Jump to content
Eric123

Epic Pennant on BTC Chart

Recommended Posts

10 hours ago, Julian_Williams said:

I thought Ripple said they stopped OTC sales but not programmatic sales.  BTC has mining and sale of new coins.   Peroanally I do not think the programmatic sales have much more direct impact on prices than BTC mining.   Ripple do need funding to expand the XRP ecosystem, and the money is largely reinvested into  projects that will have long term positive impact on XRP prices.

They are reducing programmatic sales based on bad volume metrics from coin market cap website. They are reducing OTC sales as well but not completely eliminating them, forget all of the details they gave, I'm sure someone else will chime in.

There is a lot more demand for Bitcoin so the market is able to soak up whatever Bitcoin is sold on the market from mining generation. Programmatic sales have a much larger effect on XRP price as a result than mining. I know Ripple has been defending their sales (obviously as any company would) but I disagree about the effect on market price.

Ripple obviously second guessed themselves a few times on that effect as well since they had to bring the topic  with different explanations many times and ultimately decided they were using bad volume metrics and needed to reduce their sales immediately.

Share this post


Link to post
Share on other sites

XRP broke through, the short term downtrend  - looking at the long term chart this is really insignificant though.  SWELL is happening in less than a month - November 7-8 - I don't expect any positive price movement around SWELL as usually the contrary occurs but I doubt we fall this year as the price is already in the toilet.

Bitcoin keeps moving toward the end of this pattern which will occur at the end of the month if not sooner.  

10 14 19 bitcoin.png

10 14 19 XRP.png

Share this post


Link to post
Share on other sites
2 hours ago, Eric123 said:

I don't expect any positive price movement around SWELL as usually the contrary occurs but I doubt we fall this year as the price is already in the toilet.

I understand the sentiment, but cynicism isn't really a good predictor of price movement. 

Share this post


Link to post
Share on other sites
25 minutes ago, Eric123 said:

@baobeiiiii  

Have you watched the price movement around SWELL???  The price has fallen each time. That's not cynicism it's history.  

So maybe now it will go to the moon as people expect history to repeat itself (that is for the price to dump after Swell). 😆

Edited by Raekwon

Share this post


Link to post
Share on other sites
Just now, Raekwon said:

So maybe now it will go to the moon as people expect history to repeat itself (that is for the price to dump around Swell). 😆

Hopefully Ripple has some earth-shattering news for Swell.

Share this post


Link to post
Share on other sites
12 minutes ago, baobeiiiii said:

Hopefully Ripple has some earth-shattering news for Swell.

Yeah, it'll have to be good to get the price to jump AFTER Swell.  We've all been through this long enough... Chinese New Year, SBI, Bakkt.... it all amounts to nothing.  If people know about it, it's already priced in.  Smart money usually sells the news.

Share this post


Link to post
Share on other sites
On 10/12/2019 at 1:57 PM, baobeiiiii said:

Aka Jed McCaleb. Anyone know how long until he runs out of XRP? 

I speculate, if he currently has around 4.75 billion zerps, and currently selling on avg. 1 million a day; a liitle over 10 years; but in reality, he would run out probably much sooner than that, cause from start of 2020 he would be allowed to sell an even greater percentage of daily volume, and over the years to come, i guess, the XRP daily volume would just keep increasing......

Share this post


Link to post
Share on other sites

×
×
  • Create New...