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Charting the course of XRP


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5 hours ago, AlejoMoreno said:

None of this movement is organic as far as I’m concerned. Manipulators are taking advantage of low volume to jerk the market around.

I think the idea of someone trying to push the price down is absurd but it seems that’s what’s happening.

You have random squeezes that always get followed by dumps.

Yesterday's  reversal was on rising volume I like to look at volume number on the CMC 3 month chart. The numbers are off, but you can see the trend better than Trading View, I think.

The problem with waiting to see if you have a good month and absolute confirmation of any reversal is that you usually lose a good portion of the first move of any rally.

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I was participating undercover :).  The trolls became too overwhelming while XRP was in the dumps, I figure its safe to come out again.

There are actually several lawyers in the crypto space who have analysed the case extremely closely explaining how the case will likely play out. Given that these lawyers are either BTC or ETH maxis a

These threads are being derailed by childish banter, could you please keep things on topic and move your chit chat elsewhere. The forum is becoming less interesting for many of us.

Just now, Uloveme said:

It looks like the cryptohawk guy closed his Twitter account. He posted this last weekend:

Screenshot_20191219-145710.thumb.jpg.23319bbc6e2638adc605eb135eae407f.jpg

 

Went long just before the dip, he did not state his stop-loss sadly.

The guy had some TA talent, but he was a known scammer who has caused a lot of people to lose their money. Good riddance. Be skeptical of anyone who wants to manage your portfolio.

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9 minutes ago, dr_ed said:

The guy had some TA talent, but he was a known scammer who has caused a lot of people to lose their money. Good riddance. Be skeptical of anyone who wants to manage your portfolio.

I was hoping you could manage mine, together with Eric123, Molten and KevClem… I would pay just to see you guys get consensus

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I just looked at VET. I expect another  modest down wave and then maybe we head back up if BTC doesn't tank again.

XTZ didn't drop much with BTC but now it's corrected.....it is in a buy zone for me. I might add if I can get some fiat on the exchange today.

7 minutes ago, Caracappa said:

I was hoping you could manage mine, together with Eric123, Molten and KevClem… I would pay just to see you guys get consensus

You, my friend, have a wicked sense of humor.

I'm making up with @KevClem. I misjudged him badly.I am not kind to people who make my troll detector go off.....but it was a false alarm in his case.

I misjudged him because his posts were so short, and he showed up at the exact wrong time..........He really has a lot to add to the forum, and I hope he can write more paragraphs.

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Nothing has changed on XRP. My takeaway from the chart is...........that when we started dipping below .22, we were flirting with this level, and if you go back and look, I think somebody asked me then what I thought, and my response was that I though we would hold .18.  I'm not the least bit surprised to see this. 

I'm surprised this last little drop has made sentiment so much worse. Insult addd to injury, I suppose and people calling for sub 3K BTC, which I view as unlikely.

The longs are out  in force because people believe in the scarcity narrative and the effect of the halving, That's going to continue. All the way to whatever bottom BTC finds.

I started reducing XRP when the SWELL pump fizzled. I knew that without a breakout that the price would be vulnerable to serious drops. To me, so far, this isn't too bad. If we start getting down below .18 and certainly if we close much below that, then we could drop to that 3 sat level. I am only at 10% of my full  bag position now, but I would cut to a "placeholder" if we don't hold this level. Intraday dips don't bother me as much as a lower close or a slow bleed down to .15.....that sort of action is bearish. A wick down followed by a good bounce is not so bad.

As @Raekwon mentioned, BTC dumps are very hard on XRP and it isn't bouncing well. It was back in late September, early October.....but it has gone back to the previous action.....fwiw we see the same thing with most alts.

IMHO that's because at this moment in crypto history BTC dumps are killing sentiment for all coins, although random alts still pump for one reason or another.

I am buying dips as long as .18 seems to be holding well.

 

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4 hours ago, jbjnr said:

On environmental grounds alone I could not hold BTC (or any POW coin). It is a shame on humanity that it is allowed to continue to exist at all. The Chinese government should make it illegal to mine any coin (or at least use more than a government/WTO/UN approved amount of power to do so) and western governments should follow suit.

