ripple shot up.. why?

[TheMage]

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?

WOW!


They are seriously manipulating the market getting noobs to invest in their snake oil.


BTW they can release the coins without affecting their price most likely because they gave it to "private investors". Ergo the market never really see them and these numbers (aka market cap) are meaningless for ripple.


They need to be flagged on all major marketcap websites.

[benthach]

scam

[hypostatization]

For those circulating FUD about the charts, I have responded here.

[TaunSew]

Definitely another scam trick.  Not as funny as when Ripple changed their available capitalization because BitsharesX temporarily overtook them.   

[hypostatization]

For those circulating FUD about the charts, I have responded here.

just had a flick through it.. so its the total number of coins "in circulation" that has increased and not the value per coin? the marketcap has seen an increase of around 100% over the last month or so, how much of that is down to redistribution and how much is down to increase in value per coin?

All of the market cap spikes are due to previously un-distributed coins entering circulation.

XRP price itself has risen due to exchange activity. (where it is tracked/calculated)

I have seen a steady flow of good news, and see this rise so far as mostly a recovery from Jed cratering the price. If you look back to May 21 on the charts, you will see the impact of him announcing he would begin selling his XRP. Ripple Labs has since worked out a deal with Jed. Despite a steady stream of good news, such as bank and card integrations, the price has been slow to react.

It is less exciting to see this current rise as a recovery and delayed response to good news... but it lines up. XRP has been depressed, and Ripple is doing enormously well overall.

[achimsmile]

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".

+1

[Mickeyb]

I don't know but I am staying away from them!!

[hypostatization]

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".

+1

Addressed here

[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.

so just a long pump then?

Exactly, Ripple Labs own majority of the XRP.

[Sukrim]

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)

These are good questions and don't seem to have been answered so far...

1. You can see balances of every account on Ripple (XRP + IOUs) if you for example query a full ledger and look at the contents, I don't think there are pages like http://bitcoinrichlist.com/ out there yet, they should not be too hard to set up though.

2. No, freezing is something the issuer of an asset can do (e.g. Bitstamp can freeze BTC or USD they have issued on Ripple) - if Ripple Labs issued assets (which they don't) they could freeze them of course, they can't freeze assets issued by someone else. XRP are not issued by anyone and thus cannot be frozen. Also you can set a (permanent!) flag in your account that prevents you from ever freezing any of your assets that you issue(d) with that account.

3. They get slightly more expensive. Currently one transaction costs about 0.12 XRP and 1 XRP costs about 1 cent, so while there is a cost, a Bitcoin transactions costs FAR more.

4. Stellar is a fork of Ripple which is currently struggling a bit to find their own way of doing things, Counterparty runs on top of Bitcoin which makes it inherently slow, NXT and Bitshares have an enthusiastic community but not yet a lot of use cases that I've seen (in comparison: you can get a Ripple-enabled credit card, you can send SEPA payments, Bitcoin transactions and US wires from within Ripple...). The biggest difference probably is that Ripple Labs has not only developers but also a business development team.

4. (again) - Consensus, the whitepaper was already linked: https://ripple.com/consensus-whitepaper/

[marcoman22]

Isn't it simply demand & supply rule ? People are interested in ripple that is why it shot up or is it something else ?

[Sukrim]

Isn't it simply demand & supply rule ? People are interested in ripple that is why it shot up or is it something else ?

The question is if the demand for XRP is because people buying it want to actually use it or if it just shot up because someone (or a group of people) bought up some in the hopes that the market moves upwards with them ("I don't know why it moves up, but there must be a reason for it that I just don't know yet! Buy, buy, buy!") hoping to sell as soon as the top is reached.

This is known as "pump and dump" (pump = buy stuff + move market up, dump = sell whatever you've bought at a profit). There are some risks with that strategy of course (if the market doesn't move with you, you'll end up with stuff you don't want and have to sell probably at a loss) and it is hard to tell at the time a market moves if it moves out of speculation, information or a mixture thereof.

So yes, the price is set by supply and demand. The question is, where that demand comes from: Someone who actually wants to own XRP or someone who just thinks that it's possible to move the market up to make a profit. The price would go up in either case, in the first case it might stay up, in the latter it would crash down to what people who actually want to own XRP think they're worth.

[kutaka]

Are we already in the dump phase?

Nice money could be done on that p'n'd, although too risky for me. I would stay away from Ripple even if I had information about incoming pump, entire coin is too fishy.

[bellicose]

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

Take a look at cryptsy.com.

Looks like this markets was appeared only a couple of weeks ago.
Year ago in this place was DOGE, this was around 25% of DOGE's power at that time, methinks. Thereafter, cryptsy decline DOGE, now everything is bad.

[M28MmickT]

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

Because the dirty little perverts who control most of the coin keep pumping

[Sukrim]

So I hold 100% of "Sukrimcoins" - how does that mean I can INCREASE the price of them when I can only SELL them?
Some people don't seem to understand basic markets...

[achimsmile]

So I hold 100% of "Sukrimcoins" - how does that mean I can INCREASE the price of them when I can only SELL them?
Some people don't seem to understand basic markets...

Problem is, ripple labs don't hold 100% of xrp, that means they could sell and buy

(I'm not saying that they are)

[Sukrim]

If they did, there would be public cryptographically signed proof at least for trades on Ripple itself. Less speculation, more analysis please! Which accounts that bought heavily do you suspect are owned by Ripple Labs or "heavy pumpers"?

[JackRipper]

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

The current price is the result of a classic P&D. It'll be back to normal soon.

[TrianglePythagoras]

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".

Exactly.