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Showing content with the highest reputation on 05/14/2019 in all areas

  1. Once again people are freaking out because XRP has dropped below the $80 support level. $70 is on the cards in the next few days...and I can only imagine the retail panic if and when we get to that price. Yes, we hit $100 - briefly. We all knew sell orders would kick in and we'd come tumbling back down. We'd been on an incredible run, and we are due a massive correction. It'll happen, people will panic, and I think a year long bear market COULD be on the cards. Don't shoot the messenger, just my opinion. Now I've said that - just breathe in, breathe out. And let me give newer investors a quick history lesson and overview of the last 4 years, and encouraging words. I'll go over some technicals too. Apologies if you already know this, but it's all relevant. The last proper bear market was in 2018 / early 2019. Read that again. Fairly much we've been in a 4 year bull market (we used to call these "runs" as they were so short!). We've had a few bear "seasons" since then, but nothing decent. We've been spoiled rotten. Ever since the SEC gave XRP the green light in September 2019, it's been fireworks ever since. What followed was a cascade of events that were clearly just waiting for the SEC to drop the flag. The biggest reveal was xPool. This blew away the idea that public exchanges would be used for xRapid liquidity, and that banks wouldn't hold XRP. Instead, banks bought up XRP - causing its price to spike up to just under $10 by December 2019 (from a low of 50 cents in September 2019!). Banks used their XRP with a non-public exchange known as xPool. Central banks provided xPool with fiat liquidity. Banks could trade in and out of this single exchange - facilitating cross-border payments. Though non-public, xPool was fully transparent. Every bundled transaction was publicly visible. Transactions were bundled via Cobalt, with each bundle sent as a single transaction via the XRPL - where each bundle was then unpacked on private ledgers to maintain privacy for bank's customers. The transparency of xPool meant that accounting firms could audit everything with certainty (with access to each bank's private ledger too), and that governments had full transparency themselves over every single international payment made. A perfect storm for XRP was brewing. In fact, the demand for XRP became so great - from banks, central banks, institutional investors, retail investors - that XRP quickly overtook BTC and ETH in a huge wave of speculation that saw the space introduce the "XRP dominance" metric....which has never dipped below 50% since late 2019 (as an aside I met someone yesterday who flat-out didn't believe me that we used to have a "BTC dominance" metric!). XRP's price was propelled by one good news story after another. The whales who got in under $1 were waiting for a correction that never came. And so the price just kept climbing. History lesson over. I say all of this because even though XRP is due a big correction, the demand for XRP is only getting started. Microtransactions is where XRP's new wave of demand will come from. Coil is now 5 years old and since its partnership with Google - it's been the number one monetising platform for publishers. Coil has proven that microtransactions have a solid future. Next up will be M2M microtransactions on the ILP which will explode volume by at least x1000 what it is now. You read that right. Furthermore, STOs will finally be bridged via XRP so you can use your STOs to pay for anything - soon you'll be buying your happy meal with your STOs. Not only that, but the fast food restaurant will reward your loyalty by loading up your wallet with some of their own STOs. As mentioned, every transaction bridged by XRP. It's all coming - be prepared for a $1000 XRP in 2026 or so, with a nice long ride up to that price (I might take a quiet moment of reflection when we pass the $589 mark, more experienced readers will know what - or who - I'm referring to here). However, before we see those numbers, I'm sure we're going to revisit a low of $50, so hold on to your hats and do not sell. There's a decent number of whales who got in under $1 and have been waiting for this correction to sell into. Let them sell, let them enjoy their gains. Take a breather, and get ready for the REAL ride.
    11 points
  2. ed1

