{"id":46755,"date":"2025-02-21T19:10:18","date_gmt":"2025-02-21T19:10:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=46755"},"modified":"2025-02-21T19:10:18","modified_gmt":"2025-02-21T19:10:18","slug":"6-reasons-why-this-finance-expert-dumped-his-ripple-xrp-holdings","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=46755","title":{"rendered":"6 Reasons Why This Finance Expert Dumped His Ripple (XRP) Holdings"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Finance expert Gary Cardone sold his XRP positions, citing unclear supply\/demand dynamics, skepticism toward the Ripple community, and other reasons.<\/span>
\nDespite his concerns, the potential approval of a spot XRP ETF in the US and the ongoing Ripple-SEC lawsuit developments, could create significant upside for the asset\u2019s price.<\/p>\n

<\/a><\/span><\/h2>\n

\u2018Never Follow the Crowd\u2019<\/h2>\n

The Ripple community comprises millions of investors and is among the strongest in the crypto industry. However, one of those recently decided to sell his XRP positions.<\/span><\/p>\n

The person in question is the finance expert Gary Cardone. He <\/span>revealed<\/span><\/a> to his 76,000 followers on X that he dumped his XRP holdings when the asset\u2019s price was hovering at $2.71. The American also outlined six reasons driving his choice.\u00a0<\/span><\/p>\n

First, he said he doesn\u2019t understand the asset\u2019s supply\/demand dynamics. To the uninitiated, XRP has a total supply of 100 billion coins, 57% of which are currently in circulation. Ripple Labs holds a significant amount of tokens and releases 1 billion tokens each month via its escrow system.\u00a0<\/span><\/p>\n

Second, Cardone claimed others couldn\u2019t explain those dynamics in \u201ca very understandable way\u201d and couldn\u2019t draw it on a whiteboard.<\/span><\/p>\n

Third, he thinks people should <\/span>stay away from<\/span> an ecosystem full of people who \u201cknow the price of everything, but the value of nothing.\u201d <\/span>It is worth noting that the Ripple community is indeed full of members who <\/span>mak<\/span><\/a>e<\/a> ridiculous price predictions that are not based on technical analysis or any <\/span>sort of<\/span> thorough research.<\/span>\u00a0<\/span><\/p>\n

Forth<\/span>, the finance expert warned investors never to confuse short-term noise with a long-term investment\/plan\/goal.\u00a0<\/span><\/p>\n

His fifth reason states that \u201creal wealth <\/span>is made<\/span> by highly consolidated bets and investments that <\/span>are made<\/span> over long <\/span>periods of time<\/span>.\u201d Lastly, he argued that people should \u201cnever follow the crowd.\u201d\u00a0<\/span><\/p>\n

Yes, But<\/span>\u2026<\/span><\/h2>\n

Contrary to Cordone\u2019s reasons, <\/span>there are some factors that suggest<\/span> exiting the ecosystem right now might not be the wisest move.<\/span>\u00a0<\/span><\/p>\n

First, we have a bunch of well-known companies, such as Grayscale, Bitwise, and 21Shares, competing to launch the first spot XRP ETF in the United States. The investment vehicle (if approved) will allow investors to gain exposure to the asset without having to purchase it from exchanges and worry about self-custody.\u00a0<\/span><\/p>\n

The US SEC has already acknowledged<\/a> those applications. Furthermore, it recently <\/span>posted<\/span><\/a> Grayscale\u2019s filing to the Federal Register, which means it has to give its final say on the product by October 18.\u00a0<\/span><\/p>\n

Next on the list is the potential resolution of the lawsuit between Ripple and the US SEC. The entities have been confronting <\/span>the legal front for over four years, but some partial court victories and developments seemingly tipped the scales in favor of the company.<\/span><\/p>\n

It is important to note that the SEC\u2019s anti-crypto Chairman, Gary Gensler,\u00a0resigned<\/a> a month ago and was succeeded by Mark Uyeda, who has a much different stance on the digital asset industry.<\/span><\/p>\n

Earlier today (February 21), Coinbase\u2019s CEO Brian Armstrong <\/span>announced<\/span><\/a> that his firm <\/span>reached an agreement<\/span> with the securities regulator to dismiss their case. The XRP Army celebrated the news, <\/span>arguing<\/span><\/a> that the <\/span>next<\/span> dropped lawsuit could be against Ripple.\u00a0<\/span><\/p>\n

The post 6 Reasons Why This Finance Expert Dumped His Ripple (XRP) Holdings<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Finance expert Gary Cardone sold his XRP positions, citing unclear supply\/demand dynamics, skepticism toward the Ripple community, and other reasons. Despite his concerns, the potential approval of a spot XRP ETF in the US and the ongoing Ripple-SEC lawsuit developments, could create significant upside for the asset\u2019s price. \u2018Never Follow the Crowd\u2019 The Ripple […]<\/p>\n","protected":false},"author":0,"featured_media":46756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-46755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/46755"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46755"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/46755\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/46756"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}