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Ripple CTO Responds to Investor Who Claimed to Hold XRP for Seven Years Without Profit

Ripple's CTO addresses concerns of an investor who claims to have held XRP for seven years without making profit.

Ripple XRP

Ripple’s chief technology officer (CTO), David Schwartz, has recently responded to an XRP investor who complained about holding the cryptocurrency for seven years without making any profit. The investor with the username Mr_Karipple had taken to X (formerly Twitter) to express his concern on the allegedly failed XRP investment.

According to the investor, they have always made fun of others for putting money into so-called shitcoins. yet they had failed to turn a profit while holding XRP, which some consider a superior asset in the crypto space. XRP is ranked among the top seven cryptocurrencies, and had once overtaken Ethereum in second place.

Ripple’s CTO replied to the troubled investor in an attempt to prove that one would have turned profitable if they held XRP over such a long timeframe. Precisely, David Schwartz noted that XRP’s price on the same date in 2017 (seven years ago) was around $0.033. Given that XRP is currently trading at $0.54, such an investment would have yielded an over 1500% return for the investor and an average of 47% in yearly returns.

Evidently, the Ripple CTO’s response sought to reassure investors that XRP delivers substantial returns in the long term. However, further comments from the troubled investor suggest that they may have indeed failed to make a profit on XRP despite holding it for so long.

XRP Investor Bought The Top in 2018

In a follow-up comment, the XRP investor shared further details on his investment, revealing he bought the coin in January 2018 after it hit its current all-time high of $3.84. When the price of XRP dropped to $1.25, he made his first purchase, which was followed by another buy at $0.78, and subsequently put more money into the cryptocurrency.

Admittedly, XRP has struggled to revisit the price range near the investor’s entry price. While XRP did manage a price as high as $1.55 in April 2021, the run was shortlived, and the asset’s returns paled in comparison to other major cryptocurrencies.

Overall, the investor’s concerns demonstrate the reason why investors most only invest an amount they can afford to lose. Additionally, investment decisions, especially in the cryptocurrency space, should be made only after adequate research and conviction on a project’s long-term prospects.

Wilfred Michael

Wilfred Michael is a highly experienced cryptocurrency journo. He has spent more than five years covering this exciting new technological space, and relishes the opportunity to play a role in driving what he considers to be the future of finance.