    Foreshock

    A foreshock is an earthquake that occurs before a larger seismic event (the mainshock) and is related to it in both time and space. What we are seeing today with the price increase but more importantly with the volume explosion is a foreshock of a larger move that is about to happen in XRP. Historically every major parabolic move in XRP has been associated with a volume explosion that accompanies and signals a major shift in price. In April28, 2017 volume was 12M USD with a price of 0.035, next day April 29, 2017 volume exploded to 65M USD (5x), price increased to 0.045 => This was the FORESCHOCK signalling what is about to happen. April 30, 2017 volume went up to 95M USD and price to 0.05 and for a period 4 days with lower volumes around 30M (still 3x April 28, 2017) and a steady price increase toward 0.06 accompanied. This was the period of foreshock. The mainshock began on May 5 lasting until May 18 where the price topped 0.38 a more than 10X increase since the beginning of foreshock, a period that also accompanied a top volume of up to 280M USD on several days and an average of 140M USD across the cycle. A similar pattern can be seen in the foreshock of December 13, 2017 to December 21, 2017. Volume increased by 9X from 140M to 1.3Billion while price appreciated from 0.25 to 0.38, this was the first explosive growth signalling the beginning of FORESCHOCK, for the next 2 days volume continued up towards 5Billion USD on Dec 15th, price went up to 0.84, the next 6 days have seen lower but still above 1Billion volumes (nearly 8x as big as volumes before December 12) and a price stabilization around 0.74. Dec 22nd was the beginning of mainshock with a 5X volume growth from 750M to 3.8Billion volume accompanied by a price increase of almost 50%, the mainshock lasted until Jan 05, with volumes frequently topping 6billion and price reaching above 3$. So, we know that the foreshock comes with a volume explosion and an accompanied price increase of around 28-30%, it sets in with higher volumes for a short few days, stabilizes price increase for a period of 4-6 days and follows this with the mainshock which comes with another volume explosion. Let's look at what happened today: Volume explosion from 1.8B to 5.4B (3x) accompanied by a price increase of about 30% up to 42.5 cents. These two signals match that of the pattern we have seen in previous foreshocks. Let's see if the pattern continues over the next 6 days (2 more days of high volume followed by stabilization), if this occurs we may be looking at a foreshock with the possibility of a new mainshock to follow in a week's time.
    11 points
  3. Yep, the Bakkt announcement and Fidelity are both driving this somewhat! But even if they weren't I could still see a pump like this occurring. The market is like a giant wave pool driven by social proof. Sometimes it's down, sometimes it's up... it's more likely to change than remain stable. TA pretends to turn this into a science, but TA is glorified palm-reading. If it worked, hedge funds would be making 5 percent a day. Maybe at some machine-level of expertise there's a few basis points of preference you could track through past behavior, but it's not going to be visible in a graph. Honestly... this pump is nothing compared to the utility case. You have to remember, any money coming into crypto right now is play money for companies like Fidelity, even if it drives market change. Imagine what happens when core services pass through crypto...
    7 points
  4. For those not wanting to drive in and read everything, these sections stuck out to me.
    7 points
  5. Wall Street could be warming up to cryptocurrencies; however, not any coin/token is being targeted. Bitcoin is preferred but Ripple (XRP) could be a great buy. Presently, evidence is piling up that the stock market is shedding off some of its gains and probably directing it to digital assets... Some quotes: “Money is moving from stocks to digital assets. Traditionally when the stock return outlook is diminished, capital moved into bonds and or / commodities. Now there’s a new kid on the block: digital assets. Wall Street will choose XRP, the greatest digital asset.” “It’s hard to turn your head when you know the White House, Federal Reserve, IMF, and certain banks are currently involved with Ripple. XRP will solve the liquidity crisis not only in this country but worldwide.” Source: http://c.newsnow.co.uk/A/985077510?-41670:27943
    6 points
  6. Julian_Williams

