ripple shot up.. why?

[kodtycoon]

can someone briefly explain to me why ripple has shot up?

[TrianglePythagoras]

can someone briefly explain to me why ripple has shot up?

Just like how stellar shot up.

I don't see any particular reason.

[e-coinomist]

can someone briefly explain to me why ripple has shot up?

Just like how stellar shot up.

I don't see any particular reason.

TrianglePythagoras, your triangulation pins it to the point! If it is a pump, there is no other reason then in itself, to pump up. But let us take a glance at the numbers.

On BTC38 there is 23.89 % of all Ripple trade volume moving, in a size like $ 332,622 last 24 hours.
The trading pair is Yuan Renminbi against Ripple. Then comes a lot of movement happening inside Ripple Charts so is that an insider job? There are signs.
On the other exchangers like Cryptsy with 2.56 %, Kraken on 1.09 % and Poloniex with 0.71 % basically happens ... nothing.

Follow the money trail they said.

Price keeps walking upstairs inside the Ripple Charts trade pairs which is most probably fake volume pumped around in circles. That makes like 75% of all trades and drive the price, then China is following trading in their Yuan which is a good opportunity if you are living there because the Chinese Government is not exactly friendly atmosphere when it comes to trading money.

The rest of the world Cryptsy-Kraken-Poloniex couldn't care less on that, but at least some $ 60,000 are moving there too. Could be one trader, could be two. I don't know. I would say if you are chinese, and have spare Yuan in your hands, then all you would want to do is keep trading across the spread now and enjoy.

[devphp]

Who cares. Ripple is not a decentralized crypto by design.

[poncom]

A team from the Royal Bank of Scotand won a Deloitte competition by integrating ripple into their trading software as a demonstration.

http://www.finextra.com/news/fullstory.aspx?newsitemid=26704&topic=wholesale

A dutch bank, two US banks, and a German bank (Fidor) are integrating ripple into their networks too. Banks getting involved might have something to do with the price rise.

[God27]

Ripple is premined to 80%. The rest 20% is already used for development. Pumping a project with these low quantity of coins is easy.
It is not new, they done this often in the past when Bitcoin was in decline.

i know it was heavily premined but the distribution now stands around 50/50 between community/ripple labs(plus insiders) afaik. was just wondering if there was news to back the 100% gain in a month... still wouldnt buy.. just curious.

Look back and check if there were news for the last gain.

There wasn't one this is how they do it. They pump the price so they can finance their Development.
Price will drop you can trust me on that.

This game is not new Protoshares did the same.. so what happened when they could not sell any coins anymore ? They just made a new coin.
Wait wasn't Stellar a kinda a Altcoin of Ripple ?? ... Just a thought.

I'm not telling anyone to sell or not to buy. Only to show you what they did in the past.

When I hear this on bitcointalk:

"Price will drop you can trust me on that."

That is when you buy.

No new money really came into ripple the last few days. I guess people are getting in before RBS  and TAS throw a million or so in and move the xrp price 10 fold over night....

[Foerster]

I have a few questions:

1. At the beginning the company Ripple Labs created 100 Billion "tokens" and still owns ~70% of them and ~30% are (more or less) free floating. Is there more detailed information about how well the free floating ripple are distributed (something like X wallets hold more than 1$/10$/100$/1000$/10000$ worth of ripple)

2. Is it true that ripple labs can freeze or seize assets you have on their network?

3. If ripple tokens rise in value, how does this affect transaction cost?

4. What are ripples advantages against Stellar which is basically a copy of ripple, Counterparty, NXT and Bitshares, which are all competing in the payment processor space? (Acceptance by Banks?)

4. How is the ripple network secured, since POW and POS probably don't apply? (Not knowing much about the technicalities)

[hypostatization]

http://www.coindesk.com/price-ripple-xrp-plummets-co-founde-9-billion-selloff/


Price of Ripple Plummets as Co-Founder Plans 9 Billion XRP Selloff

Daniel Cawrey (@danielcawrey) | Published on May 22, 2014 at 22:50 GMT   


Didn't i told you so ? Or didn't i told you so...

Jed accepted a deal that limits the total he can sell on a weekly basis, and the price has now recovered to his pre-sale announcement value. All other founders have also agreed to lockup agreements. Multiple wallets involved in heavy regular sell activity are now depleted. Sell pressure is evaporating. XRP value has been depressed, IMHO.

Ripple is now integrated with banks, market makers, and card services. Financial service businesses are being built on top of Ripple techonlogy. Instant deposits are supported. Contracts and multi-sig are reaching maturity. Even NACHA has noted Ripple in a whitepaper on the future of corporate payments (published 11/18).

If you are on a FUD campaign, it may be easier to switch your strategy over to conspiracy theories---the reality of Ripple's accelerating adoption and success at large is becoming harder and harder to deny. I have not heard any good Ripple/trilateral commission ranting and raving yet, could be an opportunity. I have heard CEO Chris Larsen feeds kittens to a python he keeps in his office, wink wink.

[BootstrapCoinDev]

3. If ripple tokens rise in value, how does this affect transaction cost?

This doesn't. Opencoin, the company behind Ripple, basically a central bank behind the Ripple currency because they premined all of the Ripple tokens that are used to pay for transaction fees on the Ripple network. They consciously control the token fund and will never ever dump tokens because this would drag XRP price down.

[hypostatization]

If you are on a FUD campaign ?

