Ripple, the cross-border payment firm, is still in the middle of the legal battle with the United States Securities and Exchange Commission (SEC), over the securities status of the digital token XRP.
This legal battle has obviously been affecting the growth of XRP price since the lawsuit filed by the SEC was brought to public notice.
Despite the lethargic growth displayed by XRP, many of its holders remained unshaken, hoping for a significant boost in the price of the cryptocurrency once Ripple makes headway in the ongoing legal tussle.
However, this seems to be backfiring as a stern member of the XRP community is starting to regret his decision to stick to only XRP, rather than diversifying his crypto portfolio when it was necessary.
XRP Investor Regrets Failure to Diversify His Crypto Portfolio
The pseudonymous XRP investor known as KingSolomon on Twitter is a popular name within the XRP community. He recently took to Twitter to divulge his mistake of fully trusting the digital token without giving other cryptocurrencies the benefit of doubt.
In the tweet that has since garnered reactions, he said he would have been fabulously rich if had not held too much of XRP, warning others not to make such a mistake.
KingSolomon tweeted, “I would legitimately (not lying at all) be a fucking millionaire right now if I would have diversified more and not held so much XRP. That being said I chose to diversify in November and STILL HOLD xrp by using research metrics similar. This should be a lesson for everyone.”
I would legitimately (not lying at all) be a fucking millionaire right now if I would have diversified more and not held so much XRP.
That being said I chose to diversify in November and STILL HOLD xrp by using research metrics similar.
This should be a lesson for everyone.
— 🌋KingSolomon🌋 (@XRP_OWL) March 15, 2021
Truth be told, various cryptocurrencies, including the little-known, have leveraged the current bull market to add billions of dollars to their market capitalization. But the growth of XRP is seemingly withheld by the challenging securities lawsuit against Ripple.
Meanwhile, Attorney Jeremy Hogan has predicted the timeframe for the case while responding to a user’s inquiry in relation to the lawsuit on Twitter.
Jeremy Hogan said, “Sept/Oct – depends on how the Judge does the briefing schedule.”
Sept/Oct – depends on how the Judge does the briefing schedule.
— Jeremy Hogan (@attorneyjeremy) March 11, 2021
Expectedly, the trend of the case will either make or mar the status of XRP in the market. But many are optimistic that the newly appointed SEC Chairman, Gary Gensler, would withdrawal the suit to save the teeming XRP investors.