I have invested $10K on ripple. Purchased all at around 0.89 now its roughly sitting at 3K.
Is there other people around that is going through the same pain.
Any suggestions or chances it will come back soon.
Cheers
My Investment in Ripple Crypto
Mentallysick on 04/01/2021 - 10:30
Last edited 04/01/2021 - 10:55 by 1 other user
Last edited 04/01/2021 - 10:55 by 1 other user
Comments
As others have mentioned, use it as a learning lesson that cryptocurrency is basically gambling and so you shouldn't put any serious money into it that you aren't willing to lose entirely.
Imagine being the idiot who bought Ripple several years back at 30c and for some reason decided against selling it when it topped $4 back in January 2018.
for some reason decided against selling it when it topped $4 back in January 2018
HODL
I invested 50 dollars in 2017 i dont have the heart to veiw it now.
Anyone think now would be a good time to buy light coin?
I read almost all comments here most of these people are having no idea what they are talking about.
Sell all your ripple and get out of it and invest it immediately in something thats going up and is on trend like ethereum.
Dont be a loser and leave the market. Stay and invest property you are going to get your money plus profit back.
Bitcoin is going to be 200,000$ by the end of this year mark my word.
Sell all your ripple and gamble some more on crypto, what could go wrong.
I will eat my own dick if BTC is $200K by the end of the year.
Ok, McAfee.
Glad someone got the reference.
I've put a reminder in my calendar for the 31st of December and will be back to laugh at you.
I know a guy who has millions of dollars invested only in XRP, I saw him just before Xmas when Ripple was doing well. He was bragging about how he was up about 6 million dollars, said he was "not going to sell it until it hits $30" (yeah right). Nek minnut…. I haven't spoken to him since, but I bet he's had a few sleepless nights.
before Christmas is actually good, it's around 20cent, now it's around 40cent, so he makes almost double
Best advice is to keep clear of crypto. Its just a massive bubble and provides no intrinsic value. Just a bunch of idiots pumping money into it and as soon as the big players cash in it will all go to shit just like last time and you will have to live will 1000x losses or more.
Had my taste last time this went down. Never again.Ended up investing 100k since 2018, needed to buy a house and my mortgage broker said I needed to have 20% to get approval ( which I found out wasn't true, could've easily gotten it on 15% ) so I sold it at a loss for 33k. I didn't want to sell because I believed it was going to go up. Few months later that particular coin Mooned and I would've had 8 Bitcoins worth $376,000 so you're not doing too badly lol.
I bought 3k of xrp for around $3 at the end of 2017 worth a few 100 now, but with time it it hurts less and less might as well keep holding
It is about to hit 0.263 which is the trendline from the covid crash in March 2020. It is still bullish as long as it stays above the trendline.
Buy more. Dollar cost averaging.
Buy into Dogecoin and forget the rest.
I purchased during ATH in Jan 2018 for around $3.7. ROOKIE move at that time.
But this is a game of patience , I bought a lot more when it went below 30 cents, this brought the average price to about 70 cents for me.
Sold all of them last month when XRP went over 70 cents and made some profit and said bye bye to XRP.
Didn't have patience to hold any longer and make 4x?
Cant believe how risk averse the majority of people are. The general sentiment to crypto is very negative in this thread. I guess these will be the ppl trying to chase a pump and complain that crypto is pure gambling. Its all about risk adjusted returns. Maximise that sharp ratio.
People don't like money and would rather work 5 to 9 + overtime to get from 0% to 5% pa.
It’s not backed by anything, it has no intrinsic value, movements make little sense, and anyone saying they are “investing” in it is making it up. It’s gambling.
Change my mind.
I think Dollar cost averaging might be your get out of jail.
For ripple all will depend on what the SEC do
Hey,
First of I felt you, I've been there done that. Secondly, no shilling here. Here is my story
I read about your crypto trading or lack there of in the forum. I used to do the same and got burn big time. Then I found these guys ( group of traders ) who very helpful as a community. Now Im on my way to make it back n more.
https://www.twitch.tv/markettraderstv <—- the first channel I came across after my big loss.
https://www.twitch.tv/tr4d3r10 <—- mainly for EU time, calmer environment, some Aussie on it too.
https://www.twitch.tv/muleskinner1 <—- he is a fountain of knowledge, too bad he isnt on that often. When he on he only allowed to give out so much ( even that enough for pleb like me to make a profit )Here is an example of a short on BTC https://clips.twitch.tv/AmusedExpensiveCheesecakeImGlitch.
I took a short exact same spot of that fib ( 0.618 ) http://prnt.sc/wi2w52, PT are 1.618, 2.618 and so on. Then move stoploss into profit n go to zzz.My other trades
http://prnt.sc/wi2wqa
http://prnt.sc/wi2w83
http://prnt.sc/wi2vsrWatch pewdiepie BITCONECT!!!!
10k is a lot but at mid 20's you can take it as a learning experience. Often by the time you're hearing about a risky investment off the grapevine, the money has already been made. Only invest what you can afford to lose and tailor your risk to that first and foremost.
All crypto is high risk, high possible reward Ponzi schemes. All of them as none of them are backed by anything or are government backed. That’s just the facts.
