Charting the course of XRP

[xrp-nuke]

22 hours ago, Ripley said:

This weekend should be interesting. Silvergate is done and its network connects a lot of big entities.

Genesis about to file bankruptcy. I wonder if we will see Gemini file next.

What happens if Greyscale assets are dumped? Are there any buyers for those assets?

If Gemini files bancruptacy and be solvent, that is ok, I would say it is a painful migration to DEX, where XRPL should shine, unfortunatelly no robust product yet develop.

But if Gemini, and even more Bitstamp will be insolvent, that this is a huge crypto reputational damage imho.

But we never know how market digiest that.

Game wait and see is still in play, dont use your all cash 

[Guest]

33 minutes ago, xrp-nuke said:

I would say it is a painful migration to DEX, where XRPL should shine, unfortunatelly no robust product yet develop.

AMM is coming. It’ll be superior to smart contract based DEXes. All in good time.

[Nat99]

8 hours ago, Ripley said:

AMM is coming. It’ll be superior to smart contract based DEXes. All in good time.

What's AMM? And why is it superior? Would you have a source you can direct me to so that I can check this out?

[Guest]

2 hours ago, Nat99 said:

What's AMM? And why is it superior? Would you have a source you can direct me to so that I can check this out?

Sure. AMM is automated market making.

See the RippleX blog on this - https://dev.to/ripplexdev/a-proposal-for-the-future-of-the-xrp-ledger-dex-4l7e

Apart from AMM, everything else mentioned on that page (and a few things not mentioned on that page) have been available natively on XRPL since 2012. AMM is currently available on TestNet. I’m hoping to see it in MainNet this year - possibly before June.

Unrelated: Solana recently tried to take credit for the “first” on-chain DEX until he got schooled by David telling him that of course XRPL had it since 2012 and since day 1 has been far superior than Solana has built today 😃 The original tweet was deleted but if you use the right search, you can still find it.

[Guest]

We got a green wick with a higher volume not seen since the week of November 7. That said, you should always assume that exchange volumes are fake. 

I think it is unlikely that we will cross 0.36 this week. I would expect choppiness to continue.

Note, however, that macro is still bad and this quarter we are likely to see the impact of high interest rates on earnings. 

In crypto world, Binance has been losing a record number of assets since November. Low liquidity can cause temporary pumps, so be careful to not become exit liquidity.

1. Get out of CEXs.
2. If you are in the U.S., get out of Non-U.S. exchanges. You are not fooling anyone with using VPN. Your assets on U.S. exchanges are barely protected and your assets on non-U.S. exchanges are at high risk.
3. If you have to leave assets on U.S. exchanges, leave them in USD and not in stablecoins. Holding a stablecoin does not guarantee redemption in fiat. 
4. Within the U.S., some data suggests that Kraken is either willingly or unwittingly be part of some shenanigans around Tether. Be careful. 

P.S. Forgot to mention.. A lot of XRP appears to be moving from Kraken to a South African exchange called Valr (https://www.valr.com) over the DEX. A new corridor? 

Edited January 9 by Ripley

[xrp-nuke]

6 hours ago, Ripley said:

Kraken is either willingly or unwittingly be part of some shenanigans around Tether. Be careful. 

Same story since 2018.

6 hours ago, Ripley said:

Get out of CEXs

Unfortunatelly, 99% of people can not manage self-custody and will be open to hackers atacks, basically with good willings you open doors for more troubles.

[Guest]

50 minutes ago, xrp-nuke said:

Unfortunatelly, 99% of people can not manage self-custody and will be open to hackers atacks, basically with good willings you open doors for more troubles.

I agree. I think 99% ran out of crypto anyway 😃 they’ll come back at next ATH, to lose money again.

[Julian_Williams]

During the Christmas holidays I was approached by four different people who knew I invested in crypto (2 classical musicians and two builders).  All four wanted to know how to start investing in crypto, and would I do it for them? (no).

These are people who have been avoiding being involved, but are now getting vibes that they must not miss out on the explosion in crypto value that they feel in their guts is about to happen.  We are very early. Hold!

[Guest]

On 1/9/2023 at 10:48 AM, Ripley said:

I think it is unlikely that we will cross 0.36 this week. I would expect choppiness to continue.

I anticipate resistance here at 0.374. I doubt we'll close today above 0.36 but let's see. I think this bullish action across crypto is a trap.

[Nat99]

On 1/10/2023 at 3:49 PM, Julian_Williams said:

2 classical musicians

out of curiosity, what instrument do they play?

[Julian_Williams]

2 hours ago, Nat99 said:

out of curiosity, what instrument do they play?

Concert pianist and cello

[NMNR]

9 hours ago, Ripley said:

I anticipate resistance here at 0.374. I doubt we'll close today above 0.36 but let's see. I think this bullish action across crypto is a trap.

Looks like a false pump to clear some insane shorts. 

The USD stable coins charts looks suspicious too. 

Should BTC clear 18500 that would be quite interesting but I don't see the buy volume to support that. 

I wonder if this hype is being driven by earnings season.

Edited January 12 by NMNR

[MQB]

stage of disbelief?

[Nat99]

6 hours ago, Julian_Williams said:

Concert pianist and cello

Interesting. I used to play the violin from age 5 to 19. Classical musicians are interesting people when it comes to gut feeling.

[Julian_Williams]

7 hours ago, Nat99 said:

Interesting. I used to play the violin from age 5 to 19. Classical musicians are interesting people when it comes to gut feeling.

That is a very interesting remark.  Did you know some people know how fast the hearts are beating (interoceptive self awareness), and others are unaware of it?  The ones who know make much better traders on stock exchanges.   Gut feelings beat rational analysis in fine tuned decision making.