Ripple XRP: The BLOODSHED Has Begun! (Exactly As PREDICTED!)

What's up, guys? I hope you are all having a fantastic day. Today we will talk about all the things that
have been happening to XRP in the XRP community. If you are new here, welcome to the XRP fam. Hit that 'subscribe' button and turn on the
notifications so that you don't miss out on our daily crypto news updates. Now back to today's topic, we have this tweet
from @boy_XRP, who shared a video by Bloomberg Money Moves where Ripple Labs CEO Chris Larsen
talks about building a new global currency. He talks about how law enforcement and regulators
are correct to be concerned about any new type of technology. But he says that they work a lot with law
enforcement, and they were just in DC this week, for example. He also stated that he works with promontory
financial, so we think that regulators have the best interest for business and commerce. So, if they can have a more transparent system
for catching the bad guys and eliminating the bad things that could hurt the financial
systems, it would be a win-win.

He shares and says that's the case with all
these new exciting technologies. Now, something else very uncommon has also
happened. Gary Gensler, who is the chairman of the SEC,
has joined Twitter. Okay, we appreciate that he is trying to reach
out, and this is not a bad thing. As we all know, the former SEC chair Jay Clayton
was not on Twitter. A lot of communication goes on Twitter so
it would be important that at least people have a way to reach out. And what's crazy is that his account has been
live for less than 24 hours and already has 54k+ followers.

We can also see many XRP community members
have tried to reach out, including Attorney Deaton. In fact, he tweeted saying, "Welcome, Chairman
Gensler. I speak for 19k XRP holders who have sought
intervention or amicus status in @SECGov Vs @Ripple. The SEC opposed our motion. Since your agency objects to us being heard
in court, will you take a meeting considering we are the people you seek to protect?" Now, Gensler, of course, has not yet responded,
and it's unlikely that he will or even agree to this meeting. But it's impressive to see that XRP community
members are bold and openly speaking their minds. Now, if we look at this article posted on
dailyhodl.com, we can see that Bitcoin's Rally to $40,000 Triggers Over $1,000,000,000 in
Liquidations.

Tens of thousands of crypto traders had their
positions liquidated as Bitcoin abruptly rallied to above $40,000. Data from the cryptocurrency futures trading
and information platform Bybt reveals that on July 26, $964.23 million worth of short
positions across all crypto assets were liquidated as Bitcoin ignited a strong rally from around
$35,000 to above $39,000 within four hours. Traders who took the other side of the trade
were also not spared from the volatility, as Bybt shows that over $170 million worth
of long positions were liquidated on the same day.

In total, over $1.13 billion worth of long
and short positions were liquidated yesterday amid Bitcoin's rise to a 30-day high of 40,499,
according to CoinMarketCap. Bybt's current data shows that in the last
24 hours, 99,649 traders were liquidated. At the height of BTC's rally, Willy Woo told
his 634,800 followers that the bulk of the BTC liquidations happened in a span of 12
hours. "$1 billion of BTC futures liquidations in
the last 12 hours. Here's where the carnage happened." Earlier this month, the popular on-chain analyst
said that a BTC supply shock was underway and predicted that traders who short the market
would eventually be liquidated as coins were being withdrawn from exchanges at a rapid
rate. "As price grinds sideways-bearish, coins are
being scooped off the exchanges at a very bullish rate. The latest sizing of withdrawals vs deposits
are at local highs at levels that signal a bottom; whales are scooping… In my opinion, anyone short this market will
get rekt given enough time.

It's just a waiting game until the fundamentals
prevail. In another article published on financefeeds.com,
we can see that SEC V. Ripple: SEC rebukes own commissioners views ahead of William Hinman
Deposition. Ripple has scored a series of wins in recent
weeks. The long-awaited deposition of William Hinman,
ex-SEC Director of Corporation Finance, is scheduled for tomorrow. The SEC v. Ripple lawsuit has seen a significant
turn of events last week in the form of a public statement by SEC Commissioners Hester
Peirce and Elad Roisman. The top officials officially admitted to the
lack of clarity surrounding the digital asset space. Deemed a "gift from the heavens" by Jeremy
Hogan, a lawyer linked to the XRP community, this statement has already been added to Ripple
and the individual defendants' defense.

