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Crypto Season: Is this the Ultimate risk/reward scenario for a revolutionary crypto asset?
XRP got me into the crypto space in 2017. I watched in disbelief as the price of XRP shot up from $0.25 to over $3.00 in a matter of months. Unfortunately, the bear market claimed all my gains and I was left with memories and a lesson (take profits!). Today, XRP is trading at a little over $1.00 and has fallen in the ranks mostly due to an SEC lawsuit that launched in December 2020.
I do own some XRP. I bought it about a week before the SEC unleashed their lawsuit (great timing, huh). I have held and continue to hold in the hopes that the lawsuit will be resolved. In this article, I will discuss why I think it makes sense to hold some XRP and why I am happy that I have held my position.
XRP is a controversial crypto asset. In the last bull run, it was extremely difficult buying it in the US. I remember opening a Binance account and moving over some BTC to make my purchase. Most exchanges added XRP to their offerings in the past year and abruptly removed it after the SEC charges.
Many in the crypto community are anti-XRP because it is centrally controlled by Ripple Labs. There are other reasons to not like it. They agreed with one of the co-founders, Jed McCaleb to receive over billions of XRP that he regularly dumps on the market. This…
