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Posted (edited)

Ripple is selling their escrow OTC from their distribution wallet. This amount of XRP is not included in the circulating supply until after it is sold. It is new coins coming on to the market out of escrow. The price in this scenario IS NOT correlated to the retail price of XRP, although the circulating supply increases each month. Ripple does not disclose how much they have sold this XRP for, or to whom. It has NO upward price effect on XRP, although the increased circulating supply has a slight downward effect. What people are saying about OTC sales impacting the market apply when the coins are ALREADY in circulation before they hit the OTC. Ripple's are not. It does not apply. Ripple employees even refer to transactions as retail or on the other ledger. Yes I know I am a newbie...but I have traded for decades OTC and am very familiar with how this works.

Edited by svhill11

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38 minutes ago, svhill11 said:

Ripple is selling their escrow OTC from their distribution wallet. This amount of XRP is not included in the circulating supply until after it is sold. It is new coins coming on to the market out of escrow. The price in this scenario IS NOT correlated to the retail price of XRP, although the circulating supply increases each month. Ripple does not disclose how much they have sold this XRP for, or to whom. It has NO upward price effect on XRP, although the increased circulating supply has a slight downward effect. What people are saying about OTC sales impacting the market apply when the coins are ALREADY in circulation before they hit the OTC. Ripple's are not. It does not apply. Ripple employees even refer to transactions as retail or on the other ledger. Yes I know I am a newbie...but I have traded for decades OTC and am very familiar with how this works.

Slight downward pressure is correct the debate is with 80% of all crypto volume being fake what is the true affect of the sales on price?

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It's still sour.. Some good news for IBM and Stellar goes up significantly while we had good news for the past year and nothing happens..

But not losing my faith.. Holding strong :)

 

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18 minutes ago, Guybrush said:

It's still sour.. Some good news for IBM and Stellar goes up significantly while we had good news for the past year and nothing happens..

But not losing my faith.. Holding strong :)

 

Are you looking for the pathetic and microscopic 7% once in a while on some noname or copycat of XRP ?

I am speculating right now as I am looking forward to the next bull run.

But then I will still be there for the utility on XRP.

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15 minutes ago, JannaOneTrick said:

Are you looking for the pathetic and microscopic 7% once in a while on some noname or copycat of XRP ?

I am speculating right now as I am looking forward to the next bull run.

But then I will still be there for the utility on XRP.

Oh, me too. That's why I said not losing faith. Still it feels a bit sour though. But the future's looking bright, not being negative here :D

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On 3/10/2019 at 12:47 AM, Doubletap said:

Stellar up 7.8% XRP down 0.31% it's looking more and more like we believers have been scammed while they sell out their xrp from under us . 

In case you didn’t notice before Stellar has been getting crushed the past couple months and is usually 50% of what XRP is. It’s just correcting and going on a long overdue run. XRP is not a coin for crazy excitement. It stays flat for the most part with little swings here and there. However, when this thing runs in runs in a BIG WAY. Look at the chart history. A lot of people bail out of XRP because of this and usually bail because others move up while it stays flat. They usually kick themselves in the a** later. 

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2 hours ago, Kavabata said:

E1QxH4fX

XRP has been in a large symmetrical triangle/pennant for around 210 days now. 

It is hard to tell whether we will break to the upside or the downside. There is not much to analyze. 

My intuition says break to the upside. 

Everything is timing, Why would Fidelity launch their Institutional platform right before the market was about to shoot down? 

I know everyone has been calling out this triangle for weeks now and that a breakout is around the corner.

I don't want to crush anyone's hopes but I will say a few things about this.

  1. The 0.8$ surge was experienced by XRP only, and was not an overall market behavior, it was due to tests being performed for 5 consecutive days between 1pm - 5pm GMT. The price has been slowly readjusting to the actual price it should have been without the September spike.
  2. Bitcoin is still leading the market.
  3. We still have a good 6 months before the consolidation phase ends.

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I agree with points 1 and 2, but I'm agnostic on point 3.

