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Sold My XRP Today - Here is why


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On 1/4/2018 at 9:56 PM, WhiteGuyInThailand said:

Watch this prediction below come true. Pro traders in San Francisco are the real deal and it’s true, they’re rarely wrong. My close friend that used to work at Peter Theil’s Clarium Capital and that is friends with people inside of Ripple Labs verified that what these guys are discussing below is likely accurate. Friend inside of Ripple Labs told my friends and I to buy on Dec 2nd and hold for 6 months because things were about to get berzerk. I bought $100k Ripple on Dec 2nd for 25cents. The tip was accurate. Ripple popped shortly thereafter. Ripple will likely go north of $100 in 9 months. The time to sell is when Ripple hits $100. Not $3.00 lol. A joke.

“I am a professional trader, and work for a large investment bank. I've seen a lot of posts on this subject and I see many of people trying to use economics and fundamentals as their guide. Making sense of it all. When you are in a hot speculative market like this, you can throw all economics and fundamentals out the window. They mean absolutely nothing until the speculators are done. I was around for the internet bubble where the market cap reached at least 3 trillion in less than a year, for companies that did absolutely nothing, on just the US stock exchanges alone, with very few relative participants. Since this is a global market, lightly regulated, and technology makes it easier for anyone to open an account and participate, we're not even close to being done with this speculation. I guarantee it. There is very little relative participation in this market right now. The only way to read a speculative market like this is technically via charts. The price action and volume on the charts tells us exactly what the crowds are thinking and what is going to happen to the price. Investment banks, like the one I work for, bring in the technical traders first to make money and build positions. Then, later on, they bring in their economists to make sense of it all. With that being said, Ripple is as bullish as they come. It is displaying the price action of a parabolic price run in it's first phase. That means there are 4-5 more phases to go. We've seen it dozens of times and yes it's a real thing. In addition, it is displaying major strength when other charts like bitcoin are pulling back and taking a break. This relative strength tells us that Ripple is where money is moving and will go higher. Much higher. Just wait until the other large investment banks around the world start participating with real buying power and rush to get in on the action. As soon as Ripple moves above $1.3 XRP/USD on heavy volume it will move to $9 based on our proprietary charting. That will happen in the next 0-3 months. Then it will consolidate for a few weeks or months and will easily move above $100 within 6 months. Our charting doesn't go out any farther than that, so watch for another post from me in a few months. I will say that once it hits that level, buyer beware, because it can come down much harder and faster than it goes up! After this first major price move, I would then start listening to the economists and analysts, looking at market cap, and other fundamentals. If they say that ripple can't stay over $100, then they are probably right, and I would listen to them for the long term buy and hold decisions. But for the short term, like this, $100 is very likely and we are rarely wrong. Good luck! By the way, I don't own ripple, I'm not allowed to own it due to my job.”

"Hey DDC. You're right on the money. I'm a pro at Evercore. Sounds like your company uses similar technology as mine. We basically use a large data set linked to similar market moves (dot com, futures, oil, gold, etc). We then compare market data, indicators and have a charting overlay that allows us to compare this market to markets / charts that are historically very similar. If this isn't the spittin image of dot com I don't know what is. So we base our charting on 13 indicators that align and then run an overlay, giving more weight to the charts that have the closest match to this. We've also added algos to modify our system as we go, so it helps us be a little more accurate on the shorter term trades. Our XRP/USD charting sounds a little different from yours. We have a $5 target 0-1 month, $20 2-3, and $280 3-9 month. Not too far off. Good call on the $1.3 breakout. We saw that coming too and luckily were able to get in under $1. The XRP is almost too easy to predict it's scary. This is first time in 7 years that our company authorized full margin for all traders on this. It's crazy. We have over 30 traders working 24-7 on this one. Keep up the good work, message me if you can and let me know where you work (if this site allows that and if you can say).

“Hey Jaden, I'll try and message u on this site. I don't want to give out my email on this public post. Yes, sounds like our systems are very similar and thanks for the insight. I'll be interested to see what ultimate price we end up at. Trading volume is drying up due to the new year, so I'm going to try and get some sleep the next couple days before things heat up! lol”

“HAHA.. ya I hear you. We have cots set up on our trading floor and traders sleeping there. We haven't done that in awhile. I'll be glad when we hit our price targets and can take a vacation. Trading volume is light right now so hopefully I can enjoy new years eve. Next week is going to be nuts, when everybody get's back to work. So do you have all of your main position or are you still building? We have most of our major position and have another group just short term trading. Happy new year man! Oh Zander I saw your post. I'm not sure I can help you much. We're pros so we can't really give advice just insight. I would stay away from automated trading, and take the time to learn to trade. That's the only way. Good luck!
 Agree”

"Yes, we're still building our position. This is the first crypto we've been able to trade. Bitcoin and Ether both have too little liquidity for us. We are buying massive amounts, so XRP/USD is the first we can safely trade. We've still buying on most pull backs right now, trying to get our main position build before next week. Then we will pyramid up from there. We also have a short term trading team that just deals with the daily / weekly swings too. Hopefully we can finish building our position without bumping the price up. Come next week we are going to see some serious jumps and it will be too late then. One of the banks we own has been trying to get a meeting set up with Ripple and they are like a month out because so many banks and companies want in on the action. And this is a pretty good sized bank in the US. Apparently they take all of the really big fish first, so everyone else gets pushed back. That tells you something right there. I know for a fact that BNP Par and Mitsubishi Fin are meeting with them this week. Great advice for Zander. I don't have anything more to add to what you said to him.”

