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Charting the course of XRP


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Some months ago I expressed doubts about Ripple. I was attacked by users stating that Ripple is a US company and falls under the US law and so it has some constraints and cannot lie.

Well, we see now where these constraints are. Beginning from the SEC waiting 8 years before suing Ripple.

I am not angry with those users:  I am adult and take my decisions alone. Nevertheless reality is that business tries to move in the grey zone among laws where more serious companies did not dare because they feared a legal reaction.

I still do not understand why BTC is going up, because maybe it is not centralized, but nevertheless it is also an empty box and must blow someday. And I think it will blow as soon as enough innocents have bought it at high price. So it is not better than xrp: a pure ponzi scheme.

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Personally, I am really destroyed. I have the feeling that the universe does not want me to prosper.

The SEC has had 7-8 years to bring this case to court, but it is coming right now. Why not 2018,2019,2020? Now that the 2021 bull run is starting, now that possibly bitcoin and the market itself will have one last bull run like this before regulators around the world stampede the market. 

We don't know if there will be another bull run after the 2021 bull run.

And that bullrun is exactly what may be destroyed for XRP by this case. That realization alone is absolutely sobering. I'm not concerned with losing money, I'm concerned with not winning despite being in the market early enough. 80% of my crypto portfolio, my beloved XRP, remains down and I see potentially the biggest financial opportunity in my life pass me by because of shit like this. Should I have diversified more? I'm sure I should have.

This is so incredibly sad. Now it's way too late to switch to another asset, the bull run has started, ETH, BTC and co should have been bought in late 2018.

I see my few ETH and BTC making a few percent, but rich so it changes my life, I won't get that way. 

If BTC is at 200k in October and XRP is between 20 and 30 cents (or below) I will cry. The first time since my grandma died 3 years ago.

 

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5 minutes ago, Elysium2030 said:

Personally, I am really destroyed. I have the feeling that the universe does not want me to prosper.

The SEC has had 7-8 years to bring this case to court, but it is coming right now. Why not 2018,2019,2020? Now that the 2021 bull run is starting, now that possibly bitcoin and the market itself will have one last bull run like this before regulators around the world stampede the market. 

We don't know if there will be another bull run after the 2021 bull run.

And that bullrun is exactly what may be destroyed for XRP by this case. That realization alone is absolutely sobering. I'm not concerned with losing money, I'm concerned with not winning despite being in the market early enough. 80% of my crypto portfolio, my beloved XRP, remains down and I see potentially the biggest financial opportunity in my life pass me by because of shit like this. Should I have diversified more? I'm sure I should have.

This is so incredibly sad. Now it's way too late to switch to another asset, the bull run has started, ETH, BTC and co should have been bought in late 2018.

I see my few ETH and BTC making a few percent, but rich so it changes my life, I won't get that way. 

If BTC is at 200k in October and XRP is between 20 and 30 cents (or below) I will cry. The first time since my grandma died 3 years ago.

 

I feel your pain my friend. I genuinely hope you're ok 

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1 hour ago, Troote said:

Buying cryptos has never been and will never be a guaranteed "winning lottery ticket". If that was (or still is) your expectation, you should clearly revisit it because it is not healthy. I get that it hurts, but be realistic. Very few people get rich in crypto, the ones that you see make millions with crypto are either frauds/liars or people that are already investing millions.

Also, I think you are over-reacting. I have 2 questions for you:

1. Why would XRP go to 0? Going to 0 means the ledger shutting down permanently, nobody at all buying. I see people fighting for XRP, like Coinbase taken to court and seeking to prove XRP is not a security or the very nascent XRP Ledger Foundation. I see people believing that Ripple will come out unscathed from this lawsuit who will be buying. I see traders who know that the resistance levels on the way up have been massively reduced, implying a pump would be explosive, who will be buying.

2. Why do you think that other cryptos are immune to the lawsuit that has impacted Ripple? If Ripple loses, Tether becomes a security. So does XLM, ETH and gazillions others, which could no longer be traded in the US.

I do not see a "realistic and likely" path forward where XRP can go to 0 without taking the entire market with it - but if you have one in mind, please do share.

