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Less than a week ago I was suggesting we might still have to wait a long while for the XRP market to ignite.  Since then we have had 30% plus rise and volume of over 6 billion. A few more days like this and we will be over a dollar again. 

Thank you for your reliable bulletins through the long and cold cryptic winter during which everyone of us must sometimes have questioned what it was that made us hold stock that lost over 90% of its value and nobody else seemed to want to buy.  We never waivered.  We were never tempted by BTC propaganda. 

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the ongoing rally is instead an unavoidable release of pent-up pressure from XRP's continual growth in utility-driven sources of demand.

Sure glad to see XRP making what looks to be a definitive move out of its long running channel, but I'm not sure I agree with this. I think this is XRP being dragged up to another level by BTC, which has made all the decent alts look really cheap all-of-a-sudden. But I am excited by the continued excellent news with regards to the utility drivers, and it hopefully is beginning to be part of the equation.

This new move looks very Asian driven, which is not surprising, I guess, I wonder how much of it has to do with the rapidly evolving macro situation.

Thanks for all you do. I look forward to all your updates.

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19 minutes ago, dr_ed said:

 ...I think this is XRP being dragged up to another level by BTC

...This new move looks very Asian driven

Gave your comment a 'like' because you read the blog; thank you.  :thank_you2:

However, I think you're completely wrong on both counts:  

1) XRP stopped following Bitcoin weeks ago, and when it rallied, it clearly continued that de-coupling with very little correlation with BTC.  Not sure how you came to that conclusion. 

2) The rally started in the West, not the East.  The East has continued the rally three times now, however. 

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I have so much respect for your expertise on XRP. The last thing I want is a ******* match with Hodor. I have zero cred here. But I'm not without facts to back up what I'm saying here.

The day before the big move, couple of days ago, if you look at the CMC chart, you can clearly see that in BTC terms, XRP reached its lowest price since last September. I even made a comment here, that XRP was looking like a great swing trade. I see that was Monday evening, just minutes before this most recent big move began.

This is the basis for my thesis. Simple enough. It makes sense to me. What about that does not make sense to you? 

BTW, the same phenomenon can be observed with some of the other alts too. It isn't unique to XRP.  Right now, in this market, any time that yellow BTC line crosses over and dips below the green line, it means the rubber band is getting stretched. Whether you choose to believe that is up to you.

858644796_ScreenShot2019-05-15at8_23_10AM.thumb.png.5cf1d68d00cd08522236b4ab4d16c1d5.png

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I don't think either one is connected, and that the ongoing rally is instead an unavoidable release of pent-up pressure from XRP's continual growth in utility-driven sources of demand.

I hope you are right. I would like to think you are. Anyway it is about time the price goes up. So much has / is happening ... and will

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Posted (edited)
1 hour ago, dr_ed said:

This is the basis for my thesis. Simple enough. It makes sense to me. What about that does not make sense to you? 

In your first post, your point was not "XRP would make a great swing trade," but that "I think this is XRP being dragged up to another level by BTC," which indicates correlation of price movement. 

That's the part I disagree with - that BTC is (still) strongly correlated.  I don't think it is; I think BTC is merely a barometer of general crypto interest.

 

But ... you seem to have found a technique that's worked for you, so props.  But eventually, as the market changes or new leaders emerge, there will come a point where that relationship is dissolved completely. 

No worries & congrats on your successful analysis if it led to a profitable trade! 

Edited by Hodor

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Am I the only one in here who isn't enthousiast about this situation? 
I feel like there's a massive dump ahead of us and we'll be in the same old 20-30 cent range..

 

 

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Posted (edited)
25 minutes ago, MisterRipple said:

Am I the only one in here who isn't enthousiast about this situation? 
I feel like there's a massive dump ahead of us and we'll be in the same old 20-30 cent range..

 

 

Nop - you are not the only one ;-) There is going to be a very substantial rise in not too distant future, but first... I've made those two red circles on DR_ED graph to visualize what I think is gonna happen. They seem to be like same pattern being repeated right now in a bit greater scale. It may not be 20... but 30 followed by another pick, at least according to this scenario ;-) 

Also - the correlation between BTC and XRP seems to be still working - made recently quite a few XRPs selling them when BTC was rising, buying back when near the local tops.

Stopped this just before they started to rise in the same time - pure luck;-)

image.thumb.png.3a82a852f8b11f90d78af77f0efc3567.png

Edited by yezu

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7 minutes ago, yezu said:

Nop - you are not the only one ;-) There is going to be a very substantial rise in not too distant future, but first... I've made those two red circles on DR_ED graph to visualize what I think is gonna happen. They seem to be like same pattern being repeated right now in a bit greater scale. It may not be 20... but 30 followed by another pick, at least according to this scenario ;-) 

Also - the correlation between BTC and XRP seems to be still working - made recently quite a few XRPs selling them when BTC was rising, buying back when near the local tops.

Stopped this just before they started to rise in the same time - pure luck;-)

image.thumb.png.3a82a852f8b11f90d78af77f0efc3567.png

I think the odds for a substantial correction are quite good, but I'm not going short like some of the better traders.

I am a mere mortal, a simple hodlr of XRP, waiting for our Cinderella Story to come true. I think Hodor is correct is his long term view, and you probably are correct about the short term view. But we are in a new bull market, and the majority of surprises will probably be of the good kind for a while. But NOTHING goes straight up.

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On the whole BTC/XRP correlation, its just simple arithmetic that the correlation drops as BTC makes a big move first and leaves XRP (or any other alt) behind. They APPEAR  to be losing their correlation for a while...but I think it's very premature to assume the correlation is just going away.

I didn't buy the swing trade XRP btw. I was just reporting on what I thought was a tell.

 I bought LTC instead, because as I have said many times, my XRP bag is really, really full. And yes, I know LTC is junk. It's also up around 26% since I made the post on Monday night. XRP is not the only alt coin that pumped. This also is in support of what I'm saying.

I love XRP and understand ( to the extent that a non-expert can) that it is superior technology, and that it is the coin that hopefully will one day change everything about how we exchange value on this planet. But, in the meantime,  I'm a belt and suspenders investor, and I never put all my eggs in one basket.

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Hey, Hodor!
 

I thought that Agoric secured 4 mil in total investments from all the participants in the financing round, which xPring was only part of. From your blog it seems that Ripple invested 4 mil in Agoric, which doesn't seem correct. Correct me if I'm wrong.

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According to a press release on coindesk, Agoric has raised $4 million to continue its mission to make smart contracts more secure. New funding comes from Ripple’s Xpring, gumi Cryptos Capital, Kilowatt Capital, MetaStable Capital, Outlier Ventures, Lemniscap, Rockaway Blockchain and the Interchain Foundation, as well as additional funding from the Electric Coin Company (sometimes referred to as the Zcash Company, the for-profit institution behind the privacy-focused cryptocurrency zcash), Naval Ravikant and Polychain.

 

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