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Charting the course of XRP


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6 minutes ago, xrp-nuke said:

It is backed, it just pekple annoyed that is not backed with what they want it to be backed. Anyway USDC, GUSD etc. Are there.

Explain to us what "cooperate paper" its backed by? You cant answer that. 80-90 percent is the daily volume for tether of the crypto market. 

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13 minutes ago, xrp-nuke said:

It is backed, it just pekple annoyed that is not backed with what they want it to be backed. Anyway USDC, GUSD etc. Are there.

How do you know? Come with facts please not just empty statements. No one wants it to be backed but the audited certainty that it's backed. Nothing else but it's just not there.

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14 minutes ago, Frisia said:

How do you know? Come with facts please not just empty statements. No one wants it to be backed but the audited certainty that it's backed. Nothing else but it's just not there.

Learn to read.

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10 hours ago, retep said:

And in holland we use subtitles so the original voices are being kept as it is and that is half the joke in this comedy, because half the fun is about language differences

Agreed. I’ve never understood people that watch movies/series in a language that isn’t the original. You don’t understand it? That’s what subtitles are for! IMO the original voices/language isn’t half of the fun in the content of movies/series, it’s even more than that! If what you’re watching is just cartoons then yeah by all means watch it in whichever language you prefer, but even then you’re losing a lot of the touch, cuz many times the originals have very specific speaking styles that are intentional and those things get lost in translation as well. My parents always watch everything in Spanish even though they both know english! I try to get my mother to watch content in it’s original voices, and when she listens, I’m like HOERA!!!! 

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Posted (edited)
1 hour ago, xrp-nuke said:

It is backed, it just pekple annoyed that is not backed with what they want it to be backed. Anyway USDC, GUSD etc. Are there.

Edit: I noted this later in this post but it’s worth putting it again high up here. I agree about USDC and GUSD. But that’s not the problem. A majority of crypto traffic TODAY is USDT. Has been for a long time. IMO the path from here to well-trusted stable coins might get rocky. And a lot of smaller coins might get destroyed in the process.


This isn’t about “what people want it to be backed by”. It’s about having a 100% transparency. Even if it actually is backed by fully counter-party risk free IOUs, without a 100% transparency there is a problem.
 

Because if something goes even a little bit wrong and even if one of those companies that hold IOUs are not able to pay back in a mass withdrawal situation, USDT won’t be able to maintain its peg and it’s game over. That’s the risk - whether it is real or not - and institutions will want to reduce their exposure to it.
 

Now, this also means more inflows into other well-audited currencies like USDC or GUSD, or into programmatic stable-coins like DAI, UST (Terra) etc. Whatever be the collateral - Treasuries, Gold, Fiat, Crypto - it MUST be backed by a path that verifiably and eventually by a real US Dollar. Otherwise it’s just an unofficial printing press and no central bank in the world will allow it. 

Edited by Ripley
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18 minutes ago, Neurotoxin said:

Agreed. I’ve never understood people that watch movies/series in a language that isn’t the original. You don’t understand it? That’s what subtitles are for! IMO the original voices/language isn’t half of the fun in the content of movies/series, it’s even more than that! If what you’re watching is just cartoons then yeah by all means watch it in whichever language you prefer, but even then you’re losing a lot of the touch, cuz many times the originals have very specific speaking styles that are intentional and those things get lost in translation as well. My parents always watch everything in Spanish even though they both know english! I try to get my mother to watch content in it’s original voices, and when she listens, I’m like HOERA!!!! 

Imagine the terminator saying "ich komme zurück" instead of "i'll be back". Nein, nein nein!!!:lol:

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22 hours ago, Seoulite said:

BTC falling as expected. Let’s see how far they drop. Good thing is that Xrpbtc has woken up. If we are really going, then it won’t matter what btc does. Looking at last daily resistance around 3500 sats, after that I am expecting a blast off similar to ethbtc. Xrpusd should find support around 1.42 whatever btc does now.

image.thumb.png.55875928d54d3c1ebfb92966b8d6c156.png

There's the BTC drop. I am expecting it to bounce somewhere around here, but I usually call bounces too early so I'm cautious. Anyway I still think BTC looks like it has some life left in it. Maybe if we start a full on crash here then the chart will look different, but at the moment it looks alright. 

m3OgTydI

Good news is that XRPBTC has held pretty much where we wanted it to: i.e. outside the previous range. If we can hold these levels then we can start getting more confident about the upside. XRPUSD has fallen lower than I would've liked, but we were still well within the range so not much has changed. We are still in the range. On the bright side the significant amount of buying and selling in this area for XRP is very encouraging. I said when we first broke into the 1-2 dollar range that every day we spend here makes it less likely that we will just dump back down. Well it's like a month later and I think it's safe to say we are not going back (barring a massive catastrophe black swan event). Some very old historic levels are coming in to hold us here, which is encouraging. This suggests a shift in the structure (of the monthly/yearly charts). It's getting boring to say but we look bullish. Still. Just waiting. It's going to come. I believe the spike we saw this weekend was large scale buying - accumulation big enough that it can't be hidden in the noise. The passing of  a whale. 