Reading @Pablo on other threads, who is a lawyer specialising in this area of fintech law, this seems to be SEC's strategy.  Slay XRP in the issue of Investment Contracts being classified as securities and the whole crypto market is going to dance to your tune.  You don't even have to sue them, a phone call and they will agree your terms however belligerent and one sided.  If Ripple lose pretty much everything in crypto in America is illegal.  Even Kik and Kin can be revisited. 

This rally is probably safe, these cases take a lot of preparation, unless they start attacking Tether which is another fish brain nightmare scenario.

Edited by Julian_Williams
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7 minutes ago, MalluJohn said:

image.thumb.png.6420fec52bd8e990ea14f35ad97e1888.png

Many theories here were about the rich adding to their bags. Wondering what they are saying now... Is it now people moving all their XRPs out of exchanges!

I think this case has nudged a lot of people into putting crypto into cold storage as they don’t want to be at the mercy of exchanges changing their minds over night as to what they will or will not allow to be traded on that exchange. I think Coinbase will have made huge blunder in restricting access to trade XRP so early in the case and those exchanges like Uphold who have stood by the facts and will await the outcome, thereby looking after their clients in the process, will emerge as the go to exchanges when people want to trade. 

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1 hour ago, MalluJohn said:

image.thumb.png.6420fec52bd8e990ea14f35ad97e1888.png

Many theories here were about the rich adding to their bags. Wondering what they are saying now... Is it now people moving all their XRPs out of exchanges!

I'm not sure, but it just may be showing people exiting in general, both personal accounts and exchanges. 

If people were moving from exchanges back to cold storage, you'd see that distribution increase individual accounts i would think. This chart, may just show a massive exit. 

I don't know, and maybe someone with more knowledge can share their thoughts. 

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4 hours ago, Elysium2030 said:

Personally, I am really destroyed. I have the feeling that the universe does not want me to prosper.

The SEC has had 7-8 years to bring this case to court, but it is coming right now. Why not 2018,2019,2020? Now that the 2021 bull run is starting, now that possibly bitcoin and the market itself will have one last bull run like this before regulators around the world stampede the market. 

We don't know if there will be another bull run after the 2021 bull run.

And that bullrun is exactly what may be destroyed for XRP by this case. That realization alone is absolutely sobering. I'm not concerned with losing money, I'm concerned with not winning despite being in the market early enough. 80% of my crypto portfolio, my beloved XRP, remains down and I see potentially the biggest financial opportunity in my life pass me by because of shit like this. Should I have diversified more? I'm sure I should have.

This is so incredibly sad. Now it's way too late to switch to another asset, the bull run has started, ETH, BTC and co should have been bought in late 2018.

I see my few ETH and BTC making a few percent, but rich so it changes my life, I won't get that way. 

If BTC is at 200k in October and XRP is between 20 and 30 cents (or below) I will cry. The first time since my grandma died 3 years ago.

 

I feel your pain. Mentally this has been hard for me. It even has impacted my emotions. I don't feel like I have words of wisdom for you now, because I am in the same position as you. I will potentially lose thousands of dollars, and that really hurts, but I have to put things in perspective. 

This isn't over. XRP will continue on and I do not feel that Ripple will stop spearheading innovation. When I speculated on XRP, I never thought I was buying Ripple stock. I never thought Ripple owed me anything. I only thought they were one of the companies leading it's development for now. 

I personally don't know that it is completely over for XRP. I'm still in, and at this point, I will ride it through. 

It may be the gamble of my lifetime. 

If you have health, family, loved ones, stay strong my friend. You're grandmother in heaven loves you dearly, and this is not over for us. God speed and strength. You are not alone. 

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4 minutes ago, Cambridge said:

I feel your pain. Mentally this has been hard for me. It even has impacted my emotions. I don't feel like I have words of wisdom for you now, because I am in the same position as you. I will potentially lose thousands of dollars, and that really hurts, but I have to put things in perspective. 

This isn't over. XRP will continue on and I do not feel that Ripple will stop spearheading innovation. When I speculated on XRP, I never thought I was buying Ripple stock. I never thought Ripple owed me anything. I only thought they were one of the companies leading it's development for now. 

I personally don't know that it is completely over for XRP. I'm still in, and at this point, I will ride it through. 

