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Charting the course of XRP


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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.

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.

I really don’t understand why the forum has been getting so heated lately when we are doing SO WELL after YEARS of being in the gutter. You’d think everybody would be saying hello, good morning, how a

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12 minutes ago, Akovo said:

The higher we go on BTC the bigger correction must come. Some analysts say that a correction between -40 and -60% is to be expected. The question is, will such correction ever come and how will it affect XRP and the alts. 

I have to disagree, like I did many times before.

Correction only happens if governments around the world stop printing money. not happen during covid time.

Flash crashes like yesterday do happen buy it makes price go up quicker

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XRP flash crash or breakout or both

I think flash crash first and breakout later. Since there is more than 10 mil sell and buy walls in binance

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1 hour ago, Jack21 said:

May be, may be not, a lot of thing is unknown about Flare. But I am seguro that Flare will take XRP to the 2nd postion because of its DeFi

Flare is a baby compared to Ethereum.  A lot depends on how many Eth projects come to run on Flare as well as successful new projects that are launched on Flare.

I would wait for a few years before comparing it to Ethereum. 

Currently real utility in XRP seems all smoke and mirrors. No one knows what utility is out there, if any

I wonder why ODL volume in other countries where XRP is legal hasn't really taken off. 

ETH has current utility (Defi etc). Lots of innovation going on it.  New products are launched every year and atleast crypto users are using them

Almost every new blockchain with smart contracts is building a bridge to ETH, which will further strengthen ETH. Its very hard to replace established players who are well set with (due to network effects). Eth is slow but it is the dominant smart contract system in play now.

Also there are a few blockchains which are faster than XRPL and work with ETH value. (Avax, Near etc). But these are not as big as XRP in terms of market cap and liquidity.

 

 

 

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5 minutes ago, strikerjax said:

Flare is a baby compared to Ethereum.  A lot depends on how many Eth projects come to run on Flare as well as successful new projects that are launched on Flare.

I would wait for a few years before comparing it to Ethereum. 

Currently real utility in XRP seems all smoke and mirrors. No one knows what utility is out there, if any

I wonder why ODL volume in other countries where XRP is legal hasn't really taken off. 

ETH has current utility (Defi etc). Lots of innovation going on it.  New products are launched every year and atleast crypto users are using them

Almost every new blockchain with smart contracts is building a bridge to ETH, which will further strengthen ETH. Its very hard to replace established players who are well set with (due to network effects). Eth is slow but it is the dominant smart contract system in play now.

Also there are a few blockchains which are faster than XRPL and work with ETH value. (Avax, Near etc). But these are not as big as XRP in terms of market cap and liquidity.

 

 

 

Have you tried eth defi recently, are you happy with the fees? I don't 

Flare fee is 0.1 and eth defi is 15

4 and wait 2 days

which one would you use

eth is not designed for defi, because it cannot scale.

xrp and flare does, and they are professional bankers

 

 

Edited by Jack21
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24 minutes ago, Akovo said:

The higher we go on BTC the bigger correction must come. Some analysts say that a correction between -40 and -60% is to be expected. The question is, will such correction ever come and how will it affect XRP and the alts. 

You are right, you can safely expect the correction to come. When it does, people will exit BTC and reinvest their earnings into alts which will pump one after the other.

BTC will crash (a bit) and others will pump. Then the earnings will go back into BTC. Then back into alts. Rinse and repeat for 9-12 months until people decide they have enough.

I have a nice metaphor for this. The crypto market is a souffle. At some point, a sledgehammer will smack down the souffle back into a pancake. The name of the game is to put your finger (or your hand, your head or even your......!) on the souffle. All depends on what you are willing to lose really. The longer you stay, the bigger the souffle gets... but beware of the sledgehammer! Whatever body part you have in there when the sledgehammer falls will end up being very very sore for a long, long time.

There will be little hammer taps along the way just to spice things up. But it's the sledgehammer you need to be scared of!

