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QWE

Delusions and madness of the crowd

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28 minutes ago, FarangKiNok said:

At sub $ .10 cents XRP is an insane deal. Not often do we come across such once in a lifetime opportunities. We are truly blessed.

NO.

It can fall to 0,01 or to 0,001 or to 0,0001 or to 0,00001 etc.

If there is no reason to buy it nobody buys it, unless some sort of hysteric madness spreads through the crowd as in 2017.

so we need some sort of announcement from ripple that can catch imagination of potential investors or we need a true reason for buyng xrp, for instance that governaments progress with regulations concerning cryptocurrency (I imagine).

In any case, having the possibility to loose some money, Iwould buy at 0,1 and then at 0,01 and again at 0,001 hoping that in some future price goes back where it was in 2017.

(of course this is only my opinion and it's worth 0 cents)

Edited by JJJ2

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15 minutes ago, JJJ2 said:

NO.

It can fall to 0,01 or to 0,001 or to 0,0001 or to 0,00001 etc.

If there is no reason to buy it nobody buys it, unless some sort of hysteric madness spreads through the crowd as in 2017.

so we need some sort of announcement from ripple that can catch imagination of potential investors or we need a true reason for buyng xrp, for instance that governaments progress with regulations concerning cryptocurrency (I imagine).

In any case, having the possibility to loose some money, Iwould buy at 0,1 and then at 0,01 and again at 0,001 hoping that in some future price goes back where it was in 2017.

(of course this is only my opinion and it's worth 0 cents)

If it worths 0.001 1m$ will buy you 1b xrp. No way it goes there even if ripple fails

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23 minutes ago, JJJ2 said:

NO.

It can fall to 0,01 or to 0,001 or to 0,0001 or to 0,00001 etc.

If there is no reason to buy it nobody buys it, unless some sort of hysteric madness spreads through the crowd as in 2017.

so we need some sort of announcment from ripple that can catch imagination of potential investors or we need a true reason for buyng xrp, for instance that they progress with regulations concerning cryptocurrency.

In anycase, having the possibility to loose some money, Iwould buy at 0,1 and then at 0,01 and again at 0,001 hoping that in some future price goes back where it was in 2017.

 

You see, this is the exact reason I created this topic. No, you do not need any announcements, nor will they help with the price at this point in time.

 

This is a speculative, immature market, fundamentals are mostly irrelevant, and the whole market moves in unison. Every single top 100 coin moved up by factor of 10x and more in 2017 and it needed no announcement and fundamental change at all. DOGE is a perfect example of that.

 

I would like to say otherwise, but I can’t. It will become better once the market matures, but we are years from that. I personally believe there will be one or more speculative bubbles before that happens.

 

People were buying XRP at 0.006 USD when no one knew about crypto, and XRP was just a fast-moving coin that had nothing built around it (and considered even more as a scam by the crypto community than it is today). I doubt your order at 0.001 USD would ever come close to being triggered.

 

The fact that we are even debating about 0.10, 0.001 and 0.0001 USD goes to show we are at the opposite end of what happened in 2017, when people were calling for XRP at hundreds and even thousands of USD per XRP.

 

0.01 USD/XRP is just as absurd as 589 USD/XRP and I hope my original post explains why this is the case. There is simply not enough XRP out there on sale at 0.01 USD/XRP, just as there is not enough USD to support 589 USD/XRP at the moment.

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True, we need some positive news that changes the sentiment and also short term chances of higher adoption by various parties.

This will lure retail investors back in. it is all speculation at the moment, but hope has taken away from us...  well, from many. I however keep buying - poor me! 

 

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1 hour ago, QWE said:

You see, this is the exact reason I created this topic. No, you do not need any announcements, nor will they help with the price at this point in time.

 

This is a speculative, immature market, fundamentals are mostly irrelevant, and the whole market moves in unison. Every single top 100 coin moved up by factor of 10x and more in 2017 and it needed no announcement and fundamental change at all. DOGE is a perfect example of that.

 

 

yes agreed! That's what I've just written.

1 hour ago, QWE said:

0.01 USD/XRP is just as absurd as 589 USD/XRP and I hope my original post explains why this is the case. There is simply not enough XRP out there on sale at 0.01 USD/XRP, just as there is not enough USD to support 589 USD/XRP at the moment.

ok this is a sound reason why it should not go further down. I see that  point. But I am not able to link some information together in order to make my mind:

1) I do not know how many xrp are actually needed by the market.

2) Linked to 1 is the point that if XRP were really needed then each released ESCROW would be swallowed by banks. Instead as MoneyGram stated they sell XRP as soon as the can andmost of each ESCROW is not absorbed by the market but rscheduled for later release. So by now it seems that there's more than enough in the market.

On the contrary next ESCROWs will release just 500mln instead of 1bln each. so this mght also change something.

Don't think I am just spreading negative ideas for any purpose: I want and need to make my mind: I mean: 30 min ago I still did not know what Money Gram is...

By now I am collecting information and slowly learning the crypto world. So maybe I will even repost after some times some ideas we've already discussed...

 

 

Edited by JJJ2

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1 hour ago, QWE said:

 

1) Nobody knows how much XRP is needed on the market. This is basically a true statement for any asset out there

 

2) No. The whole on demand liquidity narrative is to purchase XRP to transfer value across border and sell it on the other side. It’s literally in the name -> on demand; when needed. Banks don’t hold XRP, neither does MGI. They use it.

 

Market makers (MMs) are the ones holding XRP. They do so in hope of making money off the spreads on exchanges and arbitrage opportunities, by setting buy and sell orders on the market (that is where the XRP is “tied” or “held”). The more liquid an asset is, the more promising it looks to an MM (because the buys and sells are more frequent), but this also attracts other MMs, which in turn produces smaller spreads, as different MMs compete with each other. For example, an USD/EUR pair will have significantly smaller spreads compared to VEF/ZWD (Venezuela/Zimbabwe – if you can even trade this pair).

 

Here’s how utility may move the price in the long term when the market matures

.............. 

WOW you totally nailed it with every post in this thread 👌

Thanks for putting some time into this 😉 

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