It may be the gamble of my lifetime. 

If you have health, family, loved ones, stay strong my friend. You're grandmother in heaven loves you dearly, and this is not over for us. God speed and strength. You are not alone. 

You are not alone 

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25 minutes ago, Cambridge said:

I'm not sure, but it just may be showing people exiting in general, both personal accounts and exchanges. 

If people were moving from exchanges back to cold storage, you'd see that distribution increase individual accounts i would think. This chart, may just show a massive exit. 

I don't know, and maybe someone with more knowledge can share their thoughts. 

But exiting where too? Every sell is someone elses buy right, which has to be held in a wallet. Be it the exchange's or personal cold wallet. 

I don't get how all the charts can drop at the same time... Any math wizard that can explain the logic? 

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4 hours ago, Troote said:

Buying cryptos has never been and will never be a guaranteed "winning lottery ticket". If that was (or still is) your expectation, you should clearly revisit it because it is not healthy. I get that it hurts, but be realistic. Very few people get rich in crypto, the ones that you see make millions with crypto are either frauds/liars or people that are already investing millions.

Also, I think you are over-reacting. I have 2 questions for you:

1. Why would XRP go to 0? Going to 0 means the ledger shutting down permanently, nobody at all buying. I see people fighting for XRP, like Coinbase taken to court and seeking to prove XRP is not a security or the very nascent XRP Ledger Foundation. I see people believing that Ripple will come out unscathed from this lawsuit who will be buying. I see traders who know that the resistance levels on the way up have been massively reduced, implying a pump would be explosive, who will be buying.

2. Why do you think that other cryptos are immune to the lawsuit that has impacted Ripple? If Ripple loses, Tether becomes a security. So does XLM, ETH and gazillions others, which could no longer be traded in the US.

I do not see a "realistic and likely" path forward where XRP can go to 0 without taking the entire market with it - but if you have one in mind, please do share.

Maybe the US government wants to take the market to zero. Maybe banks want to take the market to zero. 

I can't believe that SEC operates for defending the investors, because it would not have waited 8 years.  SEC states that it has warned RippIe several times but Ripple did not react. I  know for personal experience in Europe that "the defence of the investors" is understood as defence of the state and defence of the state means the state must get the money (that is, eventually the investors are robbed by the state). Don't know if in the US it's the same, but when it concerns money I think that it's everywhere the same story. 

If xrp go to 0,001 then we can buy some and see if there will be any future. Maybe Ripple will be allowed to sell (like in the KIN case).

ANYWAY:  If we watch the KIK case, during the whole proceedings KIN was traded and even if it has been classified as security it is still traded and offered.  So let's see what happens in 2021 and then when it's over we will make a move.

04 June 2019 SEC Sues KIK

https://www.sec.gov/news/press-release/2019-87

21.Oct.2020 Final Judgment:

https://www.sec.gov/news/press-release/2020-262#:~:text=The Securities and Exchange Commission,violated the federal securities laws.

Issuers seeking to use the public markets to capitalize their businesses may not evade the registration requirements of the federal securities laws,” said Kristina Littman, Chief of the SEC Enforcement Division's Cyber Unit. “The court’s decision recognized that Kik was engaged in a single, illegal offering of securities.” 

The final judgment permanently enjoins Kik from violating the registration provisions of Sections 5(a) and 5(c) of the Securities Act of 1933.  Kik is further required, for the next three years, to provide notice to the Commission before engaging in enumerated future issuances, offers, sales, and transfers of digital assets.  Kik will also pay a $5 million penalty. 

The SEC is represented by Laura D’Allaird, David Mendel, and Stephan Schlegelmilch with assistance from Jeff Leasure, Brent Mitchell, and James Murtha of the Complex Financial Instruments Unit. 

image.thumb.png.d2695a5c214b106ce1dc67a3d6f83003.png

HOw much I have learned in the last days (though too late...)

Edited by JJJ2
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33 minutes ago, Caracappa said:

But exiting where too? Every sell is someone elses buy right, which has to be held in a wallet. Be it the exchange's or personal cold wallet. 

I don't get how all the charts can drop at the same time... Any math wizard that can explain the logic? 

That is a great point! Something doesn't add up...

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