What’s up, XRP community? Welcome back to another video, and thank you for joining me! Today, I want to discuss a few exciting topics: the Ripple stablecoin, which has officially gone live, the outcome of the ongoing lawsuit, and the next steps. We’ll also cover a major conference on AI and blockchain technology, predictions for the next bull run, and wrap up with some insightful analysis on the XRP chart from YouTuber Waters Above.
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Now, let’s check out the market: Bitcoin is sitting around $61,000, while XRP is trading at about $0.59. Moving on to the lawsuit: the SEC initially demanded $2 billion, but Ripple ended up settling for $125 million, a figure they’re comfortable with. Notably, Ripple’s CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty have both weighed in on this matter. Former SEC lawyer Mark Fagel mentioned that the agency has 60 days to appeal the Ripple case, potentially holding the settlement funds until the appeal is resolved. Attorney Fred Rispoli, supporting XRP, noted that Ripple Labs would only file a cross-appeal if the SEC appeals first. Interestingly, the SEC hasn't used strong language indicating an appeal, possibly acknowledging their defeat. Ripple believes its current XRP sales no longer qualify as securities. This means XRP is the first cryptocurrency with clear regulatory clarity.
If you enjoy this content, please hit the like button to support the channel. If not, feel free to hit dislike and share your feedback in the comments. XRP has shown a bullish pattern, similar to one seen in 2016-2017 before a massive climb of 62,000%. This pattern is complete, suggesting that XRP could be on the brink of another significant breakout. It doesn’t necessarily mean it will happen tomorrow, but the setup is there. Remember, when XRP moves, it moves quickly. In 2017, a 60,000% gain happened in just a few weeks. So, if you’ve been holding for years, a few more months or even years could be worth the wait.
Mr. Man XRP predicts a bull run in 2024-2025, backed by insights from the AIBC World Summit, a leading event in blockchain, AI, and emerging technologies. After the elections, crypto markets are expected to surge. During the conference, experts highlighted that stablecoins can offer some protection, but predicting the exact timing of a bull run is challenging. Increased public interest in crypto suggests we're nearing another peak, but caution is advised. While Bitcoin is close to its all-time highs, XRP remains significantly below its peak, making it an attractive accumulation option.
In related news, RippleNet has made significant strides in the Philippines, connecting major banks such as Bank of America, Bank of China, and the Bank of the Philippine Islands. The Philippines is a key market due to its high volume of cross-border payments. Ripple's On-Demand Liquidity (ODL) solution has been streamlined, enabling XRP to be used without direct interaction from customers, simplifying the payment process. Additionally, Ripple's new USD stablecoin, currently in private beta on the XRP Ledger and Ethereum mainnet, is a big step forward. This stablecoin highlights Ripple's expansion beyond cross-border payments, much like Amazon evolved beyond being just an online bookstore.
Ripple Payments Direct now offers a streamlined cross-border payment solution, eliminating the need for users to handle cryptocurrencies directly. This approach includes compliance guarantees, optimized payment paths, and automatic payment retries. The payment process involves validation checks by both Ripple and its payout partners, ensuring security and compliance. By integrating these features, Ripple makes it easier for non-crypto-native businesses to use their services, enhancing accessibility and adoption.
Coinbase, also involved in a legal battle with the SEC, is closely aligned with Ripple’s legal strategies. The Coinbase legal team suggests that, like XRP, secondary sales of Bitcoin and Ethereum shouldn’t be classified as securities. This perspective could lead to a favorable outcome for Coinbase, similar to Ripple’s. However, be cautious about misinformation circulating within the crypto community. Some individuals may spread rumors and false information for personal gain. Always verify sources before believing or acting on any claims.
Finally, let’s look at a comment from Waters Above regarding the XRP chart. XRP is currently testing its local resistance level around $0.60. Some of you might wonder why XRP hasn't reached new all-time highs despite Ripple's legal success. Remember, the SEC vs. Ripple case plays only a small role in XRP's price movements. Broader market dynamics, like Bitcoin’s price action, have a more significant impact. Technical analysis shows that XRP’s price movements are often influenced by Bitcoin’s market trends. Staying level-headed and focusing on solid analysis rather than speculation is crucial for navigating the crypto market successfully.
If you made it to the end of this video, please comment “water” below. Thanks for giving me 15 minutes of your day. I appreciate all your loyal support. Until next time!
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