I believe a majority the mining comes from renewable energy, and has ironically spurred investment in renewables.  I do agree though, that ultimately the energy distribution would be better used to power other things that are poisoning the planet.  I wouldn't be against legislation to limit large scale mining capacities as well as other proactive measures against cars or eating meat, but that doesn't mean tomorrow I'm going to give up driving my gasoline powered vehicle or eating a steak either without a societal compromise.

Edited by ManBearPig
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7 hours ago, dr_ed said:

I'm making up with @KevClem. I misjudged him badly.I am not kind to people who make my troll detector go off.....but it was a false alarm in his case.

I misjudged him because his posts were so short, and he showed up at the exact wrong time..........He really has a lot to add to the forum, and I hope he can write more paragraphs.

Thanks @dr_ed. I need to be more mindful on how I post so I don't come across as a total troll.

I have been bearish as of recent times, which makes the challenge of posting without p$ssing off people even harder.

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1 hour ago, KevClem said:

Thanks @dr_ed. I need to be more mindful on how I post so I don't come across as a total troll.

I have been bearish as of recent times, which makes the challenge of posting without p$ssing off people even harder.

Well I certainly got put off.  I user ignored you, but have set it see your posts again.

Comments can be harsh, but they must be constructive.

To change someone's mind you first have to find the common ground and challenge the listener towards your point of view on areas of contention.

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6 hours ago, KevClem said:

Thanks @dr_ed. I need to be more mindful on how I post so I don't come across as a total troll.

I have been bearish as of recent times, which makes the challenge of posting without p$ssing off people even harder.

I’ve been offline a bit lately so missed whatever Doc is talking about (and this annoying drop).  But yeah,  I thought you were a dead set troll.  Sorry if I misjudged you.  

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53 minutes ago, Tinyaccount said:

I’ve been offline a bit lately so missed whatever Doc is talking about (and this annoying drop).  But yeah,  I thought you were a dead set troll.  Sorry if I misjudged you.  

I'm not a troll, but can at times appear to be. I'll be more mindful how I post moving forward.

Enough of me in this thread, it's a charting thread.

Edited by KevClem
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17 hours ago, ManBearPig said:

I believe a majority the mining comes from renewable energy, and has ironically spurred investment in renewables.  I do agree though, that ultimately the energy distribution would be better used to power other things that are poisoning the planet.  I wouldn't be against legislation to limit large scale mining capacities as well as other proactive measures against cars or eating meat, but that doesn't mean tomorrow I'm going to give up driving my gasoline powered vehicle or eating a steak either without a societal compromise.

There is an element of truth in that. Crypto miners are using cheap energy in China. However, solar and wind energy are intermittent and there is no evidence that miners in China are powering down their rigs at night or other periods when renewable energy isn't available. Energy production in china is approx 70% provided by Coal fired powered stations and so in reality the majority of energy being burned by crypto miners is in fact not clean.
There is also no evidence that the producers of the energy who are receiving income from crypto mining are using that revenue to improve distribution of that clean energy to urban conurbations where it is needed and could be sold at a higher price, or storage of that energy for later use. Government subsidies have been used to create large renewable energy farms, but the income from selling cheap energy to miners does not raise enough to fund redevelopment of the energy grid. Overall, crypto mining is not improving the planet, the future lies with other consensus algorithms.

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1 minute ago, Fidel_Castro said:

Meanwhile Mr. Garlinghouse continues to spread a total lie :)))

https://u.today/ripple-ceo-predicts-that-20-biggest-banks-will-trade-crypto-in-2020

The last time he predicted banks using or trading it he was expecting regulations to come faster than reality.

Now with the Volcker rule active jan 1st 2020 and Europe (germany especially jan 1st) he might be more right than before.

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3 minutes ago, Fidel_Castro said:

Meanwhile Mr. Garlinghouse continues to spread a total lie :)))

https://u.today/ripple-ceo-predicts-that-20-biggest-banks-will-trade-crypto-in-2020

The only total lie here is the title of that article:

Ripple CEO Predicts That 20 Biggest Banks Will Trade Crypto in 2020

 

Actual quote from Ripple Insights:

"CEO Brad Garlinghouse is even bolder, predicting that half of the top 20 biggest banks in the world will actively hold and trade digital assets in 2020. He is also one of many on the team that believes fiat currencies will go digital in the next year."

 

Please stop posting blog websites from people that are not journalists, it's not doing anyone a favor.

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