Fellow Veeky Forumsraelis! After comparing the crypto market of 2017 I came to the conclusion that the XRP trades are being manipulated to hell and back. This might sound like a tin-foil-conspiracy, but hear me out on this one. I was reading an older article on the finpost [1] (clickbait headline but good content) last week that basically detailed how stock traders manipulated the market in the 1930s in their favour by buying small quantities, building sell walls and so on without affecting the price of the traded stocks too much. Taking that in consideration when looking at the market for XRP it certainly seems like the same tactic from the 30s is being put into use here.
There's one more detail to this entire story. Back in 1992 George Soros used futures trades to bet against the British Pound [2] and utterly destroyed it's value while raking in a benefit of $1.5 billion. Now that CME and CBOE are starting to trade futures for Bitcoin and even Goldman Sachs is getting in on this, it feels like the big institutions are trying to crush the value of BTC while ensuring a survival for their own stocks on XRP and the Ripple network. Many banks and payment providers are already using Ripple for their transactions [3] and many more will follow, as the Ripple company is actively marketing and advertising their network to banks, trying to expand their reach. BTC is already banned in a lot of countries [4] and more people are calling out for a ban on unregulated cryptocurrencies [5].
What does this all mean? What is your opinion on this?
TL;DR XRP market is being manipulated, likely by banks Disclaimer: I am holding some XRP
Interesting. I remember Black Wednesday in the 90s and how that cunt Soros made a cool £1billion out of the fiasco. Surely though, the crypto market is a different beast to the UK in the Exchange Rate Mechanism.
It wouldn't surprise me if what you said comes true or at least is being pushed. Time to buy some Ripple?
Brayden Martin
The only thing you need to know about XRP is its used to launder Bitcoin and it will closely follow bitcoins rises and falls.
Andrew Russell
I really don't know. XRP on the one hand could be the single cryptocurrency that is allowed to be traded and thus suddenly spike in value, on the other hand they could just as well ditch XRP's value and focus on Ripple's network for their transaction systems. This entire situation is very worrying but I smell opportunity at the same time.
Jace Morgan
I have 8.5k XRP and I've made 40% since buying and holding compared to the 400% I've made on REQ. The XRP price is being suppressed so much it makes my hands even stronger despite the opportunity cost. Something stinks in the way it's being manipulated downward. Any, literally any coin that announced a partnership with fucking AMEX would be parabolic at this point, huge supply or not. When XRP takes off it will mostly be in the hands of the 1% already. But fuck them. I'm hanging on for deer fucking life.
Matthew Hernandez
Also the timing of the XRP escrow being finalized comes awfully close with the opening of BTC futures. Coincidence or planned move?
Samuel Taylor
It's been planned to happen during Q4 2017 for a while, they probably scheduled it to happen in december because they didnt want to overshadow SWELL.
Blake Morris
I've heard this idea before. I think somebody noticed some kind of pattern in the trades that looked like bots.
So what do people think is the point of the manipulation? Are *they* keeping the price down to accumulate insane amounts of XRP? Will the floodgates one day open revealing a price singularity? Or is this just how XRP is supposed to function. I mean ripple have said that they want to demonstrate a non volatile token so that banks will be more likely to use them.
Zachary Fisher
Switch over to Stellar, mate
Eli Hernandez
The reasons given might differ from the actual intent. We will only know in hindsight I guess, if ever.
My thinking is, that whoever is behind the manipulation is accumulating XRP while also trying to keep the prices low enough for other speculants to chime in. And even if Ripple had said they wanted to demonstrate a non-volatile token, how exactly do you create non-volatility in an open market? Answer is: you can't unless you actively engage in manipulating the prices yourself.
I got enough diversity in my portfolio and XLM is already in it. Thanks for the thought though.
Kayden Diaz
I used poloniex to buy my XRPs, I have 10930 of them. On 11 Nov I had about .29 Bitcoins worth of these!
But last week on Friday when I bought only 90 extra XRPs the price of my total holding showed as 0.16724 BITcoins!!! I have raised the matter with polonie however, to noreplies as yet!!! I bought XRP at various $ ... .14 .15 .20 .21 .23 .24 .25!!!!! not sure how I came across such a discrepancy because before the last puchase the price was at .29 BTC!!!
The banks are using ripple net the technology The token / coin XRP is not as yet in use!!! I the token is used then the price will rise.... to the moon
Aiden Torres
KIKE also checkdd
Ayden Adams
Xrp futures are a thing, cme invested in ripple is a thing. Draw your own conclusions.
Jack Cook
>sell wall liek the one set up on btc right now?
Andrew Young
Currently moving all BTC to XRP
Carter Brooks
>unregulated market >beeing manipulated
Wow OP, how'd you come to that conclusion? You must have a very high IQ.
Jonathan Bell
Is that so? Do you have any sources for the futures and cme thing?
More or less, but yes.
Maybe I should've worded that a little different for IQ200 people like yourself. Would something like "manipulated beyond usual manipulation" have satisfied your high functioning autism?
Anthony Brooks
with large amounts of btc, its pretty simple. just build giant bid/ask walls on either side of the target price range such as those used on future contracts.
Jacob Hill
Same thing is going on with OmiseGO Something is fishy for sure
Landon Kelly
every market is manipulated by a market maker, big whoop
u just need to be on the same side as the market maker and youre good
99% of people are always on the wrong side
>coin x gets really hyped on biz = dump
>everybody on biz ignores and shits on coin y = pump
Nolan Mitchell
My problem with Ripple and banks is that they're not using the coin to do anything that depends on its value. They are using the network. They can use the network in any case, whether XRP is worth $1 or $0.01. So why would they want to hold the price around $0.20?
