Ripple didn't lose value, they removed the Korean exchanges

[sunlitit654]

Ripple didn't lose value, they removed the Korean exchanges selling price from the valuation

Apparently, the difference in the price of ripple that everyone is seeing has nothing to do with the actual company or their currency. I just found out that Coinmarketcap.com has now removed the value at which coins are sold at on the Korean exchanges from the total value they credit the coin. Doing so caused a major disruption in the market. To the unknowing observer it looks like there's been a massive sell off of Ripple. Quite to the contrary, the move from the website was solely responsible for the devaluation of Bitcoin, Ethereum, and Ripple when the price fell without warning. The South Korean government has been getting more and more involved, and somehow the article I read attributed coinmarketcap.com's decision to the pressure being applied by the authorities.

So, that really puts a question in my mind. Is the value of a digital currency that easy to manipulate? I mean, we aren't talking about a few thousand dollars here. The decision dropped total market cap by 100 billion dollars. That is some very serious business right there.

On a brighter note, they are all beginning to bounce back. I also noticed that Ethereum is now outpacing both Bitcoin and Ripple. Is Ethereum going to be the next king of crypto hill? It certainly looks like it based on the direction their value is moving. One of Ethereum's founders did an interview the other day saying that many of the digital currency projects are unsustainable and that there is going to be a crash. He went on to say that the market will consolidate, and become more solidified. Honestly, it sounded like he was doing his best to jockey his coin into position to overtake the top spot from Bitcoin.

[amishmanish]

Ripple didn't lose value, they removed the Korean exchanges selling price from the valuation

This is another one of the reasons that you cannot rely on marketcap of coins like ripple to judge their value. Bitcoin has value because of the longest chain that has the most PoW done on it. The value of coins like ripple, bcash is coming from clever/ shrewd marketing practices and not enough usage.

So, that really puts a question in my mind. Is the value of a digital currency that easy to manipulate? I mean, we aren't talking about a few thousand dollars here. The decision dropped total market cap by 100 billion dollars. That is some very serious business right there.

Agree with you on this. It really is the wild west right now. But it always has been when novel economies are kickstarted. The early birds and fast movers get the advantage. Look how Bcash is manipulating the narrative. Their reddit is a funded circle-jerk with people tipping each other for writing odes about Bcash or shitting about bitcoin. Their is manipulation and controlling tactics going on. Alt-coins get easily pumped on hype and plagiarised whitepapers (Like Tron). If there is even a shred of substance, then it gets 100x within weeks. (Like XRB).
There's plenty money to be made and equal plenty lessons to be learnt.

[yugyug]

i am a strong believer of the Ripple as one of the strongest and more sustainable cryptocurrency in the market and this is where the creator of this Ripple was one the richest billionaires in the world of digital currency. Let's just sit. relax and watch the Ripple bounce back again as i have seen its biggest potential for growing up.

[tk808]

i am a strong believer of the Ripple as one of the strongest and more sustainable cryptocurrency in the market and this is where the creator of this Ripple was one the richest billionaires in the world of digital currency. Let's just sit. relax and watch the Ripple bounce back again as i have seen its biggest potential for growing up.

Rest in Ripples, enjoy your scamcoins as the markets for it die a slow and painful death. I'm personally enjoying the bloodbath of XRP, scam is a scam.

1st) 80% of the exchanges agree on the current valuation of XRP around 1.6-1.7 at time of writing.


Little do you guys know, the Korean exchanges are all manipulated and fucked to no living daylights. There is some serious corruption ongoing atm, and news is coming out about some type of investigation regarding those exchanges. Coincidence? Time will tell. I personally just don't know.

If you draw value based on the korean exchanges, you will lose a lot of fucking money, guaranteed. If you have a broker in Korea or able to actively sell on those korean exchanges, then you can make a lot of $$$.. for any coin. I think a lot of big shot investors on Wallstreet are trading those differential trades and making just a shit ton of cash, more than investing in any alt. It could be the most lucrative & safest type of trading that has ever been seen in crypto. And, it is also the most unknown way to make large profits... to most of you at least.

[sarfwr]

Perhaps because of the instability of South Korea's policy, the Ripple removed the price of the Korean market, and it may be because the price in the Korean market is too high to be considered as a reference value.

[fenican]

Uh, no. XRP has been CRUSHED on every exchange. It's trading for around $1.66 at the moment. Market cap has nothing to do with exchanges other than the fact exchanges set a price that can be used to compute it. The market capitalization of a coin is the average price traded time the number of shares outstanding. There are never large differences between prices on different legitimate exchanges since that would create an immensely profitable arbitrage - not like you can go buy XRP on the hundreds of exchanges where it is $1.66 and then go sell it on this mythical removed exchange where fairy dust flies and it's still $3.20.

[fenican]

PS: Ripple is also a a scam. If you own any, get out and get out immediately while a "greater fool" still exists to buy your coins. People are getting smarter on the massive XRP premine and those fools won't be around for much longer.

[aaroc90]

i am a strong believer of the Ripple as one of the strongest and more sustainable cryptocurrency in the market and this is where the creator of this Ripple was one the richest billionaires in the world of digital currency. Let's just sit. relax and watch the Ripple bounce back again as i have seen its biggest potential for growing up.

The company holds like 60% of the supply! i think ripple supporters gloss over this fact alot. If ripple had become huge and bought back these tokens then fair play but no, they had them from the start