Ripple XRP: XRP/BTC Breakout Imminent & SBI’s S Coin Trials With R3 To Expand XRP Internationally

by birtanpublished on August 25, 2020

Hey guys and welcome to the working money channel bitcoin on an upward trajectory folks over ten thousand dollars today bitcoin right now trading at 10 251 up 3.3 percent in the last 24 hours

We got ethereum up to 324 dollars up 4.67 percent in xrp trading at .218 up 0.16 percent in the last 24 hours you guys can see here the market cap is at 307.8

Billion so the market cap has grown uh just about 8 billion in the last 24 hours since i made yesterday's video uh so what is the outlook are we going to remain bullish well peter schiff here says two of the

Last three times bitcoin rose above 10 000 in october of 2019 and in february of 2020 it soon fell by 38 and 63 respectively the last time bitcoin rose above 10 000 was in may and it only fell by 15

So what he's talking about here is uh this is bitcoin on the hourly let me put it on the daily here what he's talking about were these trends here so he talks about bitcoin uh reaching

10 000 here reaching 10 000 here and reaching 10 000 here and he follows up by saying uh it fell 38 63 uh and in may 15 respectively so 38 63

15 and so bitcoin obviously testing this 10 000 level well it's about 10 400 give or take 10 500 depending on where you look well um this one obviously a retracement

Before we started a bull run uh at the beginning of 2020 and then this guy's of course the pandemic so this is a bit of an anomaly i wouldn't consider that a typical retracement for bitcoin when he says 63

Percent uh had we not had a pandemic i doubt bitcoin would have retraced 63 and here we're finding a 15 retrace now we're hitting this level again so are we going to surpass this level of

Course the more times we hit the stronger the level becomes if we cannot pierce this level and we rebound again after a fourth time it doesn't look like we will pierce it if it becomes strong resistance so

Uh he's got an interesting point here nevertheless ah bitcoin is looking bullish in my opinion that that is what i ultimately think i think at this point

We have retraced several times and buyers are looking for more bitcoin again we've heard a lot of great news in the space with regards to banks uh and adoption and all this stuff

That's going on and so uh peter schiff uh the pomp is saying then short it if you think it's going to retrace then sure that peter schiff says well also i'm already short on the

Us dollars so i'm making money on that trade too okay fair enough i mean you can't have positions in everything but he's being a little cheeky here you know how big will the next drop be

You know it's so hard to tell still if we still find if we if we find that this gets once it gets up here if if bitcoin buyers and sellers are indecisive again it'll go down and i think we could hit

This level i think that that's the case if if if there is a serious pierce through here at this point then it's bullish then the next level uh would be you know 12 12003 give or take that's my opinion

We really just kind of have to see what happens when it gets to here if it does this or if it just goes straight up xrp doing uh well as well uh if we bring up the xrp chart here we

Saw some significant gains over the last 24 hours and now xrp training at almost 22 cents guys so 0.218 right now uh and again you know xrp is not going to move

Uh or rather you know the gains we're not going to see the same types of gains right away we know in the past it has moved last and fast and so i think it'll be one of those fast movers

Uh near the end and so we got to be prepared for that this from the daily hotel binance reveals five most heavily traded all coins as xrp makes exchange lists of worst performers in q2

So this from binance trading volumes were slightly lower in the second quarter of 2020 than the first quarter with a particularly distinct downward trend for large cap

Assets excluding bitcoin and ethereum similarly all q2 top performers were mid cap altcoins such as lend bnt erd and edo uh each of these assets gained close or more than 500 percent

This most recent quarter was marked by a noticeable decline in bitcoin spot trading dominance as ethereum's rally continued through quarter two coinciding with relative increases in trading of altcoins

Including link and ada uh well both large cap cryptocurrencies bitcoin and ethereum posted quarterly returns of 42 and 69.7 percent xrp remained stagnant xrp has experienced a minimal return of 0.5

Only with its trading volume cut in half which makes xrp the fifth worst performing asset on the platform behind mco tnt stp stpt and b r d x r p the worst performing crypto asset

On the platform until it's not guys this is the thing we have to realize it is only until it isn't and uh despite the fact that this guy keeps flip-flopping yes i'm talking about peter brant here

He does bring up a good point high-profile crypto strategist says bitcoin targeting 50 000 with xrp signaling a potential bull run now he's gone on the record in the past saying xrp

Is crap and he doesn't want to trade it and it's you know he doesn't see any room for improvement yet this is what he's noticing now so high profile crypto strategist peter branson's bitcoin appears to be setting

