Lets get this out the way: My high risk account where I trade margin just got blown the heck out. Now it is my smallest account and nothing that I couldn't afford to lose, but it still feels bad man. With the macro environment in finance, with endless QE, stimulus checks, Modern Monetary Theory and all that I have little doubt XRP will go up. Investing in XRP is easy, trading it isn't.
I am not worried about the SEC stuff. Anyone who knows a damn thing about securities knows crypto isn't a security, which is a claim on a future source of income/revenue. Now, defi that pays you interest like COMP, that would be a security and so long as the exchanges pay their people then the future flow of income is secured. XRP is a token or a currency so the SEC can go pound sand.
I bought this dip on the way down and am waiting for XRP to get out of weak hands. Lots of people were expecting or hoping that XRPUSD would be on a flag pole and we should have been seeing another 40-60% pump. My margin account operated under that assumption but when I got the margin call it was clear I should not move any funds over and potentially lose more money. I thought the 100 EMA would be strong support and if it had done better job of holding I would still be in the game. Meh...
Likewise, I thought the trendline below would do a better job of holding but it didn't. Trendline is valid, Previous resistance is turned into support, but high risk margin account is BTFOd. Feels bad.
Since we have not achieved a moon shot I have to assume XRP is going somewhere else Of course, psycologically the best thing for XRP bulls right now would be a V shaped recovery. This would suggest that the weak hands over the flare airdrop were shaken out and XRP is in strong hands. But if we don' price action could chop sideways and even set a lower low with bullish divergence before an uptrend resumes. And we know that XRP runs later than BTC, and it does so more intensley. That is fine.
And finally, just so we are clear, I am not selling my investment XPR for anything less than $50. And if I get another day that is over 20% down I am buying that as well. Tomorrow if need be. Psychologically I need to get into something trending up, XMR, XBT, ETH all look good but I expect XBT to bring the bacon home in the long term.
My link post is a post where I was calling for a lower BTC price but got blown out on a pamp. And guess what? BTC bottomed out shortly thereafter. There is right, wrong and early and playing it with margin means that wrong and early hurt a lot, but if you are investing you have a lot more room to play with.
I am not worried about the SEC stuff. Anyone who knows a damn thing about securities knows crypto isn't a security, which is a claim on a future source of income/revenue. Now, defi that pays you interest like COMP, that would be a security and so long as the exchanges pay their people then the future flow of income is secured. XRP is a token or a currency so the SEC can go pound sand.
I bought this dip on the way down and am waiting for XRP to get out of weak hands. Lots of people were expecting or hoping that XRPUSD would be on a flag pole and we should have been seeing another 40-60% pump. My margin account operated under that assumption but when I got the margin call it was clear I should not move any funds over and potentially lose more money. I thought the 100 EMA would be strong support and if it had done better job of holding I would still be in the game. Meh...
Likewise, I thought the trendline below would do a better job of holding but it didn't. Trendline is valid, Previous resistance is turned into support, but high risk margin account is BTFOd. Feels bad.
Since we have not achieved a moon shot I have to assume XRP is going somewhere else Of course, psycologically the best thing for XRP bulls right now would be a V shaped recovery. This would suggest that the weak hands over the flare airdrop were shaken out and XRP is in strong hands. But if we don' price action could chop sideways and even set a lower low with bullish divergence before an uptrend resumes. And we know that XRP runs later than BTC, and it does so more intensley. That is fine.
And finally, just so we are clear, I am not selling my investment XPR for anything less than $50. And if I get another day that is over 20% down I am buying that as well. Tomorrow if need be. Psychologically I need to get into something trending up, XMR, XBT, ETH all look good but I expect XBT to bring the bacon home in the long term.
My link post is a post where I was calling for a lower BTC price but got blown out on a pamp. And guess what? BTC bottomed out shortly thereafter. There is right, wrong and early and playing it with margin means that wrong and early hurt a lot, but if you are investing you have a lot more room to play with.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
I'll continue to hold.