Guys, this week, XRP is about to prove to you who’s the boss. Now, I know this coin has been on a bearish trend ever since it hit the 1.9-dollar mark, but now we are about to witness a potential change in the price action of this coin.
Like always, I’ll support my facts with information that’s currently available on the internet. We have a lot to discuss today, so sit back and don’t touch that dial. Hello guys, and welcome to Money Side. If you are new here, don’t forget to hit that subscribe button and turn on the notification to get updates when we drop new content.
To my Money Side gang, welcome back. And hit that like button if you enjoyed this content. Right, let’s get down to business, shall we? @XRPNews tweeted, ‘Ripple #XRP News – Trangelo OmiPay We Chat AliPay – All Roads Lead To On-Demand Liquidity! The move Ripple just made has opened the flood gates! Trangelo has opened up #XRP to over 1 BILLION users.’ We all know that Ripple owns close to 40% of Tranglo.
But do you know what this partnership means? Well, XRP is about to blow up and reach the top. Tranglo is a money transfer system that will now work hand in hand with Ripple. That’s not even the only partnership this company has made. We’ve witnessed life-changing partnerships happening with Ripple, and that’s enough to show you that this coin is the future of crypto.
I mean, how many companies have you seen in the crypto market making partnerships with central banks? And Ripple is not only creating the partnerships; this company is actually thriving in these partnerships. @RealXRPBoy retweeted this post that stated, ‘The IMF, World Bank and the Bank of International Settlements recommend countries work together on CBDCs to enhance #cross-border #payments in a recent report to G20 states via @BIS_org’ So, I followed the link and checked out the article.
The article states Central bank digital currencies (CBDCs) have the potential to enhance the efficiency of cross-border payments, as long as countries work together. This is the main conclusion of a joint report released today by the Committee on Payments and Market Infrastructures, the BIS Innovation Hub, the International Monetary Fund (IMF) and the World Bank. The report analyses how CBDCs could facilitate enhanced cross-border payments, and how practical efforts are taking these considerations forward.
Facilitating international payments with CBDCs can be achieved through different degrees of integration and cooperation, ranging from basic compatibility with common standards to the establishment of international payment infrastructures. The analysis highlights both the need for multilateral collaboration on macro-financial consequences as well as the importance of interoperability between CBDCs. To date, no major jurisdiction has launched a CBDC and many design and policy decisions are still unresolved. Also, most CBDC investigations by central banks focus on domestic issues.
In this context, this report is exploratory and examines cross-border implications with the assumption that CBDCs will become widely used. To achieve the potential benefits for public welfare while preserving financial stability, further exploration of design choices and their macro-financial implications is essential.’ Now that everyone is looking towards what CBDCs can do to the market, RippleNet is designed to handle the technical aspect of CBDCs. In simple terms, most banks are looking to make partnerships with Ripple if they haven’t already.
As we speak, Ripple is the most attractive crypto to fiat company. Aside from the minor setback that came because of the SEC lawsuit. But most millionaires in the crypto market have admitted that they own XRPs in their wallets. In fact, some of them are hoping that Ripple wins the case. An article published on finance feed states that Mr Mccaleb is also waiting for this company to win.
A few attorneys have risen to prominence online since the SEC decided to file a complaint against Ripple Labs for an alleged unregistered sale of securities, implying that XRP is a security. One of those lawyers is Jeremy Hogan, who has gained popularity with his Youtube videos covering and commenting on the lawsuit.
In his latest, Mr Hogan offered to answer any question in a typical “ask me anything” (AMA) fashion. While he answered several questions and jokes, a few were more newsworthy than others such as: “Is there a difference between Ripple selling XRP to businesses and jed selling XRP from this taco stand wallet onto open exchanges?” Jed refers to Jed McCaleb, the Ripple co-founder and first CTO who left to launch Stellar (XLM).
McCaleb continues to sell millions of XRP despite the ongoing SEC v. Ripple lawsuit. When the SEC sued Ripple, the agency claimed that all XRP, including XRP sold in the secondary market, were always unregistered securities.
