Ripple’s Contractual Term with Over 200 Partners Behind XRP Low Price. Here is Why

[cryptoxrp]

Great article explaining why Ripple is succeeding with adoption and keeping the XRP price temporarily suppressed.

“Ripple has in their contracts with every single partner, the 200-plus partners which includes all the preferred exchanges and institutions, that they are required to acquire XRP via OTC”, the Podcaster continued. “They are not allowed to make purchases on the open market and the purpose of this is to temporarily keep the price of XRP suppressed.”

“The YouTube podcaster added that he was informed that the contractual term isn’t going to be long-term, it would be lifted later and we will see the floodgates open.”

“The goal today is broad distribution of XRP and a low price helps for that but we are getting ready to switch over as we see xRapid growing to actually send in payments, major payments through this system, and XRP price would ramp up”, the podcaster extended. “We’re going get more payments running through Xrapid and thus a higher and higher price.”

Source: https://todaysgazette.com/ripples-contractual-term-with-over-200-partners-behind-xrp-low-price-here-is-why/

Edited May 30, 2019 by karlos
corrected link

[dr_ed]

That sort of makes me want to double down. Hehehe. I shouldn't read articles like that.

[mandelbaum]

Heres one of the customers:

XRP used? dont know.

Edited May 29, 2019 by mandelbaum

[XRPforLong]

Oh my lord. Now I’m getting excited. By the HSBC document. The original post is exciting also but I’ve not checked it yet. Should we trust this person on a podcast?

[LiquidGoat]

it doesn't say that, it gives ripple as example. Then a full stop, then a statement about its own service. 

Cool your jets.

It is exciting, because its HSBC referencing ripple which is probably a good sign. It does not however say they sent XXX dollars with ripple tech..

Edited May 29, 2019 by LiquidGoat

[Archbob]

Yeah, Todaysgazette is usually total hopium based on very little information for every single crypto out there.

Also Ripple Esrow isn't anywhere near selling out, why would any of the FI even want to buy on the open exchange if they could buy it for cheaper from Ripple, the logic doesn't make any sense.

[XRPforLong]

36 minutes ago, LiquidGoat said:

it doesn't say that, it gives ripple as example. Then a full stop, then a statement about its own service. 

Cool your jets.

It is exciting, because its HSBC referencing ripple which is probably a good sign. It does not however say they sent XXX dollars with ripple tech..

I thought the same. Then I read the second page posted and you can connect the dots pretty easily. 

[Esprxp]

9 minutes ago, Archbob said:

Yeah, Todaysgazette is usually total hopium based on very little information for every single crypto out there.

Also Ripple Esrow isn't anywhere near selling out, why would any of the FI even want to buy on the open exchange if they could buy it for cheaper from Ripple, the logic doesn't make any sense.

The correct term would be "placebo", not "opium"...

[Archbob]

13 minutes ago, XRPforLong said:

I thought the same. Then I read the second page posted and you can connect the dots pretty easily. 

HSBC's FX everywhere doesn't even use Ripple.  FX everyone its HSBC's proprietary blockchain platform. 

https://cointelegraph.com/news/banking-giant-hsbcs-blockchain-platform-processed-250-billion-in-forex-in-2018

 

There are many articles regarding this in Jan/Feb this year.

However with SABB using Ripplenet, wouldn't be that surprising if they integrated it in the future.

 

As for new sites, smartethereum and todaysgazette are two I just pass over because most of their stuff is mostly unsubstantiated claims with sources either from random twitter or Youtube people.

Edited May 29, 2019 by Archbob

[LiquidGoat]

2 minutes ago, XRPforLong said:

I thought the same. Then I read the second page posted and you can connect the dots pretty easily. 

oh ****, did see page 2

well that is pretty big indeed

[cryptoxrp]

4 minutes ago, Archbob said:

Yeah, Todaysgazette is usually total hopium based on very little information for every single crypto out there.

Also Ripple Esrow isn't anywhere near selling out, why would any of the FI even want to buy on the open exchange if they could buy it for cheaper from Ripple, the logic doesn't make any sense.

The article is quite clear. Banks and institutions are buying directly from Ripple to keep the open market price down. The favorable conditions of these ‘XRP buy contracts’ are probably interesting enough for the buyers to accept.

