crypto, it's the second crypto I got to know about in late 2016 after Bitcoin. It was really low as at that time. I think it was around $0.0086. I didn't get to buy until much later. In this post, I'm going to explain why I'm selling a good % of my #XRP bag to other amazing projects out there and why I'm not selling everything🙂. Before I proceed, there's a disclaimer I need to declaim. This post is not a financial advise and I'm not a financial advisor, everything I post here are for fun and for educational purposes. I cannot tell you what you can and cannot do with your money. You know where to get financial advice, not here.
The Good
To be honest, I'll say I'm amazed and impressed with the performance of XRP in the last bull cycle despite the FUD and serious case with the SEC in court. With a low of around $0.14 in early 2020 before the court case, #XRP struggled to do a x12 (~$1.7) as a top in the bull market despite the FUD. Currently, it's still at the top 6 in terms of market capital 🙂. One can confidently say "Without the SEC law suit and the tons of FUD on #XRP, it would have at least doubled it's previous ATH at around $3.4😎
Also regarding the law suit. On Jan. 18, Ripple CEO Brad Garlinghouse spoke to CNBC at the WEF’s Davos conference. He said:
“We’re optimistic that this will certainly be resolved in 2023, and maybe [in] the first half. So we’ll see how it plays out from here. But I feel very good about where we are relative to the law and the facts.”
So by summer, we should be seeing positive vibes from the court.. Take it with a grain of salt tho😆. Looking at the charts, since almost everything follows #BTC, looking at the Hash Ribbon indicator #XRP also printed a blue 🔵 ball on the monthly which is very bullish. This why I left some and didn't sell everything.
The Bad
I'm gonna make it brief
This chart only scream one thing. Disaster on the long run. Why❓ It's a fact that any project that doesn't beat it's previous ATH in a bull market is going to die off pretty soon. I'm not saying those buying currently won't see any profit by 2025, I'm saying the whole thing depends on the outcome of the Law Suit. Even if it comes out bad, there's definitely gonna be some profits. Perhaps another test st $1.
The Ugly
Simply put... #XRP loses against The SEC in court. A lot of people will take out their money almost immediately, tanking the price far below 10 cents👀. It wouldn't matter if we're in a bull or bear market. There are many fantastic projects out here and more will be made in the future, so no chance.
Tell me what you think about #XRP in the comment section 🙂 and do have a terrific week. I'll catch you on the next one 🙂