    Foreshock

    We can hope. So far I am just pleased that XRP has had a day when it has outperformed all other major crypto and broken .40. Obviously this was long overdue, but one good day does not make a bull market.
    6 points
  7. The US SEC has been side-lined by other countries because of their 'snails pace'. That is the reason why I am not looking at them for 'market regulation' guidance any more. Take Japan, Luxembourg, Thailand and others and you can see that XRP is 'allround' considered to be a (new class) digital payment token/system. So that discussion is past tense. The market reaction we are seeing now is anticipation building up (all over twitter) about XCurrent 4.0, Bakkt, Fidelity with institutional investors getting ready to place their stakes. This is not a pump. This is the real thing we have all been waiting for, buckle up my friend. Edit: 'hoping that this rise will squeeze out daytraders who are trying to manipulate the price'.
    6 points
  8. I did some more digging around on central bank synchronization. "ILP is really a synchronization protocol." BobWay via XRPchat "The Bank (referring to the Bank of England) is looking to work with a range of organisations, including fintech firms, to explore the demand for introducing synchronised settlement to the renewed RTGS service. At the heart of synchronisation is the concept of ‘atomic settlement’." Published on 13 August 2018 @V8staffie via Twitter on same thread. "Nice find. That is exactly why the term has become so popular. Once you have atomic settlement via two central banks. The game is over. Every other central bank will follow. Otherwise their country would be at a significant disadvantage." -@Bob_Way via twitter responded to that. Link to thread Ripple's game plan? Central bank synchronization is the end game which is enabled by "RippleNet's end-to-end payment synchronization solutions", because as bob said, " once you have atomic settlement via two central banks. The game is over. Every other central bank will follow." Oh yeah.... almost forgot
    6 points
  9. GiddyUp

    Quite in here today

    Our hands are too busy to type
    5 points
  10. ManBearPig

    Cashing Out

    Everyone's plan will be different. Most people will not follow their plan even if they told you what they plan on doing. I think the smart thing to do is dollar cost average on the way in and dollar cost average on the way out. Recover you initial investment at lower prices, even if people are telling you that you are crazy to sell so soon. Have periodic withdrawals from there to help your financial security and financial independence, and of course leave a ultra-long bag on the table for years to come. That is a broadly painted picture of it.
    5 points
  11. Is anyone actually surprised by this? I am incredibly confused by why anyone who is actually looking at crypto as an investment would be so excited about yesterday/todays runup in price. What has changed in the last two weeks that warrants this rise in price? Absolutely nothing is the answer, this is purely FOMO. The day the little yellow line on Galgitron's graph increases is the day I will actually get excited. There is currently one use case for Cryptocurrency, payments for cross-border remittances. This market will comeback down when people are paying $80 in miner's fees to move $500 in bitcoin and those transfers are taking 24+ hours. This pump is a sham, if you believe in the vision of IoV and XRP's roll then nothing matters between now and utility.
    5 points
  12. Yeah man I think the bargain price days are over.
    4 points
  13. xrp_sea

    Cashing Out

    Many people won’t follow through on their own plan though. If someone was originally planning to sell 25% at $10 and the price actually shot up that high, they would probably hold on hoping it would go to $20, $30, ect. It’s the exact same mental defect that causes people sell when the price drops. We’ve all seen those conversations on here.
    4 points
  14. I doubt this is the reason for the pump. Usual media trying to link events up to suit their business model. The pump is pure industry wide speculative trading in my view. Just enjoy the charts and sit back.
    4 points
  15. We never see these low prices again. 2023 Max Verstappen on track for second Formule 1 World Champion 😊
    4 points
  16. I used to have "pent up demand" after visiting the strip clubs when I was younger.
    4 points
  17. This is the third time a friend of mine bailed out thinking he did ok.....he bailed at .33 and I hope it never goes that low again.....hehehe. That will teach him.
    3 points
  18. xrphilosophy

    Foreshock

    Don't know if OP is correct in its prediction, but kudos to accurately representing our xrp volume/price history.
    3 points
  19. Julian_Williams

