Cryptomarket Price manipulation - on the example of Ripple's XRP Token
Today I want to talk to you about the ongoing price manipulations in our cryptosphere, which are executed by so called whales.
This picture is taken from the kraken.com Orderbook from today 12:30:
As you can see someone placed two orders with 400,000 Tokens each to set a sell and buy wall.
It would take 400,000 * $0.16282600 = $65,310.40 worth of buying power to get through this.
Viceversa someone would need to sell 40,000 * $0.16000099 = $64,000.00 worth of XRP to push the price lower.
This sets a band for trading as long as the orders are up and there are now major positive or negative news for Ripple or XRP.
What do you think about those type of manipulations?
The liquidity is still so low in the crypto scence, that such manipulations can be done by every whale... that's why I stay away from tading until we reach way higher levels of market capitalization!
Good catch and I guess someone just wants to make sure, that he/she can accumalute more Ripple in this price range (:
Yeah i agree with you. The volume is still quite low but in my opinion sometimes there are some juicy spots for daytrading. I always have a little spare money on some exchanges for daytrading to accumulate more BTC and Antshares/NEO.
what are you thought about Ripple in the long term (5-10 years)?
I guess that banks will use their own private chain and won't invest a dime into a token like Ripple... But let's see what the future will bring (:
.... Cryptomarket Price manipulation? Another conspiracy theory ;-)
No conspiracy here, just observation ;)
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