The Ripple Thread

makeorbrake

Bob24 wrote: »

Talk is cheap and an executive showing optimism about their company’s product or surprising and in no way a commitment.

I'm open to correction but my understanding is that it's been well tested and it works. He just stated that xRapid would probably be launched generally within the next month.

What I don't get is how just that snippet of info is responsible for a 40% increase in 48 hours. The benefits of xRapid were already known and there was a general indication of timeline. Surely this would have been priced in already.

Bob24

makeorbrake wrote: »

I'm open to correction but my understanding is that it's been well tested and it works. He just stated that xRapid would probably be launched generally within the next month.

What I don't get is how just that snippet of info is responsible for a 40% increase in 48 hours. The benefits of xRapid were already known and there was a general indication of timeline. Surely this would have been priced in already.

Yes absolutely it’s been proven to work through a few trials. However it is currently not used in production by anyone. As far as I understand what he’s announced is that he expects this will be the case within a month. Practical adoption by a financial institution has never been guaranteed and would be a huge deal in terms of provinng there is an actual use case for XRP so I can see how people get excited about it. But has you said the potential of the token is known already and should be priced in. So people buying now are betting on the fact the he is indeed right and actual adoption is about to materialise. That actual adoption as opposed to just having a potential would means much higher prices, but I think some people might be jumping gun a bit and assume an informal comment from one exec means it’s definitely happening.

Bob24

And also I might be wrong but my understanding is that the main blockers for adoption are not technical, but rather regulatory (institutions are scared about the status of XRP in terms of being considered a security or not) and financial (I think some of them said cost saving was currently not significant enough).

Bob24

And XRP is now up 43% in the past 24 hours ...

Another 25% (which at this rate seems possible) and it would take over ether in terms of total market cap and take the second spot after bitcoin.
Of course it could also fall of a cliff and go back to where it came from, but interesting developments either way!

grindle

The idea of news being priced-in makes much more sense for dividend earning stocks, not so much for an asset which still isn't being utilised beyond pilot-tests which many people got to buy under $0.01 ~18 months ago.

Same old crypto story - thin order books means positive buy pressure doesn't have to be very high at all to make the price skyrocket and cause FOMO over the course of a week. Looking at the inital 10% bump on September 18th and adjusting USD volume to take the price increase into account it looks like the cap had a billion added to it with a little over $50m of positive buying. Less than two-fold increase in price so far yet four-fold increase in volume since then, it looks like they've done a fine job of getting people to jump onto the gravy train and volume's still growing.

If this is anything like last year you'll see BTC and/or ETH whales use their newfound gains to push XRP profits into those respective coins, maybe pump their favourite shítcoins for very little cost. There are many coins that could be 100x-ed within a day if 1% of XRP's volume flicked their way so getting alts to have a random 10-50% + is extremely inexpensive now for anybody profiting from XRP's rise.

Tinder Surprise

grindle wrote: »

The idea of news being priced-in makes much more sense for dividend earning stocks, not so much for an asset which still isn't being utilised beyond pilot-tests which many people got to buy under $0.01 ~18 months ago.

Same old crypto story - thin order books means positive buy pressure doesn't have to be very high at all to make the price skyrocket and cause FOMO over the course of a week. Looking at the inital 10% bump on September 18th and adjusting USD volume to take the price increase into account it looks like the cap had a billion added to it with a little over $50m of positive buying. Less than two-fold increase in price so far yet four-fold increase in volume since then, it looks like they've done a fine job of getting people to jump onto the gravy train and volume's still growing.

If this is anything like last year you'll see BTC and/or ETH whales use their newfound gains to push XRP profits into those respective coins, maybe pump their favourite shítcoins for very little cost. There are many coins that could be 100x-ed within a day if 1% of XRP's volume flicked their way so getting alts to have a random 10-50% + is extremely inexpensive now for anybody profiting from XRP's rise.

I must say Grindle I find your input and analysis spot on and very rarely disagree with any of your posts.

Are you in crypto fulltime*?

*you can tell me to mind my own fooking business if you want

grindle

Tinder Surprise wrote: »

Are you in crypto fulltime*?

Truckermal

I hope some of you purchased last week when it was down!

ZeroThreat

grindle wrote: »

hope you give the keybaord a good 'aul cleaning after 3pm

grindle

ZeroThreat wrote: »

hope you give the keybaord a good 'aul cleaning after 3pm

:pac:

Clean? It gives the RGB a lovely cloudy effect, acts as a soundproof for my MX Blue keys & helps to insulate from any scotch dribbles/spills.

It's the wondergloop of the future that they don't want you to know about.

In talks with JML to get my product in-store by EOY.

Pussyhands

I would expect around 10% drop on most coins tomorrow based on previous happenings.