Up for a big move that will propel the top cryptocurrency to new all-time highs the veteran trader said uh uh right so this was this was a tweet from a few days ago saying that he saw a massive symmetrical

Triangle in bitcoin uh pointing towards all-time highs then 50 000. but this is what i found interesting brandt also sees the possibility of a long-awaited breakout for xrp

And if we look at the xrp btc chart uh he says it's forming a possible inverted head and shoulders bottom maybe ripple labs the bag holder will be able to pull a cat out of the bag ah be still being a bit of an a-hole

Nevertheless i see his point here if we look at btc xrp so here's btc xrp uh and you can see that uh in the past we we saw that reversal once bitcoin started

Slumping here let me bring it over here to the last bull run bitcoin started slumping then xrp gained value up until uh early january 2017 and then you know it's it's essentially been a downward

Trajectory as we know bitcoin usually is the leader of the pack but now we're starting to see this formation here a bit of a pull up xrp to btc finding resistance here and so the trend could continue upward this

Is what peter brant is suggesting that we could see a reversal on the xrp btc chart uh and so he's pointing to what i'm assuming he's seeing this is the head and shoulders possibly okay for an uptrend or rather the

Reverse head and shoulders uh pointing towards an uptrend so i see his point i guess what i don't like is that this guy tends to flip-flop quite a bit and he has in the past you know

Uh just disparaged xrp and so like i don't mind if you change your mind based on chart patterns i don't mind if you change your strategy but what i don't like is when you call a cryptocurrency or a stock or anything

Crap and then you turn around and say well you know look at this there's possibility here you know this is great this is a great trading opportunity if you're going to call it crap stick to your guns buddy this is why i don't call

Anything crap there's always opportunity for everything and at the end of the day guys it's about making money who cares what you think about the actual thing you're

Trading if you're in it to make money now for xrp it is a little different there is a long-term plan there is real world utility so we do get into the projects we do get into the research

For that future price but when you're trading something today it doesn't really matter it's all about putting your money in and seeing it grow right now for instant profits and so in my opinion no need to disparage

Certain cryptocurrencies unless you don't plan on touching it with a 10-foot pole and to me it looks like peter brandt is changing his mind yet again anyway not going to keep dwelling on that one

Thing you got to remember though and guys this is from michael at val valfivlink's on twitter always remember to get into crypto projects even if you are trading on the short term

That aren't lying to you that are deemed respectable projects uh so michael posted this tron lied about their circulating supply since since the genesis block uh says a crypto trader so popular crypto trader crypto

Tone has revealed in a scintillating tweet that tron lied about its circulating supply the trader posted an image from coin market cap which showed that the crypto data aggregator had

Updated the circulating supply of tron this update value saw an increase in the total circulating supply by 5 billion tokens which is an exponential increase this according to crypto tone

Means that tron had lied from its genesis blog about the number of trx tokens in the total supply so again going back to my point here if you're gonna call something crap uh make sure you've got reason to not to

Say that i'm calling tron crap but you know be careful of what you say about what projects are out there i know some people think ripple's a scam that xrp is a scam token but ultimately you know there's so much research that

Points to just the contrary uh and if you are looking to train you know this is kind of a double message i'm giving you guys if you are looking to trade stuff make sure you know enough about it

I mean if you're day trading it kind of doesn't really matter but you know i've heard stories where people have gotten into cryptos where people have gotten into certain stocks

And they were not as advertised and uh suffice it to say it didn't end well anyway not saying tron is a scam but you know if they are lying to you about circulating supply what else are they lying to you about

Gonna keep moving along though guys uh this from xrp crypto wolf ripple is growing rapidly so they're hiring senior dev ops engineers to help build the next generation payment platform that enables banks to instantly settle cross-border

Payments so more uh from the ripple camp here obviously new job postings coming up all the time ripple is growing rapidly and we are looking

For a results-oriented dev ops engineer to help build the next generation payment platform that enables banks to instantly settle cross-border payments to create the internet of value uh our customers are global and expect a

Payments platform that matches their needs and growth the devops function focuses on two main goals customer satisfaction and developer productivity as the product scales the team is tasked

With building and maintaining tools that ease development and deployment of our products as well as ease of support for these products in production and here is the list of requirements what you will do

Uh what they are looking for so devops team looking to continue to expand obviously ripple uh laser focused on creating that internet of value for payments as they mentioned here in the job posting

