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Charting the course of XRP

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4 hours ago, WarChest said:

As I have asked  before, what price approximately, does XRP need to be in order to be a bridge currency for say 10%, 20%, 30% etc of cross border transfers per day?

I am not clever enough now know how to work that out, but plenty of people in the world with cross border banking experience must know that sliding scale. Surely? 
I don’t know why it’s a secret or not published, if XRP is used in say 30% of cross border payments per day, XRP must therefore be in the region of nn USD per XRP

I guess I am oversimplifying?

I do not know the exact answer to that (doubt anyone does, too many variables) but price is not the issue perse.

It has to do with how liquid an exchange is. So how thick the orderbooks are on both the buy and sell side. If a big transfer buys up the entire orderbook making the price fly up to a dollar its going to be a very expensive transfer. So there just need to be a lot of XRP for sale at close to eachother prices.

A higher price helps. But if the price is 10 dollar and the exchange only has 10.000xrp for sale on the entire buy side it would still be an expensive transfer.

Thats the reason only relatively small amounts can be transfered at a time currently. After that market makers need some time to rebalance the orderbooks back (giving them a small profit) and the next transfer can be done.

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Posted (edited)
3 hours ago, Caracappa said:

I do not know the exact answer to that (doubt anyone does, too many variables) but price is not the issue perse.

It has to do with how liquid an exchange is. So how thick the orderbooks are on both the buy and sell side. If a big transfer buys up the entire orderbook making the price fly up to a dollar its going to be a very expensive transfer. So there just need to be a lot of XRP for sale at close to eachother prices.

A higher price helps. But if the price is 10 dollar and the exchange only has 10.000xrp for sale on the entire buy side it would still be an expensive transfer.

Thats the reason only relatively small amounts can be transfered at a time currently. After that market makers need some time to rebalance the orderbooks back (giving them a small profit) and the next transfer can be done.

Exactly. Liquidity is the key to whether XRP is a success or not as a bridge asset, not its price. Slippage is occurring because right now there are often large spreads on the order book. That needs to significantly diminish for Banks to want to take the risk

Edited by ringer2

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8 minutes ago, ringer2 said:

Exactly. Liquidity is the key to whether XRP is a success or not as a bridge asset, not its price. Slippage is occurring because right now there are often large spreads on the order book. That needs to significantly diminish for Banks to want to take the risk

Yes liquidity is the key.   A higher price would help but only if there was sufficient volume.

The cryptoeri interview with Nick from FLashFx made exactly that point...  bigger volume begets more market makers begets bigger volume from tighter spreads and cheaper transfers.  It’s a virtuous circle once it’s running well enough.  That’s what we are watching right now...  it’s starting,  and hopefully will continue to ramp up more liquidity and corridors.

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25 minutes ago, ringer2 said:

Exactly. Liquidity is the key to whether XRP is a success or not as a bridge asset, not its price. Slippage is occurring because right now there are often large spreads on the order book. That needs to significantly diminish for Banks to want to take the risk

I'm closing down my XRPchat account. They say you should stop at the top. Ringer agreeing with me is the maximum achievement one can get on this forum. So I did it! Goodbye to all!

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Soooo. now we get to see if we had a one day pump or if we're going to trend higher. Not at all sure myself, but reasonably hopeful until proven otherwise.

I am at least temporarily back at full bags on XRP.

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1 hour ago, dr_ed said:

Soooo. now we get to see if we had a one day pump or if we're going to trend higher. Not at all sure myself, but reasonably hopeful until proven otherwise.

I am at least temporarily back at full bags on XRP.

Was as always just pump and dump. It collapses faster as it has risen.

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8 minutes ago, -X-R-P- said:

Was as always just pump and dump. It collapses faster as it has risen.

Not so far on this one. I expect traders to sell into any rally this close to a bottom., but yesterday we had buyers out in volume for the first time in a long time. And we haven't given it all back, either. We might, but your pessimism is premature, if understandable. We'll just have to see how the week plays out.

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6 minutes ago, dr_ed said:

Not so far on this one. I expect traders to sell into any rally this close to a bottom., but yesterday we had buyers out in volume for the first time in a long time. And we haven't given it all back, either. We might, but your pessimism is premature, if understandable. We'll just have to see how the week plays out.

Perhaps we are at disbelief

image.thumb.png.8388ad983e033db8c12e78fc33e56eb3.png

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I vote Depression. We need to move up a ways to upgrade to Disbelief.

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2 hours ago, dr_ed said:

Not so far on this one. I expect traders to sell into any rally this close to a bottom., but yesterday we had buyers out in volume for the first time in a long time. And we haven't given it all back, either. We might, but your pessimism is premature, if understandable. We'll just have to see how the week plays out.

This may be. But today I see a five-fold damping on all channels. Chris silver plated more than a million tonight, not sure if there are more. Maybe I'm wrong

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On 1/5/2020 at 4:48 PM, MQB said:

As well as several token deals.

The foundation definitely has a couple relatively big announcements under their sleeves.

Screen Shot 2020-01-02 at 22.39.25.png

Didn't answer my question

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