In a recent tweet, XRP Holders attorney John Deaton commented on this controversy: “Although the SEC claims that all XRP are unregistered securities and Brad Garlinghouse and Chris Larsen unjustly enriched themselves, it allows Ripple Co-founder JedMcCaleb to sell his XRP for hundreds of millions of dollars to possibly buy MoneyGram.
Makes perfect sense.” In regard to the question, attorney Jeremy Hogan stated Jed McCaleb “basically sold XRP just like Brad Garlinghouse and Chris Larsen – he just wasn’t employed by Ripple when he sold it. And he wasn’t sued. But could he be?” Mr Hogan then analyzed how an SEC lawyer explained it to the Judge back in the hearing in March. “
Court: Presumably then every individual in the world who is selling XRP would be violating securities laws?” “SEC Attorney: Section 5 focuses on the issuer and affiliates of the issuer that are captured by the statute and Section specifically exempts these transactions of other people buying and selling XRP.”
Jeremy Hogan then concluded that the legal question becomes “is Jed McCaleb an affiliate of Ripple? And the short answer is that because he received the rights to receive the tokens during his break-up with Ripple as an executive that probably prohibits him from receiving the protections of Section 4.” “And so, Mr.
Mccaleb is probably watching the Ripple lawsuit very closely and praying that Ripple wins”, Mr Hogan added. Jed McCaleb received 8 billion XRP tokens for his role as co-founder and CTO in the development of the OpenCoin company, which has since been rebranded to Ripple Labs. McCaleb and Ripple reached an agreement in which he could sell 1.5% of XRP’s daily volume per day.
In 2020, McCaleb sold a whopping $400 million worth of XRP and has sold almost 2.4 billion XRP so far this year, which may have been worth approximately $1.95 billion. The SEC has made no public statement regarding Jed McCaleb’s XRP activity despite the ongoing SEC v. Ripple lawsuit, which had XRP being delisted by crypto exchanges in the United States, crippling the market.’ The court case between Ripple and XRP has been happening for almost a year, and it’s about time it ends. That’s because I believe that we don’t know the truth behind this lawsuit.
It seems the SEC has been making a fool of themselves since the start of this case. That begs the question: why would a regulatory body pursue a lawsuit they are almost sure they will lose? From my perspective, the government is trying to slow down the future of XRP so that they can create their own coin, that is, the FED coin.
This CBDC will be a direct competitor of RippleNet and XRP in the U.S. market. Therefore, I don’t think SEC has anything against Ripple, at least not anything solid, but they are trying to slow them down. But here’s the funniest thing: the company hasn’t stopped working on their mission, not even for one minute. Ripple has gone above and beyond to ensure they stay afloat no matter the adversities they are facing.
If that’s not a company I’d bank my top dollar with, I don’t know what is! Ripple currently has partnerships from all over the world. In my previous content, I’ve also highlighted partnerships with firms like Mastercard. Yes, you heard that right! Ripple is currently working its way to the top no matter what is happening in the court.
And on the other hand, XRP is not going down without a fight. This coin has been pushing to stay afloat even when everyone doubted that it would survive. When the lawsuit was filed, the XRP price went down, and that raised a lot of doubt in the crypto community.
Traders who didn’t believe in this coin exited the making hence leading it to a further drop. But if you’ve been in the crypto market for a long, you’ll know that it’s not the best time to dump your XRP. In fact, it’s the best time to hold and stock up on your XRP. Without a doubt, this coin will get to 5 dollars or even soar to 10 dollars.
So, all you have to do is wait for this coin to start its bullish trend. With that in mind, let’s take a look at the technical analysis. If we look at daily perspective, XRP is in the parabolic channel. Target set at $30 in the long term for XRPUSD. These are just some of the trendlines that can be drawn from the chart. In this 4 hour chart, Just observing the Head & Shoulders formation that has been completed in XRP which projects a rally to over $0.72.
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