I think you still don't know the real problem if a crypto currency is Centralized ? For example you will likely like Ethereum as well then...

Everything i said is true and when it wasn't i removed it and told everyone that i was wrong.
Everyone can look into the past of Ripple and see, if they were really so honest about their stuff.

Ripple is not centralized. It uses a distributed ledger and consensus algorithm. After explaining that and citing sources, the regular anti-Ripple zealot response is to say that Ripple is too complicated to understand. And, meanwhile, mining based systems gravitate toward centralization as difficulty increases and hardware costs rise. Bitcoin itself is struggling with this issue.

I am sorry if you have a stack of graphics card or ASICs gathering dust. In that position it would be painful to see a currency climb that supports 5 - 10 second global cross-currency payments with a built-in distributed exchange system.

[hypostatization]

See you don't even know where you invest and you want to tell me that i only throw conspiracy stuff around ? LOL.

Ripple is centralized if you only look the post above.And this is just one point.


https://ripple.com/build/consensus-whitepaper.html

404
Page can not be found.


Truly honest indeed.

I am not sure which post you are citing. Is it the one you got self-conscious about and deleted or modified after I responded?

RE: 404

Broken link, calm down: https://ripple.com/consensus-whitepaper/

At the end of the day, I appreciate the ability to buy inexpensive XRP. I recognize that you and a lot of other people put a lot of hard work into attempting to keep the price down. It is nice to be in on the ground floor before things take off on my end, amassing my reserves, but I just see you failing again and again. It is painful to watch man.

Get creative.

Are sources saying Ripple Labs abducted Satoshi?

I am sure you can do better.

[TheMage]

So I think I found the reason, of course ive never looked in depth into these charts before so I do not know if this data was integrated recently or not.


http://coinmarketcap.com/currencies/ripple/#markets

Seems that the largest points of data are coming from ripple labs themselves as far as marketcap via ripple charts. Ive tried to poke around their website to see where the data was coming from and it was difficult, (the details next to the market cap provided button seems to be broken, and navigating around the site will sometimes display charts as internal server errors).

Ripple Charts is built and maintained by Ripple Labs, based on data from the Ripple Network.

Interestingly enough, these charts seem to exclude a quarter of the supposed marketcap with BTC38. If the data is coming directly from the ripple network, why does it not show an entire quarter of data? I would expect that these charts built by ripple labs would want to include all data.



All in all this smells really fishy, much like how ripple "passed" Litecoin marketcap. For those unaware, they really didn't pass Litecoin at all. The only thing they did was release a bunch of coins onto the network and changed the supply available. And since marketcap is calculated by price X supply, it shot up in one day (straight vertical line). Additional irony of this is that I dont think these tokens are in circulation, I think they are held by one whale. Therefore in essence nothing really changed except for the market manipulation that ripple did.


With that all said, this doesnt pass the smell test. Pretty sure this is more market manipulation to get "buy in".

[hypostatization]

3. If ripple tokens rise in value, how does this affect transaction cost?

This doesn't. Opencoin, the company behind Ripple, basically a central bank behind the Ripple currency because they premined all of the Ripple tokens that are used to pay for transaction fees on the Ripple network. They consciously control the token fund and will never ever dump tokens because this would drag XRP price down.

Dude, you are not even trying here. Ripple is not a mined coin. It cannot be premined. XRP were created by the founders and given to Ripple Labs. XRP are used for transaction fees (for security), ledger entries (such as trust lines), as a bridge currency (for cross-currency payment and orderbook bridging), funding operations, growing the community, and incenting partners to join the network. Google is your friend.

All of the source code is publicly available. If you are threatened by Ripple, just create a fork.

[DrGrid]

can someone briefly explain to me why ripple has shot up?

There is only the pump.

[TheMage]

3. If ripple tokens rise in value, how does this affect transaction cost?

This doesn't. Opencoin, the company behind Ripple, basically a central bank behind the Ripple currency because they premined all of the Ripple tokens that are used to pay for transaction fees on the Ripple network. They consciously control the token fund and will never ever dump tokens because this would drag XRP price down.

Dude, you are not even trying here. Ripple is not a mined coin. It cannot be premined. XRP were created by the founders and given to Ripple Labs. XRP are used for transaction fees (for security), ledger entries (such as trust lines), as a bridge currency (for cross-currency payment and orderbook bridging), funding operations, growing the community, and incenting partners to join the network. Google is your friend.

All of the source code is publicly available. If you are threatened by Ripple, just create a fork.

Why did you not address my post?

[TheMage]

So just as an FYI to the new people here wondering why ripple is the second listed on coinmarketcap.





Man must be nice to create $100 million literally out of thin air 

[e-coinomist]

heyhey  now that is news, thank you for explaining. it is indeed easier to create a huuge marketcap out of thin air. they did not even spend money for ink and paper or a press

So just as an FYI to the new people here wondering why ripple is the second listed on coinmarketcap.





Man must be nice to create $100 million literally out of thin air 

[Spoetnik]

@OP = Why would you care ?

[Palmdetroit]

So just as an FYI to the new people here wondering why ripple is the second listed on coinmarketcap.





Man must be nice to create $100 million literally out of thin air 

Nothing compared to  governments who print Billions a day out of thin air.

[Foerster]

Did they just "release" another 15 Million worth of their tokens?

Also how exactly to they release them in a way that is has no influence on price?
I already wondered about this on August 25, when their market cap somehow increased from barely 40 to 140 million USD. How does this work?