Crypto $$$

[hellrc5]

Originally Posted by PHATAL

I was riding the high then made two poor choices. Now stuck in it for the long haul...

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Eh yeah if you have some serious money in it then every night might be a nightmare. You wake up to see if the price plumeted or skyrocketed... i seriously consider caching out every night to avoid this sort of surprise

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[PHATAL]

Originally Posted by hellrc5

Eh yeah if you have some serious money in it then every night might be a nightmare. You wake up to see if the price plumeted or skyrocketed... i seriously consider caching out every night to avoid this sort of surprise

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I setup an app on my phone that shows me full screen how much Ripple is worth and how much my total value is everytime I unlock the phone. When I am on the home screen it shows it up the top. Basically I got obsessed. Now it is painful to look at....

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[PHATAL]

Ripple had a somewhat good announcement today and yet the price is plummeting. What is happening? Actually everything is taking a hit today.

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[hellrc5]

Like yesterday :(

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[hellrc5]

-20c / xrp so far should have closed my losing position before i went to bed...

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[PHATAL]

I have gone from $850 down to under $300.

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[GasoLane]

Originally Posted by PHATAL

I setup an app on my phone that shows me full screen how much Ripple is worth and how much my total value is everytime I unlock the phone. When I am on the home screen it shows it up the top. Basically I got obsessed. Now it is painful to look at....

Name the App, so everyone can be in pain

[Bossxr8]

Originally Posted by PHATAL

Ripple had a somewhat good announcement today and yet the price is plummeting. What is happening? Actually everything is taking a hit today.

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Facebook has banned all cryptocurrency advertising.

Like somehow FB is any sort of moral compass

[PHATAL]

Originally Posted by GasOLane

Name the App, so everyone can be in pain

It is Android only called Tasker. You basically make your phone do whatever you want with it.

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[PHATAL]

The screen shot above is what greets me everytime I unlock my phone. It refreshes everytime I unlock and if you leave it sitting there it will update every 2 minutes. You can also click refresh up to 10 times a second if you are that way inclined. It takes the data direct from BTCMarkets. Top figure being current ripple price and bottom figure is how much I have in AUD total.

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[Lunch]

That’d make me suicidal

[hellrc5]

Was anyone brave enough to buy into ripple while it was in freefall, around $1.25?

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[PHATAL]

Originally Posted by hellrc5

Was anyone brave enough to buy into ripple while it was in freefall, around $1.25?

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The only money I have is tied up in the screen shot above.......

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[BENT_8]

Originally Posted by Outbackjack

Just bought another 10k of ripple.

Ouch!

[mcflux]

I've merely been watching from the sidelines since June last year.

Bitcoin in particular seems to be trending very much like this, looks like it's in the "Fear" stage:

[Outbackjack]

Originally Posted by BENT_8

Ouch!

It’s hurts a bit at the moment. But it will pick up. I am still sprooking $5 by Easter. Born optimist that I am...

[Outbackjack]

http://lp.cryptotrades.exchange/the_...le_au_1912018#

Not sure if this been high lighted yet.... But an interesting read.

[hellrc5]

Wtf is happening? After 2 days of MASSIVE drops today finally everithing was in the green and BANG back to the floor again

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[ford man xf]

Originally Posted by Outbackjack

It’s hurts a bit at the moment. But it will pick up. I am still sprooking $5 by Easter. Born optimist that I am...

The good thing about Ripple is that most bought it at the $1.50 - $3.50 range, there is a much bigger chance of Ripple climbing back into that range than BitCoin climbing back to the $20,000 mark. Ripple Labs aren't stupid and will hold off releasing more Ripple to stabilize the tokens price.
Ebay has dropped PayPal as its main payment partner and is now working with Adyen, which uses xRapid technology, so who knows what this might do to the price of Ripple.

[ford man xf]

What affects the price of Ripple?

Looking at price movements and regulation against Ripple Labs technology, effects on price become clear.

