XRP is looking like a good movie...

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A month ago I wrote this post about selling my bag of xrp and my reasoning behind it.

https://leofinance.io/@felander/getting-rid-of-my-xrp-bag

Now it seems it was the right thing to do.

The SEC is suing Ripple and Ripple Labs.

Brad Garlinghouse is here trying to defend himself and his money grab.

It does not seem to help and it also seems that most people do not have the conviction of someone that has siphoned 600 million out of XRP in the last years. Most people seem to be dumping massively and losing faith. A lot of them were just in it for the trading and not for the fundamental faith in the token.

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But this is not only about the price dropping and potentially leaving regular people stranded but it is more about the whole longevity of the token as such.

Some small exchanges have started to delist XRP as they also might be at risk

Do you know who is at risk if XRP is considered a security? Every exchange that lists XRP

I personally like the remittance issue and money rails problem that Ripple labs is trying to solve but have not seen any shred of evidence that XRP the token is needed to do that. The SEC can go after Ripple because it is so centralised and BTC and ETH do not have CEO's that can be dragged in front of a judge.

https://www.sec.gov/litigation/complaints/2020/comp-pr2020-338.pdf

The SEC paper reads like a crime novel. In a few years, there will be a film made on this for sure. And I am fairly sure that Mr Garlinghouse will not come out in the end as "the good guy"

What is your stance on XRP?

  • Buy?
  • Sell?
  • HEELLLL NOOO?? Short it to the ground
  • XRP to 10 USD!! Long it to the moon

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Will the government more vigilant about other Cryptocurrencies due to XRP effect?

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If they do stuff that is blatantly illegal, I would say so.
But that is why we decentralise stuff so they cannot knock on the door and either sue or shut it down. There is no CEO in Hive or BTC

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I should have converted it all to a different one when it was double the value I paid for it lol. I at least made 5$ off it but still could have been better. I was hoping for it to moon but looks like that’s not gonna happen!

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well, the moon goes down in this case...
and if its just 5 USD it is not going to make that much difference I guess...

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What is your stance on XRP?

Toxic asset.

I've always had some, but nothing to write home over. I sold most of mine a couple of weeks ago when it went up, then the rest immediately after the spark airdrop time stamp. It didn't jump the price nearly as much as I hoped (still did well), so I figured I've been wasting my time with it.

I'm kinda sad to see it go completely as it wasn't really hurting anyone. There are definitely worse shitcoins to invest in.

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I do not mind it as stated but I do feel it should not be nr3 in the list. People were just buying XRP because 20000 usd for a bitcoin is too much and 0.3usd is cheap

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Will be happy to see it go to be honest as this looks like a centralized piece of nonsense for the few to enrich themselves. I wish many of the other coins that have been set up this way disappear as there is no future for them. I had Ripple a few years ago and made a small profit and that was when it was 54 cents or something and sold for 66 cents and never recovered from it's high of just over $2.70 if memory serves me right.

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yea, the high was about 3 usd, which was crazy but at that time all valuations were crazy

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(Edited)

I cashed most of mine in for AVA when it was up at a decent price before the Spark airdrop.

I did keep 200 back, maybe I should just dump that now?!?

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I sold mine, not going to buy any more. Some thing are just not worth it imo. And some alts can come back or you just like the project.
If you do not really have hope and don't like it? then why keep it?

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I just got rid of the rest yesterday as it happens! My PD should complete next couple of days so I'll send you that LEO I owe you as soon as!

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