Ripple XRP: How Long Will BTC Rally & When Will XRP Pump Hard? Did NEO, XLM & XMR Just Get Delisted?

by birtanpublished on August 24, 2020

Hey guys and welcome to the working money channel bitcoin on the move guys it breached eleven thousand four hundred dollars yesterday now bitcoin trading at about ten thousand nine hundred we saw a bit of a

Retracement here and it's uh still pushing its way up not making any lower lows still making higher lows here and guys you know what this means bring it back to the daily here bitcoin

Has finally breached this level here of resistance this target that we've been eyeing for a while now it has finally breached it touching it after a fourth time and now you can see it's uh it's just

Hovering around here around this level uh the next level of resistance to break for bitcoin is about 12 300 so let me actually delete that i will grab this line here and move it up here

That is the next level of resistance that we need to break in order to continue seeing the trend move up and guys this is great for the entire crypto space we're seeing xrp

On the move as well uh albeit not as much movement as bitcoin xrp right now trading at 22 cents and guys if we look at the entire crypto market here bitcoin uh training at 10 9 ethereum 316

And xrp 22 cents uh bitcoin still the leader of the pack some altcoins doing all right uh bitcoin cash and bitcoin sv following in that trend with six point two nine percent and six point one four percent

Other old school coins like litecoin up 9.32 percent uh so it's looking as though a lot of the uh proof of work coins seem to be moving higher with

Bitcoin i suppose traders are assuming that those are more similar bitcoin dominance at 62.9 percent the entire market cap at 320.2 billion dollars so it is growing by leaps and bounds

Every single day is this rally going to continue what is this going to mean for xrp so if bitcoin continues its rally i could see realistically xrp reaching this 34 7 mark so this mark up

Here this is where we need to break in order for xrp to continue its bullish run and guys i think a lot of this is going to have to do with what bitcoin ends up doing now there are a few

Schools of thought here uh we are seeing crypto's rally uh kind of in tandem-ish with bitcoin but then we're also seeing some altcoins uh lose some momentum like we are seeing uh the other day

Chain link and v chain uh losing some momentum against bitcoin and still we're seeing negative numbers for v chain and chain link respectively uh and those aren't just the only ones uh stellar has lost some momentum tezos has

Lost some momentum cosmos has lost some momentum boy ample fourth down 26.9 percent also so what's going on you know is there rhyme or reason in the space should you be getting into a different

Coin because you want to chase the rally no the fact of the matter remains do not chase rallies your coin will rally this is just the beginning folks

Again this is not financial advice nor am i telling you what you should be doing i'm just letting you know based on the insight that i have to wait okay i have a feeling that once

Bitcoin breaches this 13 900 level that we saw last year this level up here it won't be much longer before we see it break its all-time high of about 20 000 and then we're off to the races the

Sky's the limit so xrp needs to break 35 cents that is the next stop for xrp sure there's this little level of resistance here uh but i'm not too interested in that this is the biggie 0.346 roughly 35 cents in order to see

Xrp rally further so what do we have bitcoins five-star show may go on for a month some people suggesting we're going to see this rally through the rest of the summer with

Bitcoin breaking 10 000 for the third time this year and going on it's made in big money move since the having prospects are high like all moves from four to five figures this one was initially met with

Startling enthusiasm however given the market we're in now how long can the market sustain above 10 000. while i personally think that this move above 10 000 is uh much stronger than the last

Time this is the first time we broke that level and it did actually rally up to 14. we had some time a cool-off period for sellers to sell their bitcoin and now the rally moves up again a year

Later so enthusiasm has been renewed the present move above 10 000 is different from the previous two surges in quarter 1 2020 which were caused by global political tensions and the looming oil

Crisis even 2019's 10 000 moves the first in june due to the libra excitement and the second in october due to china playing fast and loose with bitcoin and blockchain

Stand in contrast to the july 2020 move so again there were reasons for those moves in the past and a lot of it was based on some irrational news you know emotion uh but this uh seems more like a

Fundamental move above 10 000 in a lot of ways they're suggesting here that it is no surprise that gold the traditional safe haven assets surged to 1900 its highest point ever so also

Uh considering bitcoin in that same realm with gold uh g-o-l-d where's gold so gold also at uh 1929 right now seeing a big move up uh bitcoin also seeing that big move up so alternative assets a hedge against

The stock market here's the s p 500 and uh we're still seeing you know uh the recovery but a lot of people realizing this isn't necessarily a true picture of how

