Sirwin
Sirwin

XRP - Episode 004 - XRP Dilemma! Participate in a Price Pump or Not?

By TheScholar | Day-Trading Cryptos | 1 Feb 2021


I'm not a legal advisor, but I urge you to reconsider your position if you plan on doing any actions that may get you on the wrong side of the law and the wrong side of morals.

 

Today, a serious XRP pump is taking place, based on the actions of a seemingly big community that set a time and date to take this collective action together to pump the price of XRP.

Such coordinated effort has already worked for Gamestop, and is currently working for Silver and for XRP, as the prices of both Silver and XRP are getting higher by the second.

Shall you participate?

The short answer is: No, as you could be in for some legal surprise and get penalized for such participation.

The long answer is: Who will be hurt in such a move? Some unaware investors who see a pump on XRP and fear on missing out (FOMO) and baaaam everybody dumps on them, and they end up acquiring a loss.

 

Shall you miss on the opportunity?

If you are a long XRP hodler, this may make your possessions worth more "If" the group commits to its original plan to "buy and hodl", as the price "may" stabilize at a somewhat higher price. However, If the dump happens directly after the pump, then you as a hodler will most probably not be affected if you purchased at a lower price. Only those who came late to the party would have paid for the tickets but would fin the party is already over.

If you are in for quick gains though, then this means that you are a "pump and dump accomplice" and the question becomes: Do you want to be an accomplice?

 

To sum, this planned effort could really be a pump and hold and then the price will be higher for hodlers, or it could end up going wrong and becomes a pump and dump situation, which would hurt mostly everybody. In both cases, my advice is, don't participate in something that could hurt others, unless you think you could face the legal/ethical consequences.

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TheScholar
TheScholar

With passion for science and technology, I strive to help others to gain another perspective.


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