XRP dumped and BTC goes up, coincidence ? - page 2.

wxa7115

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Quote from: AbbyS on December 17, 2020, 09:22:09 AM

I have a theory, that some coins influence BTC price negatively,
In the past i felt that once XRP goes BULL, it stops BTC BULL
and now, i see once XRP was dumped after the airdrop, BTC went bull again

Very improbable theory but where is the evidence? we know that XRP is correlated to bitcoin and there are tests that you can make on the data to make this inference, but you cannot make the same inference backwards, in fact you are trying to argue they are negatively correlated in a similar fashion than what we see between stable coins and bitcoin when compared on their BTC price.

Personally this is a topic that I have studied for a long time and I simply do not see it and in the few cases that this may have happened this can be attributed to a simple coincidence and nothing more.

Tash

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Quote from: Lhaine on December 23, 2020, 11:15:37 AM

.....
There is also news that Ripple also plan to migrate to other country even before sec suit them .

LOL, ask Liberty Reserve how it worked out for them in moving to Costa Rica (btw it did have 1 million active users and 5 million accounts)
https://www.justice.gov/opa/pr/founder-liberty-reserve-pleads-guilty-laundering-more-250-million-through-his-digital

Lhaine

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Quote from: Psynthax on December 23, 2020, 03:40:12 AM

Now here comes the news about XRP getting sued. I'm pretty sure that XRP dump this time gonna be huge because many people want to withdraw their money or exchange it to more "prospective" coins and there's this really bad news about XRP.
I will be simply amazed if XRP could atleast retain its 50% of the current values it things goes south. The airdrop which supposed to pump XRP now become catalyst speed up the dumping somehow.

It's already happen it's dumped %30 in just a day , there are even more negative news like this one https://seekingalpha.com/news/3647012-bitwise-unloads-all-ripple-in-fund-after-sec-suit?utm_source=coinmarketcap.com&utm_medium=referral . That can force other investors to dump their tokens and move to other altcoins instead.

There is also news that Ripple also plan to migrate to other country even before sec suit them .

soetikno

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investors who buy XRP are likely only for an airdrop because they hold XRP for too long to dump, and switch to BTC

arabianhorse

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We are all aware the XRP is facing changes by SEC against Ripple Labs Inc. & two of its executives. This is really a serious news as they allege that they raised over $1.3 billion through an unregistered digital asset securities offering which is creating a huge fud and panic in the market and when such news come, it comes with many rumours like XRP might not be tradable but if this happen then it will be for US not for the world as for giving trading facility to users exchanges also have to register accordingly in US and this is always a big issue for any centralized crypto and XRP price feeling the heat.

mu_enrico

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Yeah, it isn't good for XRP: https://www.sec.gov/litigation/complaints/2020/comp-pr2020-338.pdf
But EOS can "dodge" a similar lawsuit by just paying unsubstantial fines. Let's see if Ripple can just do that.
The price will rebound if it just fines. However, if Garlinghouse and Larsen go to prison, it would be horrible for XRP.

tvplus006

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Quote from: Psynthax on December 23, 2020, 03:40:12 AM

Now here comes the news about XRP getting sued. I'm pretty sure that XRP dump this time gonna be huge because many people want to withdraw their money or exchange it to more "prospective" coins and there's this really bad news about XRP.
I will be simply amazed if XRP could atleast retain its 50% of the current values it things goes south. The airdrop which supposed to pump XRP now become catalyst speed up the dumping somehow.

Already today, we see that XRP has lost more than 70% of its value from the last local high. The massive coin dump began, preceded by news that the SEC had already filed a lawsuit against Ripple's CEO and co-founder, in connection with the illegal sale of $1.3 billion worth of securities.

Psynthax

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Now here comes the news about XRP getting sued. I'm pretty sure that XRP dump this time gonna be huge because many people want to withdraw their money or exchange it to more "prospective" coins and there's this really bad news about XRP.
I will be simply amazed if XRP could atleast retain its 50% of the current values it things goes south. The airdrop which supposed to pump XRP now become catalyst speed up the dumping somehow.

AmoreJaz

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Quote from: darewaller on December 23, 2020, 03:05:40 AM

If the XRP getting dumped after airdrop is what you’re referring to, then you have to understand that it is a normal thing in this market. Have you been following up with airdrops that are being in the crypto market/environment?

Anytime there is airdrop it seems like the market is going up and once the airdrop is over the market goes down because most of the people who are there for the airdrops just wants to cash in on it and nothing more. They are not interested in getting the airdrops and holding them for a long time, they just want to get that money and quickly sell it.

unfortunately, xrp keeps on falling even if the btc is going up. i thought it will only experience a sudden drop after the airdrop-dec 12, but will go up again as btc is going up. sadly, it is not the case here. seems that it is going back to about 25 cents again. that means, those xrp holders during the airdrop dont believe the capability of this coin as part of their long term investment. maybe, they are converting their xrp to btc again. not surprising though.
on the other hand, xrp team should do something in order to gain back the interest of their holders. why not make their buyback on a regular basis?

darewaller

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If the XRP getting dumped after airdrop is what you’re referring to, then you have to understand that it is a normal thing in this market. Have you been following up with airdrops that are being in the crypto market/environment?

