12-02-2020, 03:31 PM
A word of warning about the XRP snapshot on December 12th (for traders)
<!-- SC_OFF --><div class="md"><p>If you are an XRP <strong>trader</strong> (note: not a HODLer) and are looking to make some gains off the upcoming flare/spark snapshot that is taking place on December 12th, <strong>this post is for you</strong>.</p> <p>This is a classic setup in the crypto world that almost always plays out the same way, and you will not want to be holding any XRP by the time we get to the 12th (again – this is from a <em>trading</em> perspective alone).</p> <p>In the next week or so, we will see a slow, steady increase in speculative purchasing of XRP with the goal of either making a play on the December 12th snapshot or securing some free spark at a 1:1 ratio to held XRP. However, unless you are a long-term holder of XRP, you will almost certainly want to <strong>sell your XRP</strong> <strong>prior to December 12th</strong>. Everyone and their pet iguana <em>is</em> going to be looking to sell XRP <strong>immediately</strong> <strong>after the snapshot</strong> has been taken, and you don’t want to be on the slow side of that sort of dump.</p> <p>If I wanted to make a play here, I would <strong>start purchasing XRP on dips over the next week or so.</strong> Then, from December 7th through December 10th, I would sell off a portion of my accumulated short-term stack every time there was a notable pump (or at pre-specified price levels). <strong>If I got to December 11th and I happened to still to be holding some XRP,</strong> you can bet your great aunt’s prized pretzels that <strong>I would be looking to pass that hot XRP potato bag</strong> to the librarian nearest me <strong>asap.</strong> If I was feeling particularly bold, I might even <strong>open a short on XRP on the 11th looking to exit on the 12th</strong> once everyone has secured their precious Spark.</p> <p>So, we might guess that XRP is going to see a significant increase in price leading up through the 11th, followed by an almost-certain dump on the 12th. Personally, I’m not a big fan of XRP in general, and this is just written as someone on the sidelines who has seen a number of these types of events play out over the years in the crypto space
If BTC would chill out over the next two weeks, this would be an easy play, but XRP’s reactions to BTC’s movements in the time leading up to the 11th make this a bit tricky.</p> <p>This isn’t advice, and you shouldn’t do anything related to what I’ve described here unless you’re cool with losing 100% of what you’re putting in.</p> <p>Good luck!</p> </div><!-- SC_ON --> Kind Regards R
<!-- SC_OFF --><div class="md"><p>If you are an XRP <strong>trader</strong> (note: not a HODLer) and are looking to make some gains off the upcoming flare/spark snapshot that is taking place on December 12th, <strong>this post is for you</strong>.</p> <p>This is a classic setup in the crypto world that almost always plays out the same way, and you will not want to be holding any XRP by the time we get to the 12th (again – this is from a <em>trading</em> perspective alone).</p> <p>In the next week or so, we will see a slow, steady increase in speculative purchasing of XRP with the goal of either making a play on the December 12th snapshot or securing some free spark at a 1:1 ratio to held XRP. However, unless you are a long-term holder of XRP, you will almost certainly want to <strong>sell your XRP</strong> <strong>prior to December 12th</strong>. Everyone and their pet iguana <em>is</em> going to be looking to sell XRP <strong>immediately</strong> <strong>after the snapshot</strong> has been taken, and you don’t want to be on the slow side of that sort of dump.</p> <p>If I wanted to make a play here, I would <strong>start purchasing XRP on dips over the next week or so.</strong> Then, from December 7th through December 10th, I would sell off a portion of my accumulated short-term stack every time there was a notable pump (or at pre-specified price levels). <strong>If I got to December 11th and I happened to still to be holding some XRP,</strong> you can bet your great aunt’s prized pretzels that <strong>I would be looking to pass that hot XRP potato bag</strong> to the librarian nearest me <strong>asap.</strong> If I was feeling particularly bold, I might even <strong>open a short on XRP on the 11th looking to exit on the 12th</strong> once everyone has secured their precious Spark.</p> <p>So, we might guess that XRP is going to see a significant increase in price leading up through the 11th, followed by an almost-certain dump on the 12th. Personally, I’m not a big fan of XRP in general, and this is just written as someone on the sidelines who has seen a number of these types of events play out over the years in the crypto space
If BTC would chill out over the next two weeks, this would be an easy play, but XRP’s reactions to BTC’s movements in the time leading up to the 11th make this a bit tricky.</p> <p>This isn’t advice, and you shouldn’t do anything related to what I’ve described here unless you’re cool with losing 100% of what you’re putting in.</p> <p>Good luck!</p> </div><!-- SC_ON --> Kind Regards R