On Monday, Ripple traded around $ 0.60, but on Tuesday, for the first time since March 2018, it rose above $ 1. Ripple tested the $ 1.50 area on Sunday, and thanks to impressive gains in recent days, it regained its title of the fourth largest cryptocurrency by market capitalization. Now, some market participants are waiting for the further growth of this cryptocurrency to the $ 2 area, which in December 2017 turned out to be strong resistance with a lot of interest in selling.
What’s going on with Ripple? Is it worth jumping on the train now or, given the SEC’s XRP lawsuit, are the risks too high? Leonid Delitsyn, an analyst at FINAM Group, answered the question of Fortrader magazine.
– Now it is gradually becoming known how much “glossy” billionaires like Paul Tudor Jones actually invested in cryptocurrencies, who announced it publicly. They invested, firstly, only in bitcoin, and secondly, no more than 1% of their fortune. Accordingly, if you invest in XRP, for example, two or three ppm of a portfolio, then at any risk the damage will not be particularly noticeable. To jump into XRP for a large fraction of your available funds, you have to be Matthew Taylor Mellon II.
His ancestors headed the Treasury Department, his grandfather founded Gulf Oil, but the family did not consider Matthew the most exemplary investor. Under pressure from relatives, he sold bitcoins, but then secretly acquired XRP for $ 2 million. In 2017, the rate increased from 6 thousandths of dollars to $ 2.3, and Matthew earned a billion dollars. True, the next year Matthew, unfortunately, passed away.