Anytime there is airdrop it seems like the market is going up and once the airdrop is over the market goes down because most of the people who are there for the airdrops just wants to cash in on it and nothing more. They are not interested in getting the airdrops and holding them for a long time, they just want to get that money and quickly sell it.

fishbonez11

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Quote from: ije07 on December 22, 2020, 08:57:12 AM

Quote from: ?? on ??

It may have had an effect when XRP was dumped and then bought back bitcoins. This immediately proves that everyone still believes in bitcoin to keep it back. Airdrop spark is over, of course it's just for looking for a little profit.

Airdrop from XRP was not as luxurious as Airdrop from Uniswap at that time, in fact I no longer heard any rumors about the XRP airdrop update. but maybe coincidence or not. and what happens now that the price of XRP is increasing quite well along with the increase in the price of BTC itself.

XRP price Currently goes down because of the issue regarding the CEO and SEC. People might have panic because of the news, we've seen 20% loss in profit for those who hold. There are still rumors that the price might still go up, and this news has short effect since XRP have faced similar issues before.

ije07

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Quote from: ?? on ??

It may have had an effect when XRP was dumped and then bought back bitcoins. This immediately proves that everyone still believes in bitcoin to keep it back. Airdrop spark is over, of course it's just for looking for a little profit.

Airdrop from XRP was not as luxurious as Airdrop from Uniswap at that time, in fact I no longer heard any rumors about the XRP airdrop update. but maybe coincidence or not. and what happens now that the price of XRP is increasing quite well along with the increase in the price of BTC itself.

tvplus006

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Quote from: Tash on December 22, 2020, 06:14:27 AM

SEC suing is no small matter, it is after all a illegal security sale
https://www.coindesk.com/sec-to-sue-ripple-over-xrp-sales-ceo-says

This is so far only the SEC's statement that they plan to file a lawsuit against the company. But such statements negatively affect the price of XRP, which fell by 10%. But in any case, if the case goes to court, it will be a battle of expensive lawyers who will look for loopholes in the current legislation.

JaoBadjap

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i dont think there's a direct connection with the dump of xrp and bull of btc
i think its rather the other way around
we all know most of altcoins are directly be affected when BTC hits bearish market.

Tash

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SEC suing is no small matter, it is after all a illegal security sale
https://www.coindesk.com/sec-to-sue-ripple-over-xrp-sales-ceo-says

ultrloa

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Quote from: AbbyS on December 17, 2020, 09:22:09 AM

I have a theory, that some coins influence BTC price negatively,
In the past i felt that once XRP goes BULL, it stops BTC BULL
and now, i see once XRP was dumped after the airdrop, BTC went bull again

The least we can do is to speculate and think about that the demand shift to bitcoin after it pumps again and was changed once XRP showing some good sign again, remember these two are the most hype right now an many was keep looking forward to gain some decent profits with it. But I don't think we can see those scenarios frequently since once the whales get used enough either with bitcoins and xrp for sure the alt season will follow.

el kaka22

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That is not really the case in most of the time is it. Sure you are free to think whatever you want but the reality is that bitcoin prices are not tied to anything else, because nothing else has the same level of power bitcoin has which means it can't move bitcoin neither. Let's assume that xrp dump is causing bitcoin to pump right? What does that mean? It means that people who sold their xrp moved to bitcoin that moved bitcoin price higher.

Well that wouldn't work for two reasons, one of them would be bitcoin price increase should have a connection to dollars and this has dollars nowhere in the talks, secondly xrp dump is very very tiny compared to bitcoin increases, some millions of dollars versus increase of tens of billions of dollars can't be compared to each other. Hence I believe there is no connection from xrp to btc, there is a million reasons why btc has a connection to xrp price, but not the other way around.

zidanw

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Quote from: AbbyS on December 17, 2020, 09:22:09 AM

I have a theory, that some coins influence BTC price negatively,
In the past i felt that once XRP goes BULL, it stops BTC BULL
and now, i see once XRP was dumped after the airdrop, BTC went bull again

If you could show us some analysis that your theory that it might be possible then there's really a chance that there's a correlation between between the two cryptocurrency but if there's not I really think that was just a coincidence.

tvplus006

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Quote from: kidbounty on December 20, 2020, 11:57:43 PM

yes, but not only ripple. all altcoins will experience the same thing if bitcoin is being pumped. ripple is having a slightly bigger impact because XRP has already completed its snapshot, people are sure to sell it right away to buy a more profitable altcoin. but look at today the ripple has started to return after yesterday's decline.

It should be remembered that according to the snapshot, only 15% of the Spark issue will be distributed. The remaining tokens will be distributed among those XRP holders, depending on the duration of the hold. Therefore, those who bought XRP only to participate in airdrop are now making the mistake of dumping XRP

kidbounty

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Quote from: AbbyS on December 17, 2020, 09:22:09 AM

I have a theory, that some coins influence BTC price negatively,
In the past i felt that once XRP goes BULL, it stops BTC BULL
and now, i see once XRP was dumped after the airdrop, BTC went bull again

yes, but not only ripple. all altcoins will experience the same thing if bitcoin is being pumped. ripple is having a slightly bigger impact because XRP has already completed its snapshot, people are sure to sell it right away to buy a more profitable altcoin. but look at today the ripple has started to return after yesterday's decline.

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