Healthy the economy is so in what direction will the price move looking at the annualized rolling basis for both monthly and quarterly bitcoin futures contracts there is room for a short-term burst

Followed by a slowdown with bitcoin's price in prime focus just gonna move down here and guys i always link these articles in the description but with bitcoin's price and prime focus of not just the cryptocurrency market

But also the investing world the next few months will be telling however as things stand economic uncertainties liquidity overflowing and stock markets struggling is a positive sign

For the cryptocurrency a lot of the traditional reasons why they think bitcoin will continue to soar and that will ultimately bring all coins up with it i also saw this from michael at val five

Links on twitter back just reported the largest single day volumes uh for a while so fueled by bitcoin's rise back reports record high volumes for bitcoins futures market back just reported

The largest single day volumes for its physically settled monthly bitcoin futures contract on monday bitcoin futures market saw a new all-time daily high of 11 500 per btc an amount worth nearly 114

Million based on the closing bitcoin price as reported by coin market cap and you guys can see here the volume has just uh grown for bach's futures market uh guys again i will link this article in the description for those of you guys

Interested in reading that another post here on twitter from matt matthew liny when the elite want to hide money they will send it offshore to a location that does not

Kyc and so this ties into what's going on nicely because we have bitcoin we have people making money backed futures for bitcoin are at an all-time high uh we're assuming that bitcoin is going

To continue to rally and so what do the rich do when they make money well they try to pay as little taxes as possible so matthew just uh pointing us to this list of mutual funds this is from the cayman

Islands digital asset management and here digital asset currency fund the alphabit digital currency fund was registered back uh in march 2017 so uh just uh an interesting little

Tidbit there wanted to keep moving along though us crypto exchange coinbase now has 35 million retail and institutional traders obviously probably a milestone for them the leading u.s crypto exchange coinbase

Says its user base of retail and institutional traders has grown to 35 million so what does that tell you it's about 350 million people in the united states maybe a little over that one in 10 americans

Is signed up for coinbase now i'm sure coinbase has uh users all over the world but just to give you guys some perspective on this in its crypto h1 2020 report the san francisco base firm says

In the first half of 2020 it witnessed a significant uptick of institutional investors such as multi-strategy hedge funds venture capitalists leading university endowments and large family offices that directly buy digital

Assets today coinbase operates the third largest regulated exchange in the world a central pool of liquidity that combines the assets of our 35 millimeter retail users and institutional clients

The exchange says a growing number of these institutional clients are convinced that cryptocurrency particularly bitcoin offers an alternative to the current financial system

Regulated by central banks so when influx guys this is what coinbase is seeing of institutional investors multi-strategy hedge fund venture capitalists leading university endowments and large

Family offices that directly buy digital assets money is flowing in this number is just showing us the beginning i have a feeling that as this rally continues

We will see this grow and grow and grow and i think at an all-time high in 2017 we were at something like 850 billion or something like that and that number is actually relatively small compared to other major

Uh assets that people invest in around the world so the cryptocurrency market growing by leaps and bounds and coinbase also telling us this in their report i'm just going to read this uh quote down here investors are

Still in the early days of untangling the relationship between macroeconomic policy and crypto but we are seeing a growing base of our institutional clients

Organizing around the thesis that bitcoin specifically provides exposure to an alternative monetary policy system with supply mechanics that are diametrically opposed to those

Of central banks in 2020 scarcity versus expansion predictability versus uncertainty decentralization versus centralization software versus humans so they are investing

In crypto currencies like bitcoin specifically uh to hedge their bets against the traditional system interesting to note there guys this next one's about david schwartz he always has

Some interesting things to say and did you know that xrp wasn't necessarily created for its intended use case in the beginning another one here from the daily hotel xrp was created before

Use case for crypto asset was discovered says ripple chief technical officer so this uh a podcast with david schwartz and comparing it to bitcoin suggesting uh that the alternate theory and our

Theory was that what made bitcoin so amazing was not in fact the proof of work and not mining what made bitcoin so amazing was the fact that all the data was public and that all the transaction rules were

Public so you don't have to ask anybody else if a transaction is valid or if somebody has a particular amount of bitcoin or anything like that so they looked at proof of work

Realized that they could do better and certainly they did after xrp was built short said the next step became to figure out how it could be used so once you say okay we've built a new

System that works the next question to ask logically is what is it good for what are the advantages sometimes it might have no advantages if you invented a new material and then it

