I just sold all of my ripple (here's why)

in cryptocurrency •  7 years ago  (edited)

I know a lot of people really like what ripple has to offer, I know a lot of people think ripple is going to the moon. And perhaps it will, but hear me out...Ripple is going to have to correct soon, it is way overvalued and there is no way its going to maintain this much of a market cap when bitcoin and ethereum start to pick up speed again as we move into the new year. Much of the recent momentum and growth ripple has seen, has come from retail investors without a strong understanding of what ripple is and how it works. They're expecting more parabolic growth that isn't going to happen like what we've seen with bitcoin.

I think I may feel a little differently than people who didn't get in under a dollar and are still looking to make some profit on another run. But I really want to remind people that a sports team mentality never makes for strong investing strategy...and as much as I think ripple is cool in theory and the idea of banks behind it is promising I don't see more value in other currencies at the moment.

The middle of the month is traditionally the time we've seen bull runs in bitcoin i recent history, so expect to see some major consolidation in bitcoin over the next 2 weeks as it prepares for its next move. This is going to cause a large amount of market cap move out of ripple and back into bitcoin and altcoins that track its movements.

Ethereum will also be getting ready to make some moves with the launch of CASPER alpha and proof of stake transition closer than ever. Smart contract lending for validation pools will create a whole new market around ethereum and will drive up demand and price in the near future.

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I sold mine yesterday at 2.04 i missed the pump at 2.50 because i thought it might keep going up, but with that amount of coins it cant go very far. https://steemit.com/art/@errante/montage-love-and-happiness

I'm actually looking into Ripple as an investment for the long term, although long term in cryptocurrency is little more than a year when looking at 2017. I think Ripple is gaining a reputation as a viable alternative to bitcoin, bitcash, ethereum, and other cryptocurrencies above $100. However like any investment there should be value in whatever you buy. Time will tell.

I heartily agree! I think ripple is establishing itself very well, and looking good as a long term prospect! I only sold my position out of concern for the opportunity cost.

For me the cost of Ripple right now is an opportunity. Unfortunately the big boys just cost too much and I think I have a better opportunity to get greater gains with Ripple. Time will tell. All the best for 2018.

My investing experience draws largely from trading penny stocks. Correct application of opportunity cost is usually a direct reflection of a companies share structure. The smaller the tradeable float a company has, the more likely it is to see a larger price fluctuation. When I take the current price and market cap of ripple into account with its float, the immediate gain potential is smaller than some of the other coins on the market.

I don't see anything wrong with maintaining a long position in ripple though.

Thanks for the advice, I'm following you.

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thanks for u advice