Requesting a hand developing an exit strategy for XRP

[Bergkampsballs]

Hi,

I started accumulating some Bitcoin at the start of November which has gone really well and have been speaking to a friend who advised me that he thought that XRP was going to rocket, partly because there's a lot of people on Twitter who think it's going to rocket but also because they are running an airdrop of spark tokens which is due to take place on 12th December.

I decided to monitor the situation and noticed that XRP was starting to rise quite significantly so I jumped on board pumping about 35% of my Bitcoin into XRP. At present XRP has risen over 35% in 24 hours since I lumped on which has been really exciting as somebody new to investing in cryptocurrency. I realise that this is pretty much a fairy tale beginning.

The only problem is that I haven't had time to develop an exit strategy so I was wondering if you could advise me what you would do in this situation.

Despite such a large rise, I am assuming that XRP is likely to continue rising all the way up until the airdrop on 12th December when I would expect that it would come crashing down again but this is me talking from no experience whatsoever.

So I feel like I have a few options.

1) Cash out now and run.
2) Wait until a day or 2 before the airdrop on 12th December to cash out.
3) Hold out for the airdrop, take the tokens and try to cash out after

I'm thinking that option 2 is a stand out favourite at the moment, although I think option 1 could become a favourite at a later date if the price continues to rise too sharply? Option 3 would only be an option if the price steadies and doesn't raise much between now and the 12th December.

This is my first attempt at creating an exit strategy so I figure that I may as well use it as an attempt to learn and would really appreciate any advice that you may be able to offer.

[akirasendo17]

In my experience every time a coin has some airdrop, they significantly rise up since there are people who want to have the coin as a giveaway for holding it, the bad thing is that after the snapshot mostly the price will then go down, don't get me wrong but this is in my own experience, mostly 80-90% at a time this happens, if you are just there for-profit position yourself is the profit okay, or are you willing to take the risk and wait, remember that cryptocurrency is so volatile it can wife the value of your holding in one snap, I'm not saying that what you're going to do is wrong but for me you already made a profit, it will come down if you are willing to take the risk.

[abokhalel2]

I think this is another hype because of the spark. But I am an ordinary mortal and I can only guess what will happen next. Wait and see.

[pooya87]

have been speaking to a friend who advised me that he thought that XRP was going to rocket,

you should either break up with such friends or never take investment advice from them.

partly because there's a lot of people on Twitter who think it's going to rocket but also because they are running an airdrop of spark tokens which is due to take place on 12th December.

I decided to monitor the situation and noticed that XRP was starting to rise quite significantly so I jumped on board pumping about 35% of my Bitcoin into XRP. At present XRP has risen over 35% in 24 hours

these are all signs of the classic pump and dump that has been going on in altcoin market for ages. coins such as XRP have no usages and have no future. they are all here to be pumped and dumped from time to time to give a lot of profit to certain people before they get dumped again and go on their downward spiral. it is not just XRP either, literary every day there are at least 5 altcoins that are being pumped. the "popular" shitcoins such as XRP take a longer time to pump and dump but the less "popular" shitcoins are doing it much faster and in some cases a lot bigger.

since this is an airdrop hype-pump, it will most probably be like all the other hype-pumps. when the news comes out the pumping begins until very close to the airdrop time. it could be until 1 or 2 days before the airdrop or much closer like 6 hours. then it will have a sharp dump and a dead cat bounce before/during the airdrop with the major dumps coming afterwards as everyone sells and moves their profit to the next shitcoin to pump.

[Bergkampsballs]

have been speaking to a friend who advised me that he thought that XRP was going to rocket,

you should either break up with such friends or never take investment advice from them.

partly because there's a lot of people on Twitter who think it's going to rocket but also because they are running an airdrop of spark tokens which is due to take place on 12th December.

I decided to monitor the situation and noticed that XRP was starting to rise quite significantly so I jumped on board pumping about 35% of my Bitcoin into XRP. At present XRP has risen over 35% in 24 hours

these are all signs of the classic pump and dump that has been going on in altcoin market for ages. coins such as XRP have no usages and have no future. they are all here to be pumped and dumped from time to time to give a lot of profit to certain people before they get dumped again and go on their downward spiral. it is not just XRP either, literary every day there are at least 5 altcoins that are being pumped. the "popular" shitcoins such as XRP take a longer time to pump and dump but the less "popular" shitcoins are doing it much faster and in some cases a lot bigger.

since this is an airdrop hype-pump, it will most probably be like all the other hype-pumps. when the news comes out the pumping begins until very close to the airdrop time. it could be until 1 or 2 days before the airdrop or much closer like 6 hours. then it will have a sharp dump and a dead cat bounce before/during the airdrop with the major dumps coming afterwards as everyone sells and moves their profit to the next shitcoin to pump.

OK cool, thank you for the advice. From what I am understanding though, wouldn't that make option 2) the most sensible strategy? Surely all this pumping leading up to the airdrop would increase the price of your coins that you invested in early so that you can then get out 2 - 3 days before the airdrop and make a nice profit?

