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What caused XRP to drop


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People are simply looking for explanations for the price drop at XRP

What have I not read all for "reasons" why the price sinks, or why it should rise now.

Chinese New Year
Coinbase has destroyed the price, Coinmarketcap is to blame

SBI finally goes to the start!!!, Xrapid goes live, moon soon


Nothing happened.


and that is in my opinion the reason why XRP is slowly dropping.

The people have no more desire on new promises, which then nevertheless do not occur, the people do not believe any more in the healing news, which changes everything. 


Even the utility story could prove useless and fatigue the investors. A year ago ODL moved 100k a day, today 200 million. The price, on the other hand, has fallen and disappears into no man's land. So what should people believe in now? That Ripple will fix it somehow? 


Without new money, without the mass media, which praises XRP as the newest best in the world, there will be no significant real increase. In the short term, only large-scale market manipulation can raise the price.


Let us hope the best

 

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8 minutes ago, JASCoder said:

These are crazy times, Tulip Mania got nothing on our Time of Irrational Exuberance !!

(live right now on CMC):

 

CMC-18NOV2019-MMO-1200up.png

The amount of fraud in Crypto is staggering, I posted the below a few days ago:

Screenshot 2019-11-18 21.39.19.png

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9 hours ago, Elysium2030 said:

Even the utility story could prove useless and fatigue the investors. A year ago ODL moved 100k a day, today 200 million. The price, on the other hand, has fallen and disappears into no man's land. So what should people believe in now? That Ripple will fix it somehow? 


Without new money, without the mass media, which praises XRP as the newest best in the world, there will be no significant real increase. In the short term, only large-scale market manipulation can raise the price.


Let us hope the best

 

XRP is here to solve a multi trillion dollar. Still a long way to go if it ever hits that milestone. Outside of bitcoin, no alt coin has proven utility equals price appreciation or at least to what degree.

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Awesome. Lots of good answers here. Thanks everyone for the knowledge.

 

Is there a simple answer as to why the entire market rises and falls with Bitcoin? Is it really just because it's the standard coin and people see it's increase/decrease as a sign that their particular crypto of choice could be doing well/poor and react accordingly? That just seems so sheepish. I'd be lying if I said I regret not buying some bitcoin back when I considered buying it at pennies but now? **** that. I have zero interest. The appeal is totally gone and not just because of the price. I want to invest in something that will change the world. If I wanted to buy something that I thought was cool to store value I'd at least buy precious metals.

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1 hour ago, Lambosexual said:

Is there a simple answer as to why the entire market rises and falls with Bitcoin?

Yep.   All the bots treat BTC as the standard.  So when it falls the others are ready to be sold.

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  • 3 weeks later...
On 11/18/2019 at 8:52 PM, 10millionplus said:

At this moment it is the situation in Hong Kong holding back the rise of the total crypto markets.

Miners in China have difficulties to sell their bitcoin via Hong Kong and are forced to use other ways to sell at a lower price to pay for their electricity bills.

Until the shit is over in Hong Kong we will see a drop in price for the overall market.

The halving of Bitcoin in may 2020 will change that if the unrest is still happening in Hong Kong.

If you favor your money, don't support those terrorists in Hong Kong.

WHOLE -E MOLE -E  you sound like a fooking censored short sided dumby. "Miners in China have difficulties to sell their bitcoin via Hong Kong" "If you favor your money, don't support those terrorists in Hong Kong." You need Hong Kong's current separate much more efficient and logical system, the very thing they are fighting for, yet you speak to them in such a fascist context. Can't you see that the CCP is the issue if you can't do anything where you are now with out the help of the outside. Secondly the entire crypto market can do just fine with out any country, though every country matters to make this thing work. 

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Good morning.

I just joined this forum to discuss the question posed in this thread. I have my own opinion and maybe a confrontation could be useful for me too.

I have bought some XRP at 0,26€ price in October. I did it as medium to long term (5 to 10 years) investment just based on the fact that people follow the current and I thought this would lead the price up. I was too impulsive and did not collect enough information on the cryptocurrency world and XRP in particular..

Some days ago I have found the story of ESCROWs and just realised that ripple is releasing 1 bln xrp every month since Jan 2018. Last 1bln ESCROW will be released in Jan 2020 and then, starting form Feb 2020 it's the time for 500 mln ESCROWs until Feb 2024.

So it's not a surprise that XRP dropped from 3,2$ to present 0,22$ exactly when ripple began to release ESCROWs. Now price seems to go down but much less sharply (this is a good indication IMO, because supply through ESCROWs is continuing).

My point is that until ripple releases further XRPs through the ESCROWs, XRP will NOT go up, because any demand will be fed by new released money.

What will then happen depends on the real usage and if further ESCROWs will be released (in fact ripple states that unused XRPs will be put in new ESCROWs and re-released after the last foreseen ESCROW has been released). This means that this supply may go on until we are all retired...

This is my opinion and I will be very glad to read different ones just to increase my knowledge on the topic. Maybe I will realize that I am wrong and ESCROWs are not the main reason of this drop.

Kind regards.

Edited by JJJ2
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13 minutes ago, JJJ2 said:

Good morning.

I just joined this forum to discuss the question posed in this thread. I have my own opinion and maybe a confrontation could be useful for me too.

I have bought some XRP at 0,26€ price in October. I did it as medium to long term (5 to 10 years) investment just based on the fact that people follow the current and I thought this would lead the price up. I was too impulsive and did not collect enough information on the cryptocurrency world and XRP in particular..

Some days ago I have found the story of ESCROWs and just realised that ripple is releasing 1 bln xrp every month since Jan 2018. Last 1bln ESCROW will be released in Jan 2020 and then, starting form Feb 2020 it's the time for 500 mln ESCROWs until Feb 2024.

So it's not a surprise that XRP dropped from 3,2$ to present 0,22$ exactly when ripple began to release ESCROWs. Now price seems to go down but much less sharply (this is a good indication IMO, because supply through ESCROWs is continuing).

My point is that until ripple releases further XRPs through the ESCROWs, XRP will NOT go up, because any demand will be fed by new released money.

What will then happen depends on the real usage and if further ESCROWs will be released (in fact ripple states that unused XRPs will be put in new ESCROWs and re-released after the last foreseen ESCROW has been released). This means that this supply may go on until we are all retired...

This is my opinion and I will be very glad to read different ones just to increase my knowledge on the topic. Maybe I will realize that I am wrong and ESCROWs are not the main reason of this drop.

Kind regards.

The reason the price went down is not because of the escrow releases. The fact it went up unnaturaly to $ 3,50 is. Bubbles growing like that drop/correct. Ripple was selling XRP during the enormous growth in 2017. Bearmarkets come after bullmarkets and especially hard after parabolic growths. Look at the BTC charts for example. It always dropped around 85% after a boom since 2010.

Escrow release does put downward pressure on price however. The pressure is only a couple of percentages on daily volume, but it does exist. To say that that solely made the price drop is incorrect imo.

Bitcoin for example mines 1800 BTC per day and are released onto the markets to pay for electricity bills (equals 13,5mln dollars of pressure per day, =405mln per month). Ethereum (and other coins) all mine new coins into the market 24/7. Always done that.

If you look at the entire crypto market, every altcoin boomed in 2017 and dropped 90%+ after that.

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