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XRP Is The Crypto To Watch, Says Vegas Blackjack Pro

Steve played on one of the MIT blackjack teams that profited mightily off of Las Vegas 21 tables in the 90’s. He’s one of the few people I know with both an MBA and an MD. Recently, he offered his medical expertise at a Clark County medical facility dealing with Covid-19 patients.

These days he spends time using his knowledge of odds and probabilities looking for inefficiencies and edges in Vegas table games and other betting offerings. So, when we talked last week I was surprised when he asked me about the cryptocurrency known as XRP.

I told him all I really know is that it went way up in price and then came way back down. Since Steve spends a lot of effort analyzing what might work probabilistically in Sin City, we ended up having a conversation about his interest in that particular crypto.

Here’s how it went:

John Navin: What makes XRP different from other cryptocurrencies?

Steve: XRP is designed to be an instant funds transfer application. It is attempting to take over all retail transactions and swift international money transfers. If you transfer money now internationally it takes a few days to receive and has fees associated with it.

XRP is instant and at a very low cost. In short, it has a functional use. Right now price is increasing on demand alone and its application has not been adopted to any great degree. When this happens there will be significant gains.

Navin: Do you have price targets for XRP? 

Steve: It’s designed to have a value of 10,000 per coin. This assumes every retail transaction and international currency transfer uses XRP. This is very optimistic and a long way off. As it goes up I will take some profits at certain times, but I don’t have a targeted price to sell all of it.

Navin: Do you have stop loss prices for XRP?

Steve: Like any investment this relies on an investor’s current financial position. Right now I am in wait and see mode.

Navin: How long do you plan to hold and why that long?

Steve: When I made the purchase of the coins I was in to for the long term. At least 5 years. 

Navin: What other cryptocurrencies do you hold and why?

Steve: I do hold a few other crypto currencies. In short I look for value. Each coin has a functional use and that’s what I evaluate. How will the technology play into the future is what I ask my self. It sounds nuts but I like to watch futuristic movies from the 80s and 90s and if I see the tech there … it gives me the impression that people expect to see it in the future.

 Navin: What other investments do you hold, non-crypto?

Steve: I’ve moved most of my assets into cash and am looking for opportunities. Until the current social climate settles down I don’t plan on moving any assets into the markets.

For more about Steve read Interview With A Blackjack Pro: ‘I Still Win Playing 21 In Las Vegas.’

To read about a similar experience, take a look at The Math Professor Who Beat Las Vegas And Wall Street.

I do not hold positions in these investments. No recommendations are made one way or the other.  If you’re an investor, you’d want to look much deeper into each of these situations. You can lose money trading or investing in stocks and other instruments. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor.

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