What's up, guys? I hope you all had a fantastic
start to your week. Before we get started with today's video, I want to say this; the more
research I do about Ripple and XRP, the more I find things that still amazes me. We are going to
get into all that good stuff later in the video. As we all know, we are almost in September, and
we are about to see some exciting things happen. Now that's out of the way, let's roll that intro.
As always, welcome back to Money Side- your favorite crypto news channel.
If you are new
here, welcome to XRP fam. Hit that 'subscribe' button and turn on your notifications so that you
don't miss out on our daily crypto news updates. To rev those engines, we will start with this
tweet from @1Crypticpoet that says, "JUST IN; Ripple partner Standard Chartered launches
blockchain trade platform with Chinese fintech." This is an old article, but I want you to pay
close attention to what is being said here. If we look at that highlighted section, it says, "This
investment will further accelerate the Bank's digitization agenda in the areas of distributed
ledger technology as it explores new ways of adding value to its clients and the industry."
Now further in that tweet, we have an article of today on Cointelegraph.com with the headline,
"Standard Chartered Launches Blockchain Trade Platform with Chinese Fintech." And as we just
mentioned, they are using Ripplenet. The joint venture operating the new blockchain-powered
platform will be headquartered in Singapore and led by SC Ventures' Amelia Ng as CEO.
As we all can see, Ripple is really taking over the industry in Asia.
example is stated in that article as we can see 'Standard Chartered became Linklogis' first global
bank investor in 2020, one year after the two entities had signed a memorandum of understanding
to jointly explore and develop solutions for the supply chain finance ecosystem. The bank has
previously worked with China-based fintech leaders, including Alipay owner Ant Group, whose
Antchain-based global trade platform, Trusple, has been used by Standard Chartered, Citi,
DBS Bank, and Deutsche Bank and many others.' More banks and huge companies have been mentioned
in this article, which shows you the grand plan that Ripple has.
Further in the article, we
can see that 'Standard Chartered has itself previously collaborated on using blockchain
for trade finance with many of these same banks through the eTrade Connect blockchain trade
finance platform launched in Hong Kong in 2018. That same year, the digital trade finance
platform We.trade — which counts HSBC, Rabobank, Santander, Societe Generale, UniCredit, Deutsche
Bank and others as founder banks — collaborated with the Hyperledger Fabric-powered IBM
blockchain to complete its first live operations.' Moving ahead, we have another tweet from
@RoslynLayton that says, "The crypto uprising the SEC didn't see coming." She shares a link
to this article posted on Forbes.com.
Well, they will tell us that the SEC didn't see this coming,
but they actually did. All that's happening was pre-planned, so it's all happening by design.
Looking further into that article posted on Forbes, we can see that, 'When the US Securities
and Exchange Commission (SEC) filed its bombshell lawsuit against cryptocurrency innovator Ripple
Labs in December 2020, it didn't expect blowback. But during the pre-trial phase, Ripple's legal
team has put the SEC itself on trial after years of conflicting and confusing guidance on the rules
for cryptocurrencies. No one expected the tsunami of legal, political and social media action from
retail cryptocurrency investors, outraged by the betrayal from an agency claiming to protect
their interests. The meltdown of the SEC's credibility with this $2 trillion global investor
community exposes a costly SEC miscalculation.' Even Forbes itself is stating that there is
much confusion surrounding the guidance on the rules for cryptocurrencies. Right now, people
are reaching the media with this information. When finally, the mainstream media decides to
hammer all these things down, we will have such an impressive situation there for Ripple.
Forbes will call it a miscalculation by the SEC, they don't know that that's exactly how they
planned it to be. It's the Ripple test, you guys! Ripple will not win this lawsuit; the best we will
get is a settlement. Why? Because the SEC will not allow itself to lose against a cryptocurrency
company. And if we are looking at the future, the SEC losing against Ripple would create a
significant problem for the cryptocurrencies that will be regulated in the future. That's
why I insist everyone understand that what's happening here with Ripple and the SEC is all
by design. The Ripple case will always be used as reference for future cryptocurrency
regulations when the settlement is made. Towards the end of that article, we see
that 'The uprising against the SEC is not particularly pro-Ripple but a backlash against
regulation by enforcement and deliberate market confusion that has exasperated investors and
driven developers overseas.
The main points of the SEC's lawsuit demonstrate why the case
was the last straw for crypto enthusiasts. The agency alleges not only that Ripple's
distribution of the cryptocurrency XRP has been "one long unregistered securities trade" since
2013, but that the digital asset itself – a token that operates on a fully decentralized ledger
– is a security with no utility other than as an investment contract in a single company.
