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charmaser

xRapid Partnerships and Escrow

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I can smell it... I can smell it...... Can you smell that?? It smells good!!!! Soooooooooooooo close!

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Sounds like Christmas Bells, 1000 XRP's for all the children in the family this year..!!!

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18 minutes ago, Leo said:

this year passed while waiting and watchinh btc goes 12k and xrp still at 0.2-0.25 since may

Don't feel so bad.

Next year passed while waiting and watching XLM goes to $2 and xrp still at 0.2-0.25 .

and then..

you will just get used to it. :)

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So...let's say ripple does announce in the coming weeks that there are multiple banks that will be using xrapid, my question then becomes how could or would that affect the price of xrp? If my understanding is correct, by using xrapid these banks will have to purchase the xrp (at a discount?). I don't see how this increases the price unless it is truly a massive amount of xrp and the use of it creates solid velocity. Of course I guess the news could also create at least another pump. I'm long term on xrp for sure and I love what ripple is doing. First comment by me on this sites, really appreciate all the useful content from you all! 

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46 minutes ago, JackTheRipples said:

So...let's say ripple does announce in the coming weeks that there are multiple banks that will be using xrapid, my question then becomes how could or would that affect the price of xrp? If my understanding is correct, by using xrapid these banks will have to purchase the xrp (at a discount?). I don't see how this increases the price unless it is truly a massive amount of xrp and the use of it creates solid velocity. Of course I guess the news could also create at least another pump. I'm long term on xrp for sure and I love what ripple is doing. First comment by me on this sites, really appreciate all the useful content from you all! 

short answer? supply and demand- the demand for XRP will go up and more public will invest.  (xRapid) Relationships will be highly beneficial in the long term, but in the short term it's mostly public speculation.

 

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1 hour ago, JackTheRipples said:

So...let's say ripple does announce in the coming weeks that there are multiple banks that will be using xrapid, my question then becomes how could or would that affect the price of xrp? If my understanding is correct, by using xrapid these banks will have to purchase the xrp (at a discount?). I don't see how this increases the price unless it is truly a massive amount of xrp and the use of it creates solid velocity. Of course I guess the news could also create at least another pump. I'm long term on xrp for sure and I love what ripple is doing. First comment by me on this sites, really appreciate all the useful content from you all! 

I think your getting it wrong at the actual process. From what information we can get right now, xRapid works like so:

 

1. Initiate transaction 

2. Bank A (or Market Maker) purchases 100$ worth of XRP on exchange 

3. XRP sent to Bank B

4. Bank B (or Market Maker) sells sells XRP for whatever it is in their native currency, let’s say EUR

5. Bank B then takes EUR and credits the customers account 

 

I think you’re getting discount from Ripple’s institutional sells. Those are for large companies or banks to purchase a large amount of XRP at a discount directly from Ripple. With this they can skip step 2 and use their own XRP. The xRapid process is all public trading via exchanges though. 

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@SneakyFish5 Wow, thanks for clarifying, I should've realized that! Jeez, well if xrapid is executed like you explained then common sense tells me it would cause the price to go up, ceteris paribus. Interesting though and really smart move by ripple, because to me it would make much more sense to buy at a discount directly from ripple, but then again I don't know what circumstances ripple allows those purchases. I wonder what conditions Ripple wants to see for those direct purchases, like what they consider to be a large purchase.

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