Is anyone else starting to become a bit excited?

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.

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.

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.

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.;)

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

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

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

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.

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?

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.