Can The TikToker Who Mortgaged His House For $500K And Put It All In Ripple-Backed XRP Finally Break Even?

A TikTok personality, known as Money_talk_tok, is at a loss after investing $500,000 in XRP XRP/USD, the native token of Ripple.

What Happened: The TikToker mortgaged his home and shared his plan of investing the entire amount in XRP with his more than 50,000 followers on February 24, 2022.

At the time of the investment, XRP was trading at $0.69, and the Fear & Greed Index suggested a market sentiment of “23.”

However, the market sentiment did not stop the influencer from doubling down and investing his entire capital in cryptocurrency.

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Why It Matters: After conducting a sentimental analysis of the market, Money_talk_tok believed that XRP had hit the bottom and would bounce back, leading him to invest the entire $500,000 in XRP in the hopes of gaining big profits when the market regained its value. He relied on the adage of being “greedy when others were fearful.”

Spot rates in May indicated that the influencer was losing more than $150,000, with XRP trading at $0.47 per coin, a 30% drop from the time of his investment. However, XRP has seen somewhat of a recovery lately, especially after a court ruling that XRP wasn't necessarily a security.

At the time of writing, XRP traded at nearly $0.62 per coin. This means the TikToker is currently sitting at a loss of only about $51,000. Even if he didn't make a profit, break-even could be within his grasp.

This story was originally published on May. 29, 2023.

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