I told you all the story of how I got rid of all my Ripple (XRP) in order to fund my account here.
But did I make a good call?
I had sold out of all my XRP back in November of 2020. It was up and I dumped it!
So today I see XRP hitting $1.36 and it is time to take a look back and see if I did the right thing.
I even got rid of it at its peak, at the time, which was around $0.70 for the XRP
Now I see XRP sitting at $1.36 and wonder if I had made a good call.
Let's take a look at what I did.
On the second week of November last year, I dumped 27,000 XRP to buy a little over 164,000 Hive
The value of the XRP was 0.70 x 27,000 = $19,000
- $19,000 buys 164,000 Hive at 0.11
- Today 164k Hive is worth $111,000
If I had held until today?
The value of the XRP was 1.36 x 27,000 = $36,720
- $36,720 buys 54,000 Hive at $0.68
- Today 54k Hive is worth $36,720
(only 0.611 BTC)
- Today 54k Hive is worth $36,720
No. I didn't sell my XRP too early or miss out on anything.
But what if you had sold it into BTC ?
Same argument.
27,000 XRP at $0.70 is $19,000
- $19,000 would have bought 1.21 BTC at $15,600
- Today 1.21 BTC would fetch $72,000
Of all that I could have done.
I had made the right choice.
Sunday is a great day to take a close look at what you have done in the past. Check if it came out the way that you thought it would.
What were you thinking at the time?
See if you were right.
I remember holding the XRP with the intention of getting rid of it. I do not like the coin. It is centralized. I did not even remember having any until it came up in the news. But I did hold it in order for the right timing.
When my coin is up, and the coin I want is in a deep dip, that is my chance to do well!
The dollars price for a currency is not a good measure to trade on.
The figures are rounded for the most part for simplicity. There is no way to buy, sell or transfer quantities all at once without KYC and I do not play that game.