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Is anyone else starting to become a bit excited?

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As per title, have we reached the bottom ?

Don't think we'll see the likes of $3200 ever again.

$5150 at time of posting.

Back in the mainstream media once more.

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Dohnjoe

BrandonBay86 wrote: »

Thinking of allocating 50% of my portfolio to XRP on this dip. Dyor.

One hell of a gamble, not one I'd touch

BrandonBay86

worded wrote: »

Brave and interesting move.
How much has it dropped?
When are you going to buy?

Well it’s down 54% in 7 days.

Have a large holding of Polka and BSV which I’m hoping to swap to XRP, which I think could take over ETH’s number 2 spot soon.

The SEC FUD is definitely over exaggerated as others have said.

Could be wrong so DYOR.

EagererBeaver

Lex Luthor wrote: »

all I'll say is TSLA was sued in 2018 by the SEC and everyone thought that was it for them
Look at them now

This is the sort of absolute waffle that gets thrown around the crypto space completely unchallenged.

A) incorrect - as pointed out above, it was Musk personally who was charged, not the company. Additionally, who thought "that was it for them"? Anyone? You?

completely and utterly irrelevant. In no way connected to the topic under discussion.

Dohnjoe

XRP: price-wise it's done relatively little in 3 years, a large portion of the crypto community is dead-set against it. It went mad in 2017 mainly due to the fact that it "looked cheap" to low-info investors. It could still do well in a stupid bull for that reason but it's lagging behind BTC, Eth (and others) by quite some way so far. People went a bit nuts when it did a 2x recently, but Eth has done 5x or 6x since March, and is still going.

I've had XRP a long time, the product is alright, but the token itself has no reason to exist on the secondary market (like many "tokens" unfortunately), so I think the SEC has a good case, which could drag and cause XRP to miss a potential upcoming bull. Nah, not one I'd gamble on right now, but who knows, irrational market and all that.

Lex Luthor

BrandonBay86 wrote: »

Thinking of allocating 50% of my portfolio to XRP on this dip. Dyor.

its a big proportion, if you're wrong then your portfolio takes a big hit

I'd be inclined to go a little easier , maybe 10-15%

unless you have spare cash on the side

I'd be keeping the DOT, not so much on BSV

Bob24

Dohnjoe wrote: »

I've had XRP a long time, the product is alright, but the token itself has no reason to exist on the secondary market (like many "tokens" unfortunately), so I think the SEC has a good case, which could drag and cause XRP to miss a potential upcoming bull. Nah, not one I'd gamble on right now, but who knows, irrational market and all that.

Pretty much my thoughts as well.

There is no product in Ripple’s offering which needs XRP. I haven’t caught up with the latest names, but what was called xCurrent doesn’t use XRP at all, and what was called xRapid does leverage XRP but technically it could migrate to another token with similar functionality (and other options do exist).

Basically what gives XRP utility is its usage as a liquidity source within xRapid. And the reason Ripple are choosing XRP over other options is that it is their own crypto and they own a huge chunk of it, part of which they are regularly selling as a way to get “free” funding to run the company (so the fact that they own a lot of it is what gives Ripple a huge incentive to keep XRP alive by using it within one of their products, more than any real technical advantage over other similar options).

Until the SEC lawsuit came to the picture it was a fine business model.

But while not dead yet, this model is now at risk. There is a real possibility that at some point Ripple decides to dump XRP because of the legal risk. And while it would be a huge blow to them, the company could possibly keep running and be successful after doing this. XRP holders however ... not as much successful in that scenario.

BrandonBay86

“Given the SEC’s recent action against Ripple, all XRP books have been moved to limit only and Coinbase plans to fully suspend trading in XRP on Tuesday, January 19, 2021, at 10 AM PST. Afterwards, users will continue to retain access to their XRP funds.”

makeorbrake

Dnxncofiruwvx wrote: »

Definitely hold on, I’d say with a high degree of certainty that each of those 4 coins will be worth more in 6 months than they are now. Prices have been rising steadily (maybe exponentially) for the past 6 months, and if you listen to the voices in the space the cycle is only just picking up.

