XRP Ripple: Liquidity Pool is Worth Over $45 BILLION! | Taxes To The Crypto Community! [Don’t Miss]

What's up, my XRP gang! Today I have surprising news for you, so stick
around to the end. If you are an avid trader, I'm sure you've
noticed the recent downtrends across the market, which is something we'll discuss within this
video. Another critical part is about keeping you
updated with the XRP and SEC lawsuit. Welcome to Money Side. Hit that subscribe button, and let's make
this money together. Without further ado, let's get started, shall
we? Right, the word of the day is, Taxes.

Yes, that's right! Now you might be liable to taxes when trading
cryptos in the market—more on that within the video. For a while now, XRP enthusiasts have been
championing its relisting after the lawsuit with the SEC put some details into a clear
perspective. Cryptocurrency exchanges that were quick to
delist this token are now getting pushed by the community to relist this crypto. Why is that? Well, the court case revealed that the exchanges
have nothing to worry about.

Even if they relist this coin, exchanges will
not break any rules, which was the initial reason for the delisting. That means this token will be headed to the
moon, and it's time to buy, buy buy! If you haven't already, stock up as many XRP
tokens as you can. We even have an entire website dedicated to
notifying traders on the relisting of XRP. Imagine that? xrprelist.com
If you have any doubts about the fuss around this coin, I can assure you, this coin has
garnered quite a following in the community. And that's not only because of the lawsuit. This token essentially was already headed
to the moon, but the SEC pumped the brakes on them. Otherwise, if that didn't happen, XRP could
have hit the $50 or even more. So, will the relisting happen? Currently, most major exchanges are already
trading XRP on their platforms except for US-based crypto exchanges. Companies such as Coinbase admitted that they
would only relist this coin once the SEC lawsuit is withdrawn or it comes to a conclusion.

However, for anyone who's been following this
case, it's not a far-fetched dream. Ripple Labs has a solid defence team, and
they've always had the upper hand in the game. There's still a lot of fight left in this
company. Even though my optimism for XRP knows no bounds,
we still have to anchor ourselves with the truth. And I'm here to give you nothing but the truth
regarding the Ripple lawsuit. Right, let's play out the worst-case scenario
if this lawsuit doesn't go according to plan. If, and I insist on if Ripple loses the lawsuit,
its effects will likely affect exchanges in the US. Companies such as Coinbase and Binance.us
will probably never list the token on their platform. However, since the ruling affects US citizens,
XRP will continue to be traded on other exchanges worldwide. That means, as much as your investment in
this coin is bound to take a hit, you will likely still have control of a majority of
your capital.

Additionally, Ripple, for the sake of XRP,
will have to relinquish their control over the token. That will help ensure this token doesn't fall
with the company. Another solution that Garlinghouse seems to
entertain is the burning of the XRPs in the liquidity pool controlled by Ripple. The community suggested to Garlinghouse if
he is ready to burn the liquidity pool tokens, close to 60% of the total XRP to protect the
coin. He said if that will help the case against
XRP, he's open to the idea.

However, my guess is that's only a last-minute
resort. That's if they can't control the case, and
there's nothing else they can do. When that happens, the 40% tokens in the market
will increase in value; therefore, anyone holding the crypto tokens will witness a substantial
increase in their investment. That's a total win for the community but not
so much of a victory for the Ripple Labs. That's because the liquidity pool is worth
over $45 billion regarding the current XRP price. Joe Biden, the US president, signed off on
a ruling that could see the cryptocurrency community liable for tax payment. Yes, guys, we will now have to pay taxes on
the capital gains tax. Unfortunately for anyone on the market, you
will likely have to change your trading strategies or otherwise incur a tax that you didn't plan
for. Above all, this new capital gains tax will
likely be retroactive, and we are bound to see solid drops in the market because of it. So how do you deal with the capital gains
tax? Well, the best way is to stake your coins,
not sell. Staking will help reduce your capital gains
tax, and all you have to do is place your tokens on the staking protocol and get profits.

But here's the most exciting thing about XRP:
the token is still on a solid bullish trend. This token is going against all norms and
is on a constant uptrend. If you are in the US and want to profit from
XRP, instead of selling your tokens, it's time to stake them. That way, you can wait for the relisting to
happen. All in all, you will have to think twice about
your tax plans on crypto. You need to pay attention to the tax regulations
in the country because you could be hit with tax penalties without your knowledge. That is why it's always crucial to listen
to updates on the SEC and what's happening in the crypto space. Please don't wait until it's too late since
that could lead to severe penalties. All in all, if you have XRP in your wallet,
I'd advise you not to sell them.

That said, let's check out the technical analysis. Now we are looking at 4 hour chart. I stated that support should be found for
XRP at 0.90$ and support was actually found at 0.95$. On BTC , we stated that support should be
found at 43,975$ and instead support was found at 47,000$. Double bottom formations had formed across
the market and we are now at the ceiling of the structure. So technically speaking, this is where price
should begin to drop again. Also, we are at previous price floors, which
should now become price ceilings very easily. We may get a push upwards to the 56,000$ price
level on BTC to meet EMA resistance on 4 hourly and we may see a push upwards on XRP to the
1.55$ price level. Essentially, most of the bullish move has
been maxed out for now from the levels that we stated we would see supports in the market
(or near enough).

Bearish price action should take us to see
the 43,975$ price level once again and even more so to the 0.80$ mark on XRP. Based on our wave analysis on weekly chart,
XRP is currently working its way up to test its previous key resistance level at around
3.32USD to complete the final 5th wave if its impulsive move since 2014 low before going
into corrective phase. This is however a more conservative view of
ours since we saw a extension of wave 3 during 2017 crypto super bullrun. On a log scale, XRP price movement also seems
to be running up nicely in an ascending channel which we could use as a potential long term
support and resistance trendlines .

Medium to long term outlook of XRP looks bullish
forever. However, we do not know how deep the correction
would be following the completion of wave 5 so caution should be exercised for those
who haven't and considering to jump on the bandwagon. Trade safely my friends. 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. Thank you very much for watching. Don't forget to like this video and to click
on the subscribe button below.

Turn on notifications to get informed whenever
we post our amazing content. We’ll see you in the next video..

You May Also Like