Stokolan

Truckermal wrote: »

I hope some of you purchased last week when it was down!

I swapped about 60% of my stellar for Ripple at the first jump when it hit .27c.

I think I made a good choice... for the moment anyway

Truckermal

Stokolan wrote: »

I swapped about 60% of my stellar for Ripple at the first jump when it hit .27c.

I think I made a good choice... for the moment anyway

I stuck 4K in this morning and I'm up 400 euro now so not a bad morning.

grindle

Stokolan wrote: »

I think I made a good choice... for the moment anyway

Be careful and set a stop loss! It's reaching volumes it hasn't seen in 5 months and @ 60% of it's ATH vs BTC.

Bob24

grindle wrote: »

Be careful and set a stop loss! It's reaching volumes it hasn't seen in 5 months and @ 60% of it's ATH vs BTC.

Yep - this 90 days chart shows how severe the move is! (both value and volume)

Truckermal

grindle wrote: »

Be careful and set a stop loss! It's reaching volumes it hasn't seen in 5 months and @ 60% of it's ATH vs BTC.

What price should one sell?

makeorbrake

Truckermal wrote: »

What price should one sell?

It's always a subjective thing but you went in late and still did well. I'd take profit - but it's not my decision. ;-)

Pussyhands

Overall number 2 now.

makeorbrake

Pussyhands wrote: »

Overall number 2 now.

Huh? You advising us of your 'movements'?:D

BrokenArrows

makeorbrake wrote: »

Huh? You advising us of your 'movements'?:D

He means it has overtaken ETH by market capital and is now the 2nd largest crypto after BTC

makeorbrake

BrokenArrows wrote: »

He means it has overtaken ETH by market capital and is now the 2nd largest crypto after BTC

Ah - my bad - it's early morning here!

A 53% increase in 3 days - that's bonkers stuff. It certainly appears like they have something but the timing and level of increase is irrational.

@grindle : I know you say that 'pricing in' isn't suitable for crypto but surely if people act on info available to them, they act on it when they receive it? The bulk of whats good about Ripple lately was known for some time...

lanciadub

back to 3 now .... booooo

Bob24

Wondering if this is going to last a be short lived as it was last time XRP took over ETH.

(And on a side note, it also means bitcoin dominance is dropping)

lanciadub

Bob24 wrote: »

Wondering if this is going to last a be short lived as it was last time XRP took over ETH.

(And on a side note, it also means bitcoin dominance is dropping)

its neck and neck

Bob24

lanciadub wrote: »

its neck and neck

Probably won’t be for long. Either XRP maintains its upwards trajectory for another while and clearly takes over, or there is a strong correction and it goes back clearly lower than ETH. But with that volatility they are unlikely to remain neck and neck for too long.

Bob24

Mr.S wrote: »

I do enjoy all the reddit and twitter folk predicting $3-4 by next week

Let’s put it that way: if Ripple announces that a bank is using xRapid in production by next week, they might well be right.

But I definitly wouldn’t bet my life on it happening!

makeorbrake

Bob24 wrote: »

Let’s put it that way: if Ripple announces that a bank is using xRapid in production by next week, they might well be right.

Well, if they have banks already signed up and using xCurrent, surely it's logical that they would use xRapid (unless there's some regulatory issue that's not being talked about)? By all accounts, it's use will have to be limited to certain 'corridors' first - due to liquidity of XRP. I guess the other thing is that the banks may use their own version - there are a couple of banks that have backed projects based on Ripple...may be more palatable to them if it comes from within their own circles.

Bob24

makeorbrake wrote: »

Well, if they have banks already signed up and using xCurrent, surely it's logical that they would use xRapid (unless there's some regulatory issue that's not being talked about)? By all accounts, it's use will have to be limited to certain 'corridors' first - due to liquidity of XRP.

Regulation is the key issue I’d say. It’s probably seen as a huge risk for a financial institution to start using XRP as a money conduit with no clarity on its legal status.

This is why I would be surprised to see a bank using it before there is a clear ruling on whether it is a security. But I might be wrong ...

makeorbrake

Bob24 wrote: »

Regulation is the key issue I’d say. It’s probably seen as a huge risk for a financial institution to start using XRP as a money conduit with no clarity on its legal status.

This is why I would be surprised to see a bank using it before there is a clear ruling on whether it is a security. But I might be wrong ...

I guess that's a fair point as XRP is the difference between xCurrent and xRapid.

ZeroThreat

Mr.S wrote: »

I do enjoy all the reddit and twitter folk predicting $3-4 by next week

Nah, you're waaaay off there. According to some cryptic post by a mysterious poster on reddit, $589 is the crypto conspiracy theorist's figure it will reach this year.