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2 hours ago, Trentsteel said:

That’s about where it’s price should be at within this bull cycle, it’s just super inflated due to Elon musk, ect 

Agreed, 38k is the price before Elon announced that he bought btc. 

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29 minutes ago, Elysium2030 said:

To be exact he says "ich komme wieder" in the German version ;) 

Wieder or zurück means the same in german.  

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On 4/26/2021 at 6:36 AM, Ripley said:

We’re still in the synchronised bot trading state we’ve been in for the past several days. We’ll continue to be there unless something fundamental changes.

Graph below with ETH(orange) and BTC(blue)

image.thumb.png.73a52b2fd9e1f5f200f656b22f5f4bfc.png

It has been 21 days since this post. We’ve been in about the same range.

image.thumb.png.34f61ecacf7a9cba888cef9397ef653b.png

We’ve largely moved in lock step with BTC, though ETH moved up a bit. April 1 to April 26 it was XRP’s time and in the past three weeks, I guess it was ETH’s time. Let’s see what happens in the next few weeks. 
 

Directionally though, the moves are still in sync across all three currencies.

image.thumb.png.381b0f37db2d14e0442b09ab8c14fe1b.png


Synchronised bot trading continues, and in shorter time-scales, the moves are replicated. 

image.thumb.png.71ccad11337acc7c09f201a8b6aec236.png

Nothing fundamental has changed.

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Posted (edited)
2 hours ago, Ripley said:

Edit: I noted this later in this post but it’s worth putting it again high up here. I agree about USDC and GUSD. But that’s not the problem. A majority of crypto traffic TODAY is USDT. Has been for a long time. IMO the path from here to well-trusted stable coins might get rocky. And a lot of smaller coins might get destroyed in the process.


This isn’t about “what people want it to be backed by”. It’s about having a 100% transparency. Even if it actually is backed by fully counter-party risk free IOUs, without a 100% transparency there is a problem.
 

Because if something goes even a little bit wrong and even if one of those companies that hold IOUs are not able to pay back in a mass withdrawal situation, USDT won’t be able to maintain its peg and it’s game over. That’s the risk - whether it is real or not - and institutions will want to reduce their exposure to it.
 

Now, this also means more inflows into other well-audited currencies like USDC or GUSD, or into programmatic stable-coins like DAI, UST (Terra) etc. Whatever be the collateral - Treasuries, Gold, Fiat, Crypto - it MUST be backed by a path that verifiably and eventually by a real US Dollar. Otherwise it’s just an unofficial printing press and no central bank in the world will allow it. 

Yeah USDT as Colateral is like domino, in case of DAI protocol will have to do it best to write off, for the rest DeFi would be their so called "insurance" stress test 😁

Edited by xrp-nuke
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1 hour ago, jockeyng said:

Agreed, 38k is the price before Elon announced that he bought btc. 

Not him, but Tesla. Since than a lot bought, but I guess Tesla and possibly Elons personal holding are gone 🤣🤣🤣

At least now BTC maxis forogot about XRP for a while 🤣🤣🤣Now they have new nemesis DOGE and Elon!

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Weekly and daily candle closes:

XRPBTC looks great. Starting to get very bullish on this chart. Weekly candle looks great. Daily candle closed outside of the range so hopefully this means we will be on our way to a new range soon.

CRIZRBUe

XRPUSD: weekly candle looks ok. Daily candle looks ok too but we are just right back in the middle of this range we've been in for 5 weeks. It will come. We will likely just blast out of here some time. Since we are in the middle of the range it's a coin-toss whether we go up or down from here on the 4H/Daily charts. But the longer term weekly and monthly charts still just look up up up.

aRxdYXfB

BTC: hanging on by a damn thread. The weekly close suggests it will hang on but its touch and go. One set of bad news could send it tumbling. I imagine a whole lot of people are panicking right now, especially if they bought at the top. The biggest thing that says to me 64k might've been the top is the fact that the Coinbase IPO was timed EXACTLY at that top. That's a pretty big coincidence at a massively significant level. 

BTC dominance: This is where we enter the twilight zone. On the weekly and daily charts there is this spike below the low, but it's not there on the hourly charts, which suggests to me that it might not be real. IF it is real, then BTC dominance made an all time low and is now bouncing. If it is not real, then we are still heading down. Impossible to say for sure, it's just curious.

taygyhWJ

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7 hours ago, Ripley said:

This Tether situation is a bad problem. Expect the market to continue taking a hit as institutions reduce their exposure to USDT. 
 

We’re back to the Tether problem yet again? Seems like we’ve been over this so many times now lol. It’s like a Herpes flare up. It’s always quietly there but then when it decides to show its face, everybody who already knew about it loses their shit. 

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