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Is this what caused the pump yesterday?


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4 hours ago, VanGogh said:

It was also about this. Start at 45 minutes and listen for a couple of minutes. What she says is brilliant:

 

I think it was just a bounce off the $.28 support level. It’s held strong there before on 1d charts. Also, tested that level two more times in the 48hrs leading up to the spike on 1h chart. Along with low volatility sitting between $.28-$.29 for those 48hrs. This logic makes more sense to me than any qualitative reasoning, which has zero metric and lack of substantial publicity. Especially this video and its 1k views. I just don’t see a 10%+ price change coming from the Paris Finetech Forum at specifically its 45min mark. That being said, I think it’s awesome this community stays up to date with these forums. They’re critical to crypto success and what she said was definitely positive! 

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Unless I'm reading this wrong or misinterpreting...they are saying they saved over 13k on the transfer fee. So was this a multimillion dollar xRapid transfer? I thought they said they'd be gradually a

Let's work this out based on their previous tweet where a food company saved £79.17 from sending £3521.67 $13,232 is £10,074.74 so we can work with a calcuation in the same currency. £79.17

Christine Lagarde IS brilliant and I am super impressed with her every time I see her speak. If you bypassed the story at 7:21, go back and listen... and imagine one of the most powerful and important

5 hours ago, djdhrubs said:

 

Unless I'm reading this wrong or misinterpreting...they are saying they saved over 13k on the transfer fee. So was this a multimillion dollar xRapid transfer? I thought they said they'd be gradually adding zeros to the transaction fee size as time went by? 

Am I reading this wrong?!

The bump was due to the US Fed changing its interest rate policy. All risk assets saw a jump. In other words, the music will play a little longer, then QE4-finity :sarcastic:.

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2 minutes ago, Money-Moves said:

I think it was just a bounce off the $.28 support level. It’s held strong there before on 1d charts. Also, tested that level two more times in the 48hrs leading up to the spike on 1h chart. Along with low volatility sitting between $.28-$.29 for those 48hrs. This logic makes more sense to me than any qualitative reasoning, which has zero metric and lack of substantial publicity. Especially this video and its 1k views. I just don’t see a 10%+ price change coming from the Paris Finetech Forum at specifically its 45min mark. That being said, I think it’s awesome this community stays up to date with these forums. They’re critical to crypto success and what she said was definitely positive! 

The amount of positive news yesterday was astounding. Yes it tested and held the .28 price point but largely your point is absurd. 

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46 minutes ago, djdhrubs said:

@hallwaymonitor being confused lol!

I could be talking rubbish.

I've read that if there is rubbish liquidity with the XRP/fiat pairing on an exchange, they can source liquidity through XRP/ETH for example, and then ETH/ fiat (for which there may be better liquidity).

I have no idea whether this is anything more than a theory though.

I'm a little bit confused because I don't remember reading that XRP/BTC or XRP/ETH pairs could also be utilized with xRapid. I guess it is possible that today's xRapid utilizes some kind of cross-crypto pathfinding algorithm that could go for something like this:

1. Mustard company initiates xRapid payment in GBP to its Mexican supplier.

2. Crypto exchange A: Buy BTC / Sell GBP -> Sell BTC/ Buy XRP

3. XRP Ledger transfer

4. Crypto exchange B: Buy BTC/ Sell XRP -> Sell BTC / Buy MXN

5. The Mexican supplier receives MXN from the account of Crypto exchange B.

Whatever the functionality of today's xRapid is it must somehow circumvent the XRP/FIAT liquidity issue. Ripple is so much ahead of us. We are laggards compared to Ripple. I reckon Ripple must have recognized and ALSO reacted one way or another to the fact that XRP/FIAT liquidity is so poor in many crypto exchanges.

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5 hours ago, iLeeT said:

Who pays 13k for a single transfer anyway, unless they meant $13 lol. For 13k I'd hire a person, buy him a plane ticket and send him with the money to the destination (I sound like Brad don't I :D )

Furthermore, xRapid doesn't use market orders so it's impossible it can execute one tx worth 1M at one go.

It's pretty easy to spend that on a transfer with exchange rates...Bank fees etc it's only 1.3% of a million  transfer. 

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4 hours ago, djdhrubs said:

I could be making this up, but I think i read somewhere that they may even have an option of sourcing liquidity from XRP/BTC or XRP/ETH pairs. Something called rippling. I've no idea if this is actually used or not, or just a theory.

So it would mean an extra step in the chain. XRP to ETH to fiat, something like that.

It rings a bell with me, you're not going mad. I'm sure it's something to do with the pathfinding feature.

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4 hours ago, djdhrubs said:

@hallwaymonitor being confused lol!

I could be talking rubbish.

I've read that if there is rubbish liquidity with the XRP/fiat pairing on an exchange, they can source liquidity through XRP/ETH for example, and then ETH/ fiat (for which there may be better liquidity).

I have no idea whether this is anything more than a theory though.

https://www.quernus.co.uk/2018/01/14/currency-exchange-on-ripple/

This what you were thinking of? (maybe not the article, but the principle of the article.)

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11 hours ago, hallwaymonitor said:

I'm a little bit confused because I don't remember reading that XRP/BTC or XRP/ETH pairs could also be utilized with xRapid. I guess it is possible that today's xRapid utilizes some kind of cross-crypto pathfinding algorithm that could go for something like this:

1. Mustard company initiates xRapid payment in GBP to its Mexican supplier.

2. Crypto exchange A: Buy BTC / Sell GBP -> Sell BTC/ Buy XRP

3. XRP Ledger transfer

4. Crypto exchange B: Buy BTC/ Sell XRP -> Sell BTC / Buy MXN

5. The Mexican supplier receives MXN from the account of Crypto exchange B.

Whatever the functionality of today's xRapid is it must somehow circumvent the XRP/FIAT liquidity issue. Ripple is so much ahead of us. We are laggards compared to Ripple. I reckon Ripple must have recognized and ALSO reacted one way or another to the fact that XRP/FIAT liquidity is so poor in many crypto exchanges.

@justmoon replied in a twitter thread that FIs were originally given the choice to use BTC or XRP in xRapid but everyone chose XRP so that's the direction Ripple went.

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2 hours ago, ZerpEnthusiast said:

I guess this is a confirmation that the savings were related to Ripple? 

 

honestly, this is freaking awesome! Even if its not a 100% confirmation this transaction went through xrapid -- given the fact that mercury is extremely bullish on xrapid, outcomes like this are literally the best marketing ripple and xrp could get! Let the world know how much you'll actually save when you go with fintechs in the likes of mercury and ripple!

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14 hours ago, djdhrubs said:

They did that several hours after the pump.

Assuming the information was available around 2PM (+ or - 30 minutes), then I believe you are incorrect. The XRP pump began between 13:15 and 13:30, the Fed statement was "officially" released at 14:00.  https://www.federalreserve.gov/newsevents/pressreleases/monetary20190130c.htm

 

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