Is the Ripple case behind the Kaj Labs trial
in Brazil? Kaj Labs is blockchain in Seattle that has partnered with Brazil’s Central Bank
to help the roll out of CBDCs. Here’s the most interesting part about this story; the company is
grateful to Ripple since it developed a network that allows cross border transactions at
a low cost. Ripple has paved the way for other innovative features such as Lithosphere.
And to that effect, Kaj Labs donated $95 million to Ripple’s legal defense. A few days later, Kaj
Labs actually scores a contract with the central bank to help develop the country’s CBDCs. So
is all that a coincidence or a planned thing? Anyway, I believe Ripple is making steps in
the right direction by partnering with some of the elites and in this instance, Kaj Labs.
In the event the lawsuit doesn’t go their way, Ripple will still stay afloat and their
vision of the future will live on. But that can’t happen because you know what, I
feel like the SEC is the problem here and not Ripple.
If it was another regulatory body,
chances are, this court case could’ve been completed. But the SEC keeps dragging the
case for as long as possible for their own selfish gains. All in all, today, I have a
lot to share with you guys. So before we get to the nitty gritty, let’s roll that intro.
What’s up guys! And welcome to Money Side, your favorite crypto channel. If you are
new here, hit that subscribe button and turn on the notification bell to get updates whenever
we drop new videos. To my Money Side Fam, welcome back. Show us some love by smashing that like
button and commenting in the section down below. Look at this tweet; do you get its true meaning?
David Schwartz sent this image of a plane with the Star Wars logo on it.
The idea is to show you
that XRP is about to head straight to the moon, which will happen soon. Yes, that’s
right! This coin hasn’t been moving a lot, and that’s typically because of the suppression
that’s currently happening around XRP. After Brian Armstrong decided to back Ripple
in the legal fight, the whole Ripple community is rekindling the old XRP Army. They are
all vouching for Coinbase to relist XRP, which will be a major news in the crypto
world. That also means XRPs price will go through the roof in days if not minutes.
The pressure continues to mount especially towards the regulatory body after their recent failure
trying to sue Coinbase.
Also most crypto exchanges that delisted XRP are now being pushed to relist
it amidst the SEC settlement. When that happens, be prepared to witness the next lot of crypto
millionaires and that’s all thanks to XRP. The XRP Bull Run is something that will continue
for as long as possible once it’s starts. That’s because this coin has been garnering support
from all sides including the fiat world which means when it starts to move upwards, it will not
stop until it hits a record new all-time high. Next, we have this tweet from
@XRPcryptowolf that says; “SEC Chair Gary Gensler hints at enforcement
actions against Crypto firms. Apparently Ripple and XRP aren’t enough for him.”
Following up on this, we can see on theblockcrypto.com that At the
Securities Enforcement Forum on November 4, Gary Gensler denied that new technological labels
alter the realities of securities definitions, specifically calling out decentralized
finance and crypto products. Gensler, who chairs the Securities and
Exchange Commission, said: "Sometimes, people focus on labels. For example, we hear terms
like 'decentralized finance' (DeFi), 'currency,' or 'peer-to-peer lending.' It can seem easy to
take these words at face value.
Make no mistake: regardless of the label or purported mission,
we will be looking at the economic realities of a given product or arrangement to determine
whether it complies with the securities laws." Gensler has made no secret of his belief that
many cryptocurrency-based products fall under existing definitions of securities, citing the
need to assess based on facts and circumstances, not new taxonomies. This is despite many in the
crypto industry asking for specific guidance on, for example, which tokens are and
are not themselves securities. Later, referring to an accusation that
many have leveled at the SEC — for example, in the ongoing case against Ripple over
XRP issuance — Gensler said: "Some market participants may call this 'regulation by
enforcement.' I just call it 'enforcement.'" Moving forward, we have another
tweet from @Ripple that says; “What does it take to achieve the
full potential of digital payments? It starts with collaboration.
#ICYMI We joined
@DigitalPoundFDN to work on the development of #CBDCs in the UK. – Head to our blog for details.”
If we head over to Ripple.com, we can see that; Ripple has joined arms with the Digital Pound
Foundation whose focus is the development and implementation of the digital pound in the
United Kingdom. Ripple believes the UK has long been at the forefront of encouraging responsible
innovation and growth in the crypto-asset space, and development of a digital Pound is
the logical outgrowth of that work. “We are excited to support the design and
implementation of a digital Pound in partnership with the Digital Pound Foundation,” Friedman
noted. “The Foundation will help advance the UK’s goal to build a more inclusive and
sustainable financial system.” The digital Pound will underpin the UK’s transition to
an innovative digital economy and society. The implementation of a CBDC, alongside other
forms of digital money, will ensure the UK’s place in the emerging global digital landscape.
Today, over 80% of central banks are actively exploring some form of sovereign-backed
cryptocurrency—including CBDCs. The Bank of England is actively working to navigate
the practical and technological challenges of designing, implementing and operating a
digital Pound that could play an important role in expanding access to central bank money
by households and businesses.
The Bank of England has also recognized that the evolving
digital payments landscape brings the potential for faster, cheaper, sustainable and more
efficient payments with greater functionality. But achieving the full potential of digital
payments requires collaboration with a wide range of actors. This is precisely what the
Digital Pound Foundation aims to achieve—bringing together a diverse array of members to ensure
the UK maintains its globally competitive lead in financial innovation.
As more and more central
banks implement CBDCs, interoperability, privacy and complete sovereignty will be key to enable
central banks to move money cost-effectively, reliably and instantly. All in all,
let’s take a look at the charts. XRP is often a coin that moves extremely fast
when it gets going and doesn't give you chance to get in as it can make moves of 100%-1000%
in just a matter of weeks so pay attention to the consolidation patterns that precede it.
Firstly lets get the SEC news out of the way – this is just noise. Pay attention
to what the charts are showing you. Consolidation precedes expansion, this is
classic accumulation patterns my friends. Here we see on the weekly chart two and a half
years of accumulation price action in the green box. Once we broke higher, the market retested
the breakout region of 50c-60c as support and it currently moving higher to move towards the recent
local high of $1.96 and onto al time highs of $3. After the new All-Time High 20-Oct. Bitcoin
continues trading within lower highs. Lower highs can lead to lower lows just like
higher lows can lead to higher highs. We've been expecting a correction now for a
We were bullish when everyone was bearish and shared many articles pointing to
Bitcoins growth. Once Bitcoin peaked, we went bearish as everybody stayed bullish
and now we are only waiting for the results. Unless Bitcoin moves and closes above its 20-Oct.
high price, the bearish potential remains strong. The trend is bullish . Long-term
Bitcoin always wins, that's for sure. But looking at what can happen next.
Preparing before a move takes place. High possibilities of a correction are
still strong. As always trade safely guys! Please keep in mind, We are not a licensed
All videos on this channel are intended for entertainment purposes only.
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