The hot topic in cryptocurrency markets is what is driving the price of Ripple (XRP). Some market pundits say it is all speculative trade, others say financial regulation or a lack of it, drives the price of XRP. Others say that the underlying technology moves the price of XRP.

It is hard to say that any one of these factors causes the movements in XRP. By looking at certain events surrounding all three of those factors, it is pretty certain that all three have a strong effect on the price of XRP.

That means this article analyses all three aspects: speculative trade, financial regulation and the underlying technology of Ripple, to make it easier to know what drives XRP.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.
Speculative trade

Speculative trade counts for huge movements in the price of XRP. According to market information released by CoinMarketCap the top three Korean cryptocurrency exchanges accounted for over 50% of daily trade in XRP. It may seem strange that Korean exchanges have been mentioned first, but this is important.

US$200 million dollars was wiped off the cryptocurrency market on 8 January 2018. This happened because CoinMarketCap unexpectedly removed Korean exchanges from its pricing data. This reinforces the reality that we are in the Information Age. CoinMarketCap did not actually do anything other than show lots of people that there was a dramatic drop in cryptocurrency prices without Korean trade.

The effect on global cryptocurrency prices has been enormous. On 4 January 2018 XRP hit an all-time high of US3.84 according to CoinMarketCap. On that same day, Bithumb, the largest South Korean cryptocurrency exchange, showed XRP trading at roughly US$4.47. That indicates nearly a 16.5% premium on South Korean exchanges.

That premium has pretty much disappeared. In the time since 4 January, the margin between XRP on South Korean exchanges and CoinMarketCap has withered to US$0.01, as at the time of writing. But not only that, the South Korean XRP trading price has shed over US$4. Bithumb shows a trading price of US$1.16 compared to CoinMarketCap showing XRP at US$1.15.

At present, speculative trade has the strongest effect on the price of XRP. This can be seen by the strong increases the Korean exchange markets have had on its price. That was until regulation became a barrier to entering the market.
Financial regulation

Lack of financial regulation allowed a huge speculative run on South Korean exchanges. At an estimated one third of the South Korean population, South Korea is widely held to be the most embracing nation of cryptocurrencies and blockchain technologies in the world.

Upsetting that, South Korean banks have began a regulatory squeeze. It was announced in early January that traders and exchanges were at risk of having accounts frozen if they were not compliant with the country’s know-your-customer and anti-money laundering policies. That would mean that traders could face not being able to move national currencies into cryptocurrency trading accounts in South Korea.

Those changes stem the flow of people and money going into cryptocurrency markets. As hundreds of thousands of new trading accounts were being added to South Korean exchanges everyday this increase could be associated with the wild increase in cryptocurrency prices around the world. Evidence of this is shown by the pattern of increased regulation and a dip in trading volume.

Screen Shot 2018-02-01 at 17.51.24Source: CoinMarketCap

Drops in trading volume are seeing huge XRP price falls. On 29 January XRP was at US$1.43 and had a 24-hour trading volume of US$1.53 billion. That number dropped to as low as US$826 million by the next day. On 31 January XRP had crashed to US$1.04 as sustained trading muscled it from going any lower. That shows the effective barriers to trading XRP on Korean exchanges has had a negative effect on XRP prices.

The laxed regulatory environment in South Korea, only in December of 2017, banned foreigners from having trading accounts in South Korean exchanges. Of course, this was not much use with anonymous trade not requiring that information. Accordingly, anonymous cryptocurrency trading accounts have been outlawed as at January of 2018.
Underlying technology

Ripple Labs specialises in remittances, which means cross-border payments. Prior to Ripple Labs, the SWIFT system of international payments was virtually without a competitor. That system is being made redundant right now. xRapid, the patent technology underlying XRP, transfers money almost instantly, to any city on Earth, whether that be XRP or US dollars or any other currency.

