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The Freaky Truth About A $589 XRP | BitBoy Crypto - YouTube
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the settlement is not a matter of if
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it's only a matter of when and it will
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be relatively soon um so you know i'm
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lined up my portfolio for this
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settlement once this happens the
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suppression is gone we are going to see
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this price go through the roof and uh
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[Music]
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all right
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welcome back everybody to altcoin daily
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my name is austin here with aaron joined
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by the man the legend ben armstrong of
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bitboy crypto man how are you doing oh i
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am doing great today anytime uh the boys
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get together get to talk about some
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crypto it's a good time absolutely and
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we love being around on around the
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blockchain which i think your audience
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sees us on and we love having you on and
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would it be fair to say just to jump
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right in
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that you are the leader of the xrp army
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is that fair
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uh the supreme uh leader and master
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commander of the xrp army yes i have i
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have uh over the last year have uh
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definitely rolled into that
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yeah and you've been a believer
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definitely keeping your community
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updated would you just give us like for
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those who don't know xrp is a token
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that's meant to be used for cross-border
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payments with the banks ripple the
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company behind them is currently being
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sued by the sec would you just give us
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like a broad strokes rundown of where
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ripple is in that case right now
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yeah so basically just the the 30 000
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you know foot view of what's going on
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there is the company ripple labs which
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is behind the xrp token
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is accused of selling securities and
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that security
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is the xrp token a sale that i believe
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started in 2013.
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um and you know there's a lot of
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discrepancy over you know the level of
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centralization and and whether or not it
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truly was
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you know a security and and what are
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investors going to do today but the
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longer the short of it is that you know
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is xrp a security that's really what is
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at the heart of this argument and um
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right now we are in the midst of it
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seems like a large lull in this case to
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where for weeks it was like every day
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there was hot and heavy action of you
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know ripple was doing this the sec was
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doing this they were going back and
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forth the judge was ruling on this but
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it really is for the last few weeks
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things have really gotten quiet and you
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know to me i believe that is because the
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settlement you know i believe there is a
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settlement coming very soon so so to to
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paint the settlement here we've got
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three possibilities here for what could
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occur and i think only one of them is
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going to occur
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uh or even is actually a real
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possibility but number one
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xrp is or ripple is found guilty xrp is
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declared a security that is worst case
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scenario
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in that case uh you know ripple's in a
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lot of trouble brad garlinghouse and
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chris larson the founders co-founders
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are in a lot of trouble and then also
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like its potential that in the united
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states xrp is a token could get the
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death penalty meaning it could never be
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on exchange again internationally could
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still have some momentum but if the
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united states you know it declares it
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dead it's gonna be dead uh the second
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possibility is
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xrp is not a security ripple wins out
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right in a landslide they crush the sec
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the sec looks terrible they got egg on
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their face
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xrp gets relisted everywhere you know
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life goes on huggy dory
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the the
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the third possibility is what is going
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to happen which is what we've seen in
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almost all of the sec cases uh in the
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world of crypto and blockchain which is
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a settlement so that settlement
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um you know i believe what is coming is
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they're going to settle over
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uh marketing practices so they're going
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to slap ripple on the wrist
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with
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deceptive marketing practices regarding
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their token sale
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it's not going to be declared a security
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and then it's going to get relisted the
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sec gets the safe face by saying like
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well we gave you some infraction ripple
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labs comes out way ahead of you know way
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ahead because they're able to get
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relisted and then the token price is
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going to explode
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interesting interesting i guess my
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question for you more on a personal
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level is um have you bought more xrp or
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are you a hodler
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yeah for sure we have we now have um
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i don't know where the price is right
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now i mean i know where the price is
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right now it's a a dollar of five
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depending on where the price fluctuates
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here at bible crypto we do have
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um over a million dollars in xrp
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right now with the price dropping over
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the last couple of weeks uh it was up to
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about a dollar thirty we're at about 920
