I am not a cryptocurrency expert. I know enough about a few projects so I’m comfortable throwing money at them. I move money in and out of cryptos as necessary, living by the old saying BUY LOW, SELL HIGH. That doesn’t always happen, of course. I’ve chased spikes a few times. It’s never made me wealthy enough to quit the day job, but I’ve done okay here and there.
One aspect of investing and life that I’ve come to know well is fear. It’s a great motivator.
When I was afraid I was getting too fat, I got my ass on the treadmill and started counting calories. I lost 70 lbs within a year.
When I feared my drinking was getting in the way of my family life, my writing, and my health, I quit.
Over the summer, I feared for my daughter’s safety while we were camping and nearly took a shovel to a guy’s head.
Fear keeps blood red. It can be our saving grace.
Right now, though, with this Ripple/XRP/SEC thing, I fear that people are fearing too much. It’s likely Ripple isn’t going anywhere. Neither is XRP. And yet, people are selling. I get it. If you drank too much of the XRP-Ripple Kool-Aid too fast, you may have invested too much. YouTubers and other influencers can make anything sound like the cat’s ass. IF Ripple took a shit and XRP disappeared tomorrow, there are many that would still be waiting for the great Phoenix to rise. It’s cult-like. Plans within plans, all the world’s a stage, all that shit. It’s very convincing. I’m not saying all these things are wrong, they aren’t, but don’t go into anything with blinders on.
I started down that path about two years ago. Ripple under every rock. All the money. If you have been an XRP holder for long enough, you have heard all of these things. I take the good with the bad. The real with the fake. And I make the best decisions I can with the information I uncover. To me, XRP is a great opportunity. Ripple is a strong company filled with smart people. I’ll keep XRP in my portfolio.
I guess the question you have to ask yourself is why did you get into XRP in the first place?
It should have been because of your own research. Sure, YouTube, Twitter, Reddit can help you learn, but that’s probably where you should begin. Once you find a crypto you’re interested in, research the company. Look into their team. Examine their partnerships. That’s what I did. That’s why I hold XRP. But it’s also why I am not afraid to sell some of it as necessary. Recently, when the SEC news came out and the price tanked, I traded XRP for some other tokens that were doing well at the time. Now, as things settle and XRP stabilizes, I buy it back.
Don’t fear this SEC thing too much. What can you do about it, anyway? If you’ve invested too much, take some out and put it into something else. There are plenty of solid projects out there. ALGO, GRT, and XDC, to name few. In fact, it was my research of XRP and Ripple that led me to XinFin and XDC. That project has been my most profitable since I began investing in crypto. However, that is MY experience. Yours can be different based on your plans, your timeline, etc.
One thing I do know is that there are people…powerful people that will do anything to prevent regular, every day folks from having what they have–money and power–so be mindful of that during this SEC/Ripple show. Stay strong, but be smart. Do what’s right for you and your family.
Best to you and yours!
~kj