I'm pretty humiliated today. I have to admit something that I've only had
to do about three times in my whole life. And one of them was just recently
on Valentine's Day. I'll let you put two and 500 together on that one. But I have the cojones and I'm man enough to admit when I'm wrong. And when it comes to XRP, I was wrong. It stung a little bit just saying it. But that's not all, as today I'm going to reveal to you
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In this video, and it's going to be an epic one, I'm going to be discussing XRP
and a serious error in judgment for myself. I'm also going to be telling you what I think is ultimately
going to happen in the SEC lawsuit against XRP that some of the XRP holders
or prospective investors must hear. So definitely watch this video
all the way until the end. I'm also going to lay out a conspiracy that could
send ripples throughout the XRP community. It's deep. And to me, it's pretty obvious what's going on here. So, first, let's start with my apology
to the XRP community.
I'm sorry. You were right. I was wrong. So let's go back to last week on my livestream. We started discussing this article, XRP Gearing Up for Massive Pump,
Says Credible Crypto— Here's How High It Could Go. I covered this content because I know
the XRP Army is a bunch of suckers for a good Ripple pump story.
The charts were extremely bullish, and I've got to give Credible Crypto
some credit for this. But on the livestream,
I called him delusional. I couldn't have possibly predicted fundamentally we would see the huge price pump we just did. And I'm always intrigued when charts start
saying things from a technical perspective that have virtually no weight to them
from a fundamental perspective. Fundamentally, XRP is dead. Well, dead may be a little strong. Let's just say it's hooked up to the breathing machine, and the SEC is weighing out whether or not
to take it off life support. I know it's a morbid comparison, but it's kind of accurate. Here's why. The SEC, the United States Securities
Exchange Commission, literally has the power of life and death
in their hands for Ripple Labs. If, and it's a big if, Ripple decides to pursue an actual
acquittal in the case and is unsuccessful, the SEC could give XRP the death penalty.
This means that no one in the United States
would ever be able to trade it again, means no Coinbase relisting. Seeing how it's an American company ran by Americans, the SEC could go ahead and decimate
Ripple Labs as well. CEO Brad Garlinghouse
and former CEO Chris Larsen are both in big trouble for making money
based on the supposedly illegal XRP token sale. But there's one person that was specifically
not named in the SEC lawsuit who's one of Ripple's co-founders, Jed McCaleb, who is also the founder of Stellar, who is also the creator of Mt. Gox. In 2012 and 2013, it was the largest
Bitcoin exchange in the world.
In 2013, McCaleb sold Mt. Gox to
French billionaire Mark Karpelès. Well, he wasn't a billionaire until after
he took it over, but I digress. Mark Karpelès now worth $2 billion was in charge of Mt. Gox when it got hacked and investors lost $460 million
worth of BTC at the time. Worth billions now. That's what you get for trusting a site
that started out as a Magic: The Gathering website. True story. I actually lost some Bitcoin myself
on the Mt. Gox hack, but that's another story for another day. The fact is Jed McCaleb has been involved
with some of the sketchiest stuff in crypto. But here's where we get to something quite interesting. Here's the XRP lawsuit documentation from the SEC, and you will see a key line here.
The complaint alleges that Ripple
raised funds beginning in 2013 through the sale of digital assets known as XRP in an unregistered securities offering to
investors in the US and worldwide. Okay, so Brad Garlinghouse and Chris Larsen
are specifically named in the lawsuit, and yet Jed McCaleb, one of the founders of Ripple who is there during the beginning
and the fundraise for the XRP token, was not named. McCaleb left in 2014 with a hefty severance package
which included 20 billion XRP tokens. According to today's number, that would be $20 billion. But McCaleb has steadily been dumping XRP tokens
every month for the last seven years. It's one of these stories that seems to raise its
ugly head every single month for the XRP Army, a never-ending FUD campaign
of McCaleb dumping the price. But here's where things take quite
a conspiratorial twist.
This is the vesting schedule for
McCaleb's severance package. It was a 7-year schedule ending… guess when, this year. The same year the SEC is going after XRP. During 2015, '16 and '17, McCaleb could dump $20,000 worth per week. Then the number converts from USD to XRP. He could sell 750 million XRP per year
during 2018 and '19. During 2020, he could sell 1 billion XRP. Now, in 2021, he can sell 2 billion XRP. So one has to wonder, how much XRP does Jed have left? A recent article from AMBCrypto says that McCaleb has 2 billion XRP remaining
that he can sell all off by May.
Keep in mind, Brad Garlinghouse and Chris Larsen are accused
of making $600 million off of the token sale. In 2021 alone, McCaleb is going to make $2 billion. And he isn't named in the lawsuit at all. Almost like he has a Get Out of Jail Free card, also known in some circles as immunity. Little strange, isn't it? That all of a sudden when McCaleb runs out of XRP
that the SEC lawsuit comes into play. If you didn't know, the split between
McCaleb and Ripple Labs was very ugly, and they did not end on amicable terms. Jed immediately went on to start a payment
solution competitor to Ripple Labs in Stellar or XLM. So which project pumped immediately
following the XRP lawsuit? Stellar.
Which project stands to gain the most if XRP fails? Stellar. The more I dug into the timing of all this, the more apparent it becomes that there
could be something sinister in play here for the never-ending beef between
McCaleb and Ripple Labs. Two of the most hated words in the crypto
space are Ripple and Mt. Gox. Mt. Gox almost broke Bitcoin. It had a lingering effect for years. And Jed McCaleb started both of them. One got hacked and people lost hundreds
of millions of dollars in Bitcoin worth billions now.
One now faces the biggest crypto
SEC lawsuit in history. And somehow, Jed managed to skirt both of these
disasters completely? And manages to come out as the hero? I don't have the answers to any of these questions, but what I do know is this. There are a lot of strange coincidences
when you break all this down. But where does XRP go from here
after topping $1? This is what all boils down to. If Ripple Labs settles with the SEC, XRP will rip. If it fights them tooth and nail, they'll end up getting the death penalty. The idea that Ripple is big enough to fight
the government is laughable. It does not matter whether you're right or not. When the government decides to go after you, they win, period. The harder you fight, the worse it's going to be for you. Ripple's best move is to fall over
and play dead with the SEC, take whatever fine and punishment they give, and move on. As Bitcoin, Ethereum and Cardano
have all hit fresh all-time highs, in 2021, XRP is still a 200% move away from
even approaching its previous all-time highs.
So while there's a lot of excitement
in the air for the XRP Army, there's still a long ways to go to get
where they believe it can get. There has been some movement in the lawsuit
recently including a couple of redacted emails and the allowance for XRP holders
to intervene in the SEC lawsuit, but it looks like this will linger on through May when Jed McCaleb will also run out of XRP.
But what do you think, XRP Army? Do you believe there's something
underhanded afoot? Or is it just a coincidence that Jed McCaleb will be
able to sell all his XRP without any repercussions? Drop your thoughts and an XRP
price prediction down below. That's all I got. Be blessed. BitBoy out.