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tacostand and XRP price


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I'm guessing we are not going to see a significant upwards move in price until "mr tacostand" mccaleb finishes selling his quota of XRP for this period.

He has been selling since Jun 6 and sold about 55 million XRPs until now. We will probably see another 30-45 days of him selling now, so no major price action until the end of this period. 

 

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So we worry about his millions per day being sold...  meanwhile just one customer going full on XRP would swamp that...  look at how Billions of dollars in settlement assets are held by Moneygram....

58 minutes ago, automatic said:

. To illustrate this, consider that at the end of the first quarter of 2019, MoneyGram carried over $3.4 billion in "settlement assets" on its balance sheet.

.

 

I think there is the currently the XRP price as part of the crypto market pre-usage,  and then there will be a whole different story post-usage.

David indirectly described the future announcement of Moneygram going full throttle as “the cool stuff”.  He obviously thinks it will be a significant event.

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1 hour ago, ed1 said:

I'm guessing we are not going to see a significant upwards move in price until "mr tacostand" mccaleb finishes selling his quota of XRP for this period.

He has been selling since Jun 6 and sold about 55 million XRPs until now. We will probably see another 30-45 days of him selling now, so no major price action until the end of this period. 

 

Nice try Ed.

He has been selling for years, with a little pause in between recently. He was selling in 2017 when XRP went from $ 0,005 to $ 0,40 and he was selling when it went up further to $ 3,40. The percentage selling has increased a little according to contract and volume is higher nowadays.

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28 minutes ago, Tinyaccount said:

So we worry about his millions per day being sold...  meanwhile just one customer going full on XRP would swamp that...  look at how Billions of dollars in settlement assets are held by Moneygram....

...but...but... I thought that Frances Coppola said that trapped liquidity was a myth? 

:give_rose:

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2 minutes ago, automatic said:

...but...but... I thought that Frances Coppola said that trapped liquidity was a myth? 

:give_rose:

She hasn’t got anything right since Apocalypse Now.    :) 

 

/s

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lool when the OP said 'tacostand' I thought it was some angry inference. That address is indeed resigistered as tacostand. That's pretty ****** on Jed's part. There's not really any positive connotations that 'tacostand' brings up. 

Edited by baobeiiiii
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48 minutes ago, Caracappa said:

Nice try Ed.

He has been selling for years, with a little pause in between recently. He was selling in 2017 when XRP went from $ 0,005 to $ 0,40 and he was selling when it went up further to $ 3,40. The percentage selling has increased a little according to contract and volume is higher nowadays.

It is true, although he used to sell about 52000 per day, now he is selling 1.1M. I guess a sustained run to above 1$ is pretty difficult when the daily supply get a boost like this. 

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54 minutes ago, Tinyaccount said:

So we worry about his millions per day being sold...  meanwhile just one customer going full on XRP would swamp that...  look at how Billions of dollars in settlement assets are held by Moneygram....

 

I think there is the currently the XRP price as part of the crypto market pre-usage,  and then there will be a whole different story post-usage.

David indirectly described the future announcement of Moneygram going full throttle as “the cool stuff”.  He obviously thinks it will be a significant event.

Moneygram isn't suddenly going to hold all of its assets in XRP, neither will the companies using such services. We are still years away from those days unfortunately. In the meanwhile, XRPs daily volume in openmarketcap is 67M USD, so yes 1.1M additional XRP supply introduced per day does dampen any upwards pressure.

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4 hours ago, ed1 said:

so yes 1.1M additional XRP supply introduced per day does dampen any upwards pressure.

Just as it has done all of this time.  I don’t understand why you bring this up now.  It was happening during the large rises we have seen previously so it clearly doesn’t stop price from rising when it wants to do so.

The amounts are low in terms of daily volumes.  What you, and others with this concern, say is that it stops the rises,  but in fact the proof is in the pudding...  we have risen in the past while this was happening so it clearly is not a blocker.

Obviously it has an affect... whether that is a significant, or an insignificant, effect has been debated here endlessly but there are actual runs on the board, so I think it’s wrong to say as you did at the start that no rise is possible till it stops.

 

4 hours ago, ed1 said:

Moneygram isn't suddenly going to hold all of its assets in XRP

Are you sure about that?  What were the terms of the deal with Ripple?  That’s unknown unless you are an insider?

Obviously there are corridors that XRapid won’t service effectively as yet,  but potentially Ripple could use its war chest to force those to function adequately.  It actually IS possible that they switch almost totally to XRP instead of prefunding and do end up holding a large XRP pile instead of a much larger fiat prefunding amount.

I’m not saying they will,  but I am saying it’s a possibility.  But also if Brads statement about dozens of banks was based on an understanding of his customers plans, then even if they were held up by slower than expected regulatory certainty,  it’s possible that some of those are about to surface given the recent rulings in various jurisdictions.

 

I guess what moves me to write all this is that it annoys me when I see someone so positive that they know what is happening,  and how it will affect price,  and why,  when in fact the price and its movements have been a mystery even to Ripple executives.  But hey, maybe you do know more than them.

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