BTC is still so important right now that I consider the XRP chart to be completely irrelevant unless  you're trading it. And why would anybody, really? It's stuck. No trade there.

I'm a fan of Bob Loukas. I'm sure some of you have started following him on utube. I've known him by his writing for an awfully long time. He's a cycle counter (Walter Bressert's work fwiw).  By that approach, it is appearing that BTC bottomed and we're waiting on a confirmation.....or a breakdown.  I'd call the bear market over if we could just break through BTC 4200 on decent volume. jmho.

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39 minutes ago, Xrpchips said:

It's more likely we will see sub 10cents and a hug drop in BTC before we see XRP above 50cents. I'm sure nothing will happened in 2019. 

Yeah, I highly doubt that.  Nobody is selling anymore at these prices unless they need money.  The rich are playing these mini pumps and dumps from BTC 3500-4000 for now.  I don't know what 2019 will bring, but I am accumulating heavy.  If the 2017 run taught us anything, you don't want to blink when this space starts pumping.  

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42 minutes ago, Xrpchips said:

It's more likely we will see sub 10cents and a hug drop in BTC before we see XRP above 50cents. I'm sure nothing will happened in 2019. 

I prefer to just look at support and resistance and say that if we break out above BTC $4200 we've broken a long descending trend line running since just before Christmas, and that if we break down below $3400 or so then the bottom confirmation is broken too. I don't predict the future, I just read the chart.

So show your work, and defend your POV.

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23 minutes ago, KuNiT21 said:

Yeah, I highly doubt that.  Nobody is selling anymore at these prices unless they need money.  The rich are playing these mini pumps and dumps from BTC 3500-4000 for now.  I don't know what 2019 will bring, but I am accumulating heavy.  If the 2017 run taught us anything, you don't want to blink when this space starts pumping.  

By nobody you mean amateur investors and long term holders. You are right. The next dump will happened -and will be set in motion by a few big players causing havoc yet again. It's after this "final" dump the whales will turn the longest bear into a bull marked. 

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No work, no cred.

There could be another dip. But savvy traders like yourself (#sarcasm) must acknowledge that steadily rising volume for the last month is a sign that that the market is turning. 

Traders are made in two ways, in my experience. They either learn from somebody at a professional trading desk, or they get into it after their silly speculating puts them underwater. The second way is the hard way, and that's how I learned. When you learn to trade it tends to make you into a smug SOB. Resist the temptation.

Traders tend to miss out on big trends because trading requires one to take a set-up and take the profits when they happen. Those who manage to identify major bottoms, buy in, and hold until market tops tend to beat traders over the long run. Especially because of the way swing trades are taxed, for one thing.. Not sure where you are, but here I have to pay taxes on short term gains.

Occasionally, maybe once a decade, a unique opportunity to buy and hold and make real bank comes along. If you can find bottoms and ride them up, you can prosper with far less work than a trader puts in. The reason I don't trade more is simply because I'm lazy, and because I already have a job that pays me well. Nothing against trading for a living, but it's work.

The Porsche pic is a tell, btw. Some people make owning a Lambo their goal. My goal is to make work of any kind optional for the rest of my life, trading included. 

 

 

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XRP seems to be slowly morphing into a kind of stable coin as, besides following the BTC price moves, there appears to be correlation forming between XRP and some stable coins. I would say that it may be a blessing in disguise, as XRP is not backed by anything, except its utility (hope of utility at this time, which is essentially zero), but still it's resistant and stable. I would prefer XRP to be a stable and slow-growing asset over it being a swinger. That stability would be the best way of de-coupling from BTC and the market in general.

BUT, the relative stability of XRP also describes one condition specific to XRP and not characteristic to other cryptos. There are no significant parties interested in XRP price rising, instead there are significant parties interested in XRP price discovery. I was fuming about this for quite some time, now I take this condition, that helps keeping stability, as a silver lining to the cloud, for I can venture from XRP into speculative things and then return, knowing that XRP is still there.

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