XRP Preparing For $2 Rally | XRP News Today | Tired Of Hodling? [WATCH THIS!]

We are going to talk about XRP price potential
breakout to $2. Be sure to stick till the end of the video
to find out how and when XRP might hit $2. Welcome to "Money Side". Hit that Subscribe button and turn on notifications
for More! Ripple’s cryptocurrency started the year
2020 hovering around the $0.20 level. It then soared up to $0.34 in mid-February,
with many of the project’s supporters prophesying a bright XRP outlook for the following months. However, the unforeseen broader market crash
happened in March 2020, driven by the Covid-19 outbreak and rising global economic uncertainty. Cryptocurrencies were not immune to the event,
with many shedding in value significantly. On March 13, XRP fell as low as $0.11 per
coin, losing its status as the third-largest cryptocurrency to Tether (USDT). The digital currency then recovered its losses
to trade in the $0.19-$0.20 range throughout the next four months. At the end of July, it gained upward momentum,
allowing it to surpass the $0.30 mark in August. During September and October, the XRP coin
price retraced to trade between $0.23-$0.25. It came as a surprise to many as things took
a turn for the better in November.

On the first day of the month, XRP was trading
at $0.23 but by November 24 its value had surged 220 percent, reaching highs of $0.76,
according to CoinMarketCap. It is worth noting the price divergence on
different exchanges. The coin’s intraday high was $0.78 on Binance
and $0.73 on Bitstamp, while on Coinbase, the currency went all the way up to $0.90,
right before plunging 30 percent. The rally on the latter exchange was then
reported to be driven by the platform’s users. With an approximate price of $0.005, the coin
started on the market in 2012. During the year 2013, Ripple traded at the
resistance levels of $0.005882. Then in 2014 and the subsequent years, the
price of Ripple began to trade at a higher rate. Until 2017, when the entire crypto industry
was in rapid growth, its valuation stayed somewhat flat. In May 2017, the first price peak occurred.

Back then, the XRP rose to $0.36 per coin. This was followed by the launch of the Ripple
office in Mumbai. For the next six months, rates stabilized
at the $0.20 mark. In January 2018, the second high happened. The XRP reached its all-time high of $3.84
on January 4. After which, however, the price began to decline
steadily, and by September, the cost dropped to $0.29. The short-lived upside momentum then raised
the worth of the coin to $0.56.

The XRP closed at $0.35 in 2018. The coin did not have any breakthroughs in
2019, remaining steady in the $0.2-$0.5 range. The price of the currency rose to $0.33 in
eight weeks after bottoming at $0.17 in December, marking a rise of nearly 100 %.
Ripple commenced the year 2021 with the price trading at $0.23 which was a really bad start
as XRP is having issues with the SEC (Securities and Exchange Commission). Although experts predicted that XRP would
trade at an average price of $0.83 by the end of January 2021, it actually traded at
$0.49. The Securities and Exchange Commission (SEC)
has filed a lawsuit against Ripple for carrying out sales of unregistered securities. The lawsuit also involves two of the company’s
executives, CEO Brad Garlinghouse and Co-founder Chris Larsen. The SEC alleges that during these sales, the
company has raked in $1.3 billion by selling XRP, which it refers to as unregistered security. According to the head of SEC’s Enforcement
Division, the action of Ripple and its executives has deprived many investors and purchasers
of the securities the right to know Ripple’s system and business plan, which violates the
tenets of the public market system.

Responding, Ripple CEO Brad Garlinghouse said
that the company will fight the case to its logical conclusion. Also, he said that the action of the SEC further
confirms his earlier allegation that the commission does not provide a conducive environment for
cryptocurrency. Garlinghouse also accuses the SEC of not providing
a level playing field for crypto startups and particularly fighting against Ripple. Moreover, the company had earlier this year
announced it was relocating its headquarters to London, where the regulators are more receptive. This has put the price of XRP in freefall
as many investment firms, exchanges, and partners have begun to distance themselves from Ripple
and its native cryptocurrency. To the average onlooker, it may not be entirely
clear why this is happening, nor why this lawsuit may have implications on the entire
cryptocurrency space. Let us give you the details. Hit That Subscribe button for more! Why is the Ripple lawsuit important? The Ripple lawsuit is important because if
the SEC wins their case, XRP will be treated as a security and not a currency in the United
States. This will broaden the definition of the Howey
test, setting a legal precedent that could result in other similar cryptocurrencies also
being classified as securities.

