Getting rid of my XRP bag

in LeoFinance7 months ago

In 2017 I somehow acquired a bit of XRP.

Not an earth-shattering amount: 339 XRP (75 USD)

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Who can blame me, I was new in crypto and the hype was high.

There are a lot of believers in XRP who are not going to like me but I have to say that for me this does not make sense anymore and has not done so for a while:

  • too many tokens in the hands of the team
  • too much difference between Ripple and XPR
  • too much competition from the crypto space as a whole
  • upcoming CBDC competition from central banks takes a bite out of the use case

But I bought them at 0.22 and did not want to sell them when they were at 3.2 thinking I was going to be rich and after the crash, I did not want to sell at a loss and then kind of forgot about them.

In 2019 I opened my Celsius network account and I just decided to just put them in my celsius account on June 3rd 2019 when I saw that that option was available.

The outcome is actually amazing:

45.44 CEL (currently at 2.53) = 115 USD

339 x 0.54 USD = 183 USD

Total 298 USD on a 75 USD investment. That is 4x in 2 years.

My next plan is to put the 183 USD into Sushiswap as I think it will become a viable alternative to Uniswap but is still a bit undervalued due to all the stuff that happened with the Chef. But if I look at what they are doing behind the scenes I would hope they are in for a leg up as well.

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For me, these are all small alt plays that might pay out or might not but the DEFI craze is going for a 2nd run and Alts seem to be getting a small boost right now with ETH leading the way.

I am still looking for BTC and ETH (who are my main holdings) to go at least another 50% higher and go through 20k and 600 but do not mind having an alt play around once in a while.

How are you guys liking the small ALT season?

Any repositioning taking place in your portfolio?

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Any repositioning taking place in your portfolio?

Nope, still the same and it will probably stay that way for some more weeks.

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waiting for a bigger alt coin high?

definitely

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You know that there is a Flare airdrop for the XRP holders who signal. It is a smart contracts side chain for Ripple.

https://hive.blog/hive-167922/@bengy/spark-flare-blockchain-airdrop-for-ripple-xrp-holders

Hmm let me check that out! I've been looking to dump my XRP but may hold off a bit..

I've been waiting to get rid of my damn XRP for a long time! I bought some but then learned that the guy who's at the head of ripple or something like that was a jackass so I've been meaning to sell all of it. I'm debating if I sell it now or wait until there is potentially a much higher moon of the prices. I'm currently at a bit more than double what my entry was so that's great to see. x4 would be sweet!

why not sell half now, then at least you have your money back and let the rest ride a bit longer

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I am also selling those XRP here and there, I am keeping some just in case still ;-)

I just want to keep track, I have so many coins and I am moving more to things I personally believe in, instead of just the investing thesis

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I saw that XRP rise and sold 25% of what I've got - if only i'd have stumbled on Celcius a year ago, mine have just been sitting on the exchange doing nothing for all that time!

I've got so little in my 'bags' I may as well just wait and see to what happens to them - when I say little, I mean about 20 coins in the tens to hundreds, and then the big boys in the thousands, so it makes little difference selling anything even now!

I did buy some Redfox on your reco, some AVA, RUNE, BAT - that's all my alts really, I don't want to do a 2017 again!

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redfox must have gone up quite a bit for you already then right? 40 -50%?

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Hard to tell what's real - there's some pretty crazy price action going on!

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I agree on SushiSwap. I was thinking the same thing about it being over sold due to the drama and that long term it will get a chunk of the market.

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and at least it is something I like instead of xrp

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