 

 

Which is it, sell at $100 or at $280?  For some of us that's quite a spread in realized wealth, the difference between being set for our lives or just having a little more financial security.

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Good luck! If you don't believe in the asset then selling is the right move. You have to do your own research and make a decision you can live with. Looks like you made a nice profit so kudos. One que

So this will be a very unpopular post and I already know I will get some hate comments but it is what it is. I bought into ripple at .50 and sold today at 2.70 on Binance. I have been concerned about

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Well you made some money.  No doubt about it and that's more than many of us hodlers can say right now.  I do think you are underestimating the position Ripple Labs has over blockchain tech and the global financial markets.  I also don't believe XRP as a utility token should or really can be held to the same standards of valuation that securities are held to today.  Many people will debate this over the next several years, but the fact of the matter is blockchain is here to stay and there are few...very few actual organized companies with the hype behind them like Ripple.  I think that's worth it least a speculative investment beyond a 4 week period where you managed to turn a nice short term profit.

But either way...best of luck to whatever you choose to invest in going forward.  Ripple might be one of the first to change it all, but it certainly won't be the last.

Cheers.

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On 1/4/2018 at 5:15 PM, CryptoMaster1000 said:

So this will be a very unpopular post and I already know I will get some hate comments but it is what it is. I bought into ripple at .50 and sold today at 2.70 on Binance. I have been concerned about the huge run up on speculation and feel that I sold at a good time, and if not I still did well on my investment.

So why did I sell?

  • XRP is way overvalued in my opinion. Technically 100 billion XRP exist due to XRP being pre-mined. In my opinion, pre-mined tokens should always be included in market cap calculations but for some reason everyone uses the 38 billion number that are "in circulation". This simply isn't accurate, 100 billion exist and they should be counted.
  • The overall supply even at 38 billion is MASSIVE. Basic supply and demand economics say this is a big problem.
  • The founders gave themselves BILLIONS of XRP on creation. Sorry but this is BS. Chris Larsen has 5.19 billion XRP and Jed has 5.13billion. This is a classic example of creating a currency and lining your pockets with free money that you created. This is no different than the fed printing billions of dollars and the executives pocketing billions because they printed it. I would understand if the company was super successful like google or apple but they are still in their infancy, this excessive compensation is ludacris.
  • Centralized control, Ripple the company holds like 60 billion XRP to do with as they please within the confounds of their escrow plans which are pretty lenient. Enough said.
  • Ripple vs XRP, I think ripple will succeed by selling their network/blockchain product but the banks don't really need the XRP tokens! Great they partnered with AMEX but AMEX has already mentioned they don't care about the token, they are only interested in the network.

I am pretty sure XRP will crash, it may go up to 20 dollars but it would be purely on speculation as I don't think the currency will be succesful. There are so many red flags with XRP it is not even funny. I enjoyed the ride up but know that the ride was all hype.

Spoken like a true noob. purchase price of .50 proves it. You shoulda did your research. 100Bn and 21Bn are the equal amounts because bitcoin is divisible. Also, its a small number when you realize xrp was not made for you or other retail hodlers, it was made for institutional use. You just sold out before the actual usage.

 

Good luck to you.

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Lol purchase price of .50. That absolutely defines you. Jumped in on the ride up and attempted a half-hearted research afterwards, in which you gobbled some FUD and come to the conclusion that you won't do anymore research because all those usecase-less digital asset (probably bitcoiners) trash talkers must be right! Hell, its was raining money on them a few months ago they must be right, talking about marketcaps and such.

And your 'red flags' prove it, because you couldn't possibly have an understanding of triple entry accounting applied to cryptography becoming a utilized value asset OR the plan laid out by Ripple, a predecessor of BTC, based on this post.

Hey, I'll take some more of those immovable infinitely forkable manipulated stores of wasted electricity too!

PS - We're all mad Jed gets a stake of the project he tried to destroy (so he could make a useless coin to host an ICO's because a year trial with a dying company doesnt quite cut it).. Although decentralization of RCL was his idea.

@CryptoMaster1000 God even your name is a joke

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Same here. I wish I hadn't bought more yesterday, would have gotten a lot more zerps today and I have reached my limits for what I want to spend now. If it goes back to 1, I will buy more to reduce my cost average, but I need to draw a line now. 

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