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000 worth of xrp we have 867
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868 000 tokens so so we we put our money
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where our mouth is here you know we we
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did cross over the million dollar
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threshold but it dropped back down
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um i had my first portfolio video i did
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which i believe was back in
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early may i think we had about 250 000
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xrp tokens and that really shows you
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where our belief is it's just since may
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since a crash we've been able to
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re-accumulate you know almost a million
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xrp tokens because i believe adamantly
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that when this case is over and listen
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all the things i talk about on my
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channel regarding ripple in this lawsuit
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timelines get fuzzy because there's a
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lot of moving parts
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but the settlement is not a matter of if
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it's only a matter of when and it will
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be relatively soon um so you know i'm
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lined up my portfolio for this
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settlement once this happens the
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suppression is gone we are going to see
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this price go through the roof and uh
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you know i definitely want to take
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advantage of that with my portfolio
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i could definitely see that
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do you think though let's say it does
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clear with the sec or they get the mile
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slap on the wrist like we've seen so
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many times before
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do you think that a major bank will
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announce the adoption of xrp token by
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the end of the year or in 2022 what are
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your thoughts on that uh that's not
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really important uh it is coming so the
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timeline to me is not super important so
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i i don't think that by the end of the
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year it's like if you know
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jp morgan says they're gonna use you
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know odl or uh ripple net that that's
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gonna make the price explode uh the next
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after the sec lawsuit the next explosion
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potential explosion point for uh xrp and
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now this could be
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explosion point from the bottom of a
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bear market or in the midst of a bear
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market so it doesn't mean it's gonna you
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know if it goes to 15
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by the end of the cycle if this next
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thing happens in the bear market that
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doesn't necessarily mean it's going to
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go above that price
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the public offering the ipo of ripple
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which is coming
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all they're waiting on is they're
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waiting on the sec lawsuit to get over
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with so then they can start rolling that
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out so that's really what people should
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be paying attention to beyond the sec
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lawsuit it is certainly not like which
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banks are going to be adopting it almost
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all the banks are going to be adopting
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it over the next i don't know four to
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eight years
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that it's not super important it happens
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in the next one to two years so i don't
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know what major domino's gonna fall we
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do have santander working with ripple uh
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we've got a lot of banks in the asian
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pacific region the apac region uh
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working there with ripple uh we've got
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banks in south korea and japan we have
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banks and um you know africa starting
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florida we've got middle eastern
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movement as well for ripple um i can't
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remember the name tanglo i think is a
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middle eastern company that's working
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with them now so this stuff is all going
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to happen in you know in time
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really what we're worried about with the
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sec lawsuit is like the timeliness of
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this bull run it needs to happen pretty
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soon
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speaking of that and final question
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before we pivot to price but you say
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like it's inevitable whether it's two
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years or four years or whatever that uh
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banks adopt xrp but does it concern you
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that we just saw moneygram partner with
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stellar lumens a competitor i mean banks
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have other options not necessarily um
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stellar lumens um
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i don't think this is what it was uh
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meant to be in the beginning by any
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stretch of imagination because judd
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mccaleb one of the slimiest guys in
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crypto but jed michaela but you know
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certainly had a different plan for what
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he wanted to do with stellar
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um but stellar is going to become
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basically a canary network for what is
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going to happen on the ripple blockchain
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so um
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watch for whatever move stellar is
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making watch for ripple
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fairly soon afterwards to make similar
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moves uh so you kind of look at stellar
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almost as a precursor especially when it
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comes to cbdc's like ukraine is talking
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about doing their cbdc on stellar uh
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watch for movement there kind of as a
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you know
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as a precursor like i said to things
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ripple will do in the future ripple's
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also talking to some places about cbdc's
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as well
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all right
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let's go to our final question and i do
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want to encourage everybody from the
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altcoin daily audience subscribe
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to bitboy crypto linked below one of my
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favorites in the space my question ben
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let's talk price
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any merit to the 589 xrp token price
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where did this prediction come from yeah
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uh well i this is very important as
