Staying the course in remittances and SME payments.

[Parabellum 444]

 https://ripple.com/insights/staying-the-course-in-remittances-and-sme-payments/

[fernandoobregon 26]

interesting that they mention western union and not just moneygram.

[Drew 384]

Anyone have a clue as to who the target audience is for this information - seems a bit odd.

[GoldenGoose 502]

2 hours ago, Drew said:

Anyone have a clue as to who the target audience is for this information - seems a bit odd.

The final paragraph seems to spell it out more specifically.

[kanaas 3,919]

 https://ripple.com/insights/staying-the-course-in-remittances-and-sme-payments/

Seems like the big real world test has failed and some large MM pauzed... Already to see in ODL volumes. Guess that it was to early and not yet cost effective to support by MM on a larger scale.

[Dario_o 1,740]

55 minutes ago, kanaas said:

Seems like the big real world test has failed and some large MM pauzed... Already to see in ODL volumes. Guess that it was to early and not yet cost effective to support by MM on a larger scale.

jumping to conclusions

[jbjnr 2,022]

57 minutes ago, kanaas said:

Seems like the big real world test has failed and some large MM pauzed... Already to see in ODL volumes. Guess that it was to early and not yet cost effective to support by MM on a larger scale.

It's very worrying. If ODL isn't cheaper than conventional moneymarkets, then it won't get used. Dropping from 15m a day to 2m was  a massive change yesterday and after reading that report last night I immediately sold a chunk of my xrp. I will wait to see if volume comes back before dipping my toes back in. That report raised a huge red flag for me and it's the first time in almost 3 years that I've strongly doubted the xrp experiment.

My greatest worry has been that institutions using ripplenet get instant settlement which allows them to change the way they rebalance their accounts and so even using 'old fashioned' nostro/vostro over ripplenet is saving costs to such an extent that the original estimates of what ODL would save on top of that just have not taken place. The fact that they have had to pay MGI such large amounts to use ODL (build liquidity) was disturbing, and now dropping large payments altogether gives me reason to pull back and wait. The departure of Miguel Vias troubled me too, as he was responsible for building liquidity. Those large payments made up the majority of transactions, if they were saving MGI  money, they wouldn't stop it overnight (perhaps it was just costing ripple far more than mgi was saving and they've had to renogotiate terms on that deal) - either way, I will wait and watch to see if ODL volume returns.

I'm still curious to know how the western union interest plays out. (Apologies for this somewhat downbeat post. I'm usually quite positive about xrp, but not today).

 

[XRP-Observer 77]

6 hours ago, Drew said:

Anyone have a clue as to who the target audience is for this information - seems a bit odd.

I think it is at least partially for the XRP community, because this week we can see the Liquidity Index Bot showing decreasing XRP liquidity, on Bitstamp I also see Monday's volume being the lowest since February etc. I see it as a message for us, they said: "You will see lower volumes, don't panick, we are still working on our goals". Now, whether it will be enough to calm down everybody...

[Julian_Williams 12,910]

Quote

This may reduce overall ODL transaction volumes.

like it dropped to 15% of what it was?  is this the new norm? Red Flag -  they may be doing the right thing but we need more clarification.  This statement is mealy mouthed.  I noticed last night there had been a larger Thai/PH vol - maybe a new corridor?

Edited June 9, 2020 by Julian_Williams

[Elysium2030 653]

17 minutes ago, jbjnr said:

It's very worrying. If ODL isn't cheaper than conventional moneymarkets, then it won't get used. Dropping from 15m a day to 2m was  a massive change yesterday and after reading that report last night I immediately sold a chunk of my xrp. I will wait to see if volume comes back before dipping my toes back in. That report raised a huge red flag for me and it's the first time in almost 3 years that I've strongly doubted the xrp experiment.

My greatest worry has been that institutions using ripplenet get instant settlement which allows them to change the way they rebalance their accounts and so even using 'old fashioned' nostro/vostro over ripplenet is saving costs to such an extent that the original estimates of what ODL would save on top of that just have not taken place. The fact that they have had to pay MGI such large amounts to use ODL (build liquidity) was disturbing, and now dropping large payments altogether gives me reason to pull back and wait. The departure of Miguel Vias troubled me too, as he was responsible for building liquidity. Those large payments made up the majority of transactions, if they were saving MGI  money, they wouldn't stop it overnight (perhaps it was just costing ripple far more than mgi was saving and they've had to renogotiate terms on that deal) - either way, I will wait and watch to see if ODL volume returns.

I'm still curious to know how the western union interest plays out. (Apologies for this somewhat downbeat post. I'm usually quite positive about xrp, but not today).

 

This.

Absolutely disappointing news.

You shouldn't be blinded by the marketing blabber, Ripple and XRP have been looking for their usecase for the last few years and it seems to be nowhere to find one.
First Xrapid, then the rebranding to ODL, then new customer groups, Miguel Vias has left the company. Then the fact that the number of customers stagnates on a low level (200..now 350 2 years later. This is not the growth of a company marching ahead).

The price of XRP since the bubble beyond good and bad, plus numerous promises that were not kept and finally Brad's embarrassing XRP > Bitcoin 2020 tweets and the clear lack of commitment to XRP when talking to Chatterley(?)

I am really served by these chatterers. 
It doesn't bother me that everything takes a bit longer, it bothers me that they constantly fail to deliver.

They spit in the face of all the people who bought XRP. 
Next rigged bull run I'm out with 90% of my XRP.

**** You Ripple.
Seriously

 

[cannylad 229]

could the current drop be to people having been furloughed lost job's, people who who did jobs sor arguments sake hand carwash, not making the money they did so unable to send back home, just the thoughts of the village idiot

[Dogowner5 2,585]

1 minute ago, cannylad said:

could the current drop be to people having been furloughed lost job's, people who who did jobs sor arguments sake hand carwash, not making the money they did so unable to send back home, just the thoughts of the village idiot

It’s a likely thought,  but this was a precipitous sudden drop and coincides with the loss of the Treasury fund transfers that Moneygram were doing.

[MrX 81]

4 minutes ago, Elysium2030 said:

I am really served by these chatterers. 
It doesn't bother me that everything takes a bit longer, it bothers me that they constantly fail to deliver.

They spit in the face of all the people who bought XRP. 
Next rigged bull run I'm out with 90% of my XRP.

**** You Ripple.
Seriously

But there is no guarantee that XRP will be still afloat by the time of the next bull run if it will ever happen

[XRP-Observer 77]

On the other hand, these bigger volumes we were witnessing seemingly did nothing for the price of XRP. So, if they change their approach and do something that will positively impact the price, I'm all in. If...

But I'm not gonna lie, this the first time in years that I am somewhat down because of news coming from Ripple.

Edited June 9, 2020 by XRP-Observer

[Elysium2030 653]

9 minutes ago, MrX said:

But there is no guarantee that XRP will be still afloat by the time of the next bull run if it will ever happen

Of course not.
But I hope that XRP will reach the 0.40-50 cent again. Then I will be out with a big profit and that will be ok