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Huge sell wall on poloniex

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I've noticed a week ago that someone wanted to buy around  800 BTC and has been putting and removing the wall since...it's down to 600+ BTC or 8M+ XRP....that someone probably had 10M XRP to sell at the beginning...whatever reason he/she/they had they've been sticking to the selling/buying plan no matter what the price is....whatever!

Once XRP clears that wall it should be better unless something else happens...

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We've seen this before albeit with a much larger amount of XRP and over a much longer period of time.  It's certainly odd someone is putting up such an absurdly inefficient sell wall.  Maybe it's an attempt to be malicious in nature, but it doesn't compare to the XRP dump by the bear whale from a few months ago.

 

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3 hours ago, Malloy said:

I've noticed a week ago that someone wanted to buy around  800 BTC and has been putting and removing the wall since...it's down to 600+ BTC or 8M+ XRP....that someone probably had 10M XRP to sell at the beginning...whatever reason he/she/they had they've been sticking to the selling/buying plan no matter what the price is....whatever!

Once XRP clears that wall it should be better unless something else happens...

I've decided to invest in WhopperCoins. Sorry folks. I'll need food for the coming apocalypse. 

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Maybe Goldman Sachs getting rid of XRP (They own Poloniex)... They are our competitors and they will create USDC (Like tether) to provide liquidity... 

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9 minutes ago, Javim777 said:

Maybe Goldman Sachs getting rid of XRP (They own Poloniex)... They are our competitors and they will create USDC (Like tether) to provide liquidity... 

They have already, its TUSD(True USD)

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SS above was taken this morning. One below i took June 28th which was eaten through in less than 5m on the pump that followed. I'm sure i could pull up more SS from way back.

Screenshot_2018-06-28-06-16-26.png

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What i find interesting is that XRP lending rates on Poloniex are still at 0.0001% (lowest possible). In the past, these huge walls usually caused rates to shoot up (guessing from people margin trading). 

God i wish rates were as high as summer last year. Was banking 500 XRP a week just lending.

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4 hours ago, Javim777 said:

Maybe Goldman Sachs getting rid of XRP (They own Poloniex)... They are our competitors and they will create USDC (Like tether) to provide liquidity... 

They don't own poloniex. circle owns poloniex.  

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FYI - 2 of out 3 $2mil walls have been eaten;  only one remains at 7040sats.  We shall see if another one pops up if and when we eat through this one.

There is a chance that we will see a good uptick after the last 2mils has been consumed, so stay on a lookout.  Alternate scenario is that BTC will tank at the same moment that the wall is eaten through since money flowing into xrp will stop pouring directly into btc and therefore cause it to drop.

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3 hours ago, automatic said:

FYI - 2 of out 3 $2mil walls have been eaten;  only one remains at 7040sats.  We shall see if another one pops up if and when we eat through this one.

There is a chance that we will see a good uptick after the last 2mils has been consumed, so stay on a lookout.  Alternate scenario is that BTC will tank at the same moment that the wall is eaten through since money flowing into xrp will stop pouring directly into btc and therefore cause it to drop.

Couldn't agree more. I get the feeling that this past dip was just that though, a dip on the way up. This 4 month / 4 hour BTC/USDT chart gives a little clue.

Screenshot_2018-07-11-19-18-05.png

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