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Some Ripple insights - Printable Version

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RE: Some Ripple insights - Hugues - 2019-07-30

Ripple Directly Addresses US Congress in Full-Page Wall Street Journal Ad

This is the add:

“Dear Congress, Please do not paint us with a broad brush.

Many in the blockchain and digital currency industry are responsible actors. We are responsible to U.S. and international law. We are responsible to serving the greater good.

We don’t take for granted the vital role of central banks in issuing currencies and settling monetary policy in concert with the complex dynamics of economies around the world. For centuries, governments have been well suited for the job because paramount to the acceptance of any currency is trust.

Companies like ours in the United States, and others abroad, employ these innovations in partnership with regulated financial institutions to enable the world to move money across borders like it already moves information – efficiently, reliably, inexpensively. In our view, digital currencies have the opportunity to complement existing currencies like the U.S. dollar – not replace them.

Without a doubt, blockchain and digital currencies will engender greater financial inclusion and economic growth not unlike the internet’s historic impact. As it did with the internet, the U.S. has the chance to lead the way, nurturing this economic opportunity while continuing to protect privacy and stability.

We urge you to support regulation that does not disadvantage U.S. companies using these technologies to innovate responsibly, and classifies digital currencies in a way that recognizes their fundamental differences – not paining them with a broad brush.

Without regulatory clarity, we risk pushing the innovation, tax revenue and jobs that these new technologies create overseas.

You have the world’s attention. Let’s come together and seize the moment.”


RE: Some Ripple insights - Carsten - 2019-07-30

Good statement from Ripple


RE: Some Ripple insights - Carsten - 2019-07-31

Take a look at this one as well. https://www.forbes.com/sites/billybambrough/2019/07/30/new-data-reveals-serious-bitcoin-warning/#58f6db907cd7


RE: Some Ripple insights - Carsten - 2019-08-16

Not only good news about Ripple sadly...here are some bad news:

"XRP Could Fall 20%, Says Trader Accusing Ripple of Manipulating Market.

Brandt: Ripple manipulated XRP for years
In a series of tweets Aug. 14, Peter Brandt accused the issuer and largest holder of XRP tokens, Ripple, of price manipulation.

XRP had dropped to its lowest level against Bitcoin (BTC) in over two years, while XRP/USD circled 11-month lows.

For Brandt, however, even current levels of $0.26 are the result of manual intervention on the part of Ripple, and not natural market forces. Should the practice ultimately fail, the token could shed another 20%.

“Will Ripple be able to manipulate the market to keep $XRP above .2400? A serious breakdown at this level, and .020725 is in the cards,” he wrote in comments accompanying an XRP/USD price chart.

When challenged about his use of language, Brandt defended himself, referencing recent sell-offs by Ripple executives as proof markets were being strategically managed. Separate data had shown Ripple sold more XRP in 2019 than at any other time in history.

“I used ‘manipulate’ because it is exactly what Ripple has been doing since it introduced XRP,” he continued. In a further tweet, he wrote:

“The chart pattern for many, many months has shown the distribution of XRP by Ripple – it has manipulated the price to hold support. But if support gives way Ripple will be forced to dump in a major way.”

Watershed U.S. moment looms
Ripple was already at the center of attention this week amid signs United States regulators could soon become involved in a lawsuit relating to XRP’s status as a security.

While the United Kingdom formally recognized XRP as a utility token, the U.S. lawsuit drew on fresh indications from the Securities and Exchange Commission, or SEC, that the cryptocurrency is indeed a security by local standards."

https://cointelegraph.com/news/xrp-could-fall-20-says-trader-accusing-ripple-of-manipulating-market


RE: Some Ripple insights - Hugues - 2019-08-16

(2019-08-16, 09:43 AM)Carsten Wrote: Not only good news about Ripple sadly...here are some bad news:

"XRP Could Fall 20%, Says Trader Accusing Ripple of Manipulating Market.

Brandt: Ripple manipulated XRP for years
In a series of tweets Aug. 14, Peter Brandt accused the issuer and largest holder of XRP tokens, Ripple, of price manipulation.

XRP had dropped to its lowest level against Bitcoin (BTC) in over two years, while XRP/USD circled 11-month lows.

For Brandt, however, even current levels of $0.26 are the result of manual intervention on the part of Ripple, and not natural market forces. Should the practice ultimately fail, the token could shed another 20%.

“Will Ripple be able to manipulate the market to keep $XRP above .2400? A serious breakdown at this level, and .020725 is in the cards,” he wrote in comments accompanying an XRP/USD price chart.

When challenged about his use of language, Brandt defended himself, referencing recent sell-offs by Ripple executives as proof markets were being strategically managed. Separate data had shown Ripple sold more XRP in 2019 than at any other time in history.

“I used ‘manipulate’ because it is exactly what Ripple has been doing since it introduced XRP,” he continued. In a further tweet, he wrote:

“The chart pattern for many, many months has shown the distribution of XRP by Ripple – it has manipulated the price to hold support. But if support gives way Ripple will be forced to dump in a major way.”

Watershed U.S. moment looms
Ripple was already at the center of attention this week amid signs United States regulators could soon become involved in a lawsuit relating to XRP’s status as a security.

While the United Kingdom formally recognized XRP as a utility token, the U.S. lawsuit drew on fresh indications from the Securities and Exchange Commission, or SEC, that the cryptocurrency is indeed a security by local standards."

https://cointelegraph.com/news/xrp-could-fall-20-says-trader-accusing-ripple-of-manipulating-market
Don't what to think about these statements.
To be honest I do not any reason why Ripple would do that.
What I do believe is that some big investors are manipulating to market. They try to create FUD, because to know more than we know. They have could feelings about investing. I believe they suppose XRP is heading to higher level. To maximize their proffits they manipulate the market so they can buy cheap to make even more profits.
They create FUD.