Gives an example of a new material that is heavy expensive makes water damage and not very sturdy well then it's kind of useless right short said ripple ultimately decided xrp would be used for international payments

Given its speed low transaction costs and the significant amount of issues plaguing the current banking system of course we all know the story of this xrp was created out of bitcoin's particular shortcomings

Uh they created a system and uh they knew proof of work wasn't the answer for a lot of reasons i'm sure the use case that we settled on was payments particularly international payments simply because

That's where the pain was so if you want to find a problem that people agree is a problem and ideally the worst problem the less perfect you have to be to be better than whatever you've got

International payments were so bad particular things like remittances were just so bad that we could still be pretty bad and still be better so obviously using xrp for that use case and that's how it came

To be they created the cryptocurrency obviously realizing bitcoin had its shortcomings created xrp found a use case and now focusing with ripple the company on driving that into banks financial

Institutions to really revolutionize cross-border payments and many crypto enthusiasts in the space think that ripple is going to be the company and xrp is going to be the token

Exclusively to work with banks and financial institutions so this from michael and val five links posted this here and this poll was from sarah austin an oracle manager and ex forbes employee uh and she said bankers

Should join the fintech revolution if they want to stick around for the next 100 years what blockchain technology is the most prepared to work with banks and ripple an overwhelming 83.3 percent

Out of almost 4 600 votes uh suggested ripple so why is that significant for the next 100 years you've got to remember when banks change technology they're not changing it every

10 years 25 years they are going to keep this system for the foreseeable future and i have a feeling ripple will continue to build on the xrpl but xrp that cryptocurrency that can

Source liquidity is going to be invaluable for banks and fis as the years go on so blackwell global why banks prefer ripple in a similar development a uk based finance company

Blackwell global has revealed reasons why banks would prefer the ripple blockchain over other blockchain technology in a recent blog post pointing to the fact that ripple unlike

Other cryptocurrencies offers services capable of revolutionizing the services rendered by traditional financial institutions this makes it an outstanding blockchain the first reason as outlined in the post

Is the distributed nature of the ripple blockchain which enables instantaneous simpler and faster cross-border remittances as well as management of liquidity ripple also helps

Finance institutions have real-time data about transaction before execution and it eliminates the role of the middleman thus reducing transaction costs the company further compared paypal's transaction cost of

Three percent of the fund to ripple's remittance service where only point zero zero zero zero one xrp is charged for a transaction you know how much that's worth guys if xrp is trading at about 22

Cents today times point zero zero zero zero one equals what is that point zero zero zero zero zero two two of a penny that's how much it costs to make an xrp

Transaction and you know even if xrp was trading at five hundred and eighty nine dollars let's say the transaction cost would be .005 of a cent i hope i got that math correct i

Didn't plan this part out of the video anyway uh if i got it incorrect put it down in the comments i i for whatever reason that seems very very low nevertheless guys this is going to be a game changer banks

Know it and it sounds like the populist knows it as well secondly the ripple blockchain technology aside eliminating high cross-border transaction fees offers an amazing speed

In processing payment it uh takes ripple four seconds to process a transaction that will take banks three to five days to perform comparing this with ethereum we know ethereum takes up to two minutes and uh

Bitcoin takes a heck of a lot longer the ripple blockchain scalability and stability features were also mentioned as the basic reasons why the san francisco-based blockchain is cherished by bankers

Ripple unlike other blockchains has maintained a stable track record over the years and had closed all its ledgers without any problem also the ability of ripple blockchain to handle

1500 transactions per second makes it stand out in terms of scalability the public knows banks know that the world will run on ripple because banks aren't going away anytime

Soon got another one here guys uh this from matt matthew liny on twitter the digitization of everything blockchain technologies and beyond the cme group central bank of brazil policy panel we got to remember this

Happened back a few years ago 2016. if you can't see what's happening i don't know what else to tell you this is a quote from xrp underscore owl uh some of you guys might know him as king solomon on twitter and that is a great

Quote if you can't see what's happening i don't know what else to tell you just kind of leaving it up to you the digitization of everything so again an oldie but a goodie

Taking a look at some of these uh companies uh that were part of this panel from way back when citibank we know has been testing ripple and actually a partner of ripple accenture we know a partner of

Ripple we got the dtcc uh engagement here jp morgan a lot of american banks here the nasdaq deloitte credit suisse so why will digitization change financial services potentially significant cost savings and new

