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Title: How to read Ripple orderbook? Post by: Joni on September 22, 2013, 11:19:27 AM What does this all mean? How do I see how many XRP do I get with one € or how many euros is one XRP? Bids are buyers and asks sellers or am I wrong?
If im not mistaken one XRP is about 0,01 $ so these orderbook figures just doesn't seem to make any sense to me. http://www.netikka.net/enclave/ob.jpg Title: Re: How to read orderbook? Post by: marcovaldo on September 22, 2013, 11:22:21 AM What is the website?
If you check on bitstamp (for btc) : https://www.bitstamp.net/market/order_book/ You can see bids (buyers) for $122.92 or less, and asks (sellers) for $122.94 or higher Title: Re: How to read orderbook? Post by: Joni on September 22, 2013, 11:26:21 AM This is from ripple website.
Title: Re: How to read orderbook? Post by: marcovaldo on September 22, 2013, 11:29:13 AM I do not know about it, but it is really strange because:
1) gap between bids and asks is really high (more than bid price). 2) Volume is really really low. Click on my link, and you will see a proper order book Title: Re: How to read orderbook? Post by: Joni on September 22, 2013, 11:34:02 AM That I can understand, this orderbook from ripple just puzzles me.
Title: Re: How to read orderbook? Post by: Joni on September 22, 2013, 11:46:53 AM Then there is this. According to this https://ripplecharts.com/market/USD:Bitstamp/XRP, one XRP is about 0,01 $, if I go to bitstamp-> buy XRP it says I would only get 74 XRP for one $.
Title: Re: How to read orderbook? Post by: Foxpup on September 22, 2013, 01:48:13 PM It's quite simple. Size is the number of euros that people are offering to buy/sell, price is the number of ripples they want per euro, and sum is the cumulative total sizes of the orders, ie, the total number of euros that must be bought/sold to reach that price.
To give an example of how it works, say you want to trade 10 euros for ripples at market. How many ripples would you get? Well, you'd get the best bid price for your euros, which in this case is 81.37 XRP per euro. But you can only sell 5 euros at that price, so for the remaining 5 euros, you get the next best bid, which is 80.98 XRP per euro. But again, you can only sell 4.35 euros (9.35 total) at that price, so you sell the remaining 0.65 euros for the next best bid after that (75 XRP per euro). This bid is finally large enough to sell all your remaining euros, so we're all done, and you've sold 5 euros for 81.37 XRP each (406.85 XRP), 4.35 euros for 80.95 XRP each (352.1325 XRP), and 0.65 euros for 75 XRP each (48.75 XRP), for a grand total of 406.85 + 352.1325 + 48.75 = 807.7325 XRP. Average price = 80.77325 XRP per euro (or 0.01238 euros per XRP if you prefer). Buying euros with ripples follows the exact same sequence, only you use asks instead of bids (and so you'll pay at least 205 XRP per euro due to the massive bid/ask spread resulting from the ridiculous illiquidity). Title: Re: How to read orderbook? Post by: yucca on September 22, 2013, 02:08:10 PM ^^^^^ @Foxpup describes it perfectly.
When I first saw this on ripple I also thought WTF! I couldn't imagine that the spread could be that wide in an operating market. But it is and it indicates an almost non operating market. Title: Re: How to read Ripple orderbook? Post by: Joni on September 22, 2013, 04:35:31 PM Thank you! Trying to figure that out was driving me nuts, it makes sense now :).
Could someone send me couple of XPR's so I could test selling and buying, I mean just a few like 0,01 $ or something if you did get the 10 000 XPR's from Ripple giveaway? I wasn't eligible for the giveaway here since i'm a longtime lurker and haven't registered before february :/ rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B Title: Re: How to read Ripple orderbook? Post by: wasserman99 on September 22, 2013, 08:07:35 PM It shows depth in EUR and price in XRP/EUR so you do the math. :D
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