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When using editable dependencies you have to define a tag or commit-hash.
Following your example:
-e git+https://github.com/merlinares/django-registration.git@3.1#egg=django-registration
or
-e git+https://github.com/merlinares/django-registration.git@40fee813ca444236da6d66f516b869fd8ebbe9cd#egg=django-registration
Source:stackexchange.com