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somebody better call pomp in for this
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one um
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just get no shade don't you i love that
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debate i loved it a lot of people liked
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it it was uh it was definitely very
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convincing one way or the other been on
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who you like but
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uh so the 589 dollar price it comes from
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a guy named bearable bull and this is a
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guy who's very popular in the xrp
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community there's a lot of it's funny
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like we have crypto influencers we also
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have xrp influencers and that's all they
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talk about is xrp and it's their
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specialty that they know more about it
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than i do because they're in it every
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single day while we cover a wide variety
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of topics but bearable basically i
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believe it was in late 2018 or early
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2019 he came up with this um notion
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that if all the banks
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in the world used xrp and if they all
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trade if all of the money transfers and
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remittances in the world
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were controlled by xrp literally
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everyone somehow he works in math to
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where that would mean we had a 589 xrp
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so there are people in the community
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that do believe that that is possible um
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i'm not going to totally rule it out and
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say
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one day that that
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could potentially not be possible i mean
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if all of the banks are using it you
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start to run into almost like a money
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supply problem but then you can get
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around that with derivative you get
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around the money supply thing over time
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oh i i encourage my audience to look at
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more realistic timelines for the next
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four to eight years okay so when we're
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looking at the the price of xrp this
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year
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i think in you know possibly extending
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into an altcoin season the beginning of
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next year
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i would think we're probably looking at
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somewhere between a 12 to 15
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uh xrp if somehow in the it's the day
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that the case is over it gets relisted
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on coinbase and then the next day they
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announced their ipo it could potentially
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go higher 20 30 dollars that is
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possibility but i think 12 to 15 is very
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realistic for this bull run for xrp on
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where this thing is going to go
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i think if you look maybe four years
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down the road or eight years down the
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road you could maybe potentially
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map out a plan for it to get to a
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hundred dollars but the leap from where
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we're at today
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to get to and i think a hundred dollars
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still may be optimistic but i think the
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leap from where we're at today
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to get to 589 in a short period of time
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in a in a period of time that's going to
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impact your portfolio in a meaningful
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way in the short term
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it's just too far to get there um but
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you know who knows how much if we have a
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200 trillion dollar market cap in crypto
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which people like rao powell say
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then i mean
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high numbers are definitely on the table
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but i just think you got to mix realism
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and what's realistic with the ultimate
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opium or the ultimate you know the most
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optimistic vision for where it can go i
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i i in the next 20 years or 15 to 20
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years i would say probably not going to
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happen
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i like how you kept things realistic i
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agree with you there's no way i could
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even
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imagine what where the market could be
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you know five uh ten years from now as
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opposed to 15 20. but
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i appreciate you clearing that up then i
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will let you go
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but general final thoughts about xrp for
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the altcoin daily audience
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yeah my final thoughts on xrp are very
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simple
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it is a crypto community we made fun of
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xrp for a long time we mocked the people
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that said the banks were going to use it
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or they're going to work with this
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government or they're going to do this
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and and we've really come to a time and
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also as you guys know we have this
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debate on the show like oh the banks
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will use it but they won't have to have
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xrp like all this stuff was the talking
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points that we use for years and it's
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time for us all to eat a little crow you
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know and that's what i've been doing
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over the last year is um it it there's a
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philosophical argument of centralization
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decentralization is a positive work with
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banks those are all valid you know
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arguments and debates that we can have
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but xrp is going to take over the
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banking system there's no question about
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it and they were all right and we were
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all wrong
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i feel there still is a question though
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but i appreciate the perspective it
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depends on hey do your own research i
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definitely agree with you that a slap on
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the wrist is probably coming and then
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it's up for the banks to fight it out in
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the cryptos on which protocol wins out
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but ben i'll let you go we'll be on
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around the blockchain sometime next week
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um but thanks again man
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awesome thank you for having me i always
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love coming on
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[Music]
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