XRP: Why holding is the best strategy right now rather than day trading

The price of XRP has increased massively the last few days but I still think it has a lot of momentum left to trade up and until the end of the year at least, I think holding XRP instead of day trading and trying to increase your holdings is the best strategy there is. Usually when a coin goes up so much in a short period of time, I would advise to sell it and then buy back in at a lower price. However, in this case, there is so much good news and bullish sentiment on XRP that I think it could reach $1 in the next few days. At that point, I would be willing to sell it and try to buy back in at a lower price but right now at 55 cents, I think selling and buying back in is too much a risky venture. I also think XRP could go back to its high price of $3.80 seen last year which represents a 700% gain over the current price which about 200% per month until the end of the year. With that possibility on the board, it is just too risky to sell out at any time because you may never be able to buy back in at a lower price. If I were to sell out and try to buy back in, I would look no lower than 45 cents because I think it will be hard for XRP to fall lower than that. Overall I am extremely bullish on XRP because of its banking partnerships and the upcoming launch of X-rapid.

*Note I am not a professional financial adviser and this is not professional financial advice, just my opinions.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s