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Cryptocurrency mega-thread

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The Dice Man said:
Starting to feel like a slow bleed again.
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Prices just went through 10-12 days of green candles, some pullback is healthy and was due. Even in bull runs there can be 3-4 days in a row of pullback between upwards momentum. ETH is still up 31% over the past month, BTC 17%. Unless BTC closes a day below 36.5k or ETH below 2,300, there is nothing to worry about. There is strong volume support from where prices sit today to those levels, but lose those supports and they turn into resistances again, which is not good.
 
The whole market is suffering today, a lot of the selling volume is coming on Binance and Coinbase, which suggests this is likely retail selling with minimal institutional involvement.
 
As an example The Dice Man, during ETH’s run up to 4400, there was a period from April 25 to May 3 that price went up 57%. Not too dissimilar to the run up of about 55% from July 21 to August 2. On May 4, it had a pullback of 10% and then reclaimed it the following day. With the upgrade coming in 2-3 days, I would still be siding with a positive week for ETH price movement.
 

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BACCS said:
As an example The Dice Man, during ETH’s run up to 4400, there was a period from April 25 to May 3 that price went up 57%. Not too dissimilar to the run up of about 55% from July 21 to August 2. On May 4, it had a pullback of 10% and then reclaimed it the following day. With the upgrade coming in 2-3 days, I would still be siding with a positive week for ETH price movement.
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I don't mind a drop as I'd like to pick up more ETH but it's very hard to when we saw it sub 2k only a week or so ago.
 
BACCS said:
The whole market is suffering today, a lot of the selling volume is coming on Binance and Coinbase, which suggests this is likely retail selling with minimal institutional involvement.
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Just on that, who is selling? Europe is 7.30am and the US is hours away from waking up. I'm getting close to my stop-loss orders(I bought too high on DOT and ETH). Are Europe and the US going to continue this down?
 
The Dice Man said:
Just on that, who is selling? Europe is 7.30am and the US is hours away from waking up. I'm getting close to my stop-loss orders(I bought too high on DOT and ETH). Are Europe and the US going to continue this down?
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Asian markets I assume, lot of whales in that part of the world
 
The Dice Man said:
I don't mind a drop as I'd like to pick up more ETH but it's very hard to when we saw it sub 2k only a week or so ago.
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I think you’ve missed the boat on ETH for this cycle. I am honestly very confident of making at least 10x on XRP this year from current prices, vs maybe 3 or 4x from here on ETH. The SEC lawsuit is looking very likely to either be settled or side with Ripple and when that is over, major exchanges will list it again within 2-3 weeks. Once listed on the exchanges again though it’s too late for buying I suspect, would’ve already taken off. I’ve got a nice bag that I might add to with this small dip today.

I’m not necessarily a fan of Ripple the company, but I’m a fan of making money and I think XRP is a good shot of doing that.
 
BACCS said:
I think you’ve missed the boat on ETH for this cycle. I am honestly very confident of making at least 10x on XRP this year from current prices, vs maybe 3 or 4x from here on ETH. The SEC lawsuit is looking very likely to either be settled or side with Ripple and when that is over, major exchanges will list it again within 2-3 weeks. Once listed on the exchanges again though it’s too late for buying I suspect, would’ve already taken off. I’ve got a nice bag that I might add to with this small dip today.

I’m not necessarily a fan of Ripple the company, but I’m a fan of making money and I think XRP is a good shot of doing that.
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Only thing is the case dragging out. As it stands, it may still be going through November.
 

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Pugz89 said:
Only thing is the case dragging out. As it stands, it may still be going through November.
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Apparently the deposition of the former SEC chairman, which is critical for Ripple to debunk the claim XRP is a security, was held last week. Transcript likely won’t be made public though. If it was indeed held last week, it wouldn’t surprise if we hear something next month, but maybe that’s my optimistic side talking haha
 
BACCS said:
I think you’ve missed the boat on ETH for this cycle. I am honestly very confident of making at least 10x on XRP this year from current prices, vs maybe 3 or 4x from here on ETH. The SEC lawsuit is looking very likely to either be settled or side with Ripple and when that is over, major exchanges will list it again within 2-3 weeks. Once listed on the exchanges again though it’s too late for buying I suspect, would’ve already taken off. I’ve got a nice bag that I might add to with this small dip today.

I’m not necessarily a fan of Ripple the company, but I’m a fan of making money and I think XRP is a good shot of doing that.
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10x from current prices? Lmfao it’s got a 33 billion dollar market cap there’s no way it’s going to 10x in 4 months wtf are you smoking ?? You say ETH will flip BTC but you think it’s only going to 3-4x?

how long have you been into crypto may I ask??
 
BACCS said:
Apparently the deposition of the former SEC chairman, which is critical for Ripple to debunk the claim XRP is a security, was held last week. Transcript likely won’t be made public though. If it was indeed held last week, it wouldn’t surprise if we hear something next month, but maybe that’s my optimistic side talking haha
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Discovery isn't due to end until Sept or Oct I think I read. Given both SEC and Ripple agreed on scope of deposition, I'd be curious to know just how much info came out of it. I don't think it's in Ripple's favour to settle, unless the settlement includes clarity on XRP.
 
loplop said:
10x from current prices? Lmfao it’s got a 33 billion dollar market cap there’s no way it’s going to 10x in 4 months wtf are you smoking ?? You say ETH will flip BTC but you think it’s only going to 3-4x?

how long have you been into crypto may I ask??
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So many things here to address.