As soon as the ‘open market buy/sell restrictions are lifted you will see a higher price due to real demand. As far as I can see quite a creative set-up which I do not consider to be ‘rocket science’.

And if you keep holding your XRP the new Ripple ecosystem (Swift 2.0) will reward you with a higher price as soon as the Xcurrent 4.0/Xrapid switches are set and the system goes live on a global scale.

Game set and match to Ripple, IMF, Central Banks and BIS.

[Archbob]

Claims without any proof aren't facts. Plus banks aren't buying all they can from the escrow, seeing how 70% of it goes unsold every month. Even if the escrow sold at 100%, it would still take nearly 5 years for it to sell out. Still just hopium for now. There is no magical 'switch', only extremely gullible people believe in that. These are the same "news" sources that kept touting tens or hundreds of dollars per XRP by now and how a 'bull run' is always around the corner. This is going to be an extremely slow process that takes much longer than most people think.

Edited May 29, 2019 by Archbob

[GiddyUp]

19 hours ago, Archbob said:

There is no magical 'switch', only extremely gullible people believe in that. 

Of course, everybody knows it's not a switch, it's a floodgate 

21 hours ago, cryptoxrp said:

"...the contractual term isn’t going to be long-term, it would be lifted later and we will see the floodgates open.”

 

Edited May 30, 2019 by GiddyUp
sp

[cryptoxrp]

2 minutes ago, Archbob said:

Claims without any proof aren't facts. Plus banks are buying all they can from the escrow, seeing how 70% of it goes unsold every month. Still just hopium for now. There is no magical 'switch', only extremely gullible people believe in that. These are the same "news" sources that kept touting tens or hundreds of dollars per XRP by now and how a 'bull run' is always around the corner.

Your ‘hopium’ conclusion is wrong. The fact that 70% of escrow goes unsold does not mean a thing. All XRP is already created and in the market. Only a large amount of XRP is in a few hands (same with Bitcoin).

The real XRP price is only influenced by real market demand and supply. And at present we are NOT seeing that. The article explains it and you don’t have to be very gullible to follow that line of thought. Many forum members have allready concluded that Ripple (in  collaboration with the exchanges and by means of OTC transactions) keeps the XRP price down to obtain a broad adoption at a low price.

The  Xcurrent 4.0 upgrade with Xrapid functionality is ‘the magic switch’. Instititutions and banks are upgrading at this moment and when they finish in the months to come they can choose for the XRP payment rail. As soon as that happens real demand will be the catalyst for a higher price.

[Archbob]

15 minutes ago, cryptoxrp said:

Your ‘hopium’ conclusion is wrong. The fact that 70% of escrow goes unsold does not mean a thing. All XRP is already created and in the market. Only a large amount of XRP is in a few hands (same with Bitcoin).

The real XRP price is only influenced by real market demand and supply. And at present we are NOT seeing that. The article explains it and you don’t have to be very gullible to follow that line of thought. Many forum members have allready concluded that Ripple (in  collaboration with the exchanges and by means of OTC transactions) keeps the XRP price down to obtain a broad adoption at a low price.

The  Xcurrent 4.0 upgrade with Xrapid functionality is ‘the magic switch’. Instititutions and banks are upgrading at this moment and when they finish in the months to come they can choose for the XRP payment rail. As soon as that happens real demand will be the catalyst for a higher price.

Articles like these have drawn many hopium conclusions in the past. Not a single one has ever been right. 70% of escrow not being sold means that demand from the FI's just isn't as great as these articles want to make it out to be. Ripple itself control more than half of the XRP possible and it sells a max of 1 billion each month. Most of it isn't being bought. If the banks were really planning to use it soon, they'd be buying every last one they can get. The one thing that people that promote hype refuse to even consider if that XRP's at its current price because that's how much its worth right now when you add utilization and speculation together.

This is basically a theory created by a "news" source that makes up hopium for all coins(not just XRP) and has almost never been right. Almost zero credibility. People who have "concluded" that ripple is trying to keep prices down are doing so with very little if any proof. XRP may have just been overpriced last year and it does move with the market. Its not a coincidence that the price of XRP jumped up right after Bitcoin jumped from $4000 to $8000. It moves with the market. Its not some special gem, at least not yet.

Edited May 29, 2019 by Archbob