I understand that we can all get enthusiastic but even if Satoshi him/her/itself expressed a 'high degree of certainty' about anything in the space right now that would be out of bounds.;)

unkel

Reminds me of Dollar Bill in Billions: "I am not uncertain"

Dnxncofiruwvx

BrandonBay86 wrote: »

“Given the SEC’s recent action against Ripple, all XRP books have been moved to limit only and Coinbase plans to fully suspend trading in XRP on Tuesday, January 19, 2021, at 10 AM PST. Afterwards, users will continue to retain access to their XRP funds.”

Yikes, looks like are things are going to get worse before they get better for XRP. Crypto is a game of risk/reward, personally I think the upside is there on other major caps, without the same downside.

For anyone saying they’ll be fine, a project I was in on (Enigma), got dragged over the coals by the SEC just this year. Massive fine, funds returned to ICO investors, and the coin was wound up and formed into another coin (SCRT). Comparisons to Tesla and XRP are pointless, comparisons to other crypto projects are not, and the SEC has shown form for taking a heavy line.

Dnxncofiruwvx

makeorbrake wrote: »

I understand that we can all get enthusiastic but even if Satoshi him/her/itself expressed a 'high degree of certainty' about anything in the space right now that would be out of bounds.;)

Maybe a high degree of certainty is over reaching, but plenty more reasons to be optimistic than pessimistic at the moment? Things are on an upward trajectory on the back of a stream of good news and solid fundamentals.

Dohnjoe

A wider bunch of alts seem to be finally perking up, and have just moved faster than BTC/Eth

Bob24

XRP is getting rather close to losing its spot as one of the top 3 cryptos by market cap (excluding stablecoins), which it has been holding for a long time. LTC is pretty close and BCH is getting within range.

I am not sure everyone is seeing this coming and this could push the bearish sentiment even more if it happens and when people realise it.

seannash

Dnxncofiruwvx wrote: »

Yikes, looks like are things are going to get worse before they get better for XRP. Crypto is a game of risk/reward, personally I think the upside is there on other major caps, without the same downside.

For anyone saying they’ll be fine, a project I was in on (Enigma), got dragged over the coals by the SEC just this year. Massive fine, funds returned to ICO investors, and the coin was wound up and formed into another coin (SCRT). Comparisons to Tesla and XRP are pointless, comparisons to other crypto projects are not, and the SEC has shown form for taking a heavy line.

Happened with shipchain as well I believe

LedgerSuck

grindle wrote: »

It's dropped by over 50% (ten billion wiped off the market cap) based on a fine that will be a few million.

Stupidest market move in many years.

You're speaking with absolute certainty as if you know for sure, which is a really silly thing to do when it comes to cryptos. Nobody knows for sure how it's going to play out, and how long it could take. This could take 2-3+ years

And this isn't taking into account the fact that XRP and the company behind it are just **** anyway. Anyone putting money into it right now when it's plummetting instead of waiting to see how things go is a moron, plenty of other options to make some returns on in the meantime

LedgerSuck

Dohnjoe wrote: »

XRP: price-wise it's done relatively little in 3 years, a large portion of the crypto community is dead-set against it. It went mad in 2017 mainly due to the fact that it "looked cheap" to low-info investors. It could still do well in a stupid bull for that reason but it's lagging behind BTC, Eth (and others) by quite some way so far. People went a bit nuts when it did a 2x recently, but Eth has done 5x or 6x since March, and is still going.

I've had XRP a long time, the product is alright, but the token itself has no reason to exist on the secondary market (like many "tokens" unfortunately), so I think the SEC has a good case, which could drag and cause XRP to miss a potential upcoming bull. Nah, not one I'd gamble on right now, but who knows, irrational market and all that.

