Benzinga – A TikTok personality, known as Money_talk_tok, is at a loss after investing $500,000 in XRP (CRYPTO: XRP), 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.”
Current spot rates indicate that the influencer is losing more than $150,000, with XRP trading at $0.47 per coin, a 30% drop from the time of his investment.
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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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