what edward snowden revealed about xrp and why we must pay attention edward snowden is a former central intelligence agency agent and computer scientist who leaked classified information of the national security agency nsa in 2013. the leaked documents were published by the guardian the new york times and other influential media and revealed numerous global surveillance programs conducted by five eyes intelligence alliance with the assistance of the nsa in various telecommunication companies today we're going to talk about what edward snowden revealed about xrp and why we must pay attention so watch this video till the end because today's video is going to be a game changer hi vaulters glad you can join us today and welcome to the xrp vault the place where you can find everything on xrp make sure to hit the like button and subscribe for us to provide you with more xrp content don't forget to enable all notifications to join our weekly cash giveaway pinned in the comments before we get to our topic let's take a look at the chart and see what the price of xrp is doing on the 1st of august shall we ripple price analysis indicates bearish momentum to follow over the next 24 hours as another slightly higher high was set around 76 cents today and further upside got rejected therefore xrp usd is expected to reverse later today and start heading towards the 70 cent support once again xrp usd traded in a range of 0.6987 dollars to 0.7647 indicating substantial volatility over the last 24 hours trading volume has decreased by 36.57 percent while the total market capitalization trades around 34.4 billion dollars ranking the cryptocurrency in sixth place overall meanwhile xrp is teetering around 74 cents following a minor correction according to the moving average convergence divergence macd ripple is still in the bowl's hands if the level at 75 cents is defended the leg up might stretch above 80 cents and trigger the much awaited gains to 1 consequently a golden cross pattern on the 4-hour chart affirms the bullish outlook this pattern comes into play when a short-term moving average 50 sma crossed above a long-term moving average 200 sma now let's get back to the topic edward snowden's revelations became an international issue that strained relations between the world's governments today snowden is living in moscow russia under temporary asylum the exact place where snowden is living has not been revealed for his safety edward snowden is a bitcoin and cryptocurrency enthusiast but stated multiple times that cryptocurrencies are not as secure and private as mass media often tries to frame it according to a leak by famed whistleblower edward snowden the nsa is reportedly monitoring the bitcoin blockchain with an eye on identifying users on the distributed network according to the report the nsa has been monitoring the internet activities of bitcoin users since 2013 through a program with code name as oak star and yet the new leak suggested that with money rocket which is another sub program under oak star the nsa may be moving closer to pinpoint users who initiate a cryptocurrency transaction snowden's twitter post comes after stories in recent days about the biden administration's six trillion dollar stimulus measures to bring back a better america six trillion dollars this is good for bitcoin the whistleblower edward snowden said on friday with all that said ripple xrp is one of the most recognized yet most controversial cryptos in the market this is due to a combination of its use case in banking and ambiguity as to whether it is a secure platform or not the controversies around its relationship with ripple are so huge that it came under the radar of the us securities and exchange commission xrp trading volumes soared to 4.4 billion dollars in quarter two xrp is the sixth largest cryptocurrency by market capitalization it recorded a massive spike in trading volume in quarter two this year climbing to over 4.4 billion dollars comparatively its trading volume in quarter one was 2.2 billion dollars in 98 increase in the second quarter the volume of xrp has seen four days in the second quarter of which it set the four highest volume days ever recorded in its entire history and you'll be surprised to know that xrp remains one of the largest cryptocurrencies by market cap even after going through all of the hurdles of an sec lawsuit in fact in early april 2021 xrp rallied rocketing past the one dollar mark and almost hitting two dollars for the first time since 2018.

Is xrp a good investment now xrp remains a good crypto investment as major financial institutions are adopting ripple when a product adoption rate is high it means the value of an asset will grow thus xrp is an excellent choice for a thematic investor who buys digital currencies based on a top-down investment approach to diversify their portfolio xrp's low price has opened up an affordable entry and investment opportunity with higher returns in addition the use of xrp across the ripple network for ultra quick currency transfers at a lower fee further strengthens its position the vast acceptance of ripple net at over 100 multinational banks increasingly proves its credibility there has been much controversy about the lawsuit focusing on the question of whether xrp is a security or simply a cryptocurrency if it is a security as the sec alleges then it must be registered with them as one the sec has never classified the top two cryptocurrencies bitcoin and ether as securities however they are decentralized and not owned by one entity this is not the case with xrp ripple is a secure cryptocurrency security is an essential part of the survival and growth of any cryptocurrency without it the crypto would be easily compromised and lose a huge portion of its value as mentioned earlier by edward snowden for context one needs to look at verge a privacy focused cryptocurrency back in 2017 it was performing very well but quickly lost its market appeal after it was compromised twice xrp is quite immune from this problem it is one of the most secure cryptocurrencies and has never been compromised for the more than a decade that it has been in existence this is a good reason to believe in the security of the xrp network and its potential for success in the long run to draw a brief conclusion edward snowden has a rather optimistic opinion on cryptocurrency as a phenomenon however according to him bitcoin should make every effort to develop if its creators want to call their brainchild a global benchmark according to snowden other cryptocurrencies which appear to be more suitable for payment solutions because of transparency security and transaction speed like ripple xrp can experience a substantial boom in the next few years xrp is the only most secure and widely accepted cryptocurrency xrp is one of the most commonly utilized cryptocurrencies for payments outside of bitcoin and ethereum it's logical since it's convenient for payments xrp allows you to send money almost instantly at practically no cost more individuals will enjoy this characteristic of xrp as more people use cryptocurrencies for payments as time passes this will have an influence on its demand and as a result its value over and above the normal crypto related speculation it also makes xrp a solid investment with genuine value so these are some of the factors that edward snowden may have thought about in solely on bitcoin we must wait and see what occurs in the future ripple has big goals for the future so it may eventually turn out to be a great long-term investment one of these goals includes replacing swift which is often seen as the standard of sending money internationally and one of the main ways transactions are sent the cryptocurrency market is constantly changing and to keep up with it can mean changing your daily habits to monitor how prices are fluctuating you can do this by watching our videos every day all in all ripple could turn out to be an amazing investment in the long run but also keep in mind the nature of the crypto world it can surprise you in the end we would like to mention that this is not a channel intended specifically to provide financial advice and we do not ask you to invest in any company this is merely a channel directed towards bringing educational content to your doorsteps with that in mind before you invest in anything we recommend you do thorough wide spectrum research on the topic well that's it for today's video guys and make sure to subscribe and give us a thumbs up see you next time on xrp vault

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