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Too late to buy Ripple?

testmantestman Member Plus
I'd love to know your thoughts. I had Ripple back in the day, when they were giving a 1000 XRP for connecting your Facebook account to their network. I sold them as soon as I could during the bad times. Of course now I look stupid, but there was a time it looked like the coin would be worthless. ( I think you can see some of the old threads in this section)

Anyway, obviously now it's the #2 coin in the market and everyone is talking Ripple. Maybe I bought into the hype a bit, but everytime I head to Binance to buy some, I get a twitch that it's a bad idea. I think the coin is overvalued at the moment . Unlike Bitcoin, it was not intended to be a store of value, but a way to transact. A complement to Bitcoin not a replacement.

So on one hand I have fomo, but on the other, I know (or believe) the price is at a high. There is a central supply of Ripple right now, so nothing stops them from releasing more to cool the market. Am I crazy? Or are my fears irrational?
I am he as you are he as you are me, and we are all together. See how they run like pigs from a gun, see how they fly.

Comments

  • CoinGuyCoinGuy Administrator
    Those are some fair points, but consider this. Just because XRP wasn't intended to be a store of value, doesn't mean it can't be. We were there together for the initial fun of Ripple. Like you I saw it almost die.

    On a positive note, I don't think it's too late, but I am not sure how sustainable the current price is. If you have money to gamble, and fomo is bothering you, I'd buy a 120 or so XRP and forget about them. At least you have them in your portfolio and if you diversify enough, a loss of $400 should be offset by gains in the others :)
  • testmantestman Member Plus
    I bought some Ripples last night. Thanks for the above. I didn't have a chance to swing by to tell you.
    I am he as you are he as you are me, and we are all together. See how they run like pigs from a gun, see how they fly.
  • I think xrp will go lower unfortunately.It’s red everywhere.
  • CoinGuyCoinGuy Administrator
    edited January 2018
    You know crypto goes up, and crypto go down, and sometimes it goes up again too :p
  • @CoinGuy News coming from China and South korea banning crypto is discouraging but I think Crypto is here to stay. I agree that don't gamble if you are worried about losing it all.
  • Yep I talk too much sometimes.😂 xrp is up again. I’m in at $1.61 cad.Buy and hold.
  • Since OP was an early adopter of Ripple, you should know by now that it's the most hated coin in the crypto world by the pure decentralists. Ripple was created for big brother and will be used by them, basically the rich and powerful. And that's the whole reason why it has gone up so much.

    If you are a trader, you can ride the ups and downs and profit from it. At this point, 1.5ish is likely a good entry point. It could go a lot higher from there. Then again, who knows!
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