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    Home Unlabelled Ripple Daily Ripple/XRP Discussion Thread 12/07/20 [Join Our Discord] invite link: discord.gg/7Bv2rYf

    Ripple Daily Ripple/XRP Discussion Thread 12/07/20 [Join Our Discord] invite link: discord.gg/7Bv2rYf

    December 06, 2020

    Ripple Daily Ripple/XRP Discussion Thread 12/07/20 [Join Our Discord] invite link: discord.gg/7Bv2rYf

    Daily Ripple/XRP Discussion Thread 12/07/20 [Join Our Discord] invite link: discord.gg/7Bv2rYf

    Posted: 06 Dec 2020 08:04 PM PST

    Hello! It's Monday. Welcome to our daily discussion thread.

    You can discuss anything related to Ripple and XRP here.

    Before posting, read the r/Ripple rules on the sidebar and also check out the thread containing helpful links: https://redd.it/7l94ng

    If you see any rule-breaking content, please report by contacting the moderator team modmail

    We now have an official discord channel dedicated to r/Ripple: discord.gg/7Bv2rYf

    This channel is also used for r/XRP. While there are rules to follow, it will be a more relaxed environment where

    you can discuss anything related to Ripple and XRP. The channel is not affiliated with Ripple the company.

    submitted by /u/AutoModerator
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    Former Goldman Sachs Hedge Fund Chief Says He's Warming to XRP, Analyzing Potential of Third-Largest Cryptocurrency

    Posted: 06 Dec 2020 03:51 PM PST

    Novatti partners with Ripple for global blockchain payments network

    Posted: 06 Dec 2020 07:46 PM PST

    Significant Increase in Jed McCaleb's sales and Why This is Great News

    Posted: 06 Dec 2020 08:55 AM PST

    tl;dr: Increasing XRP volumes = Increased Jed sales = Shorter time to significantly deplete Jed's holdings = good

    Reference: https://twitter.com/LeoHadjiloizou/status/1335599198721499136

    I want to preface this with the fact that this is not a discussion aimed at the morality or ethics of Jed's holdings/dumping, whether he deserves to reap from XRP, or any of that. Those are for another topic. What I am focusing here on is the significantly increased amount of Jed's XRP sales and the significant positives that can come out of this. Second, long-term XRP holders will be able to resonate better with my post more so than the new investors, but I truly believe it's good for the entire ecosystem across the board.

    If you checked the link above, it shows that this week, Jed will be able to sell up to 29.5 million XRP per day, starting today, or about 207 million XRP. This is a significant increase from Jed's sales last week where he averaged about 9 million XRP sold per day (which was already a significant increase from the weeks prior). As per his legal agreement with Ripple, Jed is limited to selling 1.5% of the daily XRP volume, and with the significant increase in XRP volume in the recent weeks, it's no surprise that his sales have increased to reflect that. 29.5 million XRP (based on the current XRP price at the time of posting - $0.60), is about $17.7 million. Jed is going to get paid roughly that much every day this week from his automated sales.

    Clearly, there is some unknown flaw in Ripple's calculation, as it seems the daily average is calculated for the weeks prior. Meaning, this increased 1.5% volume is most likely from when XRP rallied hard a few weeks ago, and not from last week's volume.

    First thoughts are; "oh man that sucks! the selling pressure! RIP XRP!". And I don't blame those who do. Thanks to all the FUD and several years of a bear market, the XRP community has been conditioned to be beaten down and generally gaining a pessimistic view on things. But let me tell you why this is potentially one of the best news for XRP.

    As it stands, Jed still has about 3.67 Billion XRP. If he is able to sell roughly 200million XRP per week for the foreseeable future, the time it will take to completely empty Jed's funds will happen sooner than later. For reference, last year it would've taken Jed 300 days to sell 270 million XRP, compared to now which he can do in a week. Basic math (and correct me if I'm wrong), but at this rate, Jed should be able to sell about 3 Billion XRP in about 15 weeks, or just shy of 4 months. This would put Jed's holdings closer to 500million XRP total, which would alleviate a significant amount of worry for those actually worried about its impact long-term.

    So let's look at the actual negatives because everything isn't exactly peachy: The market will have to absorb his sales if XRP is going to, at the very least, stick to the 50-65 cent range. This could, at best, suppress XRP's ability to surge to higher prices in the short term, if buyers are not present with a lack of buying incentive. I can't predict what will happen, but I will say that at worst, I feel XRP may only hit the bottom (or even slightly below) of the range I mentioned above, even with the sales.

    A couple of things to note:

    • It is likely that Jed will not be able to sell this much every week. As a matter of fact, I guarantee that next week his sales will be significantly lower.
    • Even if Jed's sales amount drops, with the recent rise in volume, I still believe we would see higher than average XRP sales from Jed.
    • At this rate, within the next 6-12 months (given we see multiple volume explosions again) Jed should be able to sell the majority of his remaining XRP holdings.
    • Something that many seem to overlook is, BTC & ETH miners generate more sell pressure in their respective markets than Jed's sales ever has for XRP.

    Yes, it may suck in the short term, especially those just now getting into XRP, but who's to say what may happen exactly? Maybe we will still see a slow but steady increase in XRP price from here, significant sales and all. But for 2021 to potentially provide a means to finally be rid of the dark cloud looming over XRP investors' heads that is Jed McCaleb's holdings, this should certainly be great news.

