I saw this comment on Rob Art's youtube video regarding $589+ and I wondered if any of those more familiar with TA would be able to advise the legitimacy?
Hello Rob Art
I have recently posted the below for Jungle Inc and as you have also touched on this subject, then i would like you to consider these facts before stating that XRP will take extreme amounts of money to reach $589. Please take particular note of the section where i show on the Bittrex Exchange that transacting small amounts of money can push up the price dramatically. Please do not be fooled into thinking that it will take 'Billions of Dollars' to force the price of XRP to the extremes - it will not. I wanted to say thank you for making a video that does not berate others for suggesting a price of $589 as many others have. I have posted many comments explaining why, in my professional opinion, XRP can reach very high numbers dramatically faster than any other coin which is currently on the market.
As you have opened this discussion, i wanted to go through the simplification of this process so you may hopefully share this information and thus see for yourself (a confirmation if you will) of how this will be achieved. As you know, Ripple have now partnered with a number of exchanges around the world and surely this number will grow. This network of liquidity providers will become the go-to place for buy/sell for Retail Market Makers as these are the exchanges that are servicing transactions for the payment flows of the institutions. If an exchange is not within this liquidity network, then the XRP on these exchanges will drain away as Retail investors begin to move their XRP onto the platform.
This will happen due to either: 1) Arbitrage - although other exchanges will not let the price fluctuate too much so as not to miss out on the higher prices 2) Natural migration to preferred exchanges for rapid buy/sell opportunities As one can expect, no exchange will want to miss out on the potential for making money where servicing XRP transactions would provide a healthy income stream for the exchange. Unfortunately, most exchanges are simply not large enough with enough capital backing for Ripple to sign them as a preferred exchange. Now, onto the method of price increase which i believe will occur. We can guarantee that the spread on the exchange for XRP will be extremely tight so as to ensure near perfect entry and exit from the Ripple Preferred Partner Solution (RPPS from now on). The RPPS consortium will also be working within a framework that will ensure co-ordinated price movement of XRP to eliminate arbitrage trading from XRP/FIAT pairs which will then obviously filter into the USDT/BTC markets on these exchanges (thats even if they still exist at this point). It will be a requirement that these 3rd party pairs will need to decouple from XRP so as to ensure that extreme price fluctuations in BTC will never impact the price of XRP. Even a price drop of $0.01 cent will have a dramatic impact on the movement of value when we are talking about Millions of Dollars. Now, we know that members of RPPS have been (and continue to be) pre-funded with XRP so they may service the xRapid transactions. This pre-funding is necessary to guarantee transactions made by Financial Institutions, we can't have any of the transactions fail due to lack of XRP liquidity!
These exchanges will also be reliant of the XRP provided by Market Makers to bolster the XRP liquidity thus adding to the exchange total supply. Now, the exchanges will prefer (at first) to use the XRP from Market Makers to increase the price of the XRP Coin. Why do i say this? Because it simply makes sense to use the immediately available XRP to raise the price in a dramatic fashion. This then increases the Exchange reserve pool that 'must' service the transaction requests, but now it has been increased dramatically... let me explain:
- Bittrex Order book currently shows that from $0.27 cents to $1.49 totals $47,078 Dollars through XRP/FIAT pairing (which is the same channel that will be used by RPPS) - Simply transacting $47,078 at this point will instantly push the price of XRP to $1.49 -
- Bittrex Order book currently shows that from $0.27 cents to $25 totals $3,651,361 Dollars - Transacting $3,651,361 Dollars at this point will instantly push the price of XRP to $25
- Bittrex Order book currently shows that from $0.27 cents to $100 totals $3,743,466 Dollars - Transacting $3,743,466 Dollars at this point will instantly push the price of XRP to $100
Now the XRP price numbers get much higher than this if you take a look for yourself, but it makes sense to use these orders to push up the price in a dramatic fashion so as to provide a stable pool of XRP liquidity to service further Institutions and FX transfer. The Exchange at this point can then create large Buy/Sell walls at either side (in the magnitude of 10's of Millions of XRP) from their very own supply to ensure price stability. By performing this simple manoeuvre, the exchange can not be accused of XRP price manipulation as the Retail orders where filled first and then the exchange stepped in to service the rest of the transactions. I mention the phrase 'at this point' due to the fact that no Retail Investor knows when xRapid is going to go live, so this can in fact happen at any time, and Ripple needs it to remain this way. By ensuring this they can guarantee a 'one time' rapid price increase that professional investors will also be glad of. They will want to ensure, in fact 'guarantee', that Market Makers are then priced out of the market and those who are intelligent enough to have already purchased will be flocking to sell their XRP in an instant. They will need to sell at a lower rate to ensure the sell of their coins as placing them in a pool of 10's of millions of XRP will not fill their order immediately.
I know this seems such a simple process to be believable, but make no mistake this is what 'will' happen, and it will be happening all over the world on the RPPS at the same time as all XRP Liquidity providers will begin tight alinement regards XRP price. NB - I wanted to add the figure for you which is an easy to understand number that will guarantee a price of $500 per XRP. This is on a single exchange granted, but when XRP goes live (and it will without the knowledge of Retail investors), the productions corridors will begin to flow simultaneously. This 'will' happen, and the price will increase in perfect synchronicity on all Ripple preferred exchanges all over the world... so...
- Bittrex Order book currently shows that from $0.27 cents to $500 totals $39,544,766 Dollars - Transacting $39,544,766 Dollars at this point will instantly push the price of XRP to $500
Now let me be clear - $39,544,766 is all it would take to push up this price on the USD/XRP market. All other markets (BTC/XRP ETH/XRP USDT/XRP) on this exchange will rise in tandem as to coincide with this price. It will not take Billions of dollars to push up this price, you can see this now.. You have mentioned that you have been in the markets for some time now and you must know that there are small and large jumps in-between the sell orders. It is the sell orders that bring up the price, no one can buy if there is no sell order. Hope this helps
Any advice would be great ?