Edited by Troote
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23 minutes ago, Akovo said:

The higher we go on BTC the bigger correction must come. Some analysts say that a correction between -40 and -60% is to be expected. The question is, will such correction ever come and how will it affect XRP and the alts. 

I can see a -30%-40% , but -60% would be too much here.

I can see BTC going up to 50-80kg before going back to 40k , and end up the year at 120k+

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let's take the head of the investment firm as an example (google for his name)

He sold a half of his btc at 24k during xmas wait for the correction and btc is above 41k now.

the risk if waiting for correction is much higher than the risk of buying at current price

lesson learn when I trade btc at 7k

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18 hours ago, Pablo said:

Never trade with leverage unless you know absolutely what you are doing. And you don't.

This is really important. During the March crash a number of people got wiped out completely - even though I knew what the risks were, I had not considered the value of stablecoins at the time. As a result, the oracle at Nexo did liquidate a good portion of my collateral. They did recognize the issue was extreme and provided a reasonable and ethical solution, but at the most recent SEC dip...

Well I will say that I got lucky. I woke up at around 2:30 am and happened to see Crypto Eri's video about Brad's message warning that an SEC suit was likely. Having got into this situation with KIN and watched it drop to the floor, I quickly deleveraged on Nexo and got myself out at around $0.47 - BUT

Others were not as lucky. Once the offocial word dropped, Nexo halted the ability for people to repay their loans in XRP - but they did not halt their oracles which proceeded to liquidate their XRP collateral at around $0.21 and many people saw 90-95% dropps in collateral. Millions of XRP.

Screenshot_20201228-225754.thumb.png.f2e6945480c88fc46d41839c58ed519e.png

Now then, my experience with Nexo has been positive, but this situation concerned me a lot. In these extreme circumstances they have been know to reinstate people's leverage positions via their OTC and I know that for some people they have offered OTC options in the future should you get the capital to buy back in on a limited basis. However while the XRP lawsuit is in effect it seems that a number of companies are deciding that jurisdictions be damned, they are halting trading for everyone which is, in my opinion, a calculated and unnecessary move that is really all about spooking people out of the asset.

I got lucky in that I happened to wake up early and get my affairs in order prior to everything else going.

But folks should take Pablo's advice regarding leverage very seriously. It's a bit of a gamble, and it's not your house.

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1 hour ago, Troote said:

You are right, you can safely expect the correction to come. When it does, people will exit BTC and reinvest their earnings into alts which will pump one after the other.

BTC will crash (a bit) and others will pump. Then the earnings will go back into BTC. Then back into alts. Rinse and repeat for 9-12 months until people decide they have enough.

I have a nice metaphor for this. The crypto market is a souffle. At some point, a sledgehammer will smack down the souffle back into a pancake. The name of the game is to put your finger (or your hand, your head or even your......!) on the souffle. All depends on what you are willing to lose really. The longer you stay, the bigger the souffle gets... but beware of the sledgehammer! Whatever body part you have in there when the sledgehammer falls will end up being very very sore for a long, long time.

There will be little hammer taps along the way just to spice things up. But it's the sledgehammer you need to be scared of!

Indeed, and the 1 million dollar question is the when to pull out. I have my ideas, we'll see if they match with reality. 

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1 hour ago, Baka said:

I can see a -30%-40% , but -60% would be too much here.

I can see BTC going up to 50-80kg before going back to 40k , and end up the year at 120k+

One should remember that BTW doubled from 20k to 40k in weeks, the same could be done from 100k to 200k.

Edited by Akovo
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5 minutes ago, Akovo said:

One should remember that BTW doubled from 20k to 40k in weeks, the same could be done from 100k to 200k.

totally , it may go up really fast once we reach 100K , I said 120K but many are saying 250+k. 

Eric thinks it will go up to 400K.

It's all possible , I'm more pessimist I think but 120k is already a high price in 2021. 

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