Price going up Last 24 hours, why?

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Price going up Last 24 hours, why?

Postby anelce91 » Tue Dec 16, 2014 4:22 pm

Hei guys,

From yesterday ripple is flying. Whats happening? Some big news ?
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Re: Price going up Last 24 hours, why?

Postby JohnLaw » Tue Dec 16, 2014 5:44 pm

anelce91 wrote:Hei guys,
From yesterday ripple is flying. Whats happening? Some big news ?


I haven't noticed such "big"news. ahbritto noticed this article from Dec 13th http://dealbook.nytimes.com/2014/12/13/small-bank-in-kansas-is-a-financial-testing-ground/?_r=2 Maybe that sparked some interest from "outside", I can't tell you. It would surprise me, but okay.

My take would be: gradually, just gradually, the Ripple protocol is now getting traction. That may go with sudden up-swings, but just down-swings just the like. Oh yes, I do like these rising prices, let it go to $1.00/XRP please, but I also know the crypto currency markets tend to fluctuate like hell. One day you're looking at a decent amount in USD, next day it is halved.

One interesting thought might be this: would a new financial institution be buying open market? And -only thereafter!- be announcing it would be entering the Ripple protocol? Well, it's possible, although I'd expect them to be acquiring the majority of their XRP through RippleLabs in the first place. Should any financial institution be doing open markte purchases, that would be big news - but I don't expect such a sceanario (yet).
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Re: Price going up Last 24 hours, why?

Postby tulo » Tue Dec 16, 2014 10:59 pm

Speculation?
Companies buying XRP from market instead of directly from RL?
Bitcoiners converted to Ripple?
Who knows...
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Re: Price going up Last 24 hours, why?

Postby magOO » Wed Dec 17, 2014 4:37 pm

Like mentioned in an other thread a top seller sold XRP for 500k USD in the last 3 days. He has some little buys also. These sporadic buying actions indicate an automated trading account that is liquidating his XRPs. For me it looks like a continuous buyer (only buying xrp) started to raise the price over days. A few days later speculators started to buy in (they have buys and sells in history), because the price raised and a rally started.

One bad news and the bubble bursts.
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