[Bergkampsballs]

In my experience every time a coin has some airdrop, they significantly rise up since there are people who want to have the coin as a giveaway for holding it, the bad thing is that after the snapshot mostly the price will then go down, don't get me wrong but this is in my own experience, mostly 80-90% at a time this happens, if you are just there for-profit position yourself is the profit okay, or are you willing to take the risk and wait, remember that cryptocurrency is so volatile it can wife the value of your holding in one snap, I'm not saying that what you're going to do is wrong but for me you already made a profit, it will come down if you are willing to take the risk.

Thank you, I was wondering, have you ever seen them crash long before the snapshot? It's just that XRP has risen so much already (over 50% in a few days) that I'm concerned that the crash could actually happen early?

[1miau]

Hi,

I started accumulating some Bitcoin at the start of November which has gone really well and have been speaking to a friend who advised me that he thought that XRP was going to rocket, partly because there's a lot of people on Twitter who think it's going to rocket but also because they are running an airdrop of spark tokens which is due to take place on 12th December.

I doubt that these Twitter accounts are real users, at least large parts of it are most likely fake accounts and run by Ripple Labs itself to shill XRP and deceive new users. Ripple Labs was exposed more than a year ago for running a very large number of fake accounts on Twitter to shill their useless shitcoin XRP: https://www.trustnodes.com/2019/03/16/massive-xrp-sentiment-shill-army-uncovered

Thousands of bots and fake accounts pumping Ripple’s XRP have been uncovered through graph analysis that suggests a massive largely fake shill army is engaging in manipulating sentiment and thus Ripple’s price.

“There are various types of graphs I use and analyses I conduct,” says Geoff Golberg, an independent researcher focusing mainly on Twitter manipulation. “It’s quite manual and requires lots of time,” he says.

It's very sad to see how they are misleading new users to buy their useless crap coins.
Ripple labs owns 50% of all XRP coins and is only waiting to dump their XRP regularly on new users at a hopefully high price. That's how Ripple Labs makes money for their own bags. 
Their centralized shitcoin is, like pooya87 already said, very useless.

I don't have any clue if the price will increase even more, quite possible but it could also go down the road. While Ripple Labs owns large parts of XRP, it's not easy to predict.
Personally, I would get rid of it as soon as possible. 


And about the Airdrop called "Flare" (Spark): that's another disgusting move from Ripple Labs to fill their own pockets. Large parts of the technology behind Flare / Spark (Avalanche Consensus) is copied from Avalanche Labs whose CEO Emin Gün Sirer from Cornell University started a cooperation building around the original whitepaper released in 2018 to build a new interoperable platform called Avalanche (AVAX).
"Flare" (Spark) is to Avalanche what BCash and BSV are to Bitcoin. Useless, dishonest shitcoin copies.

[pooya87]

~
OK cool, thank you for the advice. From what I am understanding though, wouldn't that make option 2) the most sensible strategy? Surely all this pumping leading up to the airdrop would increase the price of your coins that you invested in early so that you can then get out 2 - 3 days before the airdrop and make a nice profit?

it is hard to say because the price doesn't dump down to the price of before the pump started. so it depends on when you bought and what kind of profit you expect to make and also on your strategy (eg. if you are a day trader).
for example price could start going up from 100 satoshi to 1000 then dump to 600 followed by a dead cat bounce to 750 until the day of the fork then after the fork have sharp dump to 500 then slowly go back down to 100 over a longer time. obviously there is a lot of profit opportunities for a trader to benefit from the small ups and downs but also while taking higher risks.
one thing is certain though, since this is a pump and dump prediction is an extremely hard task.

[HabBear]

It's very sad to see how they are misleading new users to buy their useless crap coins.
Ripple labs owns 50% of all XRP coins and is only waiting to dump their XRP regularly on new users at a hopefully high price. That's how Ripple Labs makes money for their own bags.  
Their centralized shitcoin is, like pooya87 already said, very useless.

I don't have any clue if the price will increase even more, quite possible but it could also go down the road. While Ripple Labs owns large parts of XRP, it's not easy to predict.
Personally, I would get rid of it as soon as possible.  

Fear, uncertainty, doubt much?

• Ripple has an incredible purpose in the market - to facilitate financial transactions between traditional banks, which is arguably the next most significant purpose a cryptocurrency and blockchain can have
• Ripple owning 50% of their coins is expected, since they are a business, not an opensource cryptocurrency like bitcoin...and their holding of 50% of the float ensures that the affect of any public demand is greater because they are keeping 50% of the market cap on the sidelines, outside of the trading community
• Ripple's revenue opportunities for their team is greatest by bringing their coin into mainstream financial institution use, now pumping and dumping their coins
• No cryptocurrency's price is easy to predict, stop erroneously claiming that this is a unique issue to Ripple

To the OP...
--Don't listen to people on Twitter
--Don't listen to people on Bitcointalk "fear you" out of a buy, hold, or sell, especially when they say things like "I don't have any clue"

What you should realize is that Ripple is not meant to be an investment asset. It's a means for fiat currency transactions to transact over the blockchain...which would be a monumental improvement to the current financial transaction systems. Ripple may increase but it's not going to be a long term asset. You don't need a strategy. If you're happy with your 35% gain, sell it. Keep it in cash until you find your next buying opportunity.

