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Advice regarding Coinbase and suspension of XRP Trading


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Hi all.

First time poster and long time Hodler. Was hoping to get some advice as to what to do with my XRP on Coinbase.

The majority of my XRP is on Coinbase and although not a large investment like most I was hoping to see a return at some point. 
 

What should I do before the 19th?

a) Withdraw xrp at 60% loss

b) Leave XRP in Coinbase until after SEC hearing

c) Trade at a loss

Also is there any way that I could lose access to my XRP on Coinbase?

Thank you in advance. Would be good to hear what others have/will do.

 

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Move to a different exchange? (Kraken?) Or to a hardware ledger/... I don't get what you mean with withdraw at 60% loss. 

First decide if you want to hold or not (how much risk are you taking on? all your savings?  ...) Then either sell at a loss (partially or fully) and/or move the coins out to either another exchange or hardware wallet.

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10 minutes ago, SquaryBone said:

Move to a different exchange? (Kraken?) Or to a hardware ledger/... I don't get what you mean with withdraw at 60% loss. 

First decide if you want to hold or not (how much risk are you taking on? all your savings?  ...) Then either sell at a loss (partially or fully) and/or move the coins out to either another exchange or hardware wallet.

he means that he has bought high(around 1$) thinking it will go further up.

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On 1/13/2021 at 5:37 AM, Khalel456 said:

Thank you for the replies. You’re right I brought too high and will lose 60% of my initial investment if I sell now.

Also isn’t their a possibility that other exchanges do the same to XRP?

I learn through my 11 years trading that never sell when you are in loss unless you really really need money. If you want to sell, wait until you are in profit.

If exchanges want to stop their US customers trading XRP, they already announce that in advance.

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