Straight up, XRP will hit $10,000 soon. And before you bite off my head, stick around to the end, and I’ll share with you my line of thought.XRP is about to take that top spot after the lawsuit is over, and no one will ever stop it. From the beginning, XRP and Ripple faced rejection from all corners, and that’s because the two are trying to achieve the impossible, that is, merge the crypto and fiat worlds. And to be honest, guys, they are doing a pretty good job at that.
As I said, it hasn’t been easy, and soon all their efforts will yield incredible results. What’s up, guys! Welcome to Money Side.If you haven’t already, hit that subscribe button and turn on the notification bell. I constantly give you guys the best news that currently happening in the crypto market.
With that in mind, we should remember that the moon is always the goal, especially when it comes to XRP.
However, I’m not saying that this coin will hit $10,000 by next week or by the end of the day. No siree! It might take some time before that happens, but it will eventually. I mean, look at BTC?
It took nearly ten years before the coin got to that price. I’m not trying to compare the two because, clearly, they are different, but I hope you get the point. Here’s a tweet by @MH_Schmit that says, ‘Always remember, the moon is the goal.’The document that she highlights says, ‘The most obvious benefit to Ripple of an increased price of XRP is that it increases the value of Ripple’s XRP. This means that Ripple has a greater ability to incentivize partners and liquidity.
It also means that Ripple can raise more revenue by selling XRP: Indirectly, more value almost always means more liquidity and trade volume. XRP already has each of the other characteristics needed to be a good intermediary asset, but it will be initially limited by the available liquidity. Greater liquidity will give Ripple more flexibility to target larger corridors. Also, to some extent, Ripple’s success is limited by people’s perception of Ripple’s success. If you think Ripple’s payment technology is going to be the next big thing, you’ll be willing to invest the money and resources needed to implement and deploy it.
If you think Ripple is a scam, you are not going to integrate it or perhaps even look at it. Whether it makes sense or not, XRP’s price is seen as a measure of Ripple’ssuccess or likelihood of future success. It is also important that it not be terribly expensive to hold XRP. A higher price will mean that a similarly-sized sell will produce less volatility. So, a higher price could mean a lower cost to hold XRP.
So long as XRP’s general price direction is up, the volatility can be hedged without much difficulty. When bitcoins sold for $1, you couldn’t really use them to buy or sell a house. You can now. Bigger transactions require a bigger value. The higher the price of XRP, the larger the payments Ripple can target.
When you’re expecting exponential growth, even a small increase in your starting point can pay huge dividends down the line.’ I must agree with this line of thought.XRP is a solid coin that will soon take over the crypto world if only the SEC lets it go. Without a doubt, this coin has a vital mission that supersedes the crypto world and goes on to have a real-life use case. That is, to provide liquidity to the Ripple Network.
Therefore, the coin is set to create an ecosystem that will virtually be unstoppable. I think of the SEC lawsuit as a means to strengthen and solidify this coin’s future since it’s meant for greater heights. See, the only reason BTC is still questionable in the real-life is that there’s no one to sue.
Above all, the coin has been associated with illegal activities, making most investors a bit wary of what will happen if the governments embraced this coin. Aside from that, the XRP has backing from at least two central banks already using the RippleNet for cross-border transactions. The funny thing is; only in the US do we have a regulatory body questioning the utility of this coin. Instead, the government should have already embraced the currency and pushed for its success. That will ideally put the US on the top spot again. Frankly, the US has been lagging behind China for a while now, thanks to adopting the 5G network. China took the lead here and now; the country is already adopting cryptos.
If the US encourages RP and even champions its CBDC application, that would put the country years ahead of any other. More importantly, through creating a CBDC, the US will now get a chance to correctly regulate what’s happening in the crypto world.@JohnEDeaton1 tweeted, ‘China is advancing forward while the @SEC_News needs a 60-day extension after8 years of knowledge regarding XRP and Ripple.’And honestly, I have to say that he is right. Why would the SEC ask for more time yet they’ve had an entire 8-years to prepare for this case?
Weren’t they ready to take on Ripple and its CEOs, or are they just trying to stall the case? As a matter of fact, the extension request logically should have been from Ripple, not the SEC. Think about it for a second! Rippledidn’t know what was about to go down, so it would have made sense if they requested more time to prepare.
Now, what is the reason behind the SEC asking for more time when clearly, they’ve had the upper hand preparing for this case?
