Are we there yet? This is the question that all members in the XRP Community have had in their minds ever since the SEC initiated proceedings against XRP. How long will it take for the case to come to an end and what exactly will be the outcome of it? What will be the impact of the court’s decision, and will a negative decision for XRP mean the end of XRP? Stay tuned and find out all that you need to know.
But first, we are giving away $25 at the end of the month to 1 random subscriber to start on their XRP journey. All you need to do is to like the video, subscribe, and comment your thoughts on XRP in the comment section. WELCOME, XRP ARMY! Let’s grow the XRP LAB COMMUNITY by pressing the like and subscribe button! The crypto markets as a whole have been suffering really heavily. A lot of that is due to the regulations against cryptocurrencies that many countries have come up with.
When the concept of cryptocurrencies was first introduced, we noticed that a huge number of people started making profits, while on the other hand, a significant number of people felt sceptical of the very idea. Though that percentage of people has been decreasing over time, as the markets started getting to the roots of economies of many countries, a lot of people started getting a feeling that the crypto markets may really be the places where they will be able to make higher profits.
One of the coins that have been taking advantage of this increasing use of cryptocurrencies is Quant. However, given it is much less exposed than the other coins in the market, the coin that we will be speaking of today will have a totally different case. XRP is one of the most supported cryptocurrencies in the market.
It has been one among the most anticipated coins as well in recent months, majorly due to the case that is going on against the SEC. A huge number of investors and YouTubers have been covering all the updates that have been taking place in the court. While all this is happening, the watchdogs have been claiming that there are some activities that are conducted by the DeFi protocol which may be deemed illegal.
This is a major blow to the entire system as we may end up with a much higher fear in the market.
If it continues, we may even reach a point where the market will completely be abandoned because of the extremely high fear that is being created against the legality of Cryptocurrencies. They also claim that a lot of such activities may also be harmful to Cryptocurrency users.
The question is whether this will be applicable to all types of cryptocurrencies. We think that the Altcoins will probably keep rising further ahead as the allegations that have been put right now do not seem to be having many bases to it.
Even though there are claims that we may go a bit lower from the positions that we are at right now, we, on the other hand, may also get to make a lot more profit as soon as the market gets back to normalcy.
The downtime that we have is mostly due to the fall in the market that we saw in recent months.
The chances are that we will be able to get back up to the price levels that we have been in the past. This means a lot of the low times will not affect the price of the coins in the long run. The present lows can also be considered as just volatility that is normal in the case of any cryptocurrencies.
One of the major indications of this is the fact that people are getting deeper into the concept of cryptocurrencies. As they started digging deeper, countries like China banned such operations. If the community was not determinant of their belief in the coin, the chances were that they would have decided to end the work that they have been doing.
However, the reality was that as a result of the ban, instead of the people of China leaving cryptocurrencies, it was the people of China moving elsewhere in search of better resources. This was just about Bitcoin; however, there are a lot more things happening around the world in favour of cryptocurrencies.
One of the biggest things to happen is the instructions given by JP Morgan to their advisors to advise the wealthy clients to invest in cryptocurrencies. This was a huge sign for the entire community of cryptocurrencies. For an institution like JP Morgan, and the huge list of wealthy clients that they have, there are high chances that we might see much higher investments in the coin that are working well in the current days.
Given that this idea works out for them, chances are that there will be even more financial institutions and banks looking forward to getting through the same. And earn a bit more profit. However, even though JP Morgan did give a green light on this, it looks like these investments will not be direct; rather, they will be through Grayscale, which is a respective crypto trust.
One thing that is even more astonishing is that JP Morgan has been one of the biggest institutions in the world. This being the case, an acceptance from their side could mean a lot of bullish news for the market as a whole.
There are high chances that all the disbeliefs against Cryptocurrencies must have been put forth by the officials of JP Morgan in the past to accumulate all they can. Even though this is all an assumption, the chances are that this could be true, and this must have been a strategy that they have been using to make sure that they accumulate enough to make this move.
This could be one of the biggest reasons why they kept on denying the validity of the Cryptocurrencies, especially Bitcoin; to accumulate enough; for them to be able to give them off at a premium to their wealthy investors. Bitcoin has been on a serious plunge ever since this news came out in the market. Even though the situation has not been good in the crypto market for a long time, there have been some coins that started moving upwards in the market.
A few of them were Bitcoin and XRP, among the others. The volatility in the market is what makes Cryptocurrency the best and the riskiest investment at the same time, making them a high-risk, high-gain market.
On average, the chances are that just being in this market for a year could mean that you will be able to earn ten times more than what you could earn in the stocks. Moving back into what exactly has been happening in Ripple, we noticed that Ripple hired Sijut “Bob” Chakravorti as the chief economist. He has a very good history of being an economist in the past. He has been an economist at the Fed, Chicago, and in Dallas.
This was noticed through a Twitter post by the Wrath of Kahneman. He is also the CEO of his own firm named Chakra Advisors LLC, which has been up and running since 2016 till now. There has been a link between XRP and the banks in the past. If you look at this recruitment specifically, you will notice that Bob has been working at the Federal Reserve in Chicago and in Dallas as well.
On top of that, his work with the KPMG and the World Bank on Gates Foundation project speaks a lot of the intentions that they have with the future of XRP. This does not end here; he has also been writing articles for the ECB, the IMF, which recently acknowledged Ripple, the Dutch Central Bank, and a lot more. The only thing that holds back XRP is the lawsuit. The sooner it ends, the faster it will become to gain back the momentum that it had been building up before getting entangled with the lawsuit.
The history of the new recruit speaks a lot about the future steps of Ripple and what follows from this date. Therefore, it becomes one of the greatest things to watch out for and also one of the biggest reasons why the prices could spool up for XRP. The relationship which Ripple has with the governments has always been amazing. One such other thing that has been happening is from the Bank of England. They completed a successful proof of concept with Ripple back in 2017.
Adding on to this point, we noticed that the Bank of England appointed Accenture as the technology delivery partner for the real-time gross settlement service renewal program. As a matter of fact, Accenture is one of the partners of Ripple as well! A lot of things seem to be happening for XRP and Ripple apart from the ongoing case.
We will certainly need to wait for the latest information to surface. As we rise back up in the overall market, we will be able to regain a lot that has been lost. That being the case, will you be investing in XRP? Let us know in the comments below! If you want to continue to know more about XRP, we have got two more videos waiting for you on the end screen to check out.
Make sure to subscribe and give us a thumbs up! Thank you so much for watching; see you in the next video, my friend. Kindly note that the prices of cryptocurrencies frequently change, so by the time you watch this video, it might have changed to a whole new value.
The information provided in this video does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the content as such. The content in this video is for educational purposes only and hence should not be considered as financial advice. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
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