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Q2 2020 XRP markets report


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This report looks good, but yet again 0 info on actual numbers. So, they are buying back xrp. How much did they buy? $1,000 or $10,000,000? It is so vague.  This repost is like a bikini. It

https://ripple.com/insights/q2-2020-xrp-markets-report/  

Ripple dump XRP in the market all the time. They are here to sell only RippleNet software and we are chumps paying for it.     Oh wait... They're buying back XRP from the secondary mark

12 hours ago, ADingoAteMyXRP said:

ODL accounting for 20% of RippleNet volume in Q2! That’s wild. This was before we dropped down to $4M per day.

So guessing an average of $15M per day in Q2 puts daily RippleNet volume around $75M... that’s if the ODL tracker is even catching everything (which as we know it wasn’t for a long time. EUR>USD corridor wasn’t in there until long after it launched).

Wow so the overal volume over RippleNet was that low? :s

So they have 20% of RippleNet volume being ODL and they switch it off? "hey guys we've got this great product going here, already being 20% of our total volume. Let's switch it off" Board: "sounds like a plan".

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10 hours ago, enrique11 said:

lol...it is, thanks to "BTC breaking prices not seen in a long time" and "XRP lawsuit has been thrown out rumor", but how much of it is due to those two factors vs non-speculative factor(s) dealing with actual XRP utility?

Still all speculation about IMF, replacing USD as reserve currency, replacing swift. it's probably not even a blip on the radar. There's just another crypto hype cycle coming up. So I might go in. Could ramp up very quickly. Then a major fallback again since there's no real floor here.

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19 minutes ago, SquaryBone said:

Wow so the overal volume over RippleNet was that low? :s

So they have 20% of RippleNet volume being ODL and they switch it off? "hey guys we've got this great product going here, already being 20% of our total volume. Let's switch it off" Board: "sounds like a plan".

What I want to know is - What is holding back the Thailand and other ODL nodes from starting?  they have been priming and promising some of them since Christmas yet they just do not seem to be able to get them running.

I think XRP price is now primed to go up a step, maybe after being held back artificially it will be  faster than other horses in the race, but it is not running with good wide strides  or smoothly yet. 

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23 minutes ago, Julian_Williams said:

What I want to know is - What is holding back the Thailand and other ODL nodes from starting?  they have been priming and promising some of them since Christmas yet they just do not seem to be able to get them running.

 

Well I'd also like to know some actual numbers on the buybacks. And why those existing corridors, which were selected because they are inefficient and still reasonable volume, don't seem to take off. Because that was the strategy: pick inefficient reasonable sized corridors and start there since the benefits are most easy to accomplish.

And OTC sales went back up as well to $32.55 million. That's good in a way. But that's 120 million XRP entering the market again. Programmatic sales might be paused but OTC sales might have compensated for that. That's an 1860% percent increase.

Do I understand correctly that by buying back they're basically stabilising the market price? (aka market manipulation) They sell OTC and do buybacks at market price...

Total sales as % of total volume0.006%*0.18%*

From the article:

Quote

Ripple is reducing its emphasis on large treasury payments—which are traditionally used to fund businesses and services in the absence of real-time transfers—to support individual, low-value transactions, addressing the growing need in remittances and small- and medium-sized enterprise payments. 

So basically they're abandoning the treasury payments, which I'd think is way larger than the remittance use-case. To me this doesn't sound like good news. Why would you do that unless it's not competitive? All bits help but they seems to just have given up on this part. Although medium-sized enterprise payments still sounds good (depending on what they mean with that).

I only skimmed the article. I might have overlooked stuff.

Edited by SquaryBone
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46 minutes ago, SquaryBone said:

Well I'd also like to know some actual numbers on the buybacks. And why those existing corridors, which were selected because they are inefficient and still reasonable volume, don't seem to take off. Because that was the strategy: pick inefficient reasonable sized corridors and start there since the benefits are most easy to accomplish.

And OTC sales went back up as well to $32.55 million. That's good in a way. But that's 120 million XRP entering the market again. Programmatic sales might be paused but OTC sales might have compensated for that. That's an 1860% percent increase.

Do I understand correctly that by buying back they're basically stabilising the market price? (aka market manipulation) They sell OTC and do buybacks at market price...

Total sales as % of total volume0.006%*0.18%*

From the article:

So basically they're abandoning the treasury payments, which I'd think is way larger than the remittance use-case. To me this doesn't sound like good news. Why would you do that unless it's not competitive? All bits help but they seems to just have given up on this part. Although medium-sized enterprise payments still sounds good (depending on what they mean with that).

I only skimmed the article. I might have overlooked stuff.

