On January 6, 2018, XRP hit $2.4 billion in trading volume as the price swung wildly. Some buyers at $3 per token watched it crash to $0.30, while others made money on the same move. The speaker argues crypto's extreme volatility creates both fortunes and bankruptcies.
Every crypto in this top 100 has made people rich and made other people broke. Because the same way, uh, that people got rich on this pump, they also got broke on this pump. Because who was buying up here? I always point this out, right? Take a look at this. How much volume was done on that day, January 6, 2018? Um, wow, that's coming up. Interesting. Cool. That's the, like, the, um, anniversary of this major pump we had. $2.4 billion worth of volume going back and forth. People buying and selling. The certain people not selling. Certain people kept holding. They bought at $3 and they rode it all the way down to 30 cents. Imagine how you'd feel about XRP right there. So you really have to zoom it out. And realize that this thing has made people rich and broke already.
