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TokenBaby

More than a Ripple: What Pushed XRP up 100% in a Week

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"The maximum difference in XRP’s market cap between the week’s lowest and highest level turned out to be almost $19.8 billion. That’s nearly a 184 percent jump. True, the valuation dropped after establishing the weekly peak, but the extent of the drop was low. During the uptrend, the market cap of ripple once even went above the market cap of ethereum. For a short period, XRP was the new silver to bitcoin’s gold. However, an imminent sell-off near peak reversed the XRP trend and brought it back to the third position.

But, what were the reasons behind the XRP’s bullish behavior? So far, no technical aspects could explain it, so CCN dug into the fundamentals instead. And, to begin with, we found several that correlated with the XRP rally."

https://www.ccn.com/more-than-a-ripple-what-pushed-xrp-up-100-in-a-week/

xrp ccn chart.png

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Susie (Esoteric Trading Solutions) uploaded a video about the enormous short position on XRP. 

I suppose some of this spectacular rise was a result of short covering. Taking losses or protecting profits. 

Also known as short squeeze.  Traders generally have stop loss orders in the market, in case of adverse moves against their position. These are buy-stop market order. Once the price hits that price on the way up, the order becomes a buy market order. The buy get executed at the market, further perpetuating the up move.  

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2 hours ago, Deeznutz said:

I agree to a point but Ripple’s had good news all year and the price dropped.

This shows that "good news" does not guarantee higher prices. Price auction is dynamic. The market will move when it is good and ready to move. 

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it's still the timings which interest me, if it goes up again significantly in 30-31 hours time then I call xRapid Japanese demand (same time of day as last weeks increases & Japan is on holiday today). That's my finger in the air punt, lets see (& hope)…….

Edited by scoobysi
typo

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11 minutes ago, scoobysi said:

it's still the timings which interest me, if it goes up again significantly in 30-31 hours time then I call xRapid Japanese demand (same time of day as last weeks increases & Japan is on holiday today). That's my finger in the air punt, lets see (& hope)…….

The only thing with the Xrapid Japanese theory is that each spike was at 9pm local time in Japan..... I would have thought it would be somewhere between 9-5 japan local time for xrapid demand? Unless of course they are testing out of business hours to make sure there are no issues/problems

 

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8 hours ago, TokenBaby said:

"So far, no technical aspects could explain it, so CCN dug into the fundamentals instead. And, to begin with, we found several that correlated with the XRP rally."

https://www.ccn.com/more-than-a-ripple-what-pushed-xrp-up-100-in-a-week/

xrp ccn chart.png

 

As the article mentions, correlation doesn’t imply causation. I’m sure the root cause is hidden way beyond our sight.

We have a ~1 month delay in hearing the true details of every big news, so I guess we’ll find out in October ;)

Something similar happened with the huge payment registered weeks ago on the ledger, with the R3 hearing and agreement settling some time after.

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2 hours ago, scoobysi said:

it's still the timings which interest me, if it goes up again significantly in 30-31 hours time then I call xRapid Japanese demand (same time of day as last weeks increases & Japan is on holiday today). That's my finger in the air punt, lets see (& hope)…….

If xRapid is used should we not see it from here https://ripple.com/xrp/market-performance/ TPS should be much higher than 8-12... or am I missing something?

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