Cobb@Cobb_XRPL
MY HONEST OPINION ON THE CURRENT STATE OF XRP AFTER DEEP VALUE INVESTING FOR 6 YEARS👇
As of today, it has been 2,070 days since XRP reached its all time high of $3.84 in early 2018. I think one thing is quite clear. XRP holders are not happy right now, especially after defying all odds and rising victorious against the SEC and securing the legal clarity for XRP (first coin in the United States to achieve this).
We were looking forward to the Ripple v SEC victory for years, staying updated on the legal briefs from the three main lawyers in the community. Once we achieved our victory we waited so long for, XRP EXPLODED from $0.45-$0.95 in a just a few hours. Everything was going great, everyone was happy, euphoria, excitement, pride, but what went wrong?
First off, this was an XRP-exclusive pump. Nothing else was moving like XRP was. In a sense this was an XRP season where the big talk of the town was XRP and only XRP. The thing doubled in like 2 F***ing hours. Heck, even ELON MUSK liked a post from Coinbase Chief Legal Officer alluding to the XRP victory that day. It took the crypto sphere by storm, BTC & ETH purists were even rooting against us and genuinely believed XRP would be ruled a security. It was a shocking moment for the whole space.
I think this just part of (big emphasis on part of) the issue why the lawsuit victory didn't give us the moon status that we wanted. Crypto was not in a bull market whatsoever. All the top coins were in a slump. Not to mention the FUD campaign of the SEC Appeal and the media trying to make it sound like XRP could still be a security
For comparison, During the 2021 crypto bull season, the lawsuit had just begun, XRP was $0.17 and over the course of several months it skyrocketed to the near all time high area of $2.00 per coin. So let me get this straight, XRP has 11x pump during the lawsuit, but winning the lawsuit only went 2x. Why?
Ah yes, Bitcoin and Ethereum were ripping 3x higher than their 2018 all time highs, XRP followed suit with the influx of liquidity to crypto. Imagine if this victory occurred during a bull market, we would have for sure shredded the $3.84 all time high to pieces.
Ok... so $0.50 XRP. Everyone has a different relationship with it. There are people who accumulated XRP for pennies on the dollar, and there are people who chased the euphoria and bought $1-$2+. Some are in comfy profits and some aren't.
No matter what price your DCA is with XRP:
-XRP is not a scam coin
-All the liquidity didn't evaporate
-XRP didn't get rugged to 0 like terra luna and many other projects
-XRPL is growing and being utilized by real money transmitters
-XRP has always and most-likely continue to be in the top 10 cryptocurrencies by market cap
From a macro perspective, where we are on the weekly/monthly chart I definitely believe we are in the 'disbelief' stage. All the social cue's of disbelief, doubt, and disinterest just makes sense to me that this is indeed the final stage before the next cycle $15.00+
That is all in the past. Here is what I am personally looking forward to
-BTC ETH XRP together moving back into the bull market (BTC ETF approval could assist with this)
-XRP's massive cycle repeat and based on history we are at the tail end of that cycle.
-Research firm put Ripple at a 98% chance of IPO since Series C funding (Media storm, Brings XRP into the mainstream)
-Ripple SWELL November in Dubai (announcements/press releases/developments made known to public)
-Settlement of the ongoing litigation against Brad and Chris
-XRP community celebration hosted by Ripple on Sept. 29 in New York (have a feeling something could become news that day)
-BTC block reward halving is 215 days away which is a huge event for the Bitcoin miner economy but debatable if it directly influences price
-In the future XRP ETF discussion could become serious once BTC and ETH open that door.
-Ripple re-entering deals with the US market with achieved XRP legal clarity (partnership announcements)
-Ripple CBDC developments/announcements has been surfacing quite often and looking for more of them down the line
In conclusion, I would just like to say we know what XRP does, why it has such great potential and the amazing developments Ripple and XRP are making, but part of the frustration is the market doesn't see and understand the things that we do.
"The tide comes in, the tide goes out, but the sea level rises"