It's as simple as that.

[pixie85]

I wouldn't hold XRP for long. It's going to get dumped once this short rally is over if not by the traders then by the Ripple company. They dump on regular basis to pay themselves wages and if they see a big pump like that, the biggest one in 2 years, they won't miss the opportunity.

If you have 30% profit or something close to that number sell and buy some bitcoins instead or keep your fiats and buy yourself something nice.

[1miau]

...

This comment contains mostly misinformation, so let's clean up the mess a little bit:

Ripple has an incredible purpose in the market - to facilitate financial transactions between traditional banks, which is arguably the next most significant purpose a cryptocurrency and blockchain can have

No doubt, Ripples 3rd place on Coinmarketcap can be seen by anyone and is a main factor that people still buy such shit (similar to BCash and BVS). Without that high position, solely based on tech, Ripple would carve out a miserable existence in shitcoin nowhere.
The tell-tale of financial transactions between traditional banks was initially launched by Ripple Labs to justify the existance of their shitcoin. In fact, nobody will use a shitcoin launched by Ripple Labs, where Ripple Labs owns at least 50% of all coins. The banks will just create their own shitcoin, like JP Morgan already did (JP Morgan Coin).
It is no surprise for anyone, even not for Ripple Labs who only used this argument to find enough idiots to buy their useless shitcoin.

Ripple owning 50% of their coins is expected, since they are a business, not an opensource cryptocurrency like bitcoin...and their holding of 50% of the float ensures that the affect of any public demand is greater because they are keeping 50% of the market cap on the sidelines, outside of the trading community

Or in other words, Ripple Labs is just waiting to dump their bags but can't do this immediately because it
a) would crash the price
b) would show what Ripple Labs really does

Ripple's revenue opportunities for their team is greatest by bringing their coin into mainstream financial institution use, now pumping and dumping their coins

Because XRP is a premined coin and Ripple Labs is holding large parts of it, dumping their coin will automatically lead to decreasing prices - until many people are buying it. So, to prevent the price from dumping, deceiving new users is essential for Ripple Labs to survive. It was suspected from the beginning that Ripple Labs needs a market manipulation of a scale never seen before to keep their scam running. And recently, these speculations were proven right, that Ripple Labs is actively manipulating and deceiving new users.
It's a shame that Ripple Labs has created this shitcoin but the even bigger shame are their fraudulent market manipulations.

No cryptocurrency's price is easy to predict, stop erroneously claiming that this is a unique issue to Ripple

The claim isn't disputed that cryptocurrencies are not predictable in price. Nobody can do that. But is it proven, that the well-being of XRP, a centralized, pre-mined shitcoin is completely dependant on the company behind it - Ripple Labs - which owns large parts of that pre-mined shitcoin.

To the OP...
--Don't listen to people on Twitter
--Don't listen to people on Bitcointalk "fear you" out of a buy, hold, or sell, especially when they say things like "I don't have any clue"

And don't listen to centralized companies who just want to load their pre-mined coins for their own benefit, manipulating new users to buy it and copy other projects while taking the credits.


Finally, it's also an ethical question which coin we support.

There are already tons of shitcoins where one can choose from, so why choosing a centralized shitcoin like XRP, when there are promising other ones like Cardano or Avalanche?  
Or just buy Bitcoin.  

[DoubleAweSeven]

If I were you, profits like that don't come often so you better sell some portion of your holdings before dumping happen which is probably around Dec 12 too once airdrop is finish. Don't be greedy too much. XRP has no future as a cryptocurrency, it's too centralized and will most likely not gain that much in the next few decades.

[hd49728]

I know not all of people who have XRP in portfolios bought it at bottom (0.00001556 BTC on Binance) and sold it at newest peak (0.00004265 BTC). 2 price points are used to give you the increase of XRP in 12 days. It is 174% increase during less than 2 weeks. Do you think it is enough for a rally? Do you think Ripple can rise more and do you wait for its price higher than 0.0001 BTC?

I don't say XRP can not hit 0.0001 BTC but it is impossible in this year. If you love XRP, sell it and wait for another dump buy back and have more number of XRP in your wallet.

[shinratensei_]

The first option should become the best option. You must know that if people will be massively selling their ripple after the second snapshot already taken. The same thing happened with BCH.
I think that the main point should be you must know when the snapshot will be taken and when that will happen and prepare your coins to be sold to the market as soon as possible.
It's about a competition to dump XRP. People will get flare and they will not need their XRP again.