Anyone want to move to san francisco i guess these days you can work from home pretty efficiently especially during the pandemic nevertheless thought that was interesting this next one here from mickey b fresh

At mr fresh time on twitter state street says bitcoin and other digital assets will evolve to trading on a blockchain dlt expect institutional spot exchanges to trade crypto and tokenized assets on

Dlt infrastructure this current market infrastructure of off-ledger trading is coming to an end soon so think about this uh institutionalized traders want this to be as regulated as

Possible so that they are compliant they are investing millions of dollars in some cases and so uh with cryptocurrency regulation comes a lot of red tape and this guy i think sums it up quite nicely let me just play

You this clip this from das markets this was a panel from last year 2019. so i think you know what one of the reasons we are very interested in the crypto market we're looking at number of use cases is

You know the way bitcoin trades and the way bitcoin is going to evolve is the same way any other asset that's going to be involved right trading on a blockchain so that to us is exciting and one of the

Reasons we are very interested in the crypto market we're looking at number of use cases is you know the way bitcoin trades and the way bitcoin is going to evolve is the same way any other asset is going to be

Involved right trading on a blockchain so that to us is exciting and we think you know that is a market that's going to you know right now is burgeoning i think the clip pretty much ends there

So trading bitcoin on a blockchain really exciting for institutional investors no more of this off ledger trading i got to thank mickey b fresh he posts a lot of great videos uh does

Contribute quite a bit to the space and so guys institutional trading think of it what we've been seeing thus far has been mickey mouse trading uh and you know when these guys get into the space we're seeing bitcoin right now

At ten thousand well think of where it will go when millions and millions and millions of dollars are going to be pumped into the space think of where the stock market is think of the market cap

Of all the stock markets around the world now think of bitcoin and think of how small it is in comparison and uh crypto in general now think of grayscale think of all these companies that have added uh

Digital assets to their uh baskets of uh investments for some of their traders think of the type of products that are being released by grayscale like the gbtc uh trading index that uh they currently

Have as a product and now they just introduced i believe it was uh no it was a bitcoin cash one and a litecoin one as well so this space is just going to get bigger and bigger more money is going to

Flow in which means more people are going to own digital assets and thus if there is more demand the price will go up just remember that uh i got this one here from michael adval 5 link so ripple has already found

Widespread use in markets like west africa as crypto slate reported earlier the firm's partnership with guaya money in ghana uh allows thousands to transfer between african borders so africa

Obviously one of these big uh big geographic regions that uh where there's a need for uh seamless cross-border payments many people in africa still unbanked and ripple has gone there and

Uh is solving the problem quite successfully and so this article just discussing uh why crypto is more crucial in the post-pandemic world now than ever and this taken originally from ashish

Berla's discussion on the ripple insights website so i just wanted to start down here burla noted that interest and demand and digital payment services are escalating this is as people are around the world

Increasingly require access to instant and reliable means of paying and transferring money however currently available payment methods don't quite facilitate these needed attributes

This is partly because of complicated legal arrangements and counterparty risk which in turn create delays and inefficiencies but the above is a litmus test for digital currencies and real-time

Settlements the latter's ability to fulfill payments across international borders within seconds is required in times of uncertainty such as now he noted much of the demand for instant

Payments can be attributed to the swiftness of data availability in today's world burlap points out the instantaneousness of retail centers commercial zones and other

Experiences have highlighted the demand and need for more efficient ways to settling payments he noted the demand and fervor to shift to real-time payments among consumers is real you don't need to look any

Further than the fact that payments via mobile wallets have now outpaced credit card transactions in countries like thailand vietnam and indonesia and how does ripple fill the gap well burla calls for blockchain and digital

Asset technology to be utilized leveraged as a crucial component for speeding up the settlement process this is partly as blockchain technology allows businesses and

Financial institutions to transact and accept payments directly eliminating the need for the middleman and so we have heard this term before uh and and he uses the example of swift

As that middleman so think about it for a second if you can get your payment from from point a to point b without a middleman why would you choose to use a middleman okay this just gives

Banks and financial institutions more reason to want to use ripple and use xrp to source that liquidity uh think about the way our world is going think about 30

40 years ago when we would book travel through a travel agent okay i'm just giving you an example here and now we go to websites like expedia.com and we can do it ourselves ultimately eliminating that middleman so

Sure uh this means that people will lose jobs of course but the efficiency and cost effectiveness becomes greater cut out the middleman if you can do the job yourself why not do it if you can

