Time and time again, Ripple has proven to us that it’s ready to take on the world and will still win. This company is efficient and dedicated to making a difference in the financial system. And so is XRP. That begs the question: is the lawsuit real, or are we being played? Well, stick around to find out more. We will also highlight the juicy stories surrounding this coin, plus some behind-the-scenes insight.
So, before we get started, let’s roll that intro. Hi guys, and Welcome to Money Side, where we let money do the talking. Don’t forget to smash that subscribe button and turn on the notification bell to get up-to-date news on the latest in the crypto sphere. To my Money Side gang, welcome back. Also, if you enjoyed this video, click on the like button guys! To get us started is this tweet by @CryptoFusionFX.
‘600 employees (approximately) on the payroll at @Ripple Working 8-hour workdays. 261 working days a year. That’s 1,252,800 man/woman hours a year being invested into Ripple products with XRP a primary focus. Name one other project in crypto with this kind of effort.’ And that makes a lot of sense, especially in our today’s topic.
I don’t think a company like Ripple could afford to make such a mistake and risk being flagged by the SEC with all of its resources. In my opinion, this might very well be the most well-orchestrated marketing strategy we’ve ever seen. Yes, I said it! The company is spending endless hours designing the future of this coin. Before the SEC lawsuit, most people didn’t even concentrate on what XRP has to offer.
In fact, a bunch of people didn’t even understand the difference between Ripple and XRP. Now, since this case has a lot to do with what will happen to the rest of the altcoins in the future, all eyes are on Ripple. Essentially, if the company goes on to win the lawsuit, what do you think will happen to XRP’s price? The coin will head straight to the moon, and no one will stop it.
It’s like currently, the coin is undergoing baptism by fire. That’s because, once the court case is over, every financial company will want a piece of this golden goose that promises to merge the crypto and fiat worlds. Another tweet that will also help to put everything into perspective is this one by @CryptoFusionFX ‘Whoever created Bitcoin probably knew that it wouldn’t scale.
But they needed to introduce cryptocurrency to the world with an incentivized economic model – essentially bribing everyone to jump on board. But in the end, the powers at large will not leave control up to chance.’ I’ve said this time and time again, BTC wasn’t designed to carry the cryptocurrency mantle. It was, however, configured to pave the way for the new crypto, which is no doubt XRP.
Of all cryptocurrencies in the market today, XRP is the only one designed to take this crypto world to the next level. The rest will only cause a collapse in the system or will continue to fuel the rivalry between crypto and fiat. BTC created a form of hostility between these two worlds, but XRP is trying to bridge them together.
Ripple has created partnerships with major players in the fiat currency in their mission to become the bridge currency. They’ve also partnered with world banks to make this possible. Ripple also tweeted about its objectives in the crypto and fiat world.
- Small blue diamond Valuable
- Small blue diamond Efficient
- Small blue diamond Scalable
- Small blue diamond is Cost-effective.
That’s the power of #RippleNet’s Line of Credit. Learn more.’ The company also shared a link to their page, which talks about RippleNet being a secure upfront capital for your payments. Through RippleNet, you can send money now and pay later through cross-border transactions.
On the other hand, creating credit arrangements on cross-border transactions without Ripple’s framework can be a real hassle. Thankfully RippleNet, you can instantly access a line of credit through XRP. Above all, the transaction will be completed instantly at a low cost and also across borders.
Who wouldn’t want such financial privileges? Unfortunately, the current banking system in the fiat world will require a lot of verification, and it will also include a high transaction fee. In the end, you’ll end up with only a small portion of your credit. And that’s not all! XRP is also energy efficient. In fact, an article written on Ripple’s official page highlights the perks of XRP to the electrical system.
The article states, As it stands, electricity is in historic demand as we continue to carve out a digital future set into motion much quicker than expected due to this pandemic. The repercussions of this electricity usage could reverse the environmental benefits we reaped during the lockdown and plunge us further back in terms of the inroads we’ve made around sustainability.
A fully digital future is one that would instinctively rely on digital payment assets like cryptocurrency. However, increased investment in the blockchain technology that mines and produces many of these digital assets, such as Bitcoin, could put further strain on the global environment. On average, a single Bitcoin transaction consumes 700 KWh of electricity. That’s a massive carbon footprint when you consider that a single transaction utilizing fiat currency like paper money consumes a mere 0.044 KWh.
