Koinex Differ from Market

[Rajivrana7]

Why Koinex shows different price...

Date: 12th Dec 2017
Time: 17.07 IST

Issue:

Koinex is showing Ripple rate as XRP/INR: 18.00 INR where are other site has rate of 15.75 INR.

Need to understand WHY?

15.75 INR Source: http://dollarrupee.in/ripple-price-prediction-xrp-to-inr-forecast ( December 04, 2017. Ripple Price In Rupees Today In India...Ripple price equal to 15.75 rupees a coin. Today's price range: 15.61 Rs - 16.06 Rs. The previous day close: 15.79 Rs. The change was -0.04, -0.25%. Inverse rate: INR to XRP.)

[Pluto]

Markets still inefficient with liquidity, hence exchange demand governs price. I.e true price is  INR 15.61 based on fiat exchange rate and U.S Exchange prices. However Local Indian Price will be based on exchange demand, i.e how much are people willing to pay to buy XRP from a regulated exchange. This is also is a result of lack of exchanges for XRP in India, i believe they are Two as of now. BTCX and Koinex.

 

A  quick conversion of Bitcoin prices on the exchange are a good example for the exuberant price difference in India due to surge in demand for Bitcoins in India.

 

This problem will eventually disappear as more liquidity is introduced into the market, but you still wont get the closest exchange price for XRP due to added exchange cost (Cost the exchange had to incur to be liquidity provider for XRP at the launch of XRP, this difference will subside overtime).

 

Your best bet is to purchase when volatility is bearish, this makes short term speculators dump and drop the price fast  for a brief period closer to your desired true price.

 

Glad they are investors in India already!

[zenkert]

2 hours ago, Jackdarippler said:

Your best bet is to purchase when volatility is bearish, this makes short term speculators dump and drop the price fast  for a brief period closer to your desired true price.

Good advice @Jackdarippler

[zenkert]

BTW to XRPchat @Rajivrana7

[Graine]

Just try to move INR out of the country for any currency. You'll see why India trades at premium. #capitalcontrols #walledgardens 

[Rajivrana7]

12 hours ago, Jackdarippler said:

Markets still inefficient with liquidity, hence exchange demand governs price. I.e true price is  INR 15.61 based on fiat exchange rate and U.S Exchange prices. However Local Indian Price will be based on exchange demand, i.e how much are people willing to pay to buy XRP from a regulated exchange. This is also is a result of lack of exchanges for XRP in India, i believe they are Two as of now. BTCX and Koinex.

 

A  quick conversion of Bitcoin prices on the exchange are a good example for the exuberant price difference in India due to surge in demand for Bitcoins in India.

 

This problem will eventually disappear as more liquidity is introduced into the market, but you still wont get the closest exchange price for XRP due to added exchange cost (Cost the exchange had to incur to be liquidity provider for XRP at the launch of XRP, this difference will subside overtime).

 

Your best bet is to purchase when volatility is bearish, this makes short term speculators dump and drop the price fast  for a brief period closer to your desired true price.

 

Glad they are investors in India already!

Thanks... This helps