Trust Me, This Currency Was NEVER On My "Watchlist"

Well, that was the case until a month ago (8th of April 2017) when I decided to "give Ripple a try" by purchasing 16.76946858 XRP at the rate of 0.00002989 BTC per XRP (Which was not much by the way) on Bittrex after the speculations which had surrounded Ripple. There were articles here on Steemit and every time I visit CoinMarketCap, I'd witness constant growth, hence I decided to buy in. Yesterday, I had sold 7.96688742 XRP at a rate of 0.00007550 BTC per Ripple and it yielded 0.00060007 BTC. (The intention was to Break-even with some little profit on the side). Difference: +0.00009742BTC.

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Today, I decided to visit CoinMarketCap only to realise that Ripple had hit the moon. It being approx $0.19 (around R2.60 a coin) with a circulating supply of 37,955,579,225 XRP, it is seriously overpriced in my perspective. With that being the case, I sold the remaining 8.80258116 XRP at the rate of 0.00011701 BTC per XRP and it yielded 0.00102750 BTC. In total, the profit made is 0.00102750 BTC (Difference of Buy-in and Sell).

Personally, I feel that it had been already been overpriced when I bought in, but I wanted to leave the trade for a long term. Knowing that anything can happen in the market, that is why I had done what I have done - I made X2 the initial investment. If it was a premature move, I can live with such, but I really think that this is a moment where XRP holders will sell, before there is an addition of new supply, leading to a price drop.

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This is another Sthumacher Article. STEEM ON!!!

Cryptocurrency is my hobby. Don't be shy to comment/upvote/follow