So Im super new to this XRP space (2 weeks) and I thought I might fish for some feed back. (I hope I get this right.) TLDR below.
Since the beginning of of Ripples drive to Lobby for crypto regulation a clock started. A slow count down to D-Day, when the flood gates would open. That seemingly over night millionaires would be made and all the doubters would be put to shame. I don't dispute this hypothesis it is evidenced by the ODL credit line functionality which is Ripples business model/ use case. However before we get there. There's a little gap regarding the regulations of all the individuals (not Banks) that are currently holding XRP. One concern is all the individuals who don't actually have keys to their coins, i.e. all those who purchase keyless/ on exchanges. Those who can't participate in the spark drop. This revelation was not welcome but it seemed like some digging had to be done. What will you find out? I don't know? ( please let me know what you find/know ) Well what did I find? What I fond was that there's a difference between crypto wallets and proxies, and if you're not cold holding you're crypto you're probably SOL. Why? Because you can't authenticate and subsequently claim upon something you don't own. Now initially this made me mad because it meant I was playing it wrong, alas YLYL. But then my mind got to think what other things could those HODLers do that I can't? Then it hit me. They could play the game of the Royals. Let me explain. The use case states that XRP will be the currency of interbank transactions. So in theory holding XRP as a store of value is inherent to its purpose. Sadly in the short term this means price action won't be parabolic until its commonplace to have 100's of billions and eventually trillions in market cap (FYI this is one play. A very Long Play)...). In other words to Ripple's aim is to have an established bank with a sizeable market share of global transactions. So then what's all the hype about swell and Spark? Well from what Ive gathered swell and the extremely rapid regulatory reform are the bell that set off the gears clock. If you are an Owner either by hardware or key-enabled exchange user (true ownership), then you have the unique opportunity to play the game and participate in the merger of Ripple Net and EtherNet. The significance of this statement is cause for celebration! But what does this mean for price action? Well as much as I'd like to imagine I have a crystal ball, the honest truth is I have no idea. But if you're looking for a short term approach here's what Im thinking*. Though the bell has been rung and the FOMO is set to raise the tides. Market participants should be mindful of what the reality may turn out to be. XRP has been dormant for the better part of 3 years now and there's a lot of heavy pockets just waiting for a pump and dump. Now this should not be too scary for those who hold my original hypothesis, it is my belief that they only seek to take partial profits on their journey to the moon. But for the gullible, fearful, weary and the greedy. Dec 11th will be the opportunity of a life time and there is no telling how bad the selling may get, when you could be faced with returns of 100-4000% in the green zone. Only an idiot would keep the whole lot! On the flip side it may be an exercise in discipline or for others faith (do note like anything in the world tits up is an option). So that it either you hedge on spark, stay the course or (my position) play the game of the royals. How..... well I think I've left more than enough vagaries for you to clump together. TLDR: New to XRP/ baffled by why wallets are important/ claiming spark is hard & smart/ expect the swell to fluctuate when the tide rises.
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