What’s up, guys? I hope you are all having a fantastic day. Today we have quite a lot to talk about. It seems like the market is trying to recover, and it’s doing that strongly. This is great to see, As always, welcome back to Money Side- your favourite crypto news channel. If you are new here, welcome to the XRP fam.
Hit that ‘subscribe’ button and turn on the notifications so that you don’t miss out on our daily crypto news updates. Now, back to today’s topic, we will rev those engines with this tweet from @XrpMr that says, “That’s the difference!” He shares these two images wherein one; there is Pump right there holding a Bitcoin Pizza box while on the other hand, he shares an article published by Ripple saying, ‘Ripple Launches On-Demand Liquidity with SBI Remit To Accelerate and Grow Cross Border Payments from Japan.’
I hope you all can see the difference between the two because it’s right there before our eyes. Moving on from that, we have another tweet from @Djevans71 that says, “@Neloangelo314 the adoption of Central Bank Digital Currencies is Inevitable- Bank of America” What does this mean, guys? The adoption of CBDCs will come fast, and the majority won’t even see it coming even though we have been giving you all these heads up.
CBDCs are up on the horizon and could launch any time now. But where is the catalyst to collapse the current financial system? That’s definitely the blackouts and the cyber-attacks. Now we have yet another interesting tweet here from @Ripple that says, “Announcing our newest On-Demand Liquidity corridor in (drumroll please…) JAPAN!” In fact, if we look at this article posted on Financefeeds.com, we can see that Ripple has announced the blockchain company’s first On-Demand Liquidity (ODL) service implementation in Japan, thus setting the stage to drive more adoption of crypto-enabled services in the Asia Pacific.
By leveraging the digital asset XRP to eliminate pre-funding, the two companies can also free up capital and accelerate the expansion of their own payment’s businesses. SBI Remit, the largest money transfer provider in Japan and a subsidiary of Ripple shareholder SBI Holdings, has gone live with Ripple’s ODL as part of a project for remittance payments from Japan to the Philippines.
The firm has teamed up with mobile payments service Coins. ph and digital asset exchange platform SBI VC Trade to provide faster, more affordable remittance options for customers. The partnership addresses the high demand for affordable remittance services for the Filipino diaspora, one of the largest in the world.
Many migrants look to send money home to support family members, and the flow from Japan to the Philippines has grown to $1.8 billion per year. Japan (10.50 per cent) has one of the highest remittance costs in the world: almost twice as much as the average of all the G8 countries (5.92 per cent), said Ripple, who helps remittance services to leverage the digital asset XRP to eliminate pre-funding, thus freeing up capital to accelerate their own expansion.
Nobuo Ando, Representative Director of SBI Remit, said: “We see tremendous potential in leveraging blockchain technology to transform not only the way payment transactions are made but in how we manage our business by unlocking trapped capital.
The launch of ODL in Japan is just the start, and we look forward to continuing to push into the next frontier of financial innovation, beyond real-time payments in just the Philippines, but to other parts of the region as well.” Ripple and SBI Holdings have established a joint venture, SBI Ripple Asia, to introduce XRP-powered remittance services across the region, having recently launched the product in Cambodia and Vietnam.
In the meantime, the SEC v.
Ripple lawsuit has had a major development: the deposition of ex-SEC Director of Corporation Finance, William Hinman. Despite the public interest being one of the reasons why Judge Sarah Netburn allowed for the sworn testimony of the former high-ranking government official, the deposition was not a public hearing.
His statements will likely be used in Ripple’s Motion for Summary Judgment on Fair Notice. Far from that, we have another tweet from @bgarlinghouse where he tweeted saying, “Hugely excited about our newest ODL corridor— Japan is one of our largest markets.
With regulatory clarity and innovative partners like SBI, the region is ready for a crypto-enabled future.” I bet the SEC must be panicking to see all this, and that’s why they have been silent. If you have all noticed, Brad Garlinghouse is more active on Twitter recently.