    XRP investors have been here for years, what's another 6-12 months? With upcoming regulatory clarity, increasing XRP use-case awareness, and steady increase in volume, and now with potentially reducing Jed's hold on XRP once and for all, I think 2021 is going to be a great year for XRP. And if not, hey....there's always Spark. :)

    If you got this far, thanks for the read. Would love to hear your thoughts.

    submitted by /u/Chop13
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    XRP: Understanding the Asset and Clearing Misconceptions | Real Vision

    Posted: 06 Dec 2020 09:37 PM PST

    Update on ODL volumes

    Posted: 06 Dec 2020 06:27 AM PST

    How do I move XRP from a paper wallet?

    Posted: 06 Dec 2020 09:41 PM PST

    I'm absolutely stumped how to move XRP from my paper wallet. I'm looking to do so before the Flare tokens drop. I created a Gatehub Wallet account thinking I could enter my private key as a way to import XRP but couldn't seem to add to the Gatehub wallet via a paper wallet address. I've seen the github project that uses java to move XRP but its really out of date and I figure there has to be an updated and safe way to move XRP.

    ​

    Can anyone help me?

    submitted by /u/Atlantisrisesagain
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    Coinbase to Support Spark Token Airdrop to XRP Holders

    Posted: 05 Dec 2020 11:27 PM PST

    Sent XRP to coinbase with a 4 digit tag

    Posted: 06 Dec 2020 06:10 PM PST

    I sent XRP from my ledger to CB pro and when I copied the tag to the clipboard, it only pasted a 4 digit tag. I opened a support ticket with the transaction hash and the destination I put in. I see it arrived to coinbase, just not to me. How screwed am I?

    submitted by /u/Randyreddit11
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    Coinbase Wallet (custodial) to XUMM

    Posted: 06 Dec 2020 07:34 AM PST

    Hello,

    I've searched this but can't find anything on it. If it has been asked, please redirect and accept my apologies.

    I have a XRP address on coinbase wallet (the custodial wallet, not a coinbase account). When I import the mnemonic (12 word) to XUMM, I get a different address. Could it be coinbase wallet uses a different derivation path?

    Does anyone know how to import the XRP account from coinbase wallet to XUMM?

    Many thanks!

    submitted by /u/crypt0c4t
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    Recover Gatehub wallet? Password apparantlty not working

    Posted: 06 Dec 2020 11:58 AM PST

    Well, I honestly admit I never thought, or at least hoped to write a post such as this one. Because of the nearing airdrop, I figured I'd transfer the small amount of XRP from my gatehub wallet (which is badgering me to KYC for a while now) to XUMM.

    However, for some strange reason, my account is not accessible with my regular password (no signs of any hack). I feel like a complete dunce, but I have written down the 6 seed words, but have not been succesful at all at finding out where the heck I can "use those" to recover my wallet.

    Apparantly, resetting my password is not happening either, as I, for some strange reason, have no idea where I placed my recovery key. Now while I admit not being the most technical crypto user, I have no idea how I could have fumbled this one this badly.

    Would anyone here perhaps know how to recoup either my password or use those 6 words to activate a new wallet somewhere?

    I'm sorry for the incredibly ignorant question, this does confront me with the fact that I hardly ever checked up on that small ripple stash.

    submitted by /u/Cryptolosopher
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    Help with Xumm

    Posted: 06 Dec 2020 11:52 AM PST

    I just recently moved from ToastWallet to Xumm (I had no idea ToastWallet was ended and just happened to see a headline about Spark Airdrop so made the move very late). All went well and then I took a week to get around to getting set up to use the Spark Airdrop tool here: https://flare.wietse.com/?step=8babbd12e8a5cf5f106c8c5ed65d5ad2#20

    When I started using it, I ran into a problem: I scanned the QR code, hit Accept, and then Xumm asked me for a password that somehow, I don't have. I wrote everything down that I created when I transferred from Toast to Xumm, but none of it is working. I've tried changing the password, but of course, without the old one, I can't do that. So, ok, then I want to recover. I went to:

    https://support.xumm.app/en/articles/4360490-recovering-from-lost-passphrase and read through it in prep to actually do it. But Step 7 says, "Input the secret numbers from the original account using the '+/-' buttons to change the number and the '>' to move to the next number. "

    WTF is my secret number and where do I find that?!?!?!?!????!???!?????! I can't find one clear reference on the XUMM help site, or elsewhere online that even tells me what the format of that should look like? I don't think it's the passcode I use to sign into the app as that's just 6 digits and that seems way to easy. Is it the number i can get out of ToastWallet (still installed and working) that starts with "ss" when I click "show secret" on my XRP wallet there (that's a very long string of numbers and letters)? Somewhere else? Or is there some other way to retrieve and re-set the password that Xumm wants?

    Sorry for what is likely a really dumb, newb question but the theory of HODL for XRP makes sense to me. However, it also means I need to not look at much having to do with it or I get obsessed with price. So I am obviously out of the loop. Thank you for the help!

    submitted by /u/cmonster42
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    Noob question - How to get spark tokens?

    Posted: 06 Dec 2020 07:06 AM PST

    Hello guys, I got half of my XRP in my Revolut account and the other half of it in the old ripple desktop wallet. What's my best and easiest option to get the Spark token thing?

    submitted by /u/CrushingBlowBG
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