Opportunities and we know guys ripple and xrp can fulfill that requirement it is scalable it is efficient it is fast it is cheap all those things that big business needs

In order for them to continue to make money i thought this was interesting from uh michael at val 5 link's neo xlm and xmr so apparently those were just three of the

Uh crypto major cryptocurrencies i mean i've heard of all those cryptocurrencies three of the 29 that have currently been delisted on liquid exchange so this is a japanese cryptocurrency exchange liquid

Uh they've de-listed 29 cryptocurrencies to comply with the crypto regulation in singapore in an effort to become a licensed crypto exchange operator in the country singapore has been enhancing its crypto

Regulation in line with the standards set by the fatf so guys this might be something to keep an eye on uh depending on where you are and i mean i guess this could happen anywhere not

Just in japan it could happen anywhere based on your country's cryptocurrency regulatory clarity due to heightened compliance requirements set by singaporean

Regulations some listed tokens cannot continue to trade on liquid and will be taken off the markets uh some of which are xmr neo and xlm now some of these other ticker symbols i

Do not recognize offhand but xlm like i mean they really are gunning hard uh to be regulatory compliant if xlm gets de-listed on the liquid exchange where could it be de-listed next not

Only that guys how is that going to help uh other cryptocurrencies with higher market caps gain more momentum in this bull run you got to remember once these coins get delisted

That liquidity's got to go somewhere and uh you know it's all part and parcel to this idea that there are going to be so many cryptocurrencies that just vanish after this next bull run and i think

You know depending on what exchange you guys use keep an eye on what your exchange may be delisting in this next run make sure you don't have any investment in that particular coin

This could be really great for cryptocurrencies like xrp uh compliant currencies like bitcoin ethereum coins that haven't been deemed securities so uh definitely something to keep an eye on in this next run

We've got this from xrp crypto wolf a director at the imf said the private sector would bring value to supporting central bank digital currencies so this is tobias adrian and uh he is

Saying the private sector could actually help this initiative out uh so he's a financial counselor and director at the imf's monetary and capital markets department

He gave a keynote address last week at the building cbdc a race to reality conference sponsored by blockchain software firm r3 adrian offered two models for the provision of a cbdc varying in how they

Would pair the private sector with central banks the first model looked at synthetic cbdc's which are backed by the liabilities of a central bank but issued with the aid of a private entity such as

A commercial bank adrian noted the private sector should be left to deal with consumer due diligence wallet design and currency distribution while the central bank would be in

Charge of regulation and supervision the second two-tiered model puts central banks in charge of the issuance of a cbdc and transaction settlement with technology likely to be occasionally updated

As such the scbdc model would spur private sector-led innovation at a more fundamental level he said such innovation could be extremely valuable given the pace of technology change and given many

Central banks limited experience in providing retail services according to adrian so guys i will link this article in the description if you want to read further it's essentially uh point form notes here

From coindesk with regards to uh the director of the international monetary fund and what he thinks should be the future for the private sector in relation to uh central banks and cbdc

Issuance i feel like i'm moving along fast but i think we need to do this because there's lots of information today keep moving along with uh martin vaulk now i saw this the other day

And martin it's good to keep reiterating this because sometimes people just don't get it uh so this is an xrp reminder okay when money is transferred from one account to another account within the

Same bank there is no need to actually transfer any cash and he puts in brackets settlement it's just an update in their account system in brackets payment okay when money is transferred

From one account to another at different banks but still within the same country both banks would have an open account with each other resulting in an update in their accounting

System payment no money gets transferred settlement the banks would work with a system called deferred net settlement which occurs between participating banks at the end of a predefined settlement

Cycle they might choose to settle the accounts and thus transfer the money at the end of the year however even that is not needed as they will continue to do business together as long as they do so no settlement is

Needed but xrp is that bridge currency and uh as the name suggests bridges currencies and is used for international transfers the great thing about using xrp is that

It settles instantly if all you do is transfer money within your own country you won't need xrp which makes sense this has everything to do with the trust between banks of both parties

So again international transfers that is where we will see most xrp usage at least at this beginning point this is what ripple is targeting of course there are going to be many

Other use cases for xrp down the road but this is kind of where you need to focus your thoughts on uh eg6 asks do you think banks would want to settle at the end of each year or clear books monthly or weekly or daily and

This is a good question because if this settles instantly like we've talked about in the past at your job if payroll becomes much easier because money settles instantly theoretically

