Investment Hopes, Speculations & Anticipations

In the crypto market one investment I did with hopes, speculations and anticipations is the XRP. The native token from the ripple lab company has been a collateral damage between the ripple lab and SEC (Security Exchange Commission). SEC sued the company, ripple lab for selling XRP as a security some years back. This made the token tank so hard in late 2020 during the time most crypto projects started attaining new all time highs.

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XRP has been one of those tokens I wanted to invest in when I was in college because, I felt I missed the bus of Bitcoin, caught the bus of ETH but misused the opportunity, then decided I should go for XRP, this was mainly because XRP was the third cryptocurrency by market cap at that time. I made this decision in 2018 when I was still new in the crypto space and doing my research. I bought a lot of XRP because, it was below $1, and the transfer fee was cheaper than BTC and ETH, and the transfer time was faster as well. This made me fall in love with the project.

But then, my knowledge on decentralization was really low so I didn’t really understand it’s complete importance. The ripple lab has been in existence since 2013, created XRP to be used as a means of payment and transfer, meant to be better than Bitcoin, but the only problem is that it’s very centralized. Because there are pre-mined supply of XRP, which makes it kind of scary even though the devs have tried to gain the public’s trust.

After the SEC law suit, the value of XRP tanked, I decided to take a risk by buying more because I wanted to be rich. At that moment I knew I was gambling, but I decided to use money I would have spent on something less important like clothes and shoes to buy some XRP. With the hope that if Ripple Labs wins the case, the value of XRP will pump, but if they lose, it will dip further. But that is not a problem, because I don’t mind just hodling, If I had spent that money 2 years ago, it would have gone.

Lots of people have lost hope on XRP and called it a shitcoin, for obvious reason it’s one of those coins that haven’t reach an all time in a long time. The SEC lawsuit is one of the reasons, it’s been almost 2 years since the lawsuit, when will it be over? Are we going to see a pump if ripple labs wins the lawsuit? These are my hopes, anticipations and speculations on the project.

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