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Pretrial, what I expect to happen on 22nd Feb


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The probability of any good, bad or indifferent news coming from the pretrial is low. Due to the crypto space being built on hype, as can be seen with the likes of doge and mars tokens increase after one tweet from Elon Musk, I believe that when no good news is received from the pretrial a lot of weak hands will fold and the price will dump potentially as low as 0.3-0.25c a coin.

Here's my reasoning for this belief, I have an account on eToro although I don't trade on it and if you read anyone on it they believe that the 22nd is going to settle the whole suit and XRP will moon and this isn't just one or two people it seems to be the vast majority on that service as well as reading some people on here trying to push the agenda.

Thus, I believe that when nothing happens after the trial and we get no news the price will crash. Due to this ive put a rather large portion of my coins on an exchange and plan to sell the morning of the 22nd when I wake up and either wait for a crash to buy back in strengthening my bag or just take the L and buy back in at a higher price.

What's your opinions on what will happen? I know it's all news dependent at this point but there's no risk in speculating. 

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I am thinking nothing in terms of the contents of the proceedings actually swinging things one way or the other.

From what I understand, these are just some preliminary procedures.

 

However, with that said, I would not be surprised if the market has some reaction with people guessing and/or second guessing each other's intentions/irrationalities/emotions/assumptions etc..  and acting out some of these guesses in a tangible way.

 

In short, your guess is as good as mine.

Edited by Decima
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On 2/20/2021 at 12:46 PM, SauronRings said:

The probability of any good, bad or indifferent news coming from the pretrial is low. Due to the crypto space being built on hype, as can be seen with the likes of doge and mars tokens increase after one tweet from Elon Musk, I believe that when no good news is received from the pretrial a lot of weak hands will fold and the price will dump potentially as low as 0.3-0.25c a coin.

Here's my reasoning for this belief, I have an account on eToro although I don't trade on it and if you read anyone on it they believe that the 22nd is going to settle the whole suit and XRP will moon and this isn't just one or two people it seems to be the vast majority on that service as well as reading some people on here trying to push the agenda.

Thus, I believe that when nothing happens after the trial and we get no news the price will crash. Due to this ive put a rather large portion of my coins on an exchange and plan to sell the morning of the 22nd when I wake up and either wait for a crash to buy back in strengthening my bag or just take the L and buy back in at a higher price.

What's your opinions on what will happen? I know it's all news dependent at this point but there's no risk in speculating. 

Took a while for it to happen but it hit my prediction of .3 euro for a solid 10 seconds before going bouncing up to .35

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4 hours ago, SauronRings said:

Took a while for it to happen but it hit my prediction of .3 euro for a solid 10 seconds before going bouncing up to .35

You're kidding, right? 22nd was yesterday.  XRP hit 64 cents earlier in the day on the 22nd (opposite direction to your prediction) before a market-wide crash happened and XRP finally relented and fell to low 50 cents later on the 22nd.  Today - because of a continued market-wide pullback where every token has crashed 25% or so - XRP briefly fell to high 30 cents (for about 5 mins) because of this crypto-wide crash.  You can believe you "predicted" this if you like.

Edited by 2ndtimearound
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1 hour ago, 2ndtimearound said:

You're kidding, right? 22nd was yesterday.  XRP hit 64 cents earlier in the day on the 22nd (opposite direction to your prediction) before a market-wide crash happened and XRP finally relented and fell to low 50 cents later on the 22nd.  Today - because of a continued market-wide pullback where every token has crashed 25% or so - XRP briefly fell to high 30 cents (for about 5 mins) because of this crypto-wide crash.  You can believe you "predicted" this if you like.

Man im not claiming I predicted the exact scenario nor am I trying to claim I'm the next Bearable Guy. I predicted the price hitting what it did and managed to snag roughly 20% increase to the amount of XRP I staked on the trade at the end of the day I don't care if my prediction was right or wrong I care about financial gain through trading and because of what I thought sold at 0.425c (euro) and bought in at 0.325c (euro) making me a decent profit no need to be so confrontational just happy for my gain sorry it made you feel the need to argue that I was wrong not right 🤷

Also maybe it fell to high 0.30's cent in USD but it hit 0.3c in Euro my local currency so the one I use when I talk about price. Also if you notice my original i said it hit my prediction of 0.3c never said it was because of my predicted reasons 

 

(Edited for clarity)

Edited by SauronRings
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5 hours ago, SauronRings said:

Yeah my reasoning was way off but hey I made money even if its not why I thought it would happen it still let me sell and buy for a nice little gain lol

That’s called a lucky coincidence. But good for you that it worked out. 

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6 hours ago, SauronRings said:

 

Man im not claiming I predicted the exact scenario nor am I trying to claim I'm the next Bearable Guy. I predicted the price hitting what it did and managed to snag roughly 20% increase to the amount of XRP I staked on the trade at the end of the day I don't care if my prediction was right or wrong I care about financial gain through trading and because of what I thought sold at 0.425c (euro) and bought in at 0.325c (euro) making me a decent profit no need to be so confrontational just happy for my gain sorry it made you feel the need to argue that I was wrong not right 🤷

Also maybe it fell to high 0.30's cent in USD but it hit 0.3c in Euro my local currency so the one I use when I talk about price. Also if you notice my original i said it hit my prediction of 0.3c never said it was because of my predicted reasons 

 

(Edited for clarity)

Funny isn't it? You successfully predict what the market will do (the reasons don't matter, other people have no more idea why it moved than you do) and people are very quick to say it was just lucky or you shouldn't take credit or whatever. 

For me the fact you predicted the price level (not just up or down) and managed to execute trades at those levels is impressive, and you deserve the gains you got. 

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On 2/20/2021 at 7:46 PM, SauronRings said:

I believe that when no good news is received from the pretrial a lot of weak hands will fold and the price will dump potentially as low as 0.3-0.25c a coin.

That was your original prediction - then you said you were "right".   Put a buy limit low down....I have a few laddered on quite a few cryptos....no idea if they will trigger, but if they do, all good.

2 hours ago, lucid99 said:

That’s called a lucky coincidence. But good for you that it worked out. 

Exactly...attributing coincidence to a false cause and effect is all I'm pointing out here :)

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