    Cashing Out

    I think I will take out my purchase expenses to date at about 5 - 10 dollars in stages, but leave the money on the exchange. If the XRP price goes on rising I will push the money back into my bank account and have a holiday. If the price of XRP drops back immediately after I have withdrawn itn it, I will repurchase more XRP at a lower price to increase my holdings and wait for the next rise. I think once XRP proves its utility the speculators will arrive in a steady stream pushing the price up and up. Adoption will happen over many years so the thrust will just go on building over the long adoption period, and perhaps there will not be any more crypto winters for XRP. But this utility driven speculation might not have arrived yet. We may have to wait a few years more before adoption proper drives the price up to $50 plus. But none of this has happened yet. My account is still 10k in the red.
    3 points
  20. Finesse

    Quite in here today

    We all know this is speculation i assume. Im waiting for bank fomo, consumer fomo does not interest me, a 20% rise will be nothing in hindsight.
    3 points
  21. Wall Street won't just "settle" for XRP. They will eventually prefer it.
    3 points
  22. Sponger101

    Cashing Out

    If you pull out your initial investment, what would you do with it?? I'd be too tempted to chuck it all in again as the price re-traces.. Probably too early too! *this assumes you have only invested what you can afford to lose of course.
    3 points
  23. GiddyUp

    Foreshock

    Monster volume, I like it! https://www.worldcoinindex.com/coin/ripple https://fiatleak.com/xrp I love this site, set to display "buy only" very impressive...
    3 points
  24. xrp_sea

    Foreshock

    The volume today is impressive. Good sign indeed.
    3 points
  25. yugioh

    Foreshock

    hope you are right!
    3 points
  26. https://www.coindesk.com/coinbase-opens-up-xrp-trading-for-new-york-residents “After the announcement, the price of XRP jumped over 20 percent to reach a high of $0.39 following the announcement, according to data from CoinMarketCap. However, the surge also coincides with bullish moves from bitcoin in the last 24 hours.”
    3 points
  27. @surfnlive7 thanks man picked some up this morning at .38 thanks to your post. @Caracappa globally there may be some significance as whatever was preventing NY from allowing the trading of XRP has been sorted out and thus removing one or more of the obstacles that are preventing the big money from coming in, ETF's etc.
    3 points
  28. Vol on XRP hitting 5 billion!
    3 points
  29. Haha, sorry I missed that you asked, that is important ofcourse! It's just that I've read the remarks that the XRP run was caused by this. Sounded to me like a 'we need some random good news to pump it up go so let's pick this one'.
    3 points
  30. The volume is insane lol. Good job eric on the call, I’ve been watching for awhile!
    3 points
  31. Well now the Wall Street bonuses can finally flow into crypto.
    3 points
  32. Congratulations New York, welcome to the rest of the world... The pumpers just look for an excuse to push it up, this random news item just happened at the same time they wanted to pump, otherwise they would have picked whatever was happening then.
    3 points
  33. Ah yes, I remember that pretty well. I think XRP was around $15 when the BIS announced further investment of fiat liquidity into xPool - that brought in a new wave of retail investor money. The price looked like it was going up to $30 in no time, and when it hit $20 there was this palpable sense that nothing would stop XRP. And then...7 months of sideways. It confounded everyone and people started to come up with all the theories you mention. Who knows why these things happen, but they can and they will. Now, if only I had a time machine back to 2019...
    3 points
  34. He doesn't actually doesn't predict much of anything. He gives out riddles than an be interpreted 1000s of different ways, so if any 1 of those ways is correct, people claim that he is right. He has made 1 solid prediction of $589 EOY last year and we all know how that turned out.
    3 points
  35. 3 points
  36. FOOD

