Crypto is still the wild west, even with the adoption that has happened so far; here we can see a huge wash trade unfolding in Ripple. To copy from stockcharts, here are Richard D. Wyckoff's remarks on market operators (the composite man) and wash trading:
-The Composite Man carefully plans, executes, and concludes his campaigns.
-The Composite Man attracts the public to buy a stock in which he has already accumulated a sizeable line of shares by making many transactions involving a large number of shares, in effect advertising his stock by creating the appearance of a “broad market.”
-One must study individual stock charts with the purpose of judging the behavior of the stock and the motives of those large operators who dominate it.
-With study and practice, one can acquire the ability to interpret the motives behind the action that a chart portrays. ----Wyckoff and his associates believed that if one could understand the market behavior of the Composite Man, one could identify many trading and investment opportunities early enough to profit from them.
If you are looking to make large returns on the XRPUSD or XRPBTC pair right now, keep a tight stop-loss and consider the (lack of) forces behind this sudden momentum.
It is interesting to see how the XRPUSD price has been kept in a very tight range for so many months and over the last few hours pushed to a breakout. With analysis of volume and price action I believe it may be possible to measure if something is being manipulated. Which could be valuable information if you would like to join such a force. If anyone is interested in working on a project regarding this please message me.
-The Composite Man carefully plans, executes, and concludes his campaigns.
-The Composite Man attracts the public to buy a stock in which he has already accumulated a sizeable line of shares by making many transactions involving a large number of shares, in effect advertising his stock by creating the appearance of a “broad market.”
-One must study individual stock charts with the purpose of judging the behavior of the stock and the motives of those large operators who dominate it.
-With study and practice, one can acquire the ability to interpret the motives behind the action that a chart portrays. ----Wyckoff and his associates believed that if one could understand the market behavior of the Composite Man, one could identify many trading and investment opportunities early enough to profit from them.
If you are looking to make large returns on the XRPUSD or XRPBTC pair right now, keep a tight stop-loss and consider the (lack of) forces behind this sudden momentum.
It is interesting to see how the XRPUSD price has been kept in a very tight range for so many months and over the last few hours pushed to a breakout. With analysis of volume and price action I believe it may be possible to measure if something is being manipulated. Which could be valuable information if you would like to join such a force. If anyone is interested in working on a project regarding this please message me.