Should I give up on waitlist?

I have a full ride to both Elon and VCU, I still can’t decide which school to go to because I had my heart was set on University of Richmond but I ended up getting waitlisted so right now I am focused on keeping them updated (sending info) and praying I get selected off the waitlist.

I just want an honest answer please. Am I just wasting my time instead of making a decision between the schools where I already got in? I want to go to Richmond badly but how realistic are my chances really? I dont have any previous stats about their previous waitlists or anything? I just want to know If I should disregard it if there is no real chance? I really dont want to waste my time.

Key things to note:
I do need financial aid & they’re only need-blind during regular decision
since applying I have gotten straight A’s all of senior year (4.6 gpa), Elon Odessy scholar (full ride), Dell Scholarship Semi finalist
however, overall gpa (3.3) I am not competitive compared to their averages but I doesn’t suppose that matters anymore since they waitlisted me and not reject

If you think I should continue to pursue this, what is the best way to go about this and maximize my chances

The letter is a good idea, and you should do it especially since it is your top choice school. However, I will note that the University of Richmond’s waitlist is very difficult to get out of (60 out of 1,236 students, or ~4.85%). Therefore, you should write the letter to Richmond then send in your SIR to one of the schools that have accepted you (which you should do regardless of how difficult the waitlist is to get off of). That way, you still demonstrated your interest in the school, but you have a back-up plan and somewhere to go in the likely scenario that you don’t end up there.

You are definitely not wasting your time deciding between the two schools you have been accepted to and can afford. It is fine to accept the waitlist spot at UR and write a letter of continuing interest…but you must move ahead assuming that you UR is out of the picture. Congrats on your two very nice and affordable options.