You could get paid by the hour once you clock in you've worked an hour of work you'll get paid for that hour and then as soon as you clock out that's when you will stop getting paid

And you could theoretically get paid every day with blockchain technology because it makes the process simpler there's less friction so eg6 asks uh monthly weekly or daily

Changing the current process and including security to each transaction even within their own institutions uh martin vault says in my opinion everything will eventually move to

Instant settlement but realistically it will take time to get there so great point that he makes here uh and i wanted to bring this up because there was this post that i saw here from shade

Dash xrp uh and this is an old article from 2018 but i thought it was important it has to do with citibank and so here's the pdf i will link it in the description uh they talk about what is

Ripple how it is different so really kind of giving you the ins and outs of ripple and the xrpl discussing how ripple xrp improves upon bitcoin by doing away with mining which is energy intensive and inefficient

Ripple does this through a technique called consensus which is a way for the entire network to agree on the current state of the blockchain okay so it gives a description on that

Again this document old but very very significant for where we see banks american banks going in the future now digicali asks the following page 106 says ripple tech unlikely to help tier 1 banks such as

Citibank because of transaction size for large payments but rather help tier 3 banks with smaller payments and galgatron actually responds until odl can help tier one banks

Liquidity just keeps growing and so part of this is building the liquidity building it in those exotic corridors and uh you know the tier three banks those fintechs those companies those

Guys that create apps where you can flip money back and forth instantly those ones that run on ripple the mercury fx's of the world those guys will really benefit first and what gagatron is saying here is that

Odl will keep building which is good for the ecosystem until tier one banks finally latch on they will be the final ones uh and this was even stated by brad garling has a couple of years ago

They are likely to be the last ones on board and digit kelly says i'm trying to wrap my head around this volume in tier three builds price price and volume builds corridors demand suitable for tier two banks nostro and

Vostro volume corridors price adoption then tier one banks and galagatron says perfect so just to reiterate the volume is built with tier three banks then the price and volume build in these

Corridors demand is suitable for the tier two banks to replace their nostro and vostros volume corridors price adoption then once we have the ecosystem mature enough that's when tier one banks

Will jump in because those are the ones that will need to target those high value payments or are rather more likely to target those high value payments so that is uh just one example of how we are going to see

Xrp price rise thought that was kind of interesting thanks so much shade xrp and galagatron for adding in your two cents oh and just to add on to this uh march 2018 was uh when this document was published the bank of the future

Document uh and this just from a few days ago city has hosted this from wrath of conomon by the way city has hosted an american banker article that mentions ripple briefly it is a change in tone from some earlier

Documents so this also from citibank from just recently and uh it mentions banks initially viewed ripple as a competitor though increasingly banks are partnering with ripples so

Uh this uh just points to the fact that uh citibank and i'm sure their colleagues as they do all talk their buddy buddy at these conferences uh realize that ripple is actually going to help them

Do better business rather than thwart them by stealing their business so i thought that that was very poignant and i'm glad i found that tweet from wrath of kahneman on twitter with regards to citibank

Considering uh this article is a couple of years old now so guys we're getting excited by this bitcoin bull run uh our alts will rally bitcoin is the first to move as

We've seen in the past so uh something else i want to just remind you guys is this tweet i saw from the cryptic poet at one cryptic poet on twitter here's how crypto bull runs work guys so just remember this new wave of investors

Discover bitcoin bitcoin price rises media hypes it once in investors discover other crypto projects with potential like xrp ethereum alts etc investors will now trade and buy alts

With their bitcoin earnings bitcoin cools down alts pump rinse and repeat so let's not forget bitcoin is pumping now this is still in phase uh this is still in phase well

Media hasn't hyped it yet so bitcoin price rises this is we're still in phase two now once the media hypes it will see some really big exponential growth uh i think with bitcoin we saw it back

In let me just bring it back to the bull run of 2017 we saw it back here when the media finally wanted to report on this uh people went crazy then bitcoin cooled off and it wasn't until the end of the end

Of december so in and around here after we saw this dip that altcoins really took off and that's when we saw some major gains for altcoins so remember if you're investing in alts

We got to wait a little longer we gotta wait until bitcoin hits that all-time high surpasses that all-time high and then that first pullback i think that's when we're going to see money dump into alts

And at that point that's when we need to be prepared to cash out so essentially all you have to do is hold people can you do that i know i can but i want to hear what you guys think please subscribe to the

Channel if you haven't already like the video if you like the content i'm providing i always love hearing your comments see you in the next one guys you

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