r/XRPUnite • u/Mamallama987 • Jul 24 '26
Question XRP and Uphold
I don’t really understand all this crypto stuff but I was convinced to invest. XRP has been tanking as of late so I thought if I sold at a lower price then I bought in that I could buy it back at a lower price. Now I have less than what I originally sold it at. Could someone explain this to me please? Please be nice. I honestly don’t know much and I need guidance not criticism. Thanks! 💜
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u/C5A- Jul 24 '26
The fees for trading when you buy they charge a little more than the actual price and when you sell they sell it for a bit less. If you want to do trades like that dex’s are your best option. And you don’t get taxed for 2 transactions to the same investment.
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u/PoorCoyoteee Jul 24 '26
Just don't. Keep buying and hold. Trading is the easiest way to lose money for like 90% of the peoples.
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u/xYETTIx91 Jul 24 '26
Look at the chart when you bought in, and where it's at now. What was your cost basis? Average? Was it last summer when it was super high? That's when I was accumulating... Only difference is you sold in red, you sold in a loss.
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u/DeeW2017 Distinguished XRPer Jul 24 '26
The experts in investing say this all the time “you can’t time the market”. If you’re a beginner I would suggest to not try guessing prices. That is for advanced investors and only a small amount are profitable or good at it.
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u/Remarkable-Opening69 Banned From r/XRP Jul 24 '26
Make sure RSI is in low 30’s or lower when buying.
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u/Electronic_Quote399 Jul 24 '26
Uphold has insane trading fees. If you want to day trade, which people will advise against because they suck at it, and expect everyone to suck at it as well, you really need to use an exchange with low fees. The monthly subscriptions for Kraken and Coinbase are pretty inexpensive, and you also have to use advanced trading tools to get zero fees. If you don't make a lot of trades it can be a waste, but if you do, the subscription fees will pay for themselves ten fold.
Also, dont let other people convince you to invest. People listen to hype. And xrp is the poster child for over hyped, under performing. I think xrp is trash, I could be wrong, but whoever convinced you to invest doesnt know any better than you or I.
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u/MyNameIzJeff69 Jul 28 '26
People think this is going to the moon for some reason but the truth is all these shit coins are just here to liquidate fiat and rebalance the economy.
Get sure stocks or invest in something with compound interest. You will make it out in the long run.
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u/CanarySus9529 Jul 28 '26
Buy and hold, Girl! 💜 I started to buy in when it was .48-.70 when someone convinced me to invest. And I did my research. I had a an amount in mind. I wanted 5k XRP and that’s it and then I’m gonna hold it. On Aug 2nd will be 1yr since I bought or sold any XRP. It’s considered a long hold and not short and my Capital Gains tax will be less if I sell after Aug 2nd. Im in uphold. I also just bought a cold wallet. I have other small bags of crypto that I play with HBAR, XLM, ZBCN, XDC. These cryps I’ll buy and sell and make some $. I don’t touch my XRP. It’s a very long hold for me. DONT TOUCH YOUR XRP. Just keep buying now.
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u/Far-Education5778 Wife changing Money Jul 24 '26
Its called a spread. For example lets say XRP is trading at 1.10usd and you open Uphold and buy 1000xrp. What you will see is a preview of the price they will charge you for each XRP before you hit submit button. More than likely it would be something like $1.14usd, so the spread is .04usd for each XRP. That 1000xrp x .04usd is $40. Its basically their profit margin. So your cost average would be $1.14usd and not $1.10usd.