I believe we should buy more XRP now.


RE: Some Ripple insights - Carsten - 2019-08-16

What you say is true about all coins. There are big players manipulating the market. The question is if Ripple is one of the manipulators? I don't know but to me it seems like they try to keep the value of xrp at around $0.3.


RE: Some Ripple insights - Hugues - 2019-08-25

I found this article, but to me it makes no sense.
What advantage could ripple have by manipulating the value?



Sale of Ripple (XRP) Tokens Blamed for Collpase in Value
Reading Time: 3 minutes by Edoardo Vecchio on August 25, 2019 Altcoins
According to an article published by Bloomberg on August 23, the reason why XRP price has been falling during 2019 could be due to a continuous sale of XRP by Ripple. In response, people have started an online petition on change.org called “stop Ripple dumping”.

What Happened to Ripple?
Bitcoin along with most of the other cryptocurrencies have shown excellent signs of recovery through 2019 so far, according to data from CoinMarketCap. The overall cryptocurrency market rose from around $125 billion from January 1, 2019, to a maximum of $387 billion by June 26, 2019, an increase of more than 200 percent. Though this has changed significantly with the current total capitalization is hovering at $262 billion.

However, not all cryptocurrencies benefited from this recovery. In particular, it seems that the bear market for XRP never came to an end. Even though its market position remained stable in third place with a capitalization of $11.5 billion, the token has recorded a loss of 20 percent since the beginning of the year.

Cause and Effect
XRP is a “cryptocurrency” (only by name) that got increasingly popular as big financial institutions would start to use it as an alternative for international settlements. Apparently, that is what Ripple Labs, the primary firm behind the development of the Ripple Payment Protocol, is working on. They are making dozens of partnerships with financial institutions all over the world in order to establish Ripple technology as a standard for cross border payments.

But then, why is the price collapsing?

To better understand this step we must first analyze the structure on which the XRP token was created.

Ripple was initially conceived in 2011 by Arthur Britto, Jed McCaleb, and David Schwartz with the aim to optimize the weaknesses of Bitcoin, namely the risk of 51% attacks, speed in transactions and transaction capacity. The project was actually implemented in 2012 but the team made very different choices than that of Bitcoin, as set out in the original Bitcoin whitepaper.

The company in fact decided to create the totality of the tokens in advance by distributing:

80 billion XRP to Ripple Labs
9 billion to Jed McCaleb
7 billion to Chris Larsen
4 billion to other founders
One of the fundamental pillars of cryptocurrencies is that they do not have a central issuer or a regulating authority as those two characteristics would make it much more similar to a security that hence would be regulated.

Over time, Ripple has distributed the tokens to its users, but still holds a majority of XRP (around 58 percent) as it uses them as a natural part of its revenue model. This distribution gives enormous power to the company and its creators who could decide from one day to the next to flood the market with a massive sell of XRP and crush its price.

For this reason, the company announced publicly to move 55 billion XRP to escrow in May 2017, with a promise to not manipulate XRP market price. The transition was effectuated in December 2017. To add transparency to the use and sale of XRP, the company publish quarterly XRP market reports, accounting for how much is spent of the escrow fund, on what, and how much is returned to escrow.

But as we can see this requires a certain level of trust towards the company, and this trust is starting to wane.

Many investors believe that the 2019 price drop is mainly due to an increase in monthly XRP sales which prevented a price recovery. The company denies this, but according to a report by Coin Metrics, Ripple’s reports have differed from actual sales numbers at least twice and the unspent funds that should have been returned to the escrow were used differently.

According to Eric Turner, director of research at Messari:

“Ripple has been more aggressive in their selling lately…Last quarter’s $251.5 million was up almost 50% from the $169.4 million sold in Q1.”

This implies that the company violated the promise made in 2017 which pledged that Ripple would have access to a maximum of one billion XRP per month.

Control over Money Supply
Despite that Ripple has been on a mission to dispel the notion that it is responsible for the XRP currency it issues, this latest dose of reality indicates that the company has control over the token and its supply.

This sheds some light on an astonishing facet of the technical accomplishment that is Bitcoin. Bitcoin’s supply is strictly limited, no matter how many people use the network, how much its value rises, or how advanced is the mining equipment, there can only ever be 21 million bitcoins in existence. That is why Bitcoin is an asset that is well-suited for playing the role of a store of value.



source:https://btcmanager.com/ripple-xrp-tokens-collpase-value/?q=/ripple-xrp-tokens-collpase-value/&


RE: Some Ripple insights - Carsten - 2019-08-25

The national banks are also manipulating the value of our fiat currency keeping it at a certain level by either selling or buying.

Ripple seems to do the same to keep xrp at around 0.3 usd. Why that price is so important is something I don't know. The current price is a bit below that (to my surprise) probably because Ripple is selling. Maybe they need the cash? What other reasons is there for dumping?


RE: Some Ripple insights - Hugues - 2019-08-25

https://www.ripple.com/insights/q2-2019-xrp-markets-report/?utm_source=twitter&utm_medium=organic_social


RE: Some Ripple insights - Carsten - 2019-08-25

(2019-08-25, 01:30 PM)Hugues Wrote: https://www.ripple.com/insights/q2-2019-xrp-markets-report/?utm_source=twitter&utm_medium=organic_social

Okay so Ripple claims they will reduce the selling of xrp from now on. We should therefore see the price increase also by assuming the demand is the same or even higher.