The turn of events appears to indicate that
Ripple now has the upper hand in the lawsuit. The Securities and Exchange Commission, however,
seems not willing to recognize that. A recent letter from the SEC regarding the
individual's filling reminds the court that the abovementioned public statement is not
a statement of the SEC itself or any sort of binding authority on this court. The SEC also insisted that all courts that
have considered this issue have decided under Howie and concluded that the abundance of
case law interpreting and applying Howie at all levels of the judiciary and all related
guidance issued by the SEC provide all the notice that is constitutionally required. In response, the individual defendant's Brad
Garlinghouse and Chris Larsen, sent a letter stating the SEC's arguments concerning the
two SEC Commissioners' statements only highlight that the SEC's position is legally untenable
as well as the agency went to "publicly rebuke these two Commissioners' considered views.

"The SEC's extraordinary public airing of
its internal debate only highlights why the Court must dismiss the SEC's claims against
the Individual Defendants for aiding-and-abetting Ripple's alleged violation of Section 5 of
the Securities Act." The two SEC Commissioners have indeed dropped
a bombshell on the Ripple lawsuit, and in good timing for the Ripple counsel, who will
have ex-SEC Director William Hinman depose on July 27 in order to strengthen its fair
notice defense further. Both parties have recently reached a deal
on how to go about Mr Hinman's testimony without the SEC objecting to most of Ripple's inquiry. It remains to be seen what will really happen
at the deposition. The following day, July 28, is the deadline
for the requested response from SEC Chair Gary Gensler to Senator Elizabeth Warren.

She has asked for information on the regulator's
"authority to regulate cryptocurrency exchanges properly and to determine if Congress needs
to act to ensure that the SEC has the proper authority to close existing gaps in regulation". That letter also sent shock waves of speculation
regarding what could be deemed as an orchestrated powerplay to outflank the CFTC. Another tweet by @coinpediaNews says, "Big
Day Ahead for Ripple Labs, How Will the Events Unfold? Will XRP price break past the $1 mark?" According to this article posted on Coinpedia.org,
U.S. Magistrate Judge Sarah Netburn granted permission for Hinman's deposition to go forward
with a delay to allow the SEC and Ripple to reach an agreement on the scope of the deposition.

Hinman's deposition was supposed to take place
on July 19. Tomorrow is William Hinman's long-awaited
deposition the former head of the SEC's Division of Corporation Finance
Because of their intrinsic decentralization, Hinman stated publicly in 2018 that BTC and
ETH should not be considered securities. In recent weeks, Ripple has had a string of
victories. The SEC v. Ripple litigation took a crucial
turn last week when SEC Commissioners Hester Peirce and Elad Roisman made a public statement. In December 2020, the Securities and Exchange
Commission (SEC) filed a complaint against Ripple, saying that the San Francisco-based
payments technology company's issuance of XRP was an unregistered securities offering
valued at more than US$1.38 billion. With that in mind, let’s take a look at
the technical analysis. We are looking at 4hour perspective. After Ripple started a recovery rally from
the 3-month low at USD 0.5097 in June to USD 0.7331, there has been a weak attack in the
past few weeks and another successful test of the low. The most recent price surge finally carried
the coin lively over the downtrend line from the rally high. The short-term chart image has thus brightened.

In order to generate a resilient medium-term
floor, the USD 0.73 mark would now have to be sustainably surpassed. We consider the probability of at least one
push at this critical hurdle to be high as long as the support at USD 0.59 is not undershot. With a break above the mentioned hurdle, we
would consider a continued increase towards USD 0.79, USD 0.85, and USD 0.93 possible. However, a slide below USD 0.59 and then USD
0.57 would immediately turn the technical bias bearish. In this case, we would favor a timely reunion
with the medium-term critical support zone at USD 0.50 / USD 0.51. In our opinion, a significant shortfall would
indicate an immediate continuation of the higher-level sell-off from the record high
in the direction of the USD 0.32-0.43 zone. 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. Tell us what you think in the comment section
below and let's have a conversation.

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