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bluestormz

Why is Ripple down?

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Ripple is down 7%, but I don't really understand why it is...it's unfortunate that BTC has so much influence over trading other coins. I hope for the day when Ripple can go up against a sell off on the BTC side and become less influenced by this China news...

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5 minutes ago, bluestormz said:

You'd think that news would lift ripple up? Especially meeting with the Chinese government.

these aren't rational markets, funny money everywhere but...

generally bitcoin is used to buy up other alts or move between them or as a temp "haven"

so when people sell btc, there's no btc to buy alts inc. ripple

thus when there's a shock to btc, it's no longer a haven and people flock back to fiat, and wait for selling to stop or new buying

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I agree, that's one of the things that I hate...that BTC is used the most to exchange for the alt coins. At least people can buy ETH and LTC now...it'd be nice if Ripple became a haven.

Edited by bluestormz

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Once Ripple announces live production business endeavors I think you'll start to see the disassociation of XRP from other cryptos. Right now XRP is still being viewed as an equal to BTC - fulfilling the same role as a store of value without any real world use. Once live production commences for payment and settlement providers, the role of XRP will be more apparent, and will begin to move away from being co-dependent on other crypto ....

At least that is my opinion ...

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3 minutes ago, Blankpage said:

Yes, but  I like to note that in the last days xrp has lost less than the other cryptos:)

A bit less than others in the top, yes. Also Ripple is about to go past Bitcoin Cash at the 3rd spot (about time...)

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1 hour ago, bluestormz said:

You'd think that news would lift ripple up? Especially meeting with the Chinese government.

We all just need to wait for the ripple October  meeting!  ?

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20 minutes ago, Sebastian said:

I hope this crash wipes out a lot of the other currencies and tokens.  :clapping:

IMO, many of them are nothing more than borderline ponzi schemes or outright frauds. 

I agree im not sure how many crashes have affected the market throughout history but this is sure to make people think twice before investing in a copy cat or w.e i hope this isnt permanent but i also hope it drops another .6 so i can buy in alot more. Got in at .23

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Anyone else find it odd that chinas ban followed ripple meeting? Maybe theyre speeding up the process of getting xrp to the top? It would benefit banks to provide liquidity asap unless they coukd just purchase among themselves and increase. 

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26 minutes ago, mvenneau said:

I agree im not sure how many crashes have affected the market throughout history but this is sure to make people think twice before investing in a copy cat or w.e i hope this isnt permanent but i also hope it drops another .6 so i can buy in alot more. Got in at .23

There's been crashes a lot in the past and a huge number of alt coins that have flopped. People still buy them. Many crypto "investors" know absolutely nothing about investing and so the markets are not logical at all. The vast majority of people buy high and sell low because of FOMO, or buy random alt coins on ICO or when they hit the markets because they see the prices going up, then end up ****** when the people who set it up sell at the top and they're still holding on to nothing.

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