Further, the agency insists that every market participant on Earth should have known that
XRP is a security for the last eight years even though the agency admits it wasn't clear on
its status until the day it filed the lawsuit.' Now, moving further ahead, we have another
tweet from @Filanlaw that says, "Below are the Public Call-In details for the Telephone
Conference on Tuesday, August 31, 2021, at 12:00 p.m.
EST to discuss the Ripple Defendants'
Motion to Compel the SEC to produce certain documents the SEC has designated as privileged."
To keep you up to speed with what's happening here, the Judge ordered the SEC to provide these
internal documents to Ripple's team. However, the SEC has been dragging for the longest
time now. They have been coming up with all kinds of excuses, but we will now see
what they have to say. But we all know why all these delays are happening.
The SEC clearly has a lot to hide; talk of all the corruption, conflicts
of interest and a lot of hypocrisy and lying. I'm pretty sure a lot will emerge
from this telephone conference. We just have to wait and see if there will be another significant
turn of events. There have been so many documents showing the SEC's hypocrisy, corruption,
and conflicts of interest in recent times. Now, before we wind up on today's video,
we have this tweet from @ISO_XRP that says, "@GaryGensler, what's losing this case going
to do for your legacy? Why are you continuing this charade when it wasn't your fight? It's
not too late to rightfully place this atrocity on Clayton & Hinman where it belongs and
move on; otherwise, you will OWN this loss!" He shares an image that says, "As the discovery
phase draws to an end and the public backlash intensifies, one wonders why SEC Chairman
Gary Gensler would continue risking his legacy on taking the Ripple case to trial.
defense of non-existent "clarity" has only widened the agency's credibility gap and hurt his
image as a heretofore champion of crypto, who, among other things, taught a course on the
subject at MIT before taking the SEC Chair role. Aside from the unprecedented restrictions on the
SEC's power that a losing verdict will inflict, can Gensler effectively lead an agency that
is provoking so much hostility from the very constituency it claims to be defending? With a
razor-thin Democrat majority in Congress heading into the midterms, the Biden Administration can
ill afford turning against the crypto community." Lastly, we have this tweet from @Ripple that says,
"NFTs are changing the landscape of the blockchain world.
Our CTO, Joel Katz, breaks down what
they are and how they work." Below that tweet, Ripple shares a link to a video where Ripple's
CTO David Schwartz recently sat down with our internal teams to discuss the world's current
most famous piece of blockchain technology, non-fungible tokens (NFT).
A quick overview of the video, David shares, 'To begin, let's review what it
means for something to be fungible. Something is fungible if it's identical to all of the other
items of value around it. In other words, 'like can be replaced by like'. Non-fungible tokens,
on the other hand, are unique in the marketplace and hold their own inherent value. Unlike fungible
tokens, they are generally not divisible because it's difficult to understand what a fraction
of one of them would mean.
For example, an NFT might represent a piece of physical artwork. How
would that artwork be divisible because unless you have all three-thirds of that very artwork, you
don't actually have it.' With that in mind guys, now let’s take a look at the charts.
We are looking at the 4-hour timeframe perspectives. XRPUSD in recent times is forming an
important constellation as it managed to advance bullish broadly on the global perspectives it
initially developed an overbought condition which should not be kept by side here. Mainly XRP is a
cryptocurrency at the moment forming a different structure compared to other major cryptocurrencies
like Bitcoin or Ethereum, therefore, when looking at my chart we can watch there how XRPUSD
develops this main descending-wedge-formation with the coherent wave-count within and the waves
A to C already completed. Now XRP is about to form the further wave D in the schedule which
will move directly into the distribution range again marked in red in my chart from
where the next distribution and therefore origin of the wave E will be highly likely.
Once the wave-E has emerged as it is shown in my chart the actual crucial developments will come
when XRPUSD finally completes the wave-count with the wave E within the accumulation-range marked in
green in my chart, XRPUSD then will either bounce substantially within this zone to continue
with a dedicated bullish breakout above the upper-boundary of XRP will increase with
bearish price-action further to continue with a wave-E-extension below the lower boundary.
In the current circumstance, it is necessary to await the further wave-developments and how
XRP continues with these in the structure, especially with what pace and momentum bearish
or bullish price-action show up, this will determine the final direction and break out of
the whole formation.
As always trade safely guys! Please keep in mind, We are not a licensed
financial advisor. All videos on this channel are intended for entertainment purposes only.
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We’ll see you in the next video..