Over the past two days, over $620 million of highly leveraged XRP traders’ positions have been liquidated as XRP enthusiasts become extremely bullish on the recent rally, while David Schwartz, chief technology officer at rippleCrypto holders were reached with advice to sell some of their crypto assets and reduce their exposure to market volatility.
Of the $620 million of liquidations on April 13-14, 80% were long, which means traders were hoping for XRP to continue its rally. XRP, which ranks fourth by market capitalization, crossed $1.9 yesterday before correcting to $1.62. At 10:06 UTC, it is trading at $1.7 which is down 4% on the day, trimming its weekly gain to less than 88%. The price is up almost 296% in a month and 829% in a year.
Meanwhile, after Suggestion That crypto investors should reduce their risk by selling some of their coins and making a profit if they have “life-changing amounts of crypto” earlier this week, and today, Schwartz addressed the “bullshit” that you can’t lose money if you don’t Don’t sell.”
“So if you buy 1,000 USD cryptocurrencies and their price drops to 500 USD, you will go from neither better nor worse than someone with 1,000 USD to no better and not worse than someone with 500 USD. Losing money is absolutely absurd,” Schwartz said. .
Schwartz’s advice earned him some praise among commentators on cryptocurrency.
This isn’t the first time Schwartz has shared his thoughts on investing in cryptocurrencies. Last November, he admitted to investing his own money in more than 11 coins that have since fallen in value. Schwartz realized that he lost money “totally” in cryptocurrency trading, but the number was “not as much as I did.”
Also, it was previously I confess He sold all of his Ethereum (ETH) for $40,000 to put solar panels in his house before the start of the race that would raise the value of his cryptocurrency to about $40 million.
“I still don’t really understand why I sold all of it. I guess I was thinking it would go back down and I would repurchase. But it didn’t. You can regret taking the risk a bit too, of course” He said.
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