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ObeyTheWafflehouse

Tracking xRapid volume through MXN/USD

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1 hour ago, ObeyTheWafflehouse said:

I am looking at trying to track xRapid volume through the XRPMXN corridor. Is there any way that I can track/graph transactions by searching time, date, and amount through the transactions from XRPcharts on ripple.com? Or does anyone have any historical data saved from this?  

So far no one has been able to concretely 'track' xRapid transactions.

The best way would be to look at the volume of transactions on the XRPL (as well as the size of txs), and match that up with the volume and size of transactions on xRapid partner exchanges; namely XRP/USD on Bittrex/Bitstamp, and XRP/MXN on Bitso.

Edited by retryW

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14 hours ago, retryW said:

match that up with the volume and size of transactions on xRapid partner exchanges; namely XRP/USD on Bittrex/Bitstamp, and XRP/MXN on Bitso.

This is what I am currently working on. The trick is trying to cut through the noise. 

 

10 hours ago, Sukrim said:

full set of transactions on Google BigQuery (xrpledgerdata.fullhistory.transactions).

I'm not tech savy. I understand this can be done, but I did not know if someone has already tried to graph this. @galgitron, maybe you could help me with how you graphed this? 

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I dont think it is possible to see 100% of xRapid transactions. xRapid may route a payment, or portion of a payment through a RippleNet liquidity provider (like a multi-hop bank) and that portion of the payment will never be trackable on XRPLedger.

For payment paths that do flow through XRPLedger, you still may not be able to see all of the individual transactions.

If two exchanges are participating in RippleNet as liquity providers, they may set up this business arrangement using Payment Channels, then when xRapid needs to flow through the XRP liquidity on the two exchanges, the sending exchange gives the receiving exchange a PayChan Receipt... this is done off ledger, and is not trackable..

...Some netting activity of many transactions can be done between the two exchanges before the PayChan Receipt is sent. When the receiving exchange is ready to "cash in" their receipts and settle the cumulative amount of XRP they do PayChan Claim transaction, and this is on ledger and is trackable.

Edited by KarmaCoverage

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2 hours ago, KarmaCoverage said:

I dont think it is possible to see 100% of xRapid transactions.

You're 100% correct. You cannot see every transaction on xRapid due the xRapid volume being hidden within the trading volume. HOWEVER, if there is enough xRapid volume being pushed through at one time, this will cause a discrepancy within the market. I'm more interested in finding this discrepancy, and I am well aware that the transactional volume may be split between exchanges. 

I'm not too tech savy when it comes through sorting through the XRP ledger volume, maybe somebody will come up with something on tracking the ledger payments, but for now, I can at least find these "discrepancies" in the market to make it easier to identify xRapid volume going through an exchange. 

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6 minutes ago, ObeyTheWafflehouse said:

HOWEVER, if there is enough xRapid volume being pushed through at one time, this will cause a discrepancy within the market. I'm more interested in finding this discrepancy

May want to keep an eye on the exchange's off ledger XRP orderbooks (especially the ones who offer institutional services)... and of course if you can identify the exchange's wallets you should be able to see XRP movements between and Payment Channels connecting the exchanges. 

Edited by KarmaCoverage

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19 minutes ago, ObeyTheWafflehouse said:

I'm sorry, I am a little new here. Where would I be able to find the exchange's off ledger XRP orderbooks? 

Either through the exchange's API, I dont know which ones offer what info via API though. Or become a client of the exchange and log in and see how XRP is trading on that exchange's off XRPLedger orderbooks.

If they issue on XRPLedger IOUs like Gatehub or Bitstamp  you can see the individual orderbook info here https://xrpcharts.ripple.com/#/ by clicking on any individual market.

This is very valuable data to be aggregated, especially in real time, so there is probably a business opportunity I'd be willing to help with. I dont know anywhere that has all the off ledger orderbook stats aggregated, maybe Ripple internally, or someone running running an arbitrage operation like The Rock or @tulo would have partial info. There are getting to be a LOT of exchanges making XRP : Fiat pairs.

 

Edited by KarmaCoverage

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I have built myself a database locally and I am logging all XRP ledger payments and all off ledger XRP/USD trades at Bittrex, BitStamp, and XRP/MXN trades at Bitso. Each exchange makes their recent trades available via their public API.

I have around 1 full day of data and so far I see no evidence of a FULL xRapid transaction (i.e. buy XRP at Bittrex/Bitstamp >> XRPL Payment >> sell same XRP on Bitso). I'll be curious to give it more time and see if anything pops up. As KarmaCoverage stated above, it's possible that xRapid won't be implemented in that way and the XRP payments could be aggregated and closed in batches over a payment channel. If that's the case, it's going to be difficult to really tell which volume is xRapid.

It's also possible I'm looking in the wrong places. The wallets I've been watching for payments are:

rDsbeomae4FXwgQTJp9Rs64Qg9vDiTCdBv - Bitstamp 
rPVMhWBsfF9iMXYj3aAzJVkPDTFNSyWdKy - Bittrex
rLSn6Z3T8uCxbcd1oxwfGQN1Fdn5CyGujK - Bitso 

I have seen payments between both USD exchanges and Bitso, but none for amounts that I could tie back to an exchange trade.

The most interesting thing I've seen so far has been a handful of matching orders placed buying XRP with USD at Bitstamp and then selling XRP at Bitso for MXN. Lots of these trades have been for pretty random and specific amounts such as 298.38120800 XRP purchased at bitstamp and the same amount sold within one second at Bitso. I could never find a corresponding XRPL payment for the same amount. May just be someone performing arbitrage buying and selling on both exchanges.

If anybody has any other thought about what to look for I'd love to hear them.

 

Edited by XRPforALL
typo

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14 hours ago, ObeyTheWafflehouse said:

I'm sorry, I am a little new here. Where would I be able to find the exchange's off ledger XRP orderbooks? 

For off ledger you mean off the XRP ledger?

Each exchange has their orderbooks. Most of them offer (poor) API to access the data. You can check Bitstamp, Bitfinex, Bitso, Binance, Kraken, Poloniex, and many more ....

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