Security, in business economics, written evidence
of ownership conferring the right to receive property not currently in possession of the
holder. The most common types of securities are stocks
and bonds, of which there are many particular kinds designed to meet specialized needs. Securities are subject to much stricter regulations
than currencies or commodities (think gold, oil, food, etc.). In the United States, securities regulations
are set and upheld by the Securities and Exchange Commission (SEC). Many cryptocurrencies are in fact securities,
namely those that were sold to investors utilizing an initial coin offering (ICO). This is because most cryptocurrency projects
with ICOs do not actually have a functioning product at the outset. As such, the tokens they sell become a sort
of promise to the people who purchased them – a promise that the company will create
whatever technology they claim to be building, thus giving value to the tokens they issued.

While these tokens are not a share in a stock
per se, they have similar properties and are therefore considered securities under US law. This is why many ICOs tend to be off-limits
to investors in the United States, Canada, and a few other countries that have strict
securities laws or are illegal to sell things to (e.g. North Korea). For most, it is simply not worth jumping through
the hoops required to sell the token to US investors, much less convince US-based cryptocurrency
exchanges to list them for trading. One of the core claims of the SEC suit against
Ripple is that XRP is a security, specifically unregistered security, that has been illegally
sold by Ripple since it was first distributed to investors almost 8 years ago.

Will Ripple win the SEC lawsuit? This fundamentally depends on how interrelated
the two core accusations of the Ripple case are. Again, these are that XRP is an unregistered
security and that Ripple, Brad Garlinghouse, and Chris Larsen used XRP to enrich themselves. Given the incredible amount of evidence to
the fact, it is quite clear that Ripple, Brad, and Chris engaged in bad business practices
that warrant some degree of legal repercussion. The question is whether this retribution depends
on whether or not XRP is a security. As noted by Cardano founder Charles Hoskinson,
XRP is not a security even though it comes dangerously close to that classification. This is because the XRP ledger would continue
to exist and operate even if Ripple were shut down and both Brad and Chris were put in prison. Ripple’s summary of their Wells Submission
also states that the DOJ and FinCEN consider XRP to be a virtual currency as per their
2015 suit against Ripple. Ripple also claims to have empirical data
showing that the efforts and selling behavior of Ripple, Brad, and Chris was not nearly
sufficient to impact the price of XRP.

Ripple’s strongest counterargument is that
XRP is no different to Ripple than oil is to Exxon or Bitcoin is to Bitmain. All three companies are reliant on those commodities,
but nobody would say that holding oil represents a share in an oil company. However, even if Ripple successfully argues
that XRP is not a security, it does not necessarily absolve it nor its head honchos from any wrongdoing. As Charles Hoskinson also noted, other regulatory
bodies could step in and seek to press charges for their actions. This seems likely given the high-profile nature
of the case and the inexcusable actions of its defendants.

In case you were wondering what would happen
to Ripple, there is one thing that investors do not like and that is uncertainty. This lawsuit against Ripple will likely drag
on for a year or more. Until the SEC suit against Ripple is resolved,
XRP will be one of the most uncertain investments in cryptocurrency. For the time being, the backlash has been
arguably tame given the facts noted in the suit. This is because XRP is one of the most traded
cryptocurrencies and rushing to delist it as an exchange is a bad call at this point. However, this could change as time marches
on. There is almost no question that the SEC will
uncover even more bad practices by Ripple before the suit concludes.

Whether institutions affiliated with Ripple
can brave that storm is questionable. It was recently announced that Coinbase was
going to be suspending trading for XRP on account of the SEC action against the company. As you can see with the price reaction of
XRP, the market has reacted negatively to the news. The only thing keeping XRP alive seems to
be the dedication Ripple fanbase which has seen this as the perfect opportunity to buy
XRP at a discount.

Whether they will still be fans of Ripple
once all has been said and done is likewise questionable. In sum, XRP will not go to zero anytime soon,
though it is in an incredibly vulnerable position because of the SEC’s suit against Ripple. By the time the suit concludes there may not
be enough interest left in the project to keep it relevant. For XRP to survive, it needs to stay in the
top 100 cryptocurrencies by market cap – the higher the better. If XRP falls out of the top 100, it may also
never get seriously picked up by retail investors during this bull run and could fade into irrelevance
as a consequence. While the majority of XRP projections look
rather promising, it is important to remember that the crypto market is very dynamic.

Its volatility makes it difficult to not only
give long-term estimates but also to predict what the price of a digital coin could be
in a few hours. When deciding to invest in any financial asset,
including Ripple’s crypto, we recommend you do as much research as possible, taking
into consideration the latest market trends, expert opinion, and technical analysis. Please keep in mind, We are not a licensed
financial advisor. All videos on this channel are intended for
entertainment purposes only. What do you think: is Ripple a good investment? Should you buy the coin or steer clear of
XRP in 2021? Tell us what you think in the comment section
below and let's have a conversation. Thank you very much for watching. Don't forget to like this video and to click
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