Wednesday , August 10 2022

Millennial Buys Ripple With A Loan He Can't Cost


From CCN Markets: A Twitter user, who goes by the name of @ XRPBallzD33p, told his followers last month that he was heading all the way to his investment in Ripple (XRP). Or to use the speech of our times, he went deep into BALLZ.

So deep, in fact, that he took out a loan he couldn't pay off just to get a piece of that XRP pie. As the supportive Ripple supporter tweeted on July 27:

That was when the price XRP currency sat between $ 0.40 and $ 0.46. Unfortunately in the three weeks since then XRP has done nothing but sin. The currency's losses even began to outstrip those of its peers when the stock market crashed on August 14 – possibly in connection with the recently changed complaint, which now demands a response from Ripple Inc.

Taking the average of the XRP price on July 27, the XRP bags purchased by @ XRPBallzD33p have now dropped by less than over 40%, based on the purchase price. Today the price XRP currency is found trading at the $ 0.26 range.

Ripple Faithful: If You Go Through Hell, Go On

iterative (XRP) price chart.
XRP Phoenix's risk bet on Ripple doesn't exactly pay off – so far anyway. | Source: TradingView

The market crash of August 14 was met with a response from @ XRPBallzD33p, as he updated his followers on the status of his investment. His plan? Buy more XRP at its now reduced price:

This display of unwavering loyalty to a particular currency is not uncommon in the cryptocurrency space – not the slightest. Likewise, many are convinced that the market is headed for the moon, even if they lose those and the mass volume decreases.

Despite the recent decline, even the CEO of the world's largest cryptocurrency exchange maintains a bullish stance. Binance's Changpeng Zhao (CZ) is still begging those who sold their Bitcoin under the $ 10k mark.

He retweeted it again on August 16, with Bitcoin down 26% in the past eight weeks, and struggled to recover from an additional nine-day 20% decrease, which took the bitcoin price to as low as $ 9,682, according to CoinMarketCap.

The owner of an exchange crypto currency might have good reasons to maintain a bullish stance. But as for the generous disabled faithful on the ground … will their faith pay back?

Click here for a real-time Ripple (XRP) price chart.

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