I think SME payments are different from remittance and are a really huge segment running into many trillions (maybe the biggest market).  An SME is any company between 10 and 500 or 1000 employees (dependent on country).  Many of these companies are global in their reach and transfer millions a month across borders.  They are not served well by banks, but with ODL they will not need banks, they will be able to transfer B2B.

They scaled back on Treasury payments, they have not abandoned the task of serving banks.  I think they made a strategic decision based on observation of the market conditions and resources to concentrate on SMEs.  I did hear treasury payments were balances crossing borders rather than bone fide payments, but I may be wrong.

Edited by Julian_Williams
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1 hour ago, Julian_Williams said:

What I want to know is - What is holding back the Thailand and other ODL nodes from starting?  they have been priming and promising some of them since Christmas yet they just do not seem to be able to get them running.

I think XRP price is now primed to go up a step, maybe after being held back artificially it will be  faster than other horses in the race, but it is not running with good wide strides  or smoothly yet. 

No green light yet by the Thai regulators.

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3 hours ago, SquaryBone said:

Do I understand correctly that by buying back they're basically stabilising the market price? (aka market manipulation) They sell OTC and do buybacks at market price...

The buying XRP was just a disclosure in the market report. They haven't given any additional detail as to why they are doing it; some of us were just hypothesizing regarding the reason until they provide more details.

Given that they need to provide large ammounts of XRP via OTC sales to help develop Ripplenet and ODL, I think the buyback could be a way for them to limit the use of escrowed XRP. They can buy XRP off of the market and then redirect it to where and who needs it perhaps. But again, they just disclosed that they were buying XRP, not what they were doing with it.

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schwartz just pm-ed me and said the xrp buyback is ripple helping retail investor to de-risk, lower supply out there means lesser chance retail can buy xrp, which will lead to less hands get burned and ultimately prevented another future court case saying ripple is selling unregulated security, 

PS: schwartz is secretly buying Monero after looking at Moreno's profile name.

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8 hours ago, SquaryBone said:

Still all speculation about IMF, replacing USD as reserve currency, replacing swift. it's probably not even a blip on the radar. There's just another crypto hype cycle coming up. So I might go in. Could ramp up very quickly. Then a major fallback again since there's no real floor here.

XRP could eventually become the world's first digital reserve currency for some countries in which you have runaway hyperinflation, but I doubt the leading countries economically are ready to put their trust in cryptos, something over which they have no control, unlike fiat, to manipulate for whatever reasons unless they made a collective effort. XRP is deflationary, so countries would want to hold onto it like gold, but I think it would be a long time before countries are ready to put their trust in public crypto, something that's harder for them to control. I'm guessing any country would want it's fiat to dominate globally whether it paper money or cryptographic money, it would be a reflection of the country's government's underlying stability and trustworthy economy backing it up. 

Yeah, maybe another crypto hype cycle, except I think people will be smarter this time, hopefully less volatility, also contributing to less volatility is that some cryptos are just starting to come into their own with some real basic utility and some people are starting to get a sense of separation of cryptos with utility and those with hype, and the 4-year BTC cycle has a significant logarithmic-like growth, so the 4-year BTC peaks should go lower and lower until BTC price becomes more stable long-term as long as it is not passed by some other crypto, in which case, people will see BTC for the relic that it is. Don't get me wrong, BTC has first mover advantage and more developers than any other crypto, so it's understandable that it has been in first place so long, but if it loses the top position to some other crypto, BTC will not make it back to the top again, regardless how many developers you pour into it - a model T ford can only be improved so far until new technologies make it obsolete. Yes, BTC is software, but it's foundation is built on old tech - we know so much more now in terms of how to build a more efficient crypto protocol with a specific purpose, not one that can only act as a digitally scarce store of value, like a digital version of Gold, except better because we know how many BTC there will ever be, but we still don't know how much gold is left out there in nature.

Let's hope so! I'm ready to cash out after so many years. :)

Edited by enrique11
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Everyone is speculating as to why the USD will be "replaced". The IMF holds about 60% of it's reserves in USD if I rember correctly. Abuot 20% is Euro. The USD isn't "the" reserve currency, it is just the most major one.

Therefore, the question should be, "Will the USD in the near future no longer be the most major reserve currency?" Not a chance.

The only current alternative to the USD would be the Euro and there is too much uncertainty in Europe, at the moment. The Eurozone is also still extremely young compared to the USA.

The huge advantage that the USD has is that the GDP of the USA is the largest in the world joined with the fact that the USA is one single entity that cannot separate. The Eurozone GDP is large as well but there is no guarantee that the countries, 10 years from now, won't decide to leave the European Union.

(Financially, Argentina and most countries in South America are a dumpster fire so no need to worry about anything there being used for anything when it comes to currency.)

Edited by AlejoMoreno
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