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Why did the price drop all of a sudden?


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Just now, Wandering_Dog said:

A bank can't use xRapid once its insolvent and collapses, such as Lehman, or is taken over by the gov, such as RBS--the CB will likely open the CB ledger before agreeing to take over a bank which settles on a 3rd party non-national layer.

This will provide impetus for regulators to provide FIs go-ahead for xRapid adoption in order to free up the huge amount of capital resources locked up in the Nostro/Vostro accounts. It should not be difficult to visualize what trillions of freed-up capital can do to aid in preserving solvency for banks worldwide.

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2 minutes ago, P3T3RIS said:

@cuber @Wandering_Dog

are you guys trading at all, or just bought at some level and then just HODL until some decided level and sell?

It really does not matter how cheap anyone here has bought, it matters zero.

what matters is where you bought, sold, re-bought, sold, bought again and sold and so on. 

Is your stack up or down since you started?

Have you made profit in real money?

That is what matters, and that is not about price but where it goes next.

If you don’t have any XRP at the moment, when are buying yourselves back in? Why at that level?

I trade xrp, and I made a profit. I think there is a chance xrp is used in the future, and I acknowledge the potentially negative impact it may have. I am betting that xrp will fall because that's what my research indicates has happened historically. I'm sharing my position because I hope to be disproven, and to use such information to benefit from in the future. Unfortunately it seems like crypto is in fact procyclical. We'll see! 

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Just now, Cobalt said:

This will provide impetus for regulators to provide FIs go-ahead for xRapid adoption in order to free up the huge amount of capital resources locked up in the Nostro/Vostro accounts. It should not be difficult to visualize what trillions of freed-up capital can do to aid in preserving solvency for banks worldwide.

XRP adopted in mass will lead to a greater economic collapse than that of a credit money elastic system. The gold standard demonstrated this. Any benefits would be short lived, and consequences potentially lethal to many. 

We are betting on a short term effect that we can disassociate from after the fact. What's scary is people are actively pursuing a fixed quantity settlement solution as if no historical data of such systems existed. 

 

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Just now, Wandering_Dog said:

XRP adopted in mass will lead to a greater economic collapse than that of a credit money elastic system. The gold standard demonstrated this. Any benefits would be short lived, and consequences potentially lethal to many. 

We are betting on a short term effect that we can disassociate from after the fact. What's scary is people are actively pursuing a fixed quantity settlement solution as if no historical data of such systems existed. 

 

One of the main causes of economic crises is when the velocity of money slows down e.g. consumers reduce their spending. The slowdown has a cascading effect on businesses which in turn impact employment numbers negatively (creating a vicious cycle). By reducing friction in money movement, we would have a positive effect on the velocity of money and extrapolating from that, a positive effect on the global economy in general.

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12 minutes ago, P3T3RIS said:

@cuber @Wandering_Dog

are you guys trading at all, or just bought at some level and then just HODL until some decided level and sell?

It really does not matter how cheap anyone here has bought, it matters zero.

what matters is where you bought, sold, re-bought, sold, bought again and sold and so on. 

Is your stack up or down since you started?

Have you made profit in real money?

That is what matters, and that is not about price but where it goes next.

If you don’t have any XRP at the moment, when are buying yourselves back in? Why at that level?

I rather rely on you to answer those questions for us.  You have an exchange and must see the data first hand?

As you know I simply hold.  I do not trust myself to trade.  I am 45% down and not really worried.  My analysis is based on what I can see on Etoro

74% of Etoro users have bought XRP

26% have bought BTC

24% have bought ETH

XRP is always showing 100% buying (never goes down, even in bulls and bears)  This tells me that sentiment amongst small investors is to buy three times as much XRP as BTC. 

The data seems to be telling that there is a war between market sentiment and Whale manipulation.  This war must be hurting the whales, but the whales have very deep reserves and pockets. Maybe you can tell me what I am missing?

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7 minutes ago, Plikk said:

Shouting that XRP will go to sub cent levels is the same( but direct opposite) as shouting it goes to 589 eoy like ‘moonboys’ whom annoy you so much.

I call that being hypocrite. 

My argument is not for xrp, its a macro argument. The sp500 will drop back to 2008 levels for example. This is how inflation (deflation), in the classical monetary sense, behaves. Which is frustrating for conflict inflation theory, but we are discussing asset prices rather than consumer goods and services, so... This requires thought :mail1:

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51 minutes ago, Wandering_Dog said:

My argument is not for xrp, its a macro argument. The sp500 will drop back to 2008 levels for example. This is how inflation (deflation), in the classical monetary sense, behaves. Which is frustrating for conflict inflation theory, but we are discussing asset prices rather than consumer goods and services, so... This requires thought :mail1:

It’s your theory, but not fact. Same goes for ‘instant moon’ theories. Could be right, could be wrong. Usually it comes down to somewhere in the middle of doom and moon. 

Edited by Plikk
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@Julian_Williams

I believe so many people burned their fingers pretty bad this year and are waiting on sidelines for better times. People just hodl and wait, and in my opinion only coins to survive this bear market are the ones with real utility value. True fast payment, true fast settlement, true base currency on exchanges, true something else, but something real it has to be.

We are not far from that moment when people really start questioning their investments fundaments, and at that point they see the truth. If coin has no utility, it probably has very little value.

This is the reason why XRP UNITED is in no hurry to move on issuing new cryptopairs, but concentrate on making our site more stable and make it work flawlessly in all core operations; signup, login, verification, buy/sell, charts etc.

We are building services on top of exchange that will hopefully lead to larger adoption of XRP, which I hope benefits all of you too. 

Tradingwise I only look at next levels of action, support and resistance, all beyond that is fortune telling, palm reading at best 🤣

Edited by P3T3RIS
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Don’t forget the lasting damage it has done to the miners. Miners in China are closing shop and selling their equipments by weight (according to F2Pool). GigaWatts went belly up and is getting evicted. Norway is discontinuing its huge tax incentive for miners. 

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