Save some money it's more streamlined making it more efficient so this is just one example of cutting out the middleman and uh you know ripple is essentially doing this uh with their technology with

Dlt utilizing xrp to source that liquidity again remember eliminating nostra and vostro accounts removing the middlemen even like with tier one

And uh tier two bank relationships tier one banks would be able to sell their services to tier two and tier three banks uh so that those banks customers could send money across borders uh utilizing

The tier one bank's nostro and vostro accounts well now with ripple net and being able to source liquidity through xrp that is no longer needed so now tier one banks who were the middle man

In that scenario are no longer needed of course they've got their primary business and now tier three and tier two banks can send cross-border payments just as efficiently uh it eliminates

That type of business which ultimately doesn't uh make big banks happy nevertheless it levels the playing field and so this is ultimately what ripple is set out to do uh then they talk down

Here about west africa and their partnership with young money so west africa obviously uh there's a big need to resolve this friction in these corridors and ripple

Is doing just that so i wanted to thank michael adval five links for posting that uh and this again a uh a sum up of ashish burla's insight on that removing the middleman is what is going

To create more efficiency in the future we've already seen it in certain industries and we're gonna continue to see it with banking another one for michael uh 85 percent banks across italy are using

R3's quarter blockchain to vastly speed up the process of double checking transaction logs so sylvia tennessee head of innovation at the italian banking association

Said both the processes of interbank reconciliation and the technology underlying the exchange of data had to change in the old system reconciliation took a long time

And was unpredictable the average time for reconciliation was between 30 and 50 days atanacio said on quarta reconciliation is completed within a day the interbank agreement a part of italian law

That governs interbank transfers was passed in 1978 and describes a process of banks sending physical tapes once the interbank agreement was updated in may 2019 to include data

Standardization italy set a window between march 1st and october 1st 2020 for integration to that standard and a blockchain that banks could use to follow the new rules

They are doing this guys all on quota uh and we know the court of settler can settle with xrp so uh almost 100 of italian banks are on this system and uh italy uh you know starting to blaze trails

Within the banking sector and uh becoming one of those countries that is becoming more and more integrated with blockchain and dlt anyway not going to continue going over this i will link this article in the

Description if you guys want to read further we also got this guys from the daily hotel ripples director of product launches xrp payments and e-commerce platform

So ripple's director of product is rolling out the beta version of pay burner and xrp based e-commerce payment platform this from craig dewitt he says pay burner is designed to make it extremely

Easy to send and receive instant global payments the new product which started as dewitt's side project functions as a non-custodial wallet dewitt says the responsibility of safety

Storing the funds falls on the users as payburner won't have access to their passwords pay burner also allows users to send and receive payments using pay id

Which is really interesting you guys can see down here crypto cow buy or cwby dollar sign payburner.com maybe that's craig dewitt's address if you want to send them some crypto uh users can set up their pay id upon

Sign up which they can share to enable instant global payments to send payment users can simply input the pay id of the recipient enter the amount of xrp to send and click send to request payment users can input the

Pay id of the person they're requesting money from enter the amount requested and add an optional message so this platform obviously interconnected with xrp dewitt says

The merchant must have a pay burner account to enjoy the easy to use checkout feature to facilitate the process the ripple executive points out that they are done integrating the pay burner plugin with

WordPress making it available to approximately 455 million websites and he's going to charge a small fee we expect to make money from the one-click merchant payout experience by requesting payments

From merchants at one percent of their received xrp e-commerce purchases peer-to-peer payments and peer-to-peer requests are not charged any fee pay burner does not have the ability to withdraw

Funds from any account and we are not in the middle of any transaction so we send requests to merchants for fee collection dewitt notes that the pay burner plugin currently

Supports chrome and brave browsers with the promise that the platform will be available in more browsers and ios and android apps so uh pay burner obviously uh making improvements to the platform now you can

Uh link up your pay id send crypto immediately and guys did you see this s coin news with sbi uh crypto erie originally posted this going back to february 2019 an in-depth article of sbi's s coin

Platform which was first built with orb would be changed to use r3 corda and xrp would be used to expand internationally so this article originally from back in february so let me just bring that up for you it was a japanese

Article and so i had to translate that to english aiming for the osaka expo sbi's s coin r3 will be replaced with quarta of x3 to expand internationally

And the market capitalization of virtual currency ripple exceeds that of bitcoin so yoshitaka katao of sbi holdings held the financial result briefing on january 31st uh interest so again this was from last