It’s almost impossible for him to mask his excitement. We also have this other interesting tweet from @Cryptocwby that says, “Instant cross-border payments with zero pre-funding and no Nostro accounts… in the near future, most global payments will work like this.” As we all know, we are now in the finale of this show, and we XRP holders are right there at the front seat watching the scenes unfold.
Another tweet here from @RepTomEmmer says, “Bottom Line: trying to offset the infrastructure package’s out-of-control spending on the backs of everyday crypto investors and innovators will do nothing but leave our country in the dust.” Tom Emmer is a great supporter of Ripple and XRP. In fact, he once spoke with Brad Garlinghouse and said that XRP is truly the one.
As we all can see from his tweet right here, if America doesn’t implement the CBDCs and doesn’t use XRP even with the true potential, it has shown time, and again, their country will be left in the dust.
They might fool us into thinking they are unbothered, but they know this too, and soon they will swoop in. We have yet another tweet here from @bgarlinghouse that says, “I’m encouraged by this morning’s Senate Banking hearing that members of Congress are looking to understand the nuances within crypto- a far cry from just a few years ago when some thought crypto is just a fad or mostly for criminals 1/4.”
He goes further to say that, “I’m also encouraged by bipartisan efforts to provide much-needed regulatory frameworks to an industry that is by and large looking to work with policymakers, not against them. As I have said before, all blockchains and cryptos should not be painted with a single broad brush.
2/4.” “Like any technology of currency, crypto & blockchain can be used for good or bad. To discount the real use cases for billions globally (cross-border/micropayments, tokenization, instant settlement, transparency, to name a few) because of the actions of a few is shortsighted. 3/4”.
“As @senwarren has recognized, our current banking and payment systems need improvement. Crypto and blockchain were originally created to provide access to those who have consistently been left out, and many companies are using this tech for precisely that purpose 4/4.” Now, I want you to remember that 99.9% of these coins will vanish away.
But XRP will be here to stay and will be the heart of the new financial system. Now, as we wind up today’s content, we have this tweet from @XRPisOurFuture that says, “I guess we will never know! ” @VitalikButerin #XRP.” He further shares content from Mineable.com that talks about Ripple and XRP. The content says that of all the crypto projects out there, Ripple is the one that continues to turn heads. Yet, like all other digital assets, Ripple and XRP are often a source of confusion, mystery and speculation.
The content clears the picture by discussing ten things that everyone gets wrong about Ripple and XRP. Starting with fact number 10, the content discusses that the Ripple project is actually older than Bitcoin. Well, I bet this is not something that many people knew, but the original implementation of Ripple was created by Ryan Fugger in 2004.
That’s, in fact, four years before the first Bitcoin was mined. Also, we are further told that in 2013 before Vitalik Buterin created Ethereum, he wrote an article for Bitcoin Magazine praising the Ripple project. He stated, ‘Altogether, what Ripple has accomplished is impressive. With Ripple, we have a way of sending, receiving, and holding any currency- not just one specific cryptocurrency- in a decentralized way.’
He further stated that ‘The fact that Bitcoin now has a strong and compelling alternative makes it clearer than ever that the idea of cryptocurrency as a whole is here to stay.’ A quick fun fact is that Vitalik Buterin was going to work for Ripple but had difficulty securing a Visa to work in the United States.
Can you imagine Ripple and Vitalik working hand in hand to create the next big cryptocurrency? I guess we’ll never know what could have been! With that in mind let’s take a look at the price action of XRP! Now we are looking at the weekly XRPUSD chart. If the price maintains above 0.51-0.68 range, we expect the uptrend to continue. However, the 0.71-0.88 section is expected to create a new wave if it rises and breaks through an important volume profile section.
If it declines from the 0.51 point, there is a possibility of entering the mid-to-long-term investment zone, so you need to trade cautiously. If we look at the weekly XRPBTC chart, and if it rises in the 653 Satoshi-2413 Satoshi section, which is the bottom box section, it is expected to turn into an uptrend. In particular, if the price is maintained above the 4264 Satoshi point, it is expected to create a new wave.
Read More: XRP FINALLY EXPLODING!