I’m not particularly eager to speculate a lot, but there must be something that’s cooking behind the scenes that we don’t know about. More importantly, I think the SEC is trying to find ways to avoid giving information on how they came up with the idea that XRP is a security and not ETH or BTC. An article published on ripplecoinnews.com byGracie Perez titled, ‘Ripple Vs. SEC Lawsuit: Is the SEC confident about winning its case?
‘had a lot to say about what is happening with this lawsuit.
The article states that’s, ‘The US Securities and Exchange Commission first charged Ripple Labs with illegal securities offerings almost six months ago. the securities and Exchange Commission has filed a complaint against Ripple Labs Inc. and two of its executives, who are also significant holders, alleging that they raised more than $1.3 billion through an unregistered, ongoing digital asset securities offering.
Many people in the crypto community believe the SEC’s case is faulty on multiple levels. In fact, it could be argued that the agency is aware of this. For beginners, the SEC informed Judge Netburn in a recent filing that a loss in the case would have far-reaching consequences, as future defendants would be allowed to use Ripple’s defense as precedent. Furthermore, Jay Clayton, the ex-Chairman of the Securities and Exchange Commission (SEC), who initiated the lawsuit, recently co-authored an op-ed.
He seemed to repeat some of Ripple’s old talking points. Against the background of Ripple’ssmall’s legal victories over recent months, do these developments sound as confident as the SEC has? The answer is negative, according to many. Attorney John Deaton has already made headlines for filing a motion to intervene on behalf of XP investors in the aforementioned lawsuit. In support of XRP holders, Deaton also argued that the SEC had disputed the independence of XRP. This led XRP Holders to intervene in order to “develop the Court’s understanding ofXRP’s current use, technology, and development.
” While Deaton has always argued that the SEC and ripple Labs, like the other defendants in the lawsuit, are in no position to represent the RP holders he has been representing, he has also argued that the regulatory agency was wrong to take the San Francisco-based firm to court. In his recent Twitter thread on “What is the law,” the managing partners of Deaton LegalFirm cited the observations of Judge Castelin the Telegram case again to argue that the SEC case of Garlinghouse and Larsen, RippleLabs and its managers, was faulty at some stage. All this is conjecture at the end of the day,with no party sure what the court is going to do.
However, according to Deaton, if the court follows the precedent, the pendulum swings in the path of the defendant.'”Another tweet with relevant information regarding the court case is this one by @Cryptobull that says, ‘Settlement negotiations are about what party has the better cards.
I think ripple still has the better cards; however, today’s extension by 60 days gives the SEC a little leverage. If I were them, I’d settle now. #XRP’ And if Ripple agrees to settle, they will profit a lot more from the ending of this lawsuit because the price of the coin will jump to an all-time high. Unfortunately, the XRP’sprice has gone a little lower, and that is usually followed by thousands of conspiracy theories about the fall of this coin. But let us continue holding.
Anyway, here’s the technical analysis for a deeper understanding of the price action. Now we are looking at a 4-hour time frame. As we can see daily trendline that is black trend line broke and the market here loses strong daily support and this is a weak sign. So for now we are looking for some local rise here to 0.9$ and it can be a retest of breakout too.
But as we mentioned if a 0.7$ break then a huge fall is expected sooner than what you think? This is Bitcoin on the 1W time-frame in order to get all of its historic price action on one chart as I’ll be looking at eachCycle on a Fibo approach. As you see each time Bitcoin made a BullCycle Top (red arrow) the subsequent BearCycle that followed never reached as low as the Previous Cycle Top ( ATH ) or even the 0.618 Fibonacci retracements (blue line) from the time the rise (on the previous Bull Cycle)turned parabolic.
As parabolic, I define the time it started rising aggressively following the last major pull-bac below the (at the time) ATH. I see a growing sentiment in the crypto community that calls for a low at 20k or below. Even though that would represent an excellent long-term buy opportunity as it would put BTCUSD again inside the long-term logarithmic Growth Curve (the dashed lines zone consisting of the lows and highs during Bear Cycles), it would mark the first time that Bitcoin will make a Bear Cycle Bottom by hitting the 0.618 Fib and the Previous ATH. What do you think?
Are we ahead of a historic first for Bitcoin or $65000 wasn’t this Bull Cycle’s Top? Let me know in the comment section below guys! Trade safely! 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. Thank you very much for watching. Don’t forget to like this video and to click on the subscribe button below. Turn on notifications to get informed whenever we post our amazing content. Well, see you in the next video.