Crypto therefore goes up, down, dies, splits and is tested by laws, courts (like xrp is now) as well as the pubic domain of popular opinion!
Good luck… have fun and remember if you buy cheap now and it beats the lawsuit then the boom will make you kneel down & give thanks. Or you will catch a falling knife. But that’s the game!?!!?!??!
ripple is up 20% today
Wonder why, was there any news at all?
No news. It had a breakout from 0.263 which was the trend from March 2020. It's up by 35% from the time of the post below and this post.
https://www.ozbargain.com.au/comment/9919414/redirI was thinking to average down from my $3 entry when it was 80c before the court case, now its showing some life at 40c, might be last chance at these levels.
Does anybody know Is there any places you can buy physically at? Being Friday no chance my Bpay will clear into a exchange before the weekend
Sell and invest equally in BTC, ETH and VET.
Exit market after recovering loss.I will teach you an important lesson. Go to the chart of any assets you are interested. Set up the weekly or monthly chart, see what is the trend. If the trend is up (eg: see weekly chart for Apple, Microsoft) over a long period of time, BUY.
If the trend is going down (eg: see XRP, Westpac, etc) , SELL
Crypto is advanced gambling for plebs. Nothing more. Elon musk does a tweet on BTC and it goes up 20%, hehe he must have bought big beforehand.
If your going speculate on financial assets at least choose one with intrinsic value. Not random coins promoted on interwebs by dubious anecdotes from anonymous posters saying they are the next big thing.
If any Crypto goes big, it'll be a Chinese backed one as their next main target is destabilising USD as a reserve currency and have plenty of capital to create a solid one.
Elon musk does a tweet on BTC and it goes up 20%
You got the wrong token. LOL.
When you realise most asset prices aren't based on rational calculations but apes speculating you'll see the real killing to be made in CFDs ;).
Combined with long term value investing you'll have stable cashflow.
I totally agree but that Elon tweet was complete bull. The times dont match up at all lol,the tweet came something like 10 hours into a bull run iirc
Just become someone makes a meme about it doesn't mean its true
BTC is the lowest risk coin and the way to go if you wanna try your luck in crypto. I'm more referring to all the random coins people try to push online then all of a sudden crash. They work like pyramid schemes. People invested in them talk them up for a payout before the crash.
Yeh ,totally agree on that front. Just wanted to point out the Elon tweet thing isnt really real
@Talsek: Turned out true, Tesla invested 1.5bil in BTC in 2020 according to press release just this week. Lolll, how many memes turn out true.
People basing investment decsions over Elon's 5 word tweets doesn't seem that bad.
There cannot be winners without losers. Welcome to the real world, it's a wild ride.
Winning and losing is subjective.
You can certainly have all winners with no losers if everyone is happy with their outcomes.If you are happy to lose money let me be you best friend :)
Investing in crypto is risky. You should be prepared to lose your investment in its entirety - thus adjust any amounts accordingly.
Diversity is key - don’t invest disproportionately in crypto and not all in one coin (bitcoin being the exception).
10k is a small sum in the scheme of things. I would take the experience as a learning opportunity to improve investment knowledge (regarding crypto and in general) so this doesn’t happen again.
- Find people who do not know much about investing or crypto, and are gullible.
- Tell these people that Ripple will be valuable in the coming years, fiat currency will fail, countries and governments will fall back on crypto. Tell these people they should buy Ripple now because they could be billionaires in the future.
- Repeat steps 1 and 2 to enough people that the price rises.
- Sell for a profit.
This is how all crypto increases in value.
Stop supporting scams.
$0.897 now! Your call now
I sold @.8
Where is the OP, its at $0.94 right now :)
Bought $100 worth . Hopefully will hit $1USD after 4am today
I hope you bought when it hit 56c, not when it was 75c (USD of course)
Yeh made a bit of coin .
Just bought some FTM. Looking at the 24hr chart past day , good coin to pump and dump . See how i go
Good luck!
@easternculture: I haven't been buying DOGE but have been buying 3x leverage tokens for BULL/BEAR. It's 3x the fun ;)
Hello Lovely Fellas
Im your OP for this post.I have been kept into penalty box for a month since I had go with one of the ozbs regarding this post. People tried tried to go through my previous post, laughed over that i made a mistake being cpa, bla bla bla. But Look what happened now. I had been averaging my cost down and was able to average it down to 0.60 from 0.87.
Sold all of them on 1 feb XRP pump day at 0.94.
P.S People just need to calm down and no need to laugh at others no matter what background are they from, how intellect they are or how naive they are.
Just be kind to everyone.
Goodnight Fellas.
RIP
Amazing how Ozbargain is full of so many bargain hunters who are proud to skimp their dollars, but at the same time so many established investors with a $100k portfolio.
Did any of you end keeping your xrp long enough to be able to get the profits from the Ripple winning a part of the court case.
I didn't sell mine because I know it will go up even more and has the potential to pump to $5 or $10 a coin. This is realistic.
But a miracle would be for it to jump to $100 a coin or even $1000 a coin and we would all become rich.
Don't you gamble with after tax money and buy crypto with after taxmoney?
Selling crypto and recording a loss is if you get a gain. If you put money into other crypto and making more losses it isn't much different to going to the casino. But one day you'll strike it rich and then you have to find all those losses.