Conspiracy Alert! - Is Ripple destined to be the 2850 coin?
I hate conspiracies; they are rarely EVER true. I hate rumors (they jack up my channels). But I do want to point out something that probably will fall into both of those categories... and for that I apologize and emphasize that I have NO idea if this is true. That being said, this is too interesting not to at least consider.
0.00002850 seems to be some sort of magic number for Ripple. For nearly a month; all activity has gravitated towards that number. Buy why? Well here are a couple of theories, not of which are founded yet though:
1) It is well known and well advertised that Ripple labs holds MASSIVE amounts of Ripple in private reserve. It is also well known that they make some of that available to their clients; which is the backbone of their system. Rumor has it (this is the rumor piece) that their clients have 'Promised' to use Ripple for the transactional service and not to sell or make their Ripple available to the market. Which makes sense; without the Ripple, there is no service and no service then they can't actually do anything. But imagine your a client and see that the Ripple you have bought from Ripple Labs (at some undisclosed price) is sky rocketing on the open market. The carrot has been hung... so now what.
2) I wish I could find it; but there was a tweet not to long ago, by someone that linked to a Ripple wallet that seemed to inflate and deflate while opposing the rise and fall of the price. Like, almost earily close. Is Ripple acting like a 'Federal Reserve' and keeping price in check? I don't know.
Either way; there is some sort of attraction to 2850 that is pretty in-explicable at this point, since it doesn't happen by means of any standard analysis.
So here is my thoughts on how to handle Ripple. Back out and watch for another month. Don't panic if it pumps (pumps always come back). Just chill. We need to watch this trend and see if it always gravitates to 2850. If it DOES; then we have a new trading model... or, cause to just walk away. Open market, is not open market if it is being controlled to keep clients in the game.
0.00002850 seems to be some sort of magic number for Ripple. For nearly a month; all activity has gravitated towards that number. Buy why? Well here are a couple of theories, not of which are founded yet though:
1) It is well known and well advertised that Ripple labs holds MASSIVE amounts of Ripple in private reserve. It is also well known that they make some of that available to their clients; which is the backbone of their system. Rumor has it (this is the rumor piece) that their clients have 'Promised' to use Ripple for the transactional service and not to sell or make their Ripple available to the market. Which makes sense; without the Ripple, there is no service and no service then they can't actually do anything. But imagine your a client and see that the Ripple you have bought from Ripple Labs (at some undisclosed price) is sky rocketing on the open market. The carrot has been hung... so now what.
2) I wish I could find it; but there was a tweet not to long ago, by someone that linked to a Ripple wallet that seemed to inflate and deflate while opposing the rise and fall of the price. Like, almost earily close. Is Ripple acting like a 'Federal Reserve' and keeping price in check? I don't know.
Either way; there is some sort of attraction to 2850 that is pretty in-explicable at this point, since it doesn't happen by means of any standard analysis.
So here is my thoughts on how to handle Ripple. Back out and watch for another month. Don't panic if it pumps (pumps always come back). Just chill. We need to watch this trend and see if it always gravitates to 2850. If it DOES; then we have a new trading model... or, cause to just walk away. Open market, is not open market if it is being controlled to keep clients in the game.