I'm sure most of you have seen the news that Grayscale's submission to the SEC for a XRP ETF made some headway.
Now, its nothing to get crazy excited about yet, but atleast creates that there is an actually possibility of it happening one day.
The below is what happened:
The US Securities and Exchange Commission has acknowledged Grayscale’s exchange-traded fund filings for XRP and Dogecoin.
Not my cup of tea...
I have not owned XRP in several years. I just never saw how the argument of the payment system will make the coin more valuable when companies don't need to use the coin to use the service.
Note: I have not refreshed my XRP knowledge in quite some time so if I am off base here someone please school me with current info.
Anyway, at the end of the day I'm a trader and an investor so I pondered if it made sense to put on a low leveraged long in case XRP does by some wild chance get an ETF approved.
Looking at the chart it has carved out a nice base and if an alt market ever kicks in this year price could just go up from that.
Getting long here or preferably down at 2.30 makes for a solid risk-reward. Put a stop in just below $2. Risk 30-60 cents to make potentially a couple dollars on the upside.
I don't know, maybe. We'll see if it gets toward 2.30, like the gamble there much better.