1. ETH flipping BTC in terms of market cap, not price, that’s ridiculous. ETH’s peak has generally come a few weeks after BTC has already started trending down. If it doesn’t happen this cycle, I’m very confident it will happen in the next, it’s only a matter of time.

2. Is a 33 billion dollar market cap meant to make your point? XRP is at a 5th of its previous ATH as it stands now, 2x on top of that is hardly unrealistic. A market cap between 300-500 billion for XRP is hardly unrealistic either, it’s an established coin with a huge following and strong company behind it. It’s only a matter of time before big banks adopt XRP. The only reason it hasn’t reached those milestones already is because of the lawsuit, once that is resolved (which should happen this year), it will take off. I’m ok if you don’t agree with me, makes no difference to my investment (unless you’re a secret whale), but I’m backing my research here.

Not sure the relevance of the last question, the regular posters in this thread know how much research into fundamentals and charts that I do. There are a couple of OGs in this thread that don’t agree with me often, that’s fine too, I back my research and have conviction with my investments. I have gone through painful losses, but this is fueling my desire to research and improve and remove emotions from my investing.

For what it’s worth, only 10% of my portfolio is XRP, I understand the risks involved with the lawsuit taking an unexpected turn and continuing to suppress price.
 
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Pugz89 said:
Discovery isn't due to end until Sept or Oct I think I read. Given both SEC and Ripple agreed on scope of deposition, I'd be curious to know just how much info came out of it. I don't think it's in Ripple's favour to settle, unless the settlement includes clarity on XRP.
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The case was meant to end around October. The settlement would include clarity on XRP (in a positive way for Ripple) and allow the SEC to get away with a ‘win’ and move on. There is some interesting articles about the case online that have been recently posted, I’ll see if I can dig them up.
 

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BACCS said:
The case was meant to end around October. The settlement would include clarity on XRP (in a positive way for Ripple) and allow the SEC to get away with a ‘win’ and move on. There is some interesting articles about the case online that have been recently posted, I’ll see if I can dig them up.
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It's fascinating though. The fair notice defence which seems to be the premise of Ripple's defence could be used by any company in further cases. I think SEC would be nervous to settle a case which would set a precedence for any future litigation that may occur.
 
Pugz89 said:
It's fascinating though. The fair notice defence which seems to be the premise of Ripple's defence could be used by any company in further cases. I think SEC would be nervous to settle a case which would set a precedence for any future litigation that may occur.
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https://www.cryptoglobe.com/latest/...gainst-ripple-over-sale-of-xrp-this-is-a-war/
https://cointelegraph.com/news/brad...nts-in-international-challenge-to-sec-lawsuit
https://financefeeds.com/ripples-demand-liquidity-goes-live-japan-sec-lawsuit-xrp-goes-silent/

Will be interesting to see if this case ever gets to trial. I can't see how the SEC win this, but Ripple also wouldn't want to drag it out longer than neccessary and risk a trial if a settlement can be reached that satisfies both parties and allows XRP to trade on major exchanges again.
 
BACCS said:
https://www.cryptoglobe.com/latest/...gainst-ripple-over-sale-of-xrp-this-is-a-war/
https://cointelegraph.com/news/brad...nts-in-international-challenge-to-sec-lawsuit
https://financefeeds.com/ripples-demand-liquidity-goes-live-japan-sec-lawsuit-xrp-goes-silent/

Will be interesting to see if this case ever gets to trial. I can't see how the SEC win this, but Ripple also wouldn't want to drag it out longer than neccessary and risk a trial if a settlement can be reached that satisfies both parties and allows XRP to trade on major exchanges again.
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Thanks. I'll give them a read tomorrow. Agree a quick settlement benefits both parties. Just wish it'd be over at this point. Already nudged $2.50AUD this year, so it should blast off once it does settle at least.
 
EIP-1559/London hard fork upgrade should occur around 6-7pm AEST this Thursday, just got an email from Nexo confirming that ETH transactions will be unavailable from about an hour before to 3 hours after the upgrade.
 
BACCS said:
2. Is a 33 billion dollar market cap meant to make your point? XRP is at a 5th of its previous ATH as it stands now, 2x on top of that is hardly unrealistic. A market cap between 300-500 billion for XRP is hardly unrealistic either, it’s an established coin with a huge following and strong company behind it. It’s only a matter of time before big banks adopt XRP. The only reason it hasn’t reached those milestones already is because of the lawsuit, once that is resolved (which should happen this year), it will take off.
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That's what everyone was saying 7 years ago when I first invested in XRP, 'once we get through this lawsuit' a price of X is 'hardly unrealistic'. The fact is 7 years later they've had very little uptake from banks, and wire transfers are still the common standard in banking, despite Ripple offering a process that's completed in under 3 seconds. 'But the lawsuit is holding it back' is also completely false, again the same thing was said back 2018 for their lawsuits that it was a security, their lawsuit against R3 and their lawsuit against Jed McCaleb.

Ripple Swell has been held since 2017, and I remember being super pumped at the time because surely with all these industry people coming to see industry leading keynote speakers at a Ripple conference it would be enough to propel them into the mainstream banking space. 4 years on from their ground breaking conference and nothing has happened.

Additionally their CTO David Schwartz used be all over every aspect of Ripple, on XRP Chat daily etc talking about how they were going to change the world with their payment systems. Today his passion has clearly taken a back seat, most likely because a lot of Ripple employees cashed out and made tens of millions of dollars each during the 2017/18 bull run.

In short Ripple is unlikely to make moves any time soon IMO, and that's coming from someone who really wants them to succeed. It's also the unwanted step child of the crypto space, and gets a lot of hate from crypto enthusiasts because 'it's not a real coin'.
 

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