Wish I had bought more XRP

By Bala | Bala | 13 Jul 2023

At the time of writing this article, XRP is having a massive pump. I got a notification from Coingecko about the breaking news that XRP wins the case against SEC. This is a great thing for the crypto folks. For me personally, XRP is close to my heart after Bitcoin because that is the second cryptocurrency that I wanted to invest in and give it a try. When this SEC case started many people feared and they started selling their holdings. I was still holding tight. For a fact, I know that XRP is not fully centralized even though Ripple was having a massive holding.

There are many good facts about XRP and XRP itself is not Rippe but Ripple was using XRP for their digital transactions. One of the biggest use cases of XRP was to transfer fiat from one country to another within a few seconds. Initially, it used to take a lot of time to transfer currency from one country to another country, and with the help of Ripple and XRP it was made possible. This was one of the first few actual use cases of digital currency or cryptocurrencies. Today the governments are trying to achieve this with the help of CBDC.

In the last hour, XRP had a massive pump and almost close to 100% pump after Ripple wins the case against SEC. Many people who closely followed XRP should have expected this already and they might have already started the day with this expectation. Some people might have even purchased some XRP in the morning before the hearing. If someone had done that, then it is definitely a massive profit for them.

I always had a good opinion of XRP and the most attractive thing is that XRP has a fixed supply and the purpose of the coin was very clear. Many companies and banks were using it for the exact same purpose and that's one of the good things. The supply was 100 billion and the entire 100 billion was minted when the blockchain started unlike how it works for Bitcoin. It is also true that Ripple has a major portion of these pre-minted coins.

In order to make the transactions faster and make a better user experience for day-to-day users, Ripple has also partnered with many financial institutions across the world mainly focusing on cross-border transactions. There are always research works happening on how to improve the experience. I personally have seen many banks in India using Ripple technology for overseas transactions.

Today it was very interesting to read this judgment that XRP is not a security. The lawsuit was to ask Ripple to stop issuing XRP and regulate it more saying that it was a security and is subjected to additional regulations. Now the hearing has said that XRP is not a security and within a few minutes of the announcement XRP price started pumping and went over 62 cents and now the price is around 83 cents at the time of writing this article. There is a high possibility that this can even go further up.

My initial investment was around 2 dollars if I remember correctly. A week back I wrote an article saying that I'm currently focusing on doing a DCA on some of the native coins that I have been holding for years. I did buy some XRP last week at the price of 47 cents. I was able to purchase only a few due to liquidity issues. Today after seeing the pump, it makes me feel that I should have invested a lot more than that. I personally think that it might have a huge pump but ultimately the price would settle somewhere around 1 or 2 dollars and not more than that because it can take a while for people to come out of this transactional urge from buying, selling, booking profits, etc. After the correction in another few days, the price might finally settle around 1 dollar if I'm not wrong. Let's see what happens.

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