Hashtag XRP Goals
First off, I would like to honor the Bryant family and mention those who lost their lives in the helicopter tragedy yesterday. I was shocked when I saw the news and it really effected my emotions throughout the evening and into today. Loss puts life into perspective, making us realize how petty we can act over the small things and completely miss the major things that really matter. I can't imagine the pain your family is experiencing. Praying for you all, even though you won't view this message.
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XRP is the #3 cryptocurrency by market cap as of January 2020. As far as I know, the digital asset and technology that Ripple has built around it, solves the most real-world problems to date in the space. To say that I am confident in the future of this asset is an understatement as there are too many facts to back up it's validity. The question you need to ask yourself is, will you choose to believe the naysayers' mud-slinging or your own fact-based research?
Have you ever seen the memes or GIFs circulating social media centered around the hashtag, goals? The ones that I have seen are #couplesgoals and #fitnessgoals, I'm sure there are others. I even saw a video where a fitness couple were doing exercises, then it would cut over to an average couple trying the same exercises which was quite comical. The average couple was having a tough time keeping up.
Here is an example a photo that I saw recently:
It would be hard to imagine my wife and I achieving a feat such as this, but hey, I'm not ruling it out by any means (who am I kidding, this is how we celebrate once the kids are in bed for the night). Showcasing the meme above was to illustrate an important point which is this...
it is important to have goals, or a vision of where you want to end up in a specific area of your life.
Let's transition and talk about XRP. We know that today, the blazing fast digital asset is being used to help facilitate transactions by over 2 dozen customers around the world, and RippleNet is being used by over 300 customers globally. If you have been studying the blockchain space since pre-bull run season (December 2017), then you understand the importance of holding your assets, even during a bear market.
Have you ever thought about how much XRP you want to accumulate and how quickly you want to do it? The same way that one would have diet goals, relationship goals, and fitness goals, it is also important to know where you are headed as a retail investor in cryptocurrency. Right now, the price of XRP is under $0.25, which in my opinion is an excellent entry point, even for seasoned investors.
(I'm not a financial adviser, but if I was I'd be excited because I could further diversify my client's portfolios with a non-correlated asset class)
#XRPGOALS
When I think of XRP goals, a well-crafted chart comes to mind by none other than talented coding expert, Wietse Wind. The chart comes from a website of Wietse's called ledger.exposed, detailing the top 10% of accounts on the XRP Ledger calculated by their respective balances.
Note: Locked XRP in escrow by Ripple has been excluded from these statistics. Source
As you can see from the above chart, it would take a balance of equal to or greater than 2,738 XRP to claim a top 10% spot. If, right now, you have at least 2,738 XRP in 1 account, then congrats, your account has made into the top 10% of all existing accounts on the XRP Ledger.
What is your goal? Where would you ultimately like to end up in your crypto journey? Would you be happy to land in the top 10% and call it a day? Perhaps you'd be perfectly content with that number and that is great. Maybe you want to take it a step further and find yourself in the top 5% of accounts. That would mean you would need to accumulate a minimum of 10,000 XRP.
Again, these numbers aren't perfect. They only tell you the percentage of single accounts, not taking into consideration a person with 10 accounts each holding 5,000 XRP. Even so, looking at this chart gives you an idea of where you stand on the XRP totem pole. To find out a more precise idea of where you stand, visit this section of the website known as the richlist index.
Can you imagine reaching the top 0.01% of accounts? If you look, that would mean accumulating a minimum of 16.9 million XRP. While it is a good idea to have a number in mind for your personal holdings, 16.9 million might be a bit out of reach, even for the wealthy. Dream big, but also drop a few reality sprinkles on that cupcake.
The amount of XRP you will want to own is going to depend on what you want to accomplish in life and what you see the potential value of XRP being years down the road. Your specific amount is also going to depend on how much cash you're willing to part with or how much time/energy you're willing to give in order to earn more assets.
So what's your number? No need to tell me, but keep it in your mind or jot it down on a post-it note. Stick it on your bedside table as a daily reminder of where you are headed as a retail investor. Again, XRP prices are ridiculously low in my opinion, just act with diligence and consistency to continually fill your bag week after week, month after month.
Noteworthy articles:
Ripple Pulse – Regulatory Clarity
First Non-Correlated Asset Class in 4 Centuries
Ripple Sets the Example for Retail Investors
Discover how much XRP I would like to accumulate...
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