Nicholas Rogers
heres some more to make me think OP just might be onto something.
my hypothesis is that during the futures launch there was a massive buy up using algos to decimate all the bids, then sell it back while setting up walls on either side of the target price range.
Aaron Clark
>Back in 1992 George Soros used futures trades to bet against the British Pound [2] and utterly destroyed it's value while raking in a benefit of $1.5 billion if one guy can do it in a regulated market, imagine how easy it must be to manipulate muh store of value.
Isaiah Torres
The network works in a way that would allow users to convert their currency to XRP and send it over the network to save even more tx cost. Not sure how this will influence the price. My guess is that they're keeping the price so low as to attract more investors that'll naturally raise the prise and once they're fed, they'll dump their bags. Not sure though.
The sell wall right now on BTC is crazy. Futures was a mistake for the market and I can only assume that it has the same "conquer or destroy" mentality as with the GBP attack in the 90s.
Well to be fair, the attack on the GBP was a coordinated effort not only by Soros but by many US banks and other hedge-fond-managers.
Bentley Turner
How new are you? This is not exclusive to XRP. This happens to all markets, the most recent one being BCH on a large scale
Jaxson Cox
We are used to this. Don't chase pumps. Don't buy high. Don't sell low. Learn to read fuckin charts and you'll be okay. There is no SEC to save you here like conventional securities, don't trust anyone.
Austin Garcia
Not new at all, but it really amazes me how they don't even try to hide the manipulation in the slightest bit.
Jackson Gray
This too is my concern. What's going to rise the price?
Connor Edwards
Because no one is liable. Crypto is still new and instead of complaining like a negroe on welfare, get in on the train and rake in as much as you can before regulation. Currently waiting for a megapump on Polo. Don't miss it losers.
Oliver Brown
It is easy to manipulate a currency with a smaller capitalisation.
It works like this:
- Big investor picks a currency to invest some 10 or 20 millions in. - Price rises. Others get in because they think "ITS HAPPENING". - Price continues to rise. More people get in, hoping to ride the train to success. - Big investor sells with profit. - Prices fall. Those who bought to late or didn´t sell quick enough are fucked.
This is called pump and dump and happens all over the cryptomarket.
Lincoln Foster
who is this animu woman
Liam Baker
what is your point here? 1. that isn't even how the price is being manipulated. XRP doesn't get pumped and dumped.. almost ever. 2. XRP isn't small cap. it has the 5th highest market cap.
Eli Green
There is price suppression of XRP going on. The banks AND ripple don't mind right now as they don't want price volatility while they load up the Ripple systems for trading and testing.
So basically a big obese fucker is sitting on XRPs price right now to keep it stable. Act accordingly.
Jace Walker
Even if it is the 5th highest market cap, it is still nothing for a big player.
I strongly suspect chinese banks to play the puppets.
Carter Ward
They want it to raise slowly. They have an interest in it raising. When more transactions come online, a higher price would make sense to enable more efficiency of trade.
Also Japanese bank SBI showed 60% cost savings using XRP token. Banks will want that..
Noah Reyes
XRP is not victim of a P&D scheme. Price fluctuations are way too small to even be considered a P&D. I'm well aware on how easy it is to manipulate markets, but this wasn't even the topic of the thread.
Brandon Gutierrez
There is no conspiracy.
Ripple has its own official and publicly admitted fund to keep prices artificially stable and they also officialy stated that this was exactly the purpose of this fund. Last time I checked they stated in some article that they were doing buybacks.
Gabriel Perry
Any source for that? Would love to read up on that fund you're talking about.
Joshua Foster
Looks like a boomer. How did you find your way in here?
hes talking about escrow (ripple.com/insights/ripple-escrows-55-billion-xrp-for-supply-predictability/) but that only happened last week, and this manipulation has been going on for months and months. so YES it is the goal for them to keep the prices stable, which is why they locked up 55bil XRP in escrow to be released at set intervals, however that doesn't explain the stability of XRP to date.
Brandon Foster
Exactly my thought. The first news of escrow happening drove the price up to ~.40 and now it stagnates and wanks about at ~.24 The actual news that the escrow took place didn't impact the price much. There were a few green candles lighting up, but red followed shortly after.
Adam Jones
>markets are manipulated NO SHIT YOU GOTTA BE KIDDING ME PULLING OUT EVERYTHING RIGHT NOW
Josiah Wright
This.
>67% of Ripple Labs's original 80% was still retained by the company,[110] with Ripple Labs stating that "we will engage in distribution strategies that we expect will result in a stable or strengthening XRP exchange rate against other currencies."[115]
Ripple wants to be seen as the good boy in the class of crypto so they can get in with the banks. No better way to do that thank having a non-volatile native network token.
Angel Jones
DUMB user CAN'T INTO READING A THREAD BEFORE STARTING TO SHITPOST STOP THE PRESSES Seriously, if you had bothered reading any of the conversation that happened ITT you would've been less of a dunce.
Jace Evans
see note: they have been completely transparent regarding their escrow plans to distribute XRP and keep the price stable, however that does NOT explain the manipulation to date, which is what we are talking about here.
Justin Peterson
what is even your point fucktard? of course markets are manipulated, they are literally made for it, all of crypto is run by whales, if you put at least a little bit of attention to btc orderbook you will see how bad shit really is
Zachary Brown
The point is the "how". This is not a "cryptokiddie's first sellwall" kind of thing. It's larger than that. And coordinated as fuck you homo.
Jeremiah Diaz
the point is that we are speculating how and why they are manipulating the price in this way. this isn't just pump and dump bullshit. its obviously something bigger.
Dominic Smith
at least try next time nobody fucking cares about your "totally not another pump and dump because i read an article somewhere while shitting and checking my bags status" fud
Dominic Bennett
have you ever looked at an XRP chart? how retarded are you
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