Should I wait and hodl or pull out and do something else?
You are definitely new in the game. In a year you will find few times the ALTs will pump no guarantee although. I suggest do your best researching why the coins are dropping. If you find valid reasons then try to settle even in lose. If you find it's just because for the current market situation then hold.
Most of the ALTs do not have any dollar value so they always follow the price of BTC. When BTC pumps they stay still then when BTC settles after the pump then the ALTs starts to pump and vice versa. I have seen it from my experience.
It really is your own decision what to do. Always invest that you can afford to lose. Be patience and strategic in your investment. Do not get FOMOed or run after FUD.
And by the way you are not alone. This situation is very common and will continue until Bitcoin again hits around 20k (My guess by the way)
it seems that you are not alone in facing this situation, I am too, even my friend is worse...
Lastly, know that I am still bag holding a couple of alts from last year some of which I have had for 10 months now (and don't know when I can get rid of but will wait it out).
-These are just some example picks.
XRP was a manipulated coin that is why you have lost a lot with this coin.
- I am on the same page like you. It's a centralised coin for the Banking system
Many altcoin project still have good future such as Eth, Neo, Iota, etc. So, you just need to waiting it or buying some other prospect coins that will recover your loss.
-Ada, wabi, UTK, DBC are also some good project in my opinion. Reality is except few like ETH, NEO all other coins are in relatively in deep. It's time to buy not to sell.