Year guys introduces important remarks related to virtual currencies and the content of the q a held after the financial results briefing about the virtual currency market so uh qatar

Described the virtual currency blockchain market as follows utilizing the sbi ecosystem create a culture of effective use of blockchain personnel with specialized knowledge are assigned to conduct meetings and

Research sbi virtual currencies will become an exchange by starting board trading in march this year although the market is currently slumping various things will be the initiator in the future

Governments around the world need to create a system for regulation so that investors can feel at ease to that end we are in the process of introducing a system that can ensure safety alternatively we are considering

An attempt to reduce the volatility price volatility of cryptocurrencies by involving institutional investors for example we are considering creating and selling funds such as incorporating 20 to 30 percent of virtual currency

And making the rest into stocks and bonds the preparations have already been completed and we are waiting for the time when regulations will be set such as an enactment of a new bill uh

Let me just go down here for a sec do they talk about they talk about it here right they talk a little bit about the uh money tap integration here as well the goal to make money tap is global

Uh money tap right a payment application for smartphone ios right right technology the virtual currency ripple xrp that we are invested in can become global in the future it is no longer an

Era of huge atm costs no charge for 24 hours no remittance fees you can use your smartphone send a qr code and then down here they say because xrp is already starting to

Become international and within 2019 x rapid will be used by money transfer companies now known as ripple net and odl by increasing the so-called xrp's vertical use we expect that the market

Capitalization of ripple xrp will soon exceed the market capitalization of bitcoin so sbi saying that the market cap of xrp will exceed that of bitcoin uh in here though they did talk about s

Coin and uh from what i understand that was a coin uh for municipal use i believe for certain utilities paying your taxes stuff like that it was uh launched citywide back in uh i

Believe it was last year in south korea in seoul uh as a test run and as crypto erie mentions here it is now going to be integrated a change to use our three chord and xrp

So that it can be expanded internationally so uh to this regard here is the statement from just today sbi launched s coin which will use r3 corda and stated pilot tests for

Sbi group this month sbi built the s coin platform and money transfer smartphone money transfer settlement app provided by money tap and plan to use it as a digital currency issuance platform

In the future so uh this just from today with the s coin platform built using corda it is possible to design and issue a unique digital currency according to the applications such as electronic money

As a prepaid money instrument and sbi issues it in this demonstration experiment it is used to issue the payment coin s coin in this demonstration experiment we built a mechanism that works with this s

Coin platform and money transfer a smartphone money transfer settlement app provided by money tap co a subsidiary of sbi so uh this is just a statement with regards to the current testing that they

Are actually going to be testing it this month july 2020 and they have already started so that will essentially expand this platform internationally i got to thank xrp crypto wolf and crypto erie for

Posting this on twitter and guys if you just look at the amount of interest uh in cryptocurrency since 2018 now this from central banks around the world they're becoming increasingly positive

About digital currencies this from xrp crypto wolf as well posted this graph here so the catalyst for a cbdc is the virus pandemic china cbdc and the upcoming launch

Of facebook's libra so we have three factors here that have really kind of initiated or rather sparked the interest of these banks and financial institutions to become more interested

In cryptocurrency you can see negative sentiment throughout 2017 and into 2018 2018 it was at an all-time low and then from there positive sentiment started creeping up now we are in 2020 and sentiment is at an all-time high

This is why we're seeing so many developments in the space this is why we're hearing so much great news right now so we got the number of central bankers speeches on digital currencies buy sentiment

Uh retail sentiment and wholesale sentiment in light and dark blue respectively if you're not looking at the screen right now uh guys i will link this in the description if you want to look at

This chart uh so another great one from xrp crypto wolf but i want to end off on this because i thought this was quite poignant this from avustin on twitter the 2015 bull run was

Visionaries the 2017 bull run exchanges the 2020 bull run will be banks so anyone saying this is not possible has no idea what is going to happen zero nothing clueless

Limited people have limited vision and i couldn't stress this more if you can't see that this is going to be one of the biggest opportunities in a generation

You are blind us cryptocurrency hodlers i almost feel like you know whether you hold i'm not going to say any cryptocurrency but if you hold any of the top cryptocurrencies you will likely do well in the next 10

Years regardless it'll kind of be like the dot-com boom for a while until a lot of these cryptocurrencies just fall off the face of the planet and only a handful will survive the ones

That will survive though will provide solutions for real world problems including xrp and maybe a handful of others but guys that's just my opinion 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

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