XRP was entirely based on compliance and corporate control. It represents the bet that banks will subvert real distributed currencies like Bitcoin. Of course, that strength to control and promote the network made them extra vulnerable to the same regulations they sought to comply with. It’s not surprising to me that they faced devaluation and a SEC investigation. After all, the founders and company held massive quantities of XRP and would promote their holdings through business deals. They made all the decisions and put themselves in the position to be targeted. That’s a security, no doubt about it.
In any case you probably know a lot more about the financial system and cryptocurrency and therefore can make better decisions in the future.
As for current holdings, no idea but I’d guess there will be a small bounce back of people testing recovery before another drop. I’d try to exit then, personally. But if the money matters very much to you and you were over invested it might be best to play it safe and cut your losses while you can. Exchanges are likely to delist it so they aren’t peddling an unregistered security.
If not, why should we care now?
1. Don't risk money that would "ruin" you if lost.
2. Realize that there is no such thing as really being "ruined", on a personal level. You'll survive, both literally and, eventually, financially - and you'll have a lesson.
The get-rich-quick cohort is too quick to sell. They sell after 2x or 3x to "lock in gains" and then sit on the sidelines for the 20x. And then they buy at the top when the hype is at max volume. Then sell after a 50% drawdown to protect what remains of their capital.
However, those with extraordinary patience can do very well. Buy the leaders that are technically sound, with high decentralization, widely accepted with deep liquidity.
Then withdraw it offline, out of exchanges, to a hardware wallet.
Stop checking the price every five minutes.
Maybe once a quarter check the market, read the news, and ensure you remember your pin or seed and that your tokens are still there.
Never trade. When it doubles or triples, don't sell. When it drops 30% or 70%, don't sell. Just hold 5 or 10 years.
I've never been a fan of the centralized Ripple model, but if I was in your place, I'd examine my motivations. If I need the money now, if I'm looking for a quick buck, then I'd sell to stop the stress.
But if I can take a very long-term perspective, then I'd trade what's left for BTC or ETH and salt it away offline until 2026+ and see what happens.
BTC at least once functioned as an alternative currency, accepted by Steam and Dell, among others. But it got too expensive and took too long to process, so most merchants that accepted it dropped it.
But that's all it was. It wasn't the end of the world. It wasn't the death or illness of a loved one or yourself. It's just money. It stings now, but that'll help you remember the lesson. It's happened, it's just history now. Accept it, take the lesson to heart, and move on with your life.
I can't say whether it's better to sell or to hold on, it depends how much it's still worth and if you're willing to risk that amount on a chance that it will work out well in the end. I'd sell.
I've bought and sold some crypto. Nothing earth shattering. I've made a couple bucks and lost a couple. Same with cheap stocks. I get a thrill out of gambling too but I would never stake my livelihood on it. I wouldn't take a job where the base comp couldn't support my family, no matter how many options, and I won't risk my mortgages.
https://finance.yahoo.com/chart/XRP-USD
if you entered for quick money, such reward had this risk, revalidate your thesis behind the intrinsic value of the asset and act accordingly
price is low, it's an opportunity to buy more, it'll jump back to its original price