    BG123 new Reddit update

    ...stupid thing to post?
    3 points
  37. I thought of rebalancing to own at least a bitcoin or two during the 17-18 peaks, and definitely regret not doing so, but doing it now just seems like the dumbest move I could ever make.
    3 points
  38. https://ripple.com/files/xrp_cost_model_paper.pdf. Look @ the last paragraph on page 8. This number could've changed since 2016.
    3 points
  39. I'm not getting into a mud slinging contest. I see the "Pent up demand" as being the Corp desire to run more efficient Treasury Operations. Which is like saying, "demand for savings". Regarding demand for XRP, it will be a derivative of the Treasury savings. Given that the cost of float is measured via interest, which has a cost structure measured in units of time... ...And the fact that RippleNet, which includes XRPL as a component part (thus XRP's utility value as a toll), and the fact that RippleNet can increase the Speed of value movement which is also a measurement of units of time; min/hr/yr... ...Means that there is fundamental value creation, and there is always demand for value creation via savings from efficiency gains.
    3 points
  40. Useful graphic and maybe a good opportunity to de-construct and reassemble our anaylisis. My attempt: DOWNWARD PRESSURE I can't comment on: the Whales, Manipulation and Money because I do not interact with this world which is completely outside my experience. Galgitron is very interesting on how whales work, his point that BTC broke its neck last time it rose in price really impressed me and his idea that their game plan is to suck as much money as possible out of the system looks creditable. It is obvious to everyone that the whales have huge reserves of money and the upswing of price is giving them relatively more money to use, so the imbalance might be worsening? I think the FUD is a negative drag affecting the market and the motives for putting out FUD against an existential threat that XRP poses to the establishment coins like BTC and ETH is obvious. UPWARD PRESSURE News/Announcements, Utility and Money - I can see the News announcements are very impressive but still somewhat hidden behind NDAs and the ambiguity is creating opportunities for Fudests to play their games. Utility is still embryonic (a year off being effective in its own right) and Money coming into XRP obviously not enough. On the money side banks and FIs have the potential funds to overwhelm the negative effects of the whales but at present they are not getting involved. I think this may be because it suits them to keep the price low during the set up phase. For this reason I half expect to wake up one morning and find that the prices have gone boom because banks and FIs have simply taken over the XRP market from the whales I would add that from the bottom we have new players entering on stage for the first time, essentially: Development and roll out and Adoption. It sort of comes under news/announcements, but it is has an extra nuance of a new player that is pro-actively getting involved in creating the conditions for a break out. I think the roll out of XCurrent V4, Ripple advertising and the ability of R3, Temenos, CGI and TCS to introduce and leverage mass adoption are all new on the pitch and game changers. I have no idea when the balance on the field will reverse in favour of our team. I think it might take longer than we expect, but I think the abilities of our side to overwhelm the opposition are inevitable. My experience as a blogger on the right side of the argument but the wrong side of public sentiment is that when things get stuck they get really hard to move. I think XRP is in a bad place at the moment and I would not be surprised if this phase stretches out far longer than we are expecting. I will not take risks or invest in what to me looks like junk. For me it is now about holding my nerve, continuing to buy when I have more money and waiting.
    3 points
  41. @XRPboi I've expected and continue to expect the "then investors pivoted to other coins such as XRP and ETH" trend for some time. "Utility" will be the "safty net". Social Physics is also of a similar approach. Bitcoin's price seems to rise exponentially, not because of computing power increases, but rather because ideas (like bitcoin) spread exponentially through the human network once they take root. This is the same reasoning behind the fundmental valuations of what I call "network companies" growing exponentially also, uber/fbook/goog/ripple...etc
    3 points
  42. It's investment advice from someone high on ketamine.
    2 points
  43. Ten million..i cant remember where i read it though🤔
    2 points
  44. This is pretty exciting. I'm wondering if Agoric will be one of many entities tasked with building out the Codius platform. Thought I would just bring this clip of David at an Unchain Convention (26:42 - 28:18) back in July of 2018.
    2 points
  45. what begins? the dump?
    2 points
  46. XRP is an investment. It's not a cult.
    2 points
  47. Got it. I'm oversensitive on top of losing credibility and being stuck up. Keep those personal attacks coming. Love the gas-lighting too; you personally attack me and then claim I'm 'getting testy'. It's pretty amateur, but still sort of annoying. Good luck.
    2 points
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