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XRP is looking like a good movie...

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felander
@felander
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2 min read

A month ago I wrote this post about selling my bag of xrp and my reasoning behind it.

Now it seems it was the right thing to do.

The SEC is suing Ripple and Ripple Labs.

Brad Garlinghouse is here trying to defend himself and his money grab.

https://www.youtube.com/watch?v=dDxhgCUx7RU

It does not seem to help and it also seems that most people do not have the conviction of someone that has siphoned 600 million out of XRP in the last years. Most people seem to be dumping massively and losing faith. A lot of them were just in it for the trading and not for the fundamental faith in the token.

But this is not only about the price dropping and potentially leaving regular people stranded but it is more about the whole longevity of the token as such.

Some small exchanges have started to delist XRP as they also might be at risk

Do you know who is at risk if XRP is considered a security? Every exchange that lists XRP

I personally like the remittance issue and money rails problem that Ripple labs is trying to solve but have not seen any shred of evidence that XRP the token is needed to do that. The SEC can go after Ripple because it is so centralised and BTC and ETH do not have CEO's that can be dragged in front of a judge.

https://www.sec.gov/litigation/complaints/2020/comp-pr2020-338.pdf

The SEC paper reads like a crime novel. In a few years, there will be a film made on this for sure. And I am fairly sure that Mr Garlinghouse will not come out in the end as "the good guy"

What is your stance on XRP?

  • Buy?

  • Sell?

  • HEELLLL NOOO?? Short it to the ground

  • XRP to 10 USD!! Long it to the moon

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