XRP: Why "controlled" crypto coins are a bad idea RIP..pleASE
XRP had the ability to shine in regards to low transfer fees compared to BTC and ETH. Unfortunately, the charts shows this is a toxic coin. Pump and dump penny stock market style. Lessons for traders and holders alike: Don't trust any coins that are controlled by people who can be controlled. Controlled by greed, controlled by government or controlled by market manipulators of the grandest scale.
Had a small trading non-HODL position , cut my loss on the Coinbase news. That's the platform for the US masses and the masses are the last to cut their loses on dogs to move on. Poor buyers who bought on the pump this fall not understanding the serious structural flaws XRP has. The world will shun the US controlled crypto as much as the USD in the coming years.
On the trade for this dog, I'll wait on a non-US exchange for Jan 19th 2021 when the last of XRP holders dump to waiting hands on weekly oversold. We should be there in a few weeks and XRP should be available for sub 10 cents is my wild guy as this behaves like a corrupt penny stock. Don't fight the charts - they paint the whole story in bright red. I might set a buy order at 5 cents?
For traders, this reminds us:
Don't try to catch a falling knife
Don't trade flaming dumpsters
Is there a decentralized, uncontrolled, fixed math digital coin out there that similar to bitcoin but better suited at small fee, fast transactions like Ripple was? That's the coin to move to and it must be non-US controlled.
Ripple = RIP, until something magical comes to your rescue but the world has lost faith in you and the US has shown you want to avoid US controlled currency, of any type, whether paper or digital.
Had a small trading non-HODL position , cut my loss on the Coinbase news. That's the platform for the US masses and the masses are the last to cut their loses on dogs to move on. Poor buyers who bought on the pump this fall not understanding the serious structural flaws XRP has. The world will shun the US controlled crypto as much as the USD in the coming years.
On the trade for this dog, I'll wait on a non-US exchange for Jan 19th 2021 when the last of XRP holders dump to waiting hands on weekly oversold. We should be there in a few weeks and XRP should be available for sub 10 cents is my wild guy as this behaves like a corrupt penny stock. Don't fight the charts - they paint the whole story in bright red. I might set a buy order at 5 cents?
For traders, this reminds us:
Don't try to catch a falling knife
Don't trade flaming dumpsters
Is there a decentralized, uncontrolled, fixed math digital coin out there that similar to bitcoin but better suited at small fee, fast transactions like Ripple was? That's the coin to move to and it must be non-US controlled.
Ripple = RIP, until something magical comes to your rescue but the world has lost faith in you and the US has shown you want to avoid US controlled currency, of any type, whether paper or digital.