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Eric123

Epic Pennant on BTC Chart

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I would like to credit the discussions on the forum today for keeping me abreast. I was very busy at work and trading on my lunch break. LOL.

I appreciate all the very good investigating by those who are good at it. You know who your are.....thank you.

 

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7 minutes ago, dr_ed said:

Okay. I had a busy day at work.....but the rumors around XRP, truth or fiction, sounded like reason enough for me to shift most of my "hedge" cryptos into XRP to bring my position back to a nearly full one. I'm only 25% from my prior stupidly-overweight-XRP-dominated portfolio. 

I am now mostly XRP, VET, and TRX for the moment. Didn't want any trains leaving the station without me onboard.

Heres the action on XRP up to the moment on the 15 minute chart.......looks pretty bullish. Anytime XRP moves and BTC doesn't? That's a shift in the force.

 

584272811_ScreenShot2019-07-26at6_39_25PM.thumb.png.6398df6f9b0290d6868dde9e12474a50.png

 

surprised you still hold tron with the recent justin sun news, or was that just overblown fud?

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Just now, invest2lose said:

 

surprised you still hold tron with the recent justin sun news, or was that just overblown fud?

I love to stake TRX....it's a very functional ecosystem with good rewards.. I think TRON the project is fine. 

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21 minutes ago, invest2lose said:

rumors around XRP, truth or fiction, sounded like reason enough for me to shift most of my "hedge" cryptos into XRP

Which rumours? TheCryptHawk is proven to be a fraudster. 

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11 hours ago, baobeiiiii said:

So if Ripple are going to slow down selling of XRP, doesn't that mean price will likely go up due to less supply?

In theory, yes price should appreciate with less supply hitting the markets from Ripple as long as the current demand stays constant or even increases.  However, Ripple seems to think there is ample supply available in major markets to the point that they no longer need to sell OTC to buyers in those markets.  They want folks to go to exchanges and those folks previously buying OTC from Ripple could also buy OTC from the exchanges too.  It's not a given, but targeting less-supplied markets with their OTC sales seems like a good thing,

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2 hours ago, Zedy44 said:

In theory, yes price should appreciate with less supply hitting the markets from Ripple as long as the current demand stays constant or even increases.  However, Ripple seems to think there is ample supply available in major markets to the point that they no longer need to sell OTC to buyers in those markets.  They want folks to go to exchanges and those folks previously buying OTC from Ripple could also buy OTC from the exchanges too.  It's not a given, but targeting less-supplied markets with their OTC sales seems like a good thing,

It all has to do with the liquidity. XRP price must be higher in order to fill all the orders and it’s the only path to major adoption. Liquidity and utility are the major drivers for XRP’s price.

They won’t dump coins any more since they want to see higher price because otherwise there won’t be any major utility.

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10 hours ago, Zedy44 said:

In theory, yes price should appreciate with less supply hitting the markets from Ripple as long as the current demand stays constant or even increases.  However, Ripple seems to think there is ample supply available in major markets to the point that they no longer need to sell OTC to buyers in those markets.  They want folks to go to exchanges and those folks previously buying OTC from Ripple could also buy OTC from the exchanges too.  It's not a given, but targeting less-supplied markets with their OTC sales seems like a good thing,

The fact that Ripple will be selling less is excellent because it means that less XRP will be getting placed into circulation. It basically will slow down "inflation" meaning the new XRP that get put into the market from Ripple. If people are buying OTC from someone that is not Ripple then that is good because if you get it from Ripple then that is putting new XRP into circulation which has downward pressure on the price.

For the amount of XRP that Ripple was selling over the counter "millions and millions" I wouldn't think that anyone else has the ability to constantly sell that same amount OTC; so I would think that whoever wants all this XRP would need to source it from the open market but I don't know.

We also have to remember that Ripple is reducing their "Programmatic" sales which is what I call the "Dumper-matic" sales that actually get executed right on the market in the order books which is a big deal.

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12 minutes ago, dr_ed said:

Short attack on BTC this morning. Well timed.

951432479_ScreenShot2019-07-27at8_06_47AM.thumb.png.f9c51f8fd827d8e72dbccf13f303a4be.png

Any reason to be keeping it back under $10k? Everything seemed to be enjoying a 4-5% kick this morning. Then dump. 

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Well this downturn is not letting us go without a fight.  Even got a Bart Simpson Pattern in the last 12 hours.  We'll probably be out of this by Monday. Too nice out to think about charts,  I'm going to the beach.

@baobeiiiii yeah after we break out of this pattern and get about a dozen green days.  sub $10k bitcoin should be a think of the past, a story to tell your grand kids, like when cars used to be driven by people and had gas engines. 

7 27 19.png

7 27 19 bart.png

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Posted (edited)
57 minutes ago, MaxMad said:

Any reason to be keeping it back under $10k? Everything seemed to be enjoying a 4-5% kick this morning. Then dump. 

I don't think so...just a period of volatility......we probably will hold 9K and base again for a higher move. Just a summer lull. @Eric123 has the right idea.

Let it ride and go to the beach.

I have tickets to see  the Rolling Stones tonight. I hesitate to recommend sex, drugs and rock and roll, but they've always worked for me.

Edited by dr_ed

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