Jump to content

ed1

Member
  • Content Count

    51
  • Joined

  • Last visited

About ed1

  • Rank
    Regular

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. One more thing, I would be a lot more negative about XRP if it weren't for the September 2018 pump that came out of nowhere and took XRP from 27 cents to 76 cents in a matter of hours.
  2. The problem with your reasoning is that you are only looking at a very restricted window for XRP price appreciation during 2017. The fact is, during 2017, XRP went from 0.006 to 3$, that's a 500x return in a year. That return in itself may also be a black swan and probably is but to say that XRP performed on par with other alt coins during 2017 is simply not true.
  3. Not gonna happen, but fair point in both cases. Jed's sales though have been tied to XRPL trade volume and not to the exchange volume, so inflated exchange volumes shouldn't really effect that part.
  4. Moneygram accepted an investment from Ripple primarily because the company literally needed the cash, so to expect Moneygram to turn whatever asset it has into XRP now is a stretch to say the least. xRapid will ultimately have an impact but we have to keep in mind that besides major currencies (USD/EURO etc) the only corridors on xRapid so far are MXN and PHP. BRL is supposed to arrive soon. Without more corridors the impact from xRapid use will still be limited at this point. For companies to actually hold XRP rather than fiat currencies, there are 3 main per-requisites; a) There should be enough functioning xRapid corridors to satisfy the corresponding payment needs of these companies that need to transfer money into different locations in Asia/ME/Africa/South America etc., so that they don't have to still keep a bunch of FIAT besides XRP, b) There should be enough liquidity on demand available for the XRP/FIAT pairs in their preferred corridors so that when they need to send/pay/transfer into whatever local currency, they won't have to wait or pay an excessive fee and c) That by holding XRP they don't lose money (that XRP at the very least keeps its value against FIAT) or at least that they don't lose more money than what they would have lost/(over)paid for by using legacy systems.
  5. Yeah, daily volume is more like 100M USD. https://openmarketcap.com/
  6. Moneygram isn't suddenly going to hold all of its assets in XRP, neither will the companies using such services. We are still years away from those days unfortunately. In the meanwhile, XRPs daily volume in openmarketcap is 67M USD, so yes 1.1M additional XRP supply introduced per day does dampen any upwards pressure.
  7. It is true, although he used to sell about 52000 per day, now he is selling 1.1M. I guess a sustained run to above 1$ is pretty difficult when the daily supply get a boost like this.
  8. It was actually David Schwartz @JoelKatz who had posted right here on xrpchat as a comment. Here's the link: "5) Many of these deals mean more money for Ripple, which Ripple uses to hire employees, sign up partners, do regulatory outreach, and so on. To date, none of that money has been used to pay dividends to investors. It has all been retained and/or used by Ripple. Ripple's long-term goal is to maximize the value it gets from its XRP. "
  9. I don't know exactly. At current rate, if he's only finishing what he has transferred to the tacostand account, it would be about 35 days. https://bithomp.com/explorer/rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv
  10. I'm guessing we are not going to see a significant upwards move in price until "mr tacostand" mccaleb finishes selling his quota of XRP for this period. He has been selling since Jun 6 and sold about 55 million XRPs until now. We will probably see another 30-45 days of him selling now, so no major price action until the end of this period.
  11. Nope, they have already made that statement in market reports before. No dividends are paid, the money is used for organic growth of the firm and XRP ecosystem.
  12. I agree that they are signalling to market participants that there will be an upward pressure on price. It wouldn't be addressed to CL though as he is an insider and a decision maker, CL would be in on it so to speak. What is also important is that they are reducing programmatic sales to 10 base points which is almost 1/6th of the previous rate using inflated volumes. So a large reduction in sales coupled with higher demand (no longer supplied via OTC) should have some effect on the price.
  13. It means in liquid markets - say US/UK/Eurozone/Japan etc Ripple will no longer sell through OTC as there's enough trade volume in these currencies. In new corridors/illiquid markets where institutional demand arises Ripple will sell through its OTC branch. It is a significant piece of news. Any FI/Bank/fintech company operating in these developed markets will have to procure XRP through open markets. We don't know the exact distribution of Q2 institutional sales but if 60% was to institutions in liquid markets we will have a 60M USD buying pressure next quarter (assuming a steady demand) when XRP II no longer supplies institutions in these markets with an OTC option.
×
×
  • Create New...