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kyriediculous

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Everything posted by kyriediculous

  1. True but on gatehub the IOU's are third party liquidity providers, not the exchange.
  2. Because on gatehub anything other than XRP is an 'I owe u' (IOU)
  3. Looks like we're heading for a retest and potentially lower. 3650 sats may be the next buy of a lifetime if it gets there (my previous buy of a lifetime was 2200)
  4. Do note that I see myself as a trader, not investor. I actively trade my investments to increase the position size. I do however plan to use XRP as my main form of liquidity in the future where I will just have to hedge against certain movements and have a non inflationairy currency that is accepted for any fiat at good rates and instant delivery.
  5. I'm cautious with throwing what caused it. There is never one key thing, as a trader I look for setups. Combinations of both technicals, fundamentals and market psychology. For the case of ripple you can say the following: - Markets price in before facts (buy the rumour sell the news) , in this case it was the XRP lockup. Add to that that supply decrease compared to asset growth ratio was way too high above a certain point. - The leg up above 15 000 satoshi was on very little new money coming in and lots of margin longs.It's the phase where market psychology wise greed kicks in. - Ripple is scaling up in sales with an increase of 115% in sales hirings , other departments up 10-15%. They got a new office, attend conferences etc. It's no secret that Ripple sells small amounts of their XRP to pay for growth of the company. They would want to do that before they implement the lockup of course. - Kraken added 5x margin on XRP/FIAT pairs which adds to the greed but also to the despair afterwards. - Technical analysis of the price, volume, momentum, market maker levels and the way economic markets move in cycles Sell when euphoria hits and buy when there's blood in the streets, this is not a team game. Can't have morals when trading because the big players won't have any either, you can't play the game of soccer on one leg.
  6. Thanks , this is not a guaranteed bottom though What we are looking for now is confirmation of a market bottom. This means the RSI on the daily turning gray again combined with a bounce off of that blue dotted line, I Expect us to go sideways here and retest the bottom like we did last time. If we break that blue dotted line I can see us going to 4500-5000 by the way. Chart : https://www.tradingview.com/x/TaYaUUVr/
  7. But as long as we're not there yet and RCL volum doesn't overtake poloniex I'm trading on XRP/BTC. I said before that XRP/USD or ETH/USD is affected by the BTCUSD price, which shows well today. Eth/btc for example is down 0.075 to 0.066 , roughly 10% while eth/usd is down way more because of bitcoin weakness. What can you do to protect yourself against this btc/usd weakness? When you're accumulating bitcoin and you see bitcoin overextended you can short to hedge your other holdings. My target is coming closer, might even have to adjust lower to 4500 but I don't think so. THere is also a possiblity of downtrending until summer is over.
  8. I've been saying that the dominant pair XRP is being decided by volume, at that point this is bitcoin. End of the discussion, it's just the way markets work same like you have proxy pairs in forex. Unless you accept that fact we will not find common ground on the matter I'm afraid. Can XRP/Fiat become the dominant pair? Yes sure ! When banks start pushing commercial XRP solutions.
  9. You're reading the last sentence only it appears. Market structure is factual it's not my opinion it's based on the volume of the respective pairs.
  10. Who cares about news, we've had days of great news and went sideways. news doesn't drive price, if it did everyone could read an article and trade
  11. Well my setup can actually spot potential breakouts before they happen; they are however not 100% guaranteed breakouts. So the idea is that when the signal appears you enter the trade with a close stop because if the candle close and start of the next candle doesn't confirm the signal you get out again. Here's an example, you can see the rsi breaks 1 bar before the actualy price breakout : https://www.tradingview.com/x/EnPGDBKj/ The same is true for downward breakouts, as you can see on the chart in the analysis, where the purple trendlines on the price and RSI represent eachother.
  12. News doesn't drive price, and even if it does it is buy the rumour sell the news. Just look at how the lockup announcement came in on the 15th or 16th and that's when we started selling off. And the RSI has a better prediction value on higher timeframes, like the daily. I'll add that the RSI does not mean overbought or oversold, the rsi is a trend strength indicator.
  13. XRP/USD is affected by an external factor, the BTC/USD price. At least as long as fiat volume does not overtake bitcoin volume by a considerable amount you will not have an intrinsic fiat value for XRP but a derivative. On top of that i like acquiring bitcoin over fiat for the time being, so it's both psychological as well as market structural.
  14. Hi I've made a little analysis on what might be the ripple bottom. Merely my own opinion and not investment advice. I also occasionally post an idea on tradingview under kyriediculous. https://steemit.com/trading/@tradingbuddy/ripple-what-will-be-the-bottom-for-xrp Happy to answer questions or discuss price technicals & fundamentals. Let it ripple !
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