The price of XRP is currently at around 60 cents, and yet
it's still retains its position among the elite. Cryptocurrency is in the world like every crypto asset out
there. It has a growing number of devoted investors who are
committed to seeing it rise massively in a bid to earn profit. But the coin has struggled as of late, particularly
in twenty twenty.
It experienced quite the turmoil in twenty nineteen as
well, which was not a good year for the coin. The year 2020 held such promise for the crypto, though it
hit a stumbling block when the pandemic ravaged the entire world. However, this was of no apparent harm, as other
cryptocurrency is to experience the full strength of the economic downturn. While Bitcoin and other alt coins picked up and began an
extended RIPPLE after the restrictions were partially lifted in several parts of the world, XRP did not rise
significantly until the fourth quarter of twenty twenty. Then in there the price rose to about forty three cents and
then hitting fifty five cents. It held on to this for quite some time before it rose to a
whopping 70 cents in December. Twenty twenty things took a turn for the worse towards the
close of the year, with the news of the SEC suing RIPPLE for the sale of illegal securities.
Despite not being the subject of the suit, it affected the
price of the coin and since then it's been responding. Based on the events that surrounded Rypple. Many have pointed out that XRP could die with RIPPLE as the
lawsuit progresses. But contrary to expectations, the coins price trend showed
it wouldn't swing that way. It showed major spikes and held them for some time before
slipping and then consolidating at a relatively lower but safe price.
Welcome back to Make Money Online. Brad Garlinghouse, Apple CEO, made a statement about how
XRP will continue to trade even in the event that no longer exists today. We'll take a closer look at that statement and what it
means for the future of XRP. Don't forget to leave us alike on this video and hit the
subscribe button and notification bell to get notifications every time we upload a new video on this channel. Rypple CEO Brad Garlinghouse has once again dropped another
encouraging piece of information that bodes well for zippi investors and traders, he's always shown optimism of
Zippy's chances of making it on its own in the market and has not hesitated to declare just how little ripples
influence on XRP.
It appears that with the SEC lawsuit in play, investor
sentiment has been haphazardly coordinated and its overall effect on XRP price trend has been limited to the
surrounding noise raised as a result of the crisis. We've all been asking the question when will it be free of
this embargo? Garlinghouse has further stressed that he remains a free
entity and should in no way be affected in any case following the lawsuit. Optimism is still very much in play. But when he was asked whether there is a future for XRP, he
emphasized how special the crypto is and said that what really drives XRP is its crop of magnificent investors,
users and handlers who have remained resilient. And he sees it continue even on the off chance that Ripple
Labs ceases to exist. This adds to the list of arguments in the case against
classifying BETOKEN as a security, the end result of the lawsuit would only affect the company, but XRP will still
remain a token even if the SEC wins the case. Recently, there was a glimmer of hope generated by the
dismissal of the Tetragon hearing, and thus Ripple can still hold out for a win in the court setting.
While the SEC lawsuit is ominous for XRP and RIPPLE, it also
affects the entire crypto market broadly in the United States and it's driving that entrepreneurial activity
outside of the US doesn't bode well for the market. With that being said, Garlinghouse appears to be confident
that Apple will be able to secure a victory over the regulatory watchdog. As reported by you today, the executive also claimed that
XRP would continue trading even if people were to abandon it, regardless of the lawsuit, to underscore why the token
is not a security. In addition, Garlinghouse says that he wouldn't want to
Baz's new cryptocurrency company in the US if you were to launch, one lack of clarity on cryptocurrency is bad for
business, and complications like this will keep quelling investor interest and result in major losses.
There's already been a huge loss in US markets, and it's
hard not to consider whether the US environment would be missing if they succeeded in entirely getting rid of the
crypto market. Given the initial concerns and that comparison, it's easy
to spot the problem despite policies with similar crypto currencies, the SEC never clarified RIPPLE status. With the state of things, one article mentions that BP's
future is difficult to forecast. However, they do compare it with previous situations that
have ended well. While the lawsuit could prove expensive, there are still
politicians with a friendly attitude towards the cryptocurrency. Therefore, even if the settlement results
are disadvantageous for Rypple, they can still survive. Most of its users aren't in the US while prices are low
right now, it might be an excellent chance to invest. Top lawyers, though, see only one way out for XRP, and
that's via settlement, as they think the chances of victory are pretty slim. A sympathetic judge would make things much
easier, a probable remedy might exist, but it's not known at this time. The additional personal liability charges for
Ripple's executives, however, are deemed to be barely capable of holding water.
Nevertheless, we already mentioned that RIPPLE settlement
doesn't have to result in losses. Only five percent of its consumer base is from the US. It all depends on if the court decides the security. If they conclude that XRP is a cryptocurrency, exchanges
won't face legal consequences for continuing their support. Now, the SEC suit may drag out for years. However, we think that there is a chance that the SEC and
RIPPLE may reach an out-of-court settlement which can potentially see Ripple's prices skyrocketing again.
Even if the US does ban XRP, it doesn't seem to be the end
of the coin, as some fear many financial institutions from Asian and European countries have taken a liking to the
coin. And it's probably going to stay no matter how the SEC
lawsuit ends, if you're already invested in this crypto. There is no need to panic sell. Hold on to it unless you are already seeing a profit in
your investments and don't want to take more risks. Exposed is about to form this triangle marked with
boundaries and blue sides that exposed has the coherent wave count within the formation already completing waves a to be
this movement is the major wave B over the global wave count now exposed is about to move on with the wave sea within
the triangle wave count, this wave sea will move directly into the conformational bounce cluster and tested.
This cluster is also extremely crucial to hold and bounce
off because if this doesn't happen, it will invalidate the whole formation. However, when Exposed manages to bounce
from the cluster, this will lead to a great breakout and confirmation of the formation. Taking all these factors into consideration, exposed is now
in a situation with a lot of potential.
Nevertheless, it's imperative to win on the proper
validations before rushing into trades that do not satisfy. After this formation completes, exposed will move on with
the main wave C to the upside and test the remaining resistance. We're waiting to see if the trend will attain a
bullish appearance. If it can sustain the price above forty five cents, the
exposed bear could rise to fifty five cents and then to 70 cents.
This is an important support to watch out for
because a break below it could signal the bulls are fully back in the game. At this important point, XRP faces strong
local resistance of forty eight to fifty cents and there are two paths shown in the chart that it can follow. For now, the green path is expected and there is strong
support here and a valid trend line that both support XRP and pump the price to our target to hit fifty six cents
just in case it falls in the Redpath. If we have a breakout on the trend line and the strong
support on forty five cents is broken and after the retest we would expect the Redpath and Target would be forty
cents. The overall verdict is that the market is strongly bullish
and the green path is expected to continue. This chart predicts that by the 11th, the 12th of March XRP
will finally break above this pattern to fifty eight to fifty nine cents as the main targets here.
No bullish breakout has been confirmed yet, meaning a break
down instead of up is still potentially in the cards. We'll be waiting for an obvious breakout one way or the
other. However, probability currently favors the bulls slightly. We hope you enjoyed this video and if you did, please give
it a thumbs up. Subscribe and click on that notification bell so you can
get updates whenever we post a new video. Can we continue to hope the best from XRP? Let us know your thoughts and feelings in the comments
section below. Don't forget to check out our other videos and we'll see
you next time.