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Why is XRP dropping?


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3 hours ago, Skag said:

As the title says, it was already low and now I see a trend of going even lower. Any specific reasons?

It's just in a sideways pattern right now.  Typical stuff.  We could do this sideways thing until Oct-Dec (my bet), or for the next 3 years.  Just remember, if XRP is oscillating with the entire crypto market, then the kinds of investors that'll make it moon haven't taken it seriously yet.  Good news, you haven't missed the rocket, you may just have to wait a few years.

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Thing is, I think you are looking at this with a short term view. If you look back at the market 6 months ago, where we are now is bloody good, compared to your traditional stocks and shares market. L

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

Meditate on this. Today sucked, no doubt about it, but there were people who bought at $0.40 back in May and were hanging in the red for half a year before the tides turned.

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Going to go out on a limb here, but I think the bottom has been found on this particular dip for now, but hey, things can change in an hour or a day.

XRP - $0.68

BTC - $8100

ETH - $600

Why have I mentioned 3 coins, well, I see these three riding the same ride. XRP and ETH just follow BTC for the moment, until something can jolt it like December 2017.

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8 minutes ago, nomad_z said:

Going to go out on a limb here, but I think the bottom has been found on this particular dip for now, but hey, things can change in an hour or a day.

XRP - $0.68

BTC - $8100

ETH - $600

Why have I mentioned 3 coins, well, I see these three riding the same ride. XRP and ETH just follow BTC for the moment, until something can jolt it like December 2017.

Ok, bollocks to that then. Lesson learnt, never go out on a limb in the CryptoSphere, where the only certainty is uncertainty...

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34 minutes ago, nomad_z said:

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...

People are just exiting not running for the doors. The problem is there is no buying pressure because the market is currently trash and doesnt show any sign of not being trash.

No volume low volume selling and no buying. 7-9 billion in daily crypto volume........not good!!

 

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9 minutes ago, nomad_z said:

Thing is, I think you are looking at this with a short term view. If you look back at the market 6 months ago, where we are now is bloody good, compared to your traditional stocks and shares market. Let's say that we hadn't gone through the epic rise in December and January and that the market had gradually gone up, then on that basis, we've done bloody well. Compare where we are now to where we were this time last year. I think that there is a lot of impatience and greed out in the cryptosphere and is due to those who do not have investment experience in other areas and think what happens here is the norm. Most people need to wake up and realise what reality is. I'm including a graph with market volume on it and if you ask me, I think it's ok, especially if you compare it to 6 months and 1 year ago. We've come a long way in a year and I'm happy with that.

 

Chart.jpg

agreed got in in sept of last year i have no complaints. 

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Ditto.  This market is evolving well no question.  The fact that some may not be equipped to deal with the ups and downs positionally, nor emotionally (and that is understood and emphasized with) has no bearing on the state of the market.   The market is new, it's building, and it's not for the faint of heart.  Holding with confidence...(and loving all the XRP progression the past few months!). Hang in there! 

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52 minutes ago, nomad_z said:

Thing is, I think you are looking at this with a short term view. If you look back at the market 6 months ago, where we are now is bloody good, compared to your traditional stocks and shares market. Let's say that we hadn't gone through the epic rise in December and January and that the market had gradually gone up, then on that basis, we've done bloody well. Compare where we are now to where we were this time last year. I think that there is a lot of impatience and greed out in the cryptosphere and is due to those who do not have investment experience in other areas and think what happens here is the norm. Most people need to wake up and realise what reality is. I'm including a graph with market volume on it and if you ask me, I think it's ok, especially if you compare it to 6 months and 1 year ago. We've come a long way in a year and I'm happy with that.

 

Chart.jpg

That is a misleading graph though isn't it? That was rhetorical btw! 

See that huge spike after the crash? Remember when XRP jumped to 1.20, ETH hit 1k almost, and all seemed well again. We aren't seeing that and won't see that this time. 

I want to add that the altcoin market is very weak! Last time XRP hit .65 bitcoin was 6900 there is no money in the market creating a bounce. Look at the volume you would think at these prices people would be buying!

I still think, like you, that in 6 months there will be a increase in price, but I'm watching the volume closely. If it keeps dwindling and decreasing I will change my opinion the mania is what drove this  market. 

Once people are no longer interested it dies WHY? Because real people in finance think it is overvalued in a huge way!

I still believe bar any insane international regulation that XRP will see $3-$5 this year, but as the volume doesn't increase and the weeks turn into months my confidence wanes.

 

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2 minutes ago, jasil said:

That is a misleading graph though isn't it? That was rhetorical btw! 

See that huge spike after the crash? Remember when XRP jumped to 1.20, ETH hit 1k almost, and all seemed well again. We aren't seeing that and won't see that this time. 

I want to add that the altcoin market is very weak! Last time XRP hit .65 bitcoin was 6900 there is no money in the market creating a bounce. Look at the volume you would think at these prices people would be buying!

I still think, like you, that in 6 months there will be a increase in price, but I'm watching the volume closely. If it keeps dwindling and decreasing I will change my opinion the mania is what drove this  market. 

Once people are no longer interested it dies WHY? Because real people in finance think it is overvalued in a huge way!

I still believe bar any insane international regulation that XRP will see $3-$5 this year, but as the volume doesn't increase and the weeks turn into months my confidence wanes.

 

i think at this point we need institutional money pouring in. there is no more bitcoin mania for us small time investors to get hyped about. but i think that's fine and dandy, even brad himself said he's not focused on increasing xrp's value derived from speculation.

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1 minute ago, invest2lose said:

i think at this point we need institutional money pouring in. there is no more bitcoin mania for us small time investors to get hyped about. but i think that's fine and dandy, even brad himself said he's not focused on increasing xrp's value derived from speculation.

Banks and other FI's are afraid to get a pile of XRP because of the volatility risk involved.
So the use case of xRapid will get more difficult to realize because all those trillions won't flow in.
But it does not mean that the nostro/vostro accounts can't be cleared. Banks will have an amazing amount of capital back in their own hands again to spend and invest.
Because the transition from FIAT>XRP>FIAT takes under 10 seconds, there is almost no risk involved.
If a bank ONLY invests 3-5% of their nostro-vostro holdings into a pile of XRP to be independent from the liquidity risk with using an exchange, they will...
When this 3-5% amount increases in value exponentially AND solves a big settlement problem, there is nothing holding banks back from putting more money in the system.

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