Ripple Labs technology is world class, but XRP is not yet gaining the traction necessary to be a genuine form of currency. In 2017 Ripple announced some big contracts and some big testing partners, the US Federal Reserve and English Central Bank among them. Also, Ripple Labs and European banking clientele were involved in moving hundreds of millions of US dollars across borders.

xRapid is also being marketed well in the largest remittances market on Earth in Singapore. The Monetary Authority of Singapore (MAS) revealed that Ripple Labs was one among a number of blockchain companies as the MAS conducted its blockchain experiment. Standard Chartered of Singapore and AXIS Bank of India have been using xRapid to send money across borders. The trouble is that none of this is increasing the use of XRP.

At this stage it is too risky for institutional banks to use XRP in cross-border payments. What this shows is that while the xRapid technology is excellent, unless XRP can be used for cross border payments the underlying technology does not drive the price of XRP. The examples above have all been transacting in currencies other than XRP. In the United States and any other country where Ebay is used, that could change soon.

XRP’s use will increase because it might soon power all of Ebay’s transactions. Finder reported on 1 February 2018 that Ebay had announced it will offer Adyen as a payments provider. Adyen has other noteworthy clients like Uber, Netflix and Spotify. What is interesting about this is that Adyen has integrated xRapid into its technology and payment processing. It looks as though XRP’s adoption in payments could increase in those circumstances.
What this means for the price of XRP

For XRP, exchange trading and financial regulation will have short-term impacts on price and the underlying technology is more likely to have long-term impacts on price. To the extent that speculative trading can affect XRP, financial regulation acts to restrict that. This is a simple out come of supply and demand.

The demand to trade XRP on korean exchanges was because barriers to the market were low. As barriers to the market have been introduced and strengthened, the volume of XRP trade has dropped and also its price.

Effectively, what this means is that control of XRP price falls more closely with Ripple Labs. There is evidence that suggests 91.46 Billion XRP are held in the top 59 wallets and all of them hold 100 million XRP or more.

For Ripple Labs, it makes good business sense to have a stable XRP price. That allows institutional banking clients use XRP to make cross-border payments. Even if that does not happen, the use of xRapid seems to be increasing with Adyen being a partner. But at this stage it is not possible to say that will drive the price of XRP.

Even if the price of XRP stabilises, it can not be known whether or not XRP will be used by its clientele. If there was one thing to share, effective regulation has curbed speculative trading and lowered the price of XRP.

https://www.finder.com.au/what-affec...rice-of-ripple

[ford man xf]

Originally Posted by hellrc5

Wtf is happening? After 2 days of MASSIVE drops today finally everithing was in the green and BANG back to the floor again

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People seem to be going for the super quick buy and sell, it appears they buy heaps of x coin cheap and then sell it again as soon as it goes up by only 5-10 cents, you can make money this way but its very risky. Thats why the price of the coins drop, then go up around 10 cents then drop again when they sell off. As someone already noted there are bots that auto trade between coins as well.

[Captain Stubing]

I was talking to a bloke today who had someone hack his email account. In the inbox were emails from different crypto exchanges that he joined. The hacker then used this info and got into his exchange account, and transferred all his XRP and LTC into an external digital wallet. The only thing known was an IP address in Switzerland, and the account number of the wallet.

Two Factor Authentication on the email account would have prevented the hacker from getting in to steal everything.

[hellrc5]

Yeah 2factor auth is a great thing if you have more than a few dollars in crypto...

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[PHATAL]

$1.15.....

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[hellrc5]

Phatetic

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[hellrc5]

Feels like an other day of destruction :/ There is a big crypto conference 4-6th this month in Singapore, hope that bumps the price a bit

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[PHATAL]

$1.10

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[hellrc5]

Originally Posted by PHATAL

$1.10

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I think since it fell through the psychologically important US$1 mark now thr limit is just the floor.. now it is going to fell below A $1

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[Bossxr8]

All of it has dropped massively again. Can't see the market ever returning to where it peaked.

[Trump]

It's a sea of red...