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Molten

Charting the course of XRP

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Was going to ask this in new thread but when I searched “volume” it brought me to this thread so I’ll ask my question here. Hopefully I’m not interrupting this thread...

I would just like any intelligent feedback on why volume is dipping down. I expected to see a gradual increase in volume but I know that I likely don’t have a complete understanding of how MG’s use could/should drive up volume. 

So to be precise: Shouldn't we be seeing a gradual increase in volume or are dips in volume on the way up to be expected? 

Source is: https://docs.google.com/spreadsheets/d/1pZ2POpljERK-oV3rusaCmq58U2badn5i9WOCIP9Wtmg/htmlview#

Thanks.

EF1CA9D4-9F1F-410C-BC6D-313B9CBB70BD.png

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35 minutes ago, Roaring_Twenties said:

Was going to ask this in new thread but when I searched “volume” it brought me to this thread so I’ll ask my question here. Hopefully I’m not interrupting this thread...

I would just like any intelligent feedback on why volume is dipping down. I expected to see a gradual increase in volume but I know that I likely don’t have a complete understanding of how MG’s use could/should drive up volume. 

So to be precise: Shouldn't we be seeing a gradual increase in volume or are dips in volume on the way up to be expected? 

Source is: https://docs.google.com/spreadsheets/d/1pZ2POpljERK-oV3rusaCmq58U2badn5i9WOCIP9Wtmg/htmlview#

Thanks.

EF1CA9D4-9F1F-410C-BC6D-313B9CBB70BD.png

I think the key here is that you are looking at Liquidity Index, not volume.  You'll have to rely on someone better informed than me to tell you what "liquidity index" means in this context, as I have asked that same question before to crickets.  Volume has been up, especially during this downturn.  Most of the volume is still driven by trading.

@dr_ed has been posting daily volumes on the Epic Pennant thread. 

Hope that helps.

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@baobeiiiii You are absolutely correct, we broke out of the descending triangle.  Not sure I agree that we've flipped into an ascending triangle, it actually look more like (not again) a symmetrical-ish triangle.  This one, if real, definitely has a bullish lean to it.  This bears watching and I'm not quite ready to call this pattern legit.

rUy3IEfi

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The BTC dominance chart continues not to disappoint as we touched the lower trendline (literally right at midnight as the chart suggested in advance) and are now bouncing back.  BTC is rallying right now and I expect this to continue.  BTC dominance could creep up to around 72% before it reverses back downward again.  This is our best case scenario: BTC rises quickly and we lag behind but continue to rise.  So far, so good.

dhtE5DAf

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36 minutes ago, Molten said:

I think the key here is that you are looking at Liquidity Index, not volume.  You'll have to rely on someone better informed than me to tell you what "liquidity index" means in this context, as I have asked that same question before to crickets.  Volume has been up, especially during this downturn.  Most of the volume is still driven by trading.

@dr_ed has been posting daily volumes on the Epic Pennant thread. 

Hope that helps.

Thanks @Molten

I expected this type of feedback. I agree that I’m likely mixing apples and oranges but when I look on the data tab it appears to me that it uses volume.

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7 minutes ago, Roaring_Twenties said:

I’d say that there’s a new Hungarian a hole on XRP Chat. I guess they wish to speak on our behalf.

 

I guess they are targeting accounts that are established/positive to turn into random FUDsters.

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45 minutes ago, Milly238 said:

Very interesting with the dominance.  So once it finishes the top of that triangle, what happens ? Or what is expected to happen?

The pattern usually ends in a downturn, so we could reasonably expect "alt season" to begin there.

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6 minutes ago, Molten said:

The pattern usually ends in a downturn, so we could reasonably expect "alt season" to begin there.

It sure is starting to look like a symmetrical triangle on XRP. Thoughts?

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