Of course, despite the big discrepancy in electricity consumption between Bitcoin and fiat currency, paper money still contributes to significant environmental damage when you factor in the deforestation, eutrophication and photochemical ozone creation stemming from its production and disposal—not to mention the greenhouse gas emissions that result from its transportation and the electricity banks consume to house and store this money. Cryptocurrency by design isn’t produced, transported or stored in the same ways. This means that it can very much be a sustainable payment option—you just have to use the right digital asset.
XRP is fundamentally a much more sustainable asset than the likes of Bitcoin or Ethereum, only consuming a scant 0.0079 KWh of electricity per transaction. A major reason why XRP is so much more sustainable than other cryptocurrencies is that all XRP tokens currently exist, meaning no additional energy is required to make more of this asset.
Meanwhile, Bitcoin and Ethereum continue to be produced via proof of work mining practices that gobble up energy. On average, an ASIC Bitcoin miner costs $1,500 with a high-performing miner costing upwards of $6,000. This figures in the cost of mining equipment which, due to the inability to predict future network behaviour and mining profitability, tends to be purchased by miners on the cheaper side of the scale, meaning that it’s likely energy inefficient as well.
These are monetary and environmental costs XRP simply doesn’t accrue. And thanks to the XRP Ledger, XRP transactions can be settled instantly without these associated energy costs as well. Bottom line: more sustainable blockchains will only encourage further adoption of cryptocurrencies like XRP. As we gear up to embrace our electrically fueled digital future and the real economic growth it promises, we must also consider the impact this future has on the environment.
Put simply, a digital future that works for all must also be a sustainable future.’ On all fronts, XRP seems to outperform the self-proclaimed crypto king, Bitcoin. With that in mind, BTC was never intended to rule all the coins. And it’s time we accept that. someone else shared my exact sentiments. In this video, @CCguerrilla says that BTC wasn’t designed to be the king of cryptos. He says that there are other cryptos that could probably make you a lot of money other than BTC, which is actually true.
We need to accept that bitcoin is a fool’s gold, and anyone indulging in it will likely lose money rather than gain. I’m sorry, my BTC fans. It’s time to speak the truth. So, what next for BTC? Well, for now, I’m sure we can all agree that this coin still has a huge market cap. For that reason and the fact that it was the first crypto, it will continue to be relevant in the crypto market.
But it’s not what will turn you into a millionaire. As a matter of fact, you have better chances of making more money with crypto like Doge compared to BTC. XRP is more of a sure profitable investment opportunity. All you have to do is to ensure you don’t put all your eggs in one basket. XRP and Ripple are more likely to win the lawsuit, and we know it. When that happens, reaching the $5 mark and even soaring higher will no longer be a dream.
With that in mind, let’s take a look at the technical analysis of this coin. we are looking at the 12-hour timeframe perspectives. In recent times I detected that XRPUSD has reached some very important levels in the structure from where it has the ability to build up. Besides that, it formed a major formation that can be the source of determining breakouts and upcoming volatilities. It is also necessary to distinguish XRP from the other cryptocurrencies as the divergence between the currencies is increasing more and more.
While there are cryptocurrencies with more bearish structures or neural structures there are others like XRP with a given bullish edge, therefore I detected all the important levels and likely determinations we should consider with XRP. As when looking at my chart we can watch there how XRP has continued with its bearish alignments to the downside and now recently reached an important level which is the ascending-trend-line marked in my chart in black.
In this trend-line, XRP printed several bounces to the upside previously therefore it is a strong trendline that is likely to be the origin for further volatilities. Besides that XRP has formed this massive descending-wedge-formation marked with the blue boundaries, within this wedge XRPUSD has the coherent wave-count with the waves A to E already completed meaning the price-action is ready to markup as the wave-count has finalized.
Taking all these factors into consideration XRPUSD has formed a structure in which it can build up and finally complete a substantial upside continuation, this will be confirmed when XRPUSD breaks out above the upper boundary of the descending-wedge-formation.
Especially when XRPUSD then also marks above the 25-EMA in red this will be the completion of the whole wedge-formation and will be the setup for the further continuations to the upside. Once the wedge is completed XRPUSD will activate the target zone marked in my chart in blue at the 0.942 level, once this level is reached the situation needs to be elevated anew and if XRPUSD manages an immediate continuation or firstly reverses which will not be unlikely.
As always trade safely guys! See you! Please keep in mind, We are not licensed, financial advisors. All videos on this channel are intended for entertainment purposes only. Tell us what you think in the comment section below and let’s have a conversation.
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