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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.

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.

I believe that i this time must correct you @Seoulite - if you wanna tell, where a candle exactly stopped you can not use the body of a candle but its shadow. So someone who only read your text without looking at the picture could understand that there were no new low, what is wrong. But the second drop has builded a new low. So technically it is a downtrend (lower high, lower low).

Edited by madmellow
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2 minutes ago, madmellow said:

you can not use the body of a candle but its shadow.

But the shadow (wick?) Only indicates the lowest price during that period of time though - doesn't it? Surely you must take the price it finished at during that time period. 

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6 minutes ago, banistersmind said:

But the shadow (wick?) Only indicates the lowest price during that period of time though - doesn't it? Surely you must take the price it finished at during that time period. 

What i wanted to say is not to ignore the shadows and wicks of candles. The message „stopped exactly at the same pip“ is technically wrong.

Edited by madmellow
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10 minutes ago, madmellow said:

What i wanted to say is not to ignore the shadows and wicks of candles. The message „stopped exactly at the same pip“ is technically wrong.

I think I understand what you mean. When you're referring to shadows, are you referring to the bottom most bars of the graph? Are they the bars that indicate the volume traded on a given time point?

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17 minutes ago, banistersmind said:

I think I understand what you mean. When you're referring to shadows, are you referring to the bottom most bars of the graph? Are they the bars that indicate the volume traded on a given time point?

The shadow is the thin line under a candle, the wick indicates the line above a candle. The body of a candle is made of the very first price (the entry tick) and the very last price of a candle before going to the next. The bars indicate the price not the volume. The direction of a movement is not dependent from the volume that is underlying.

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47 minutes ago, madmellow said:

I believe that i this time must correct you @Seoulite - if you wanna tell, where a candle exactly stopped you can not use the body of a candle but its shadow. So someone who only read your text without looking at the picture could understand that there were no new low, what is wrong. But the second drop has builded a new low. So technically it is a downtrend (lower high, lower low).

I'm afraid I disagree. I know it goes against conventional wisdom but I believe the body of the candle is where the bulk of the volume is, and therefore it is more significant. I agree one shouldn't completely ignore wicks, but they are more misleading than bodies, as they can be drastically different according to different exchanges, and can give a false idea of a nice high or a new low. 

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21 minutes ago, Caracappa said:

Popcorn ready! 

I've got the feeling XRP wants to correct a little further. Let's see if Jed his selling in about 20 minutes from now can push it over that edge of correction. 8.4million XRP ready to sell, commencing 10:00 Amsterdam/Paris time.

https://bithomp.com/explorer/rLkMJhSVwhmummLjJPVrwQRZZYiYQhVQ1A

Does the bot just market sell like a million xrp at a time?

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3 minutes ago, Seoulite said:

The deep pocketed ones.

Do we have any clue how these markets are manipulated? I am no TA expert but my gut feeling also tells me these markets are being manipulated. Do we think the volumes that we are seeing are x% fake and that the market is much more thinner than we all think? If I am not mistaken Coinbase already pumped volume by using bots that trade with each other (for which they were fined). 

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