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Was This ALL PLANNED For Ripple XRP? (Clock Is Ticking For XRP) BIG XRP NEWS | XRP Price - YouTube
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Hi, welcome back to make money
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So today we'll be looking at the price
of XRP and the circumstances surrounding it.
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So Ripple is a decentralized crypto like no
other, and thus it's not so surprising what
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unusual things happen in its administration.
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The queen has long been a
unique type of crypto, though decentralized.
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It functions to be the activities
of both centralized applications and decentralized,
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decentralized applications as well.
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How? Well, the crypto is an integral part
of a whole system that handles complex payment
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actions between financial institutions from one part
of the world to the other.
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And this cross-border platform is a working
platform by Ripple Labs who deploy the
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cryptocurrency in handling those transactions in
a faster and cheaper way.
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And this is another issue that is
not available like any other cross-border transaction
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facilitating platform, including sweat the bank
system, which is technically the one
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being put to use by most banks across the
world, as well as high finance platforms such
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as MoneyGram, et cetera.
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Now the company set its sights on the
opportunity afforded it by the daily execution of
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international monetary transactions of some
of the world's biggest banks.
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And those include the central banks, the
microfinance banks, as well as other payment
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platforms which are used for remittances.
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So example, prices greatest peak so far is
up there at three point eighty three dollars,
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which it attained early back in 2018.
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Now, it's not reached 50 per cent of that
price, with a price only hitting as high as
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point seven of a dollar in the aftermath
of the covid-19 lock down restrictions and that
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are also saw Bitcoin and a
host of other all coins rally.
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XRP didn't join that rally
until later in the year.
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It was still a pretty good
time to see the critser rise.
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And the price surged towards point five five
in November before hitting as high as point
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seven dollars.
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Now, this was before the SEC bore down
on the activities of XRP as multiple forebodings
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and warnings were criticized in the
crypto and providing depressing information to
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suggest how the coin could survive the fall
now its subsequent fall when it did come
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back. Many people nodding their heads,
saying, I told you so.
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Now, these comments were proven to be hearsay
when the price soared just last week to
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point three, three of the dollar.
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Now, this was unexpected as it was majorly
a rush of people dumping the crypto and
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exchanges in the coin as a result.
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Now, the worst possible thing that can happen to
a crypto was deemed to be a total
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exclusion by the crypto exchanges.
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Now, you need to know this fact that
the lawsuit single handedly dealt damage to the
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crypto price trend as it did.
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There was a pretty long wait to see
which exchanges would then delisted crypto and which
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ones would choose to stick with it.
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Now, it wasn't long before two smaller exchanges
dropped the buck on XRP price while
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Coinbase made a declaration about how they would handle
the crypto in a bid to stay on
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the safe side pending the
result of the lawsuit.
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Now, they then later delisted it while leaving
its holders the grace, at least to sell
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off the holdings of the crypto.
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Now Greyscale, a major investor in millions of
XRP, also happened to drop the crypto,
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whilst a host of other
exchanges then followed suit.
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Now a unique position has now developed because of
this for the crypto, as it is bound to
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become more difficult to buy.
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And this is a potential reason
for the coin to rise.
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It's basic economics.
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And of course, in economics, scarcity is known
to be the biggest factor that makes
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currency valuable.
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Now, while Bitcoin was pretty easy to mine,
its price was never truly anything to write
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home about. The more difficult it became to
gain bitcoins, the higher, of course, its
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price, and it shows a high demand for crypto.
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Now, this could happen to XRP.
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Also, even while this lawsuits ongoing crypto
exchanges such as GetUp have resigned to
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fate, yet claiming the crypto still has a
huge window of opportunity to rise above the
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current struggles. Now, the UK based
Cryptocurrency Gateway Service has decided to
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continue listing XRP.
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The gay hub will not delist XRP unless
a decision from the US Securities and Exchange
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Commission makes it necessary to do so.
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Now it advises that Gay Limited will
continue listing XRP until the SEC's complaint
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against RIPPLE has reached a final decision.
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Entering the XRP is properly classified as a
security or until receive a cease and desist
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notice from the now.
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They have said that the decision to keep
XRP on its platform follows some careful review
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of the SEC's complaint against RIPPLE, which claimed
that the firm sold XRP as unlicensed
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security. Now Jacob expressed optimism about the
future of XRP, claiming that the company
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is confident the XRP is not a security.
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So the. Doesn't believe XRP is a security
under the prevailing howay test, as it's called
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in the US, and an example primarily as a utility
token whose value is based on its use in
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payments and foreign exchange now.
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Nor have we personally witnessed any improper market
conduct by RIPPLE Labs or its senior
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officers, and that's pretty significant.
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The firm went on to say that RIPPLE
should be subject to appropriate enforcement actions
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if US authorities prove that RIPPLE
and related executives have defrauded investors.
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But that is a far cry from an action
brought by the SEC classifying XRP as a security
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gate upset, emphasising that this action
potentially has catastrophic consequences for
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investors who themselves did nothing wrong.
