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Can issuing OfferCreates of XRP push up the price of XRP?


rippleHero
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Hi, I was wondering if I just issued an OfferCreate to exchange XRP for BTC, for an excessive amount of XRP, would that push up the price of XRP? For both the case the Offer is canceled and executed.

Edited by rippleHero
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16 minutes ago, Chris_Reeves said:

The only way to impact the price is to actually buy through all of the sell walls that exist. Buying and cancelling wouldn't do anything other than potentially fake volume.

Can you translate this?

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58 minutes ago, Chris_Reeves said:

The only way to impact the price is to actually buy through all of the sell walls that exist. Buying and cancelling wouldn't do anything other than potentially fake volume.

Right @Chris_Reeves so if you wanted to create fake volume, creating offers and then canceling them would work. But the fact that you create an offer would not push up the price? (Unless you execute/fulfill the order).

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1 hour ago, rippleHero said:

Right @Chris_Reeves so if you wanted to create fake volume, creating offers and then canceling them would work. But the fact that you create an offer would not push up the price? (Unless you execute/fulfill the order).

It would create XRPL TX volume. It would not create any (even fake) market volume.

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15 minutes ago, BehindtheLedger said:

Using the word volume for unfilled, cancelled orders is a stretch. That behavior - entering and canceling orders - would not result in either trade or payment volume. 

I know, but the number of txs would be higher, as is already the case.  People are often going "look at all this XRPL tx volume!" only to be told, yeah but it's all order creates and order cancels.

It still shows up as higher on ledger txs on the Ripple site, so people see it as tx "volume".

But there would obviously be no change or hint or price movement from this. And it 100% shouldn't be referred to as volume.

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