Spot on. Trading of it is being suspended on a lot of exchanges, and the more that happens the more likely it is to miss the potential dumb retail driven 'cheap alts' bullrun. A lot, if not most, alts will probably get decent returns purely based off of that, the exact same as in 2017, but if XRP trading is suspended on the main, easily accessible exchanges then it's going to miss out on that unless the case with SEC is done and dusted within a few months

RoboRat

I'm cashing out 50% of my btc and eth and selling all my alts.
I'm not getting out of crypto but i feel it's a good time to sell and see if there is a bear market... if the market drops, I'll buy back, if it increases, I've taken back my investment so I'm not out of pocket plus i still have 50% off my btc/eth.
I think a lot of my alt choices were punts and i know a lot more about the market and coins now.
I had some xrp, iota, ada, zil, vet, trx, xlm. I'm leaning towards just buying back ada, zil and theta along with more eth/ btc if the price is right. I liked iota but i feel they have gone backwards.

Bob24

BrandonBay86 wrote: »

“Given the SEC’s recent action against Ripple, all XRP books have been moved to limit only and Coinbase plans to fully suspend trading in XRP on Tuesday, January 19, 2021, at 10 AM PST. Afterwards, users will continue to retain access to their XRP funds.”

CDC are also delisting XRP (for US customers only): https://blog.crypto.com/xrp-delisting-from-the-crypto-com-app-in-the-u-s/

A few more major exchanges doing the same, and the liquidity/market cap could be severely impacted.

banie01

Bob24 wrote: »

CDC are also delisting XRP (for US customers only): https://blog.crypto.com/xrp-delisting-from-the-crypto-com-app-in-the-u-s/

A few more major exchanges doing the same, and the liquidity/market cap could be severely impacted.

Not gonna lie, surprised to see exchanges so quick to move.
The liquidity crunch is going to be rough until the SEC get a judge to make a final call.

I did very well off xrp in 2018 and again last week, but very glad I dumped the bag when I did.

Lex Luthor

afaik its only exchanges in the US that are suspending trading, any outside the US are still trading

rapul

According to coinmarketcap Litecoin has over taken Ripple

Gooey Looey

Putting 50% of my BTC into ETH for the short term

rapul

rapul wrote: »

According to coinmarketcap Litecoin has over taken Ripple

Short lived! Will be alot of swapping around for a bit

cnocbui

Bob24 wrote: »

CDC are also delisting XRP (for US customers only): https://blog.crypto.com/xrp-delisting-from-the-crypto-com-app-in-the-u-s/

A few more major exchanges doing the same, and the liquidity/market cap could be severely impacted.

The only CDC I am aware of is the Centers for Disease Control and Prevention. Is it really that bad?

Thargor

I really should sell some ETH before the incoming retrace but cant bring myself to do it this time.

deathbomber

Selling Eth? Selling alts, i would be selling enough to cover the initial investment. Now is the time 2021, to hold strong and reap the rewards. I dstrongly disagree with any negative opinions on the market, apart from xrp, which is risky now

deathbomber

Gooey Looey wrote: »

Putting 50% of my BTC into ETH for the short term

Yeah good move. It should fly, also think Dot is going to be huge. Liking Icon and Dash too, around a while and strong projects. But yes, eth big time, hold strong

Bob24

deathbomber wrote: »

Selling Eth? Selling alts, i would be selling enough to cover the initial investment. Now is the time 2021, to hold strong and reap the rewards. I dstrongly disagree with any negative opinions on the market, apart from xrp, which is risky now

Pretty much agree with the above.

I guess it depends on whether people think they are smart enough to time the market and take advantage of local bottoms (I don’t think I am so I stick with my long term outlook which is positive for 2021).

Some people are good at it though, and I respect that. But I also remember calls to offload at various levels since BTC passed 15k, some of which weren’t that prescient given where we are today.

Irish_rat

RoboRat wrote: »

just buying back ada, zil and theta along with more eth/ btc if the price is right.

Yeah those are the best in the crypto space have some dot too. Ada could have a massive 2021.

I'm not sure on link it's great use case but 70% owned by a few whales scares me a lot.

Lex Luthor

deathbomber wrote: »

apart from xrp, which is risky now

except to the few outsiders and weirdos