XRP Price Spikes to 3-Year High as Optimism Surges Over SEC Shakeup - Decrypt
As SEC Chair Gary Gensler prepares to exit, investors are flocking to XRP, an asset that’s been targeted under his leadership.
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Sci/Tech Official Bitcoin to infinity ♾️ thread
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Imagine thinking you lost out when Bitcoin is limited in supply(21 million) and hitting all time highs again. Meanwhile holding onto something that has 100 Billion supply and billions of it still held by the creators that are going to dump it on you.
Get out while you still have gains.
I read the post. Not sure what is unsatisfactory for you.
2nd question is a hypothetical question, not sure what answer you expected. I answered the best I can from my perspective. What’s the issue?
If you have a rebuttal then post one. If you take issue with something I said then tell me what it is.
Calling it a 3 year high because it hasn’t been this high in 3 years? That’s not a good thing😂XRP Price Spikes to 3-Year High as Optimism Surges Over SEC Shakeup - Decrypt
As SEC Chair Gary Gensler prepares to exit, investors are flocking to XRP, an asset that’s been targeted under his leadership.
Most people who own bitcoin are staunch bitcoin supporters who never exit their positions. They just continue to add. This drives the price up.
When there's a downward trend from folks selling, the weak are flushed out and it triggers a sell off.
In early May of 2021 it was at $58k. In late May of 2021 it was $35k. So in less than 30 days it lost 40%
It recovered back to the $60k level by Nov 2021, then folks cashed out for profit again and this time it fell to below $20k by the end of 2022.
So from Nov '21 to Nov '22 it lost 74%
So was that a bubble?
By March 2024 it recovered back to the mid $60k level, and just recently has rocketed to the level of sniffing $100k.
It's a fucking rollercoaster that right now happens to be going up.
One could argue that every time there is a sell off, the non-believers exit and the faithful remain - which should calcify its value. But there will always be a risk that a moonshot will be followed by a sharp fall from people taking profit.
Note - This doesn't really make it any different than any other stock out there. It behaves like a meme stonk.
But if you happen to have $100k just laying around, I would not suggest running out and buying a single bitcoin at this point.
Disclaimer: I was making the same call at $10k - so take what I say with a grain of salt.
I understand very little of it - but I do know that XRP has been in a fight with the SEC for a long time.
If those restraints are off - or will be - I would anticipate a continued climb.
The way it is distributed - half available to the public and half held back in reserves - probably keeps it from achieving anything close to bitcoin or even ETH - but it does have a fixed amount (or so I have read) and that does separate it from something like DOGE - which I look at as an actual meme stonk. (although I made a little bit just playing the rollercoaster game on that one too)
I'd be happy if XRP got to $10 and rewarded me with a nice 2000% profit.
But I'm not over-extended by any stretch - if it goes to $0 I don't really give a fuck.
I'll continue to read this thread in an attempt to understand bitcoin and might even jump in when the next pull back happens. But there's no fucking way I'm jumping on now.
Bro. The fixed amount is 100 Billion with almost half that originally owned by the founders and Ripple still holds a bunch.
And yeah the SEC cases against Ripple stalled price a little bit but that’s way after it bottomed for years. They are actively trying to market themselves to be a solution for countries to adopt a CBDC. Literal enemies of freedom worldwide.
I get it if it’s just a gamble but you could put a fraction of that in Bitcoin-even today and I can almost guarantee it would perform better over the next 5 years.
It doesn’t behave anything like a meme stock. Tell me one meme stock that’s grown in value on average 150% per year over 10 years. You won’t find one.
And prices crashing in ‘21 were because of fallout of a bunch of crypto ponzis like LUNA & FTX not people getting shaken out of positions like with stocks.
Yeah sure, some sold, but not the majority of Bitcoin holders.
Now with ETFs so far it’s been way less volatile and going up and to the right forever. Even if we have some draw downs, it’s basic math. It will return and surpass higher highs the more it gets adopted.
You also don’t have to buy a whole coin to still see appreciation in dollar value.
You can buy $10, $25, or $50 a week no matter the price and still have a decent stack on your way to a full Bitcoin over time. Buying more when it dips gives you a lower average cost basis and you will be better off for it in a few years.
My little brother stacked like a fiend over the last 4 years and is up and over 1 Bitcoin and he probably put in a total of like 15k/20k doing small weekly buys and a few bigger buys when it dipped over that time period. I think at 16K he sold an old car and bought half a Bitcoin.
It can be done. Just takes a little discipline like any savings plan.
He’s happy as fuck now and understands the whole cycle. He’ll keep stacking because he’s accruing more value in his Bitcoin position than his retirement account.
It can be done. Just takes a little discipline like any savings plan.
He’s happy as fuck now and understands the whole cycle. He’ll keep stacking because he’s accruing more value in his Bitcoin position than his retirement account.
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And down we go again…
I don't necessarily disagree with you, but I think it has room to run.
Up another 15% today
I'm up 223% all time.
I'll take some gains if it hits $5
Lol you’re up and still going to wait for $5?
I don’t get it.
All time high for XRP was a long time ago and it was very short lived at $2.70.
A lot of people are going to dump before that hits again.
Not saying it’s impossible to hit $5 but when I look at the chart, I don’t see it.
XRP army is pumping the shit out of this on TikTok right now. That’s means a dump is imminent.
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Why wait for it to crash?
Do you think it’s never going up over 100k?
Do you think it’s never going up over 100k?
Oh I'm sure a correction is coming. This thing has been a rocket since Ripple won their battle with the SEC.
Now it's at $2.32
I might take some gains out ahead of the correction and just play with the house money, but like I said before - I don't have much in XRP. But it is *checks price this morning* 345% more than when I started.
There's this investing theory I came up with. It's called "Buy low - Sell high". Write that down.
Historically speaking, I'd say we are looking at an immenent correction. Probably somewhere between the current level and the highs between 2021/2022. Quick vertical growth has always been followed by either a drawback or a plateau.
So since I think that, it would be foolish to jump in now. Best to wait for a dip to maximize growth.
And again I'll say this - I understand very little of this. I'm viewing it as a stock which I know it isn't. But many new investors are looking it as a stock as well, which means - to some degree - it will behave as a stock.
I hope you've made millions on it. And I hope you make millions more. For now I will cheer you on from the sidelines.
If you’re buying it to exchange it for dollars, that would make sense. That’s not what I’m doing because I don’t think that’s the smart play long term. Dollars lose value over time. I’m buying Bitcoin to do the opposite.
I want to get out of the ever weakening dollar so I can accumulate and use the better currency.
It’s a real simple heuristic for me:
If you think the dollar is going to get stronger, then buy more dollars.
If you think the dollar is going to get weaker, then buy more Bitcoin.
Not if you understand the concept of Dollar Cost Averaging.
I’m well in the green on my average cost per Bitcoin, even buying at higher prices.
I get that, you’ve made it clear. That’s why I’m trying to help you understand it better.
It’s not a stock. And assuming people will treat it like a stock is precisely why you shouldn’t. Because that gives you an edge on those that do. That make sense?
Stocks are controlled by an entity that can make changes. They can split, reverse split, dilute them etc.
That’s not something that can be done with Bitcoin. The supply is fixed. That makes a huge difference in price dynamics of the asset.
And on the other side of crypto assets, that’s precisely why I don’t waste much time with them. The occasional gamble is fine but when these things are controlled by entities that can do the same tyoe of things like dilute supply or pump & dump then they don’t necessarily hold their value without having any popular use cases.
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