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So in a publication, the UK Treasury considers
considers XRP an exchange token rather than
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a security which further cements its position
in other countries crypto industries as
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against the measures being taken
against it in the US.
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So currently the crypto market is posing a
recovery here at press time after the slump
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that we've had over the last two days.
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And that slump saw Bitcoin retreat from an
all time high of forty one thousand nine
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hundred sixty two dollars.
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Wow. To near the 30000 level mark.
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Now, Bitcoin has recovered just over four percent
in the last 24 hours, leading to 36000,
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280, and with a market dominance
of 68 and a half percent.
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Now etherial, the world's second largest crypto
is up four point to nine percent.
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And that's at the just
over 1001 140 dollar mark.
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Yet the one stealing the show among the cap
cryptos is, you guessed it, XRP, which is
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trading above the crucial point, three
of of a dollar mark.
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Now, XRP has added just over 10 percent in the
last 24 hours and just over 31 per cent
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over the last seven days.
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And this surge comes as RIPPLE Labs
Inc, the Silicon Valley company behind XRP.
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They announced that former Amazon and vice
president VP of Delivery Experience Deborah
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Vadum has joined the payments network
as a senior VP of engineering.
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Big news. So just as the Internet was
the driving force behind many of today's leading
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companies, Blockin has the potential to
fundamentally change our current financial system
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and bring billions of people into the
financial ecosystem and, of course, accelerate
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financial inclusion globally.
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And then the comments passed by the former
employee of Amazon following the decision to
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join RIPPLE. Interesting news.
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So the recent XRP price rally is
predominantly carried by the Asian exchanges where
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finance and that's led by processing over thirty
two point seven percent of the traded
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volume, worth nearly 337 million dollars.
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That's a third of a trillion dollars.
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Abigroup on a third of a billion dollars,
followed by BTC with fourteen point seven
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percent worth 145 million and B eleven and
a half percent worth one hundred and seventy
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dollars million. Now the fourth largest crypto
recorded over one billion dollars in
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trading volume in the last 24 hours.
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Wow. Now most the US based exchanges will
hold takes up trading by January the fifteenth.
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However, exchanges outside the US don't seem to
be much bothered about the lawsuit and
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have extended support to Ripple and Xabi.
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Now, many exchanges even saw XRP taking the
top spot in terms of daily traded volume
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above Bitcoin, which is currently selling
at a premium on many exchanges.
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Now, South Korea is one of the key markets
for Apple, and so XRP is fairly popular owing
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to top remittance services such as S.B
1000 via Bali being replaced partners.
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This is the key reason behind high XRP trading
volumes on the Korean exchanges, even at a
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time when many over in the US believe
the XRP price would crash into oblivion.
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Now the company said that all of the banks
can use Ripple's XRP ladja the example for
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issuing stable coins.
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Now, as RIPPLE said, Bill for payments example,
can also be used to support the issuance
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of stable coins with a unique,
fungible token functionality called issued currencies.
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Now issued currencies is designed to be
the ideal stable coin platform, providing simple
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but rich management functionality
for the issuer.
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That makes it easy to create issue and
of course manage any asset, including stable
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coins. Now, recent predictions show the stabilizing
pattern of XRP pricing the charts.
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And here, as you can see in these charts
now, XRP USD is in a situation where it
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marginally shows some reversal signs from
the heady, bearish downside volatility.
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Now, in this case, XRP USD has
developed some interesting formations that can determine
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the. Movements in the structure when the
right price actions show up here.
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Therefore, it's from high importance that
exp USD confirms to it.
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And when this happens with the example of
the US completing this potential bull flag, it
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will indicate the testing
of remaining resistance.
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Resistance is higher in the structure, firstly
determined within the point three three
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when examplar USD reaches out these levels.
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And at that point it has to be elevated.
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How it moves on further from there.
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And if they can be an immediate
continuation or firstly a reversal, visiting lower
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levels, which is not unlikely here.
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So this chart reflects the short term optimism
surrounding the XRP price, as is expected
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to break the resistance at its current price
levels and surge high towards the point 341.
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So the point 355 range.
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Now, investors who brought the coin at its previous
low range of point 22 to point twenty
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four have benefited from its current consolidation
here at the point three mark.
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Now it's advisable to hold out on the coin
for future breaks on a potential surging run
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towards much higher levels, as
indicated here on this chart.
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And this is quite realistic.
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So this chart shows the potential, for example,
to hit the resistance level at the point
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for 2.5 and in the
coming days, assuming Bitcoin pumps.
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Now, analysts still expect to see a pullback
in examplar at some point in the coming
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weeks to 10 days due to a
major pullback over there of Bitcoin.
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But it might just be speculative.
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Now, a wild ride is ahead of us
and potential for a swing trade potential effects.
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Arpit does hit the high trendline and Bitcoin looks
to have topped out by the 16th or the
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17th. So they it do.
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Stay tuned for our next video.
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Look forward to seeing you next time.
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