It Takes Serious Conviction or Mental Illness to Hold XRP to $1,000, Expert Says

Pro-XRP software engineer Vincent Van Code recently sparked a discussion about the psychological challenge of holding volatile assets like XRP.

Van Code pointed out that while investors often dream of huge profits like turning $1 into millions, the reality is that most people tend to sell even with modest price increases.

Indeed, some Bitcoin whales have recently awakened after more than a decade of inactivity to cash out millions or even billions from investments often under $1,000.

On the flip side, there are numerous cases of people who sold large amounts of Bitcoin before its massive rally. One of the most well-known examples is the Frenchman who spent 10,000 BTC on pizza.

Van Code emphasized that holding from modest prices over many years through intense volatility, like Bitcoin’s drop from $10,000 to $1,000 before spiking again takes far more than luck.

According to him, enduring such swings without selling requires a mindset that some might even consider “mentally unstable.”

Can You Hold XRP Until $1,000 or $10,000?

Van Code argued that while many claim they’ll hold XRP until it hits $1,000 or even $10,000 per coin, most would sell long before, tempted by the opportunity to buy luxury items like cars or houses.

Notably, one of the more optimistic projections for XRP to reach $1,000 comes from Changelly, which suggests it could happen by 2040.

Given that XRP is currently trading under $3, holding for 15 years would be a major psychological challenge for most especially since crypto prices rarely move in a straight line. Specifically, significant crashes often follow big gains.

This was clearly illustrated in 2018 when XRP’s price crashed over 95% after peaking above $3. As many investors would try to cut their losses during the downturn it only accelerated the drop.

Now that XRP is nearing its 2018 peak again, those who sold during the dip may be regretting their decision.

As Van Code puts it, maintaining long-term conviction through extreme market volatility requires tremendous emotional strength.

“Not Selling XRP Even at $10,000”

Another crypto investor, TheXFactor33, echoed Van Code’s sentiments. He acknowledged that while initial conviction may be strong, it’s often tested when prices crash.

TheXFactor33, who has held XRP for over eight years, admits he’s weathered numerous market crashes and remains committed to his long-term strategy.

In a reply to a seperate comment, Van Code stated that he had already mentally written off his XRP investment:

“The money is no longer on my balance sheet,” he said, emphasizing that he wouldn’t sell, even if XRP hit $10,000.

Instead, his goal is to hold until he can use the investment to secure a meaningful future, such as purchasing a home for his children.

This mindset reflects that of “diamond-handed” investors who refuse to sell regardless of market ups and downs.