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Molten

Charting the course of XRP

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2 hours ago, Mpolnet said:

Agreed. I think they will focus on attracting developers to build on XRPL, which will inherently burn XRP. Last week I did some quick tracking of total supply via https://xrpcharts.ripple.com/#/ - below is the amount of XRP that was burned during the period 11/25/2019 - 12/02/2019.

image.png.d0a43ce0ef8986af5a3a49a3536bfa16.png

During that weekly period a total of 48,649 XRP were burned. Multiplying this by 52 weeks to project how much XRP will be burned a year gets us to ~2.53M however, we keep in mind that the amount burned is variable and can increase or decrease. 

If I'm not mistaken, I think the circulating supply actually may have dropped from 43.29B to 43.28B. Can somebody please check me on that? Thx

My guess, if this is true, would be from the burn due to increased XRP usage...

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43 minutes ago, GiddyUp said:

If I'm not mistaken, I think the circulating supply actually may have dropped from 43.29B to 43.28B. Can somebody please check me on that? Thx

My guess, if this is true, would be from the burn due to increased XRP usage...

You're right that circulating supply went from 43,299,885,509 to 43,285,660,917 however, I'm unsure what caused this decline. Usually, a decline in total supply hasn't been reflected in circulating supply. So not sure if coinmarketcap has started adjusting circulating supply based on the decline in total supply or if something else caused this.

EDIT: Imagine if Ripple started doing XRP buybacks (same as stock buy backs). Not sure if this is possible currently given the uncertainty in regulation but that would definitely send a signal to the market (and their partners) that they think the price of XRP is higher than current market price. 

Edited by Mpolnet

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4 hours ago, Mpolnet said:

Agreed. I think they will focus on attracting developers to build on XRPL, which will inherently burn XRP. Last week I did some quick tracking of total supply via https://xrpcharts.ripple.com/#/ - below is the amount of XRP that was burned during the period 11/25/2019 - 12/02/2019.

image.png.d0a43ce0ef8986af5a3a49a3536bfa16.png

During that weekly period a total of 48,649 XRP were burned. Multiplying this by 52 weeks to project how much XRP will be burned a year gets us to ~2.53M however, we keep in mind that the amount burned is variable and can increase or decrease. 

I think the XRPL was being stress tested during that time causing some burning, Sologenic maybe?

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BTC and XRP both almost simultaneously broke above their respective bearish trend lines that they have stayed under since early November.  Watching to see if the daily can close above. 

EDIT: Nice volume behind the green candles too.  Good start.

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Edited by Molten

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46 minutes ago, ManBearPig said:

I think the XRPL was being stress tested during that time causing some burning, Sologenic maybe?

Could very well be. Candidly, I'm unsure what caused the burn rate to spike. Not sure if they're testing stablecoin creation that's pegged to XRP but if I recall correctly that would also burn XRP. Or maybe it's just an uptick in transactions that's causing the spike. 

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35 minutes ago, Mpolnet said:

Could very well be. Candidly, I'm unsure what caused the burn rate to spike. Not sure if they're testing stablecoin creation that's pegged to XRP but if I recall correctly that would also burn XRP. Or maybe it's just an uptick in transactions that's causing the spike. 

Sologenic transaction handling tests were conducted on the XRPL mainnet. Dummy transactions testing two things: XRPL load test & Sologenic Transaction Handling.  — Via Twitter (cant link from phone right now)

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10 hours ago, Molten said:

Remember in 2017 when XRP would jump like 30 cents in one day?

Oh how the mighty have fallen lol.

Still, any green is better than red.  Will update charts later.

I remember complaining on the way down, on a particular day, when XRP went from 1.20 to around 1.50, that it was not rising quickly enough. 

Lol, live and learn. 

 

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6 hours ago, jMusic said:

Whilst we await the next chapter in XRP's story...Another token I am invested in is Hydro and it just took off. Look at that volume...

image.thumb.png.0faa3ef1b805ff43465986a645b8b63e.png

 

 

Volume 24hr is 1 million. This looks like an attempt at a pump and dump to me. Especially as it dropped right after this. P&D's are done best on low volume coins.

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