If you never sold your XRPs during the start of the SEC lawsuit, why would you even think of selling them now? Especially considering XRP just tested the $1.9 mark. I honestly believe that selling your XRPs now is an outright bad idea. But since I prefer using facts to support my claim, in this video, we will look at reasons why you should never sell your XRPs in the coming five years. What’s up, guys! Welcome to Money Side.
If you haven’t already, hit that subscribe button, and let’s make this money together. Now that that’s out of the way, let’s get back to today’s topic: Why you should never sell your XRP in the next five years. Most investors abandoned this crypto as soon as the lawsuit was filed by the SEC.
In fact, the general idea was XRP will not even make it to 2021. But look at it now! I was a strong supporter of this coin, and guys, I kept holding on to my XRPs even when everyone doubted this coin. I’m now glad that I never traded by coins and fall trap of a loss. Last year, XRP dropped to a low of up to $0.21. But that was immediately after the lawsuit. If you never noticed this, XRP was already headed to the moon.
And ever since then, this coin has been on a steady bullish trend. That begs the question; where do you think XRP will be in the next five years? I’m optimistic this coin will be too expensive for the ordinary trader to afford. So, now is the perfect time to stock up on this coin before it becomes scarce and too costly.
Since the SEC lawsuit began, we’ve been getting several good news about the future of this coin. But if you haven’t watched my previous videos, let me give you a summary of the proceedings. According to SEC, only Ripple Labs and its affiliate will be affected by the lawsuit. That technically means all exchanges that previously delisted this coin now have the chance to relist it. Hence the #RelistXRP is trending on Twitter. If that happens, this coin will continue with its bullish trend.
The other great news is that whether Ripple Labs wins this case or not, the court will not interfere with the coin’s operation outside the US. In my previous video, I mentioned that Garlinghouse stated in an interview that they would only have to register Ripple Labs as a brokerage and get the correct licenses in case they lose the case. That could jeopardize their operations in the US but not the rest of the world.
That said, Ripple Labs might have to concentrate its operations outside the US. Lastly, Garlinghouse also stated that close to 90% of XRP traders are not from the US. So even though the court proceedings are affecting the price of XRP, it will likely continue to gain value in the market. That essentially means if you hold your coins for the long term, you could become the next XRP millionaire. All it takes is a little patience. An article was written on Ripple’s website shows that the company has already started its pilot Private Ledgers for Central Banks.
These private ledgers are designed to integrate the Central Banks of the World with the cryptocurrency world. That’s the perfect future for blockchain technology. Ripple Labs and XRP are trying to opposing worlds together instead of letting them wipe each other out.
Cryptos such as the infamous crypto king, bitcoin, are designed to remove fiat currencies and central banks from the economy altogether. That makes it hard for governments and certain private institutions to embrace currencies such as Bitcoins no matter how successful the crypto giant will be. Swift is just a bank-to-bank messaging system that falls short if you plan to transfer assets beyond the fiat realm.
And that’s where XRP comes in. Aside from being an easy transfer system, the XRP ecosystem is fast and reliable. Transactions are completed in under a minute, and the funds are transferred almost instantaneously. Additionally, verification of transactions within the private ledgers is equally fast. That said, most people have concluded that XRP will one day replace Swift because of fast transactions, low fees, and zero limitations on what you can transfer from one account to the next.
All in all, we are currently waiting to witness how this coin’s ecosystem will fair in the near future after the closure of the SEC lawsuit. If or when XRP replaces Swift, this coin’s price will skyrocket, and the holders of XRP will reap a substantial profit from this market trend. I don’t know if you’ve noticed this, but today every established cryptocurrency trader is talking about Ripple Labs. We live in a social media era where any publicity will work wonders for marketing a specific product.
And in this case, the SEC court case is working in favor of XRP. Everyone who ignored XRP is curious to listen in on the court proceedings to validate if this coin is a worthwhile investment. That said, the adoption of Ripple’s XRP has gone through the roof.
The majority of traders right now own at least a portion of XRP in their investment portfolio. Why not you? That shows you that the hype around this coin is genuine and not something that’s been fabricated. Therefore, if that’s not reason enough to stock up on XRPs, I don’t know what else will convince you. But I still have a few tricks up my sleeve. For instance, let’s take a quick look at the technical analysis, which should help support my claim that you shouldn’t sell your XRPs.
At least, it’s not yet the right time to exit this market. If we look at an 8-hour time frame, We have backtested the support level $1.47, something I told you we are going to see. Now it’s time to break the BIG resistance level around $1.73. Yesterday we closed the highest weekly candle since January 2018 and that is a good sign. Once we break the resistance of $1.73 the next one is around $2.
I expect a big green candle in the coming days, so be ready and don’t PANIC 🙂 Now we are looking at the weekly XRP/BTC chart, As you can see XRP has reached the trendline and now it’s facing a resistance zone there! Volatility was in oversell zone limit and now it’s trying to get out of it. If XRP manages to break both of them ( bearish trendline and resistance zone ) then volatility will be back in the bullish phase.
After 735 days of accumulation in the oversold zone; It will fly to spend some of its time on the over buy limit probably. Also, MA100 and support zone are below movement now and so; They are so near to it! So any they can lead the pair above resistance.
Based on volatility; After the breakout, XRP will have enough space to retest its last ATH on BTC pair. Don’t sell anything until it hit the $10 mark. Trade safely my friends. Please keep in mind, We are not licensed, financial advisors. All videos on this channel are intended for entertainment purposes only.