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Why is XRP dropping?

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1 hour ago, Tiamat said:

Google is banning cryptos and ICO's related ads from june thats why

really? wow

 

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1 hour ago, Tiamat said:

Google is banning cryptos and ICO's related ads from june thats why

That probably bodes well for XRP in the long run as it will have natural demand from the finance sector.

It will be bad for ETH though.

Edited by Mikhail_Liebenstein

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39 minutes ago, jasil said:

Bs people are exiting

2.thumb.png.fb93106eceba1e19eaae7b42660620c9.png

Posted literally an hour ago lol.

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1 hour ago, Tiamat said:

Google is banning cryptos and ICO's related ads from june thats why

That is good for news XRP. Short term pain for long term gain. Facebook are doing the same. Harder for Bitcoin et al to manipulate the market.

:big_boss:Facebook and Google are both backers of Ripple. Just saying.

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15 minutes ago, WhentheBoat_ComesIn said:

That is good for news XRP. Short term pain for long term gain. Facebook are doing the same. Harder for Bitcoin et al to manipulate the market.

:big_boss:Facebook and Google are both backers of Ripple. Just saying.

Where is the evidence that Facebook are backing Ripple?

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6 minutes ago, JustinS said:

Where is the evidence that Facebook are backing Ripple?

 

21 minutes ago, WhentheBoat_ComesIn said:

That is good for news XRP. Short term pain for long term gain. Facebook are doing the same. Harder for Bitcoin et al to manipulate the market.

:big_boss:Facebook and Google are both backers of Ripple. Just saying.

;)

 

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1 hour ago, BigBeard said:

most of the huge money in crypto is illegal money. look at the hundreds of coins in existence, 99.9% of which have no real business plan. There are probably less than 10 coins with an actual business plan. The crypto space needs to be cleaned up in order for big money from legitimate institutions to come in. This means that all these fake coins will eventually vanish, and what will be left behind are the real businesses, which will lead to a few big players sharing the total market cap for crypto investments.

Exactly this. The institutions don't want their invested money washed away into shitcoins. They have basically 2 options: Go in really big and take over or just wait until the market is fully regulated.

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2 hours ago, CaligulazBaby said:

The whales are testing supply/demand levels.  The previous low for this phase was $0.56, if this sell off fails to push the price below that and has low volume and then the price moves up quick on low volume then it is good.  If the price moves below $0.56 then the accumulation phase has a long time left to run because the demand isn't high enough yet.

I am in agreement with you on this. I think the whale bots are driving this down again to test the support levels or the supply/demand levels you mentioned. One thing I have noticed over and over gain when the levels are tested is that the market depth graph for XRP/USD on Bitstamp is very shallow for sell orders, compared to the USD pairs for BTC, ETH and LTC. I'm no expert, but to me this seems that there are not many willing to sell XRP and most of the weak hands have been shaken out for XRP already - only the strong hands i.e. HODLers remain.  The only thing that concerns me is that because the bots are synchronised across BTC, ETH and XRP and the programmers have not taken into account or don't care through laziness that the floor for XRP is reached way before BTC and ETH.

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1 hour ago, CaligulazBaby said:

2.thumb.png.fb93106eceba1e19eaae7b42660620c9.png

Posted literally an hour ago lol.

We must be misunderstanding each other. I agree PEOPLE ARE LEAVING CRYPTO there is no bounce this is 100% different.

 

This isnt some bs whale shake.....this is people exiting the market that is why there is no buying pressure.

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2 hours ago, jasil said:

Bs people are exiting

I've seen some of your posts and can't figure you out yet. Not sure if you try to give the impression that you are pro XRP and then come out with some negativity and what seems like FUD. This is not an accusation, but my opinion and and I could be completely wrong. If you think I'm one of those people who doesn't like to hear bad news and covers my ears so that I can live in ignorant bliss, I'm not. If you search my posts and read the one I posted on another conversation, you'll see.

With regards to your point about exiting, somehow I don't think so and I'll tell you why:

1. Looking at the trades on Bitstamp, I'm noticing a lot of small trades, i.e. 6-15 XRP trying to drive the price down. It only takes one trade to lower the price and it doesn't matter if it's 1 XRP or 50,000 XRP. It seems to me that the synchronised bots between BTC, ETH and XRP are trying to push lower with these low value trades to see how far it can go down.

2. If people were exiting and running for the doors, I would expect to see a spike in volume, but there isn't any. Any way, those who ran for the doors left the building a long while back in January and February.

3. Look how shallow the market depth is for the sell side for XRP/USD on Bitstamp - doesn't look like a stampede to sell, exactly the opposite.

Any way, hope I'm wrong about you...

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