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3 hours ago, mark_round said:

Hi everyone, I've put my life savings into xrp , does anyone think we will come out of this bad time? , I'm already down thousands 

If you were not planning on selling in 2021 before we finally got something to force the timeline forward with the SEC... then I see no reason to change your mind, now that we know there will be regulatory clarity in the foreseeable future. 

Why did the SEC take so long?

Maybe the money center Banks, (Citi, JPM) who know they will ultimately be replaced by an IoV, and have lobbyists for and ex employees in the SEC desired to have the decision postponed as long as possible :yes3:

FYI, I was negative in deep red for a long time. It never bothered me because the excitement of what was being built was too distracting to be bothered.

Edited by KarmaCoverage
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5 hours ago, KarmaCoverage said:

If you were not planning on selling in 2021 before we finally got something to force the timeline forward with the SEC... then I see no reason to change your mind, now that we know there will be regulatory clarity in the foreseeable future. 

Why did the SEC take so long?

Maybe the money center Banks, (Citi, JPM) who know they will ultimately be replaced by an IoV, and have lobbyists for and ex employees in the SEC desired to have the decision postponed as long as possible :yes3:

FYI, I was negative in deep red for a long time. It never bothered me because the excitement of what was being built was too distracting to be bothered.

Cheers for the replies, I've held on and plan too hold for the long run, I've only been involved since August and have seen ot go up and down , sometimes a wee bit of reassurance as we say in Glasgow helps, I hope for us Ll it works out , nice 1

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Just now, mark_round said:

Cheers for the replies, I've held on and plan too hold for the long run, I've only been involved since August and have seen ot go up and down , sometimes a wee bit of reassurance as we say in Glasgow helps, I hope for us it works out , nice 1

 

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8 minutes ago, mark_round said:

Cheers for the replies, I've held on and plan too hold for the long run, I've only been involved since August and have seen ot go up and down , sometimes a wee bit of reassurance as we say in Glasgow helps, I hope for us Ll it works out , nice 1

I think XRP prices right now are like the the stockmarket back in March. There is a lot of FUD, but if you look at this, it will ultimately give clarity, may result in a escrow burn, and give XRP access to both crypto exchanges at bigger markets like the CME in the US.

The reason I say this, is that I've firstly spoken with a close US colleague who knows about these things and secondly I think damaging Ripple/XRP would be akin to surrendering to China with their gangster BTC.

Edited by Mikhail_Liebenstein
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5 hours ago, mark_round said:

Hi everyone, I've put my life savings into xrp , does anyone think we will come out of this bad time? , I'm already down thousands 

It’s a difficult one to answer and also depends on your personal circumstances. I guess you was in this for the long haul, and as such had a target price in mind, hopefully not a ridiculous $589 mind. 
The market reacts very emotionally as can be seen by the massive sways in price at the drop of a hat, and I believe we will come out the other side of this crash stronger than before, but that’s easy for me to say as I’m still in the green. I guess if you’ve seen it through this far without selling then you may as well hold on and see what happens. I personally don’t see XRP or Ripple disappearing as to much money and to many big players are to heavily involved. The only downside I see is it will take longer to realise the prices you may need to cash out. 
It’s always hard to not click that sell button when it falls, but only you can make that call. Can you afford to cash out now with the loss you have but still have enough and not worry about it sinking lower or can you afford to loose it all but there be a chance it can go up, and go much higher, simply impossible to say without regulation, one thing for certain though is this case will decide the future of all crypto moving forward 👌

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10 hours ago, mark_round said:

Hi everyone, I've put my life savings into xrp , does anyone think we will come out of this bad time? , I'm already down thousands 

Hi Mark, this all depends on your circumstances. It is tough to look at the price everyday and seeing all the negativity surrounding XRP...  My guess is once this SEC lawsuit is over, the price will skyrocket.  This is all a gamble though...  You have so much to gain from a risk/reward standpoint...  Yes the risk is that your life savings will go down to 0, but you have a huge reward where xrp will go 50x....  But I play poker and sports bet, and what I learned over the years is to never bet $$ I am not willing to lose.  It is all about "bankroll management". Best of luck with whatever decision you do.

 

Are you a young guy and can grind/work your savings back?  

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14 hours ago, mark_round said:

Hi everyone, I've put my life savings into xrp , does anyone think we will come out of this bad time? , I'm already down thousands 

Depending if you really expect to have life savings I'd seriously suggest to reduce your risk. Yes perhaps you're down thousands. But you can perhaps go down many more thousands. I can't tell if those thousands is 1% of your life savings or 90%.

Do not get in the trap of thinking you'll make it back when XRP hit *insertmagicalnumber* and that you only really lost your money when you sell. XRP might go very steeply up if all of a sudden Santa comes back and this case falls in their favor, or down. If this is going to be a trial be sure this will take long and in the mean time XRP price likely to go down (utility is down from 6-7 million $ daily to 1 million $ daily, but nobody seems to pick up that fact).

Perhaps reduce your holdings so you don't have to worry about it. XRP going down will give you a lot of stress.

Edited by SquaryBone
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1 hour ago, SquaryBone said:

Depending if you really expect to have life savings I'd seriously suggest to reduce your risk. Yes perhaps you're down thousands. But you can perhaps go down many more thousands. I can't tell if those thousands is 1% of your life savings or 90%.

Do not get in the trap of thinking you'll make it back when XRP hit *insertmagicalnumber* and that you only really lost your money when you sell. XRP might go very steeply up if all of a sudden Santa comes back and this case falls in their favor, or down. If this is going to be a trial be sure this will take long and in the mean time XRP price likely to go down (utility is down from 6-7 million $ daily to 1 million $ daily, but nobody seems to pick up that fact).

Perhaps reduce your holdings so you don't have to worry about it. XRP going down will give you a lot of stress.

Although I agree with most of your text I disagree regarding the decrease in ODL volumes (it is indisputable that they have fallen to a minimum). That decline, in my opinion, is not due to any technical / infrastructure problem / whatever you want to call it, they are just due in large part to this SEC drama (I think Ripple knew well in advance that this situation was inevitable and they acted accordingly months ago), you know, exchanges deviating (temporarily?), Explosive revelations of praxis followed by the CEO and Co-founder, the "FUD" (in this case with reason) continuous from much of the cryptographic sphere, the fear of possible sanctions by their "partners" or affiliates .. ...etc.

Surely if one day regulatory clarity is reached and it is friendly with Ripple (and its technology continues to do what it theoretically does, reduce costs) those volumes should increase again.

Edited by Gazelle77
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8 minutes ago, Gazelle77 said:

That decline, in my opinion, is not due to any technical / infrastructure problem / whatever you want to call it, they are just due in large part to this SEC drama (I think Ripple knew well in advance that this situation was inevitable and they acted accordingly months ago), you know, exchanges deviating (temporarily?), Explosive revelations of praxis followed by the CEO and Co-founder, the "FUD" (in this case with reason) continuous from much of the cryptographic sphere, the fear of possible sanctions by their "partners" or affiliates .. ...etc.

That decline is very likely due to the SEC drama. However I've been following that volume for quite some time and the increase in volume is not exactly something to brag about. I believe at some point I saw an increase by 100 000 per day week over week (so monday week 1 vs monday vs week 2). EDIT: it some time ago, can't recall the details and annoyingly utility-scan doesn't go back that far (back then I was following the trend weekly).  

Also that volume might be down for years due to this drama and eventually make companies go to "alternatives". That doesn't make the serious price decrease ok.

Edited by SquaryBone
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