Ripple/XRP-$0.53 XRP PRICE Breakout,China-Digital Yuan & SWIFT,Ripple SEC Details No Longer A Secret
Welcome back to the show everybody we got a great one for you! Guess who's been working overnight for you? No, it's. Not me! It's, xrp! That's right. We were 53 cents. A second ago, and we & # 39, ve been toggling back and forth, but we got to talk about that.
That has been in a breakout mode overnight. Will it stay there? We'll touch on that. We're, also going to talk about the idea that china, digital yuan and a joint venture with swift, say what yeah and ripple settlement talks with the sec may soon not be a secret anymore.
Let's, roll that beautiful intro. Here we go, this is digital perspectives with brad kymes subscribe for new content notifications. Now, here's, brad kinds come on in [, Music, ], welcome back to the show everybody and it's, going to be a good one today, and i feel good too, because first of all i got my headphones back.
My headphones crapped out, i'll, be yesterday, and for those who don't know once one little piece to the puzzle of how your routine goes. When you're, putting videos together it just it can turn into a nightmare, and yesterday was a nightmare for me getting videos made, but we're back in action today.
Baby and you know what so is xrp. Let's. Take a look at this first of all 1.4 trillion, plus oh, that's right. We're talking about cryptocurrency baby, the crypto space is 1.4 trillion. Another all-time high continues to push bitcoin at 46, 492 and 14 cents.
Some would say a bargain at these prices. It's up 0.9 percent uh. It's up 0.98 percent on the 24 hour and 29.57 on the seven day. Let's. Take a look at ethereum because we have a little bit of news on that front today: one thousand seven hundred and eighty three dollars and twenty one cents, two and a half percent on the 24 hour and sixteen point two nine percent on the seven day as Well, cardano is absolutely breaking out at 87 cents right here.
It is up 102 on the seven day and 27.73 percent. On the 24 hour, looking at xrp in the number five spot, courtesy of the dereliction of duty by the sec, it says we don't care. We're going up anyway, that's right 52.
53. It's been ranging. We're staying well above 50 cent here. The question remains now: if we can hold above the 50 cent, uh uh channel or point, and it becomes support rather than resistance. Oh my, oh my! Then we can start having conversations about 70 80 and a dollar right.
So let's, keep a very close eye on that. We are 13.39 up on the 24 hour and 39.47 on the seven day. Let's, go ahead and just take a look at the chart here you see it rocking and we will keep an eye on it.
Let's, get into the news right now. So right now we're. Looking at this, and they're, saying price recovery steadies despite the sec, lawsuit uncertainty, we don't need to read the article, but it is true.
It is working up the hill and coming back from where all of this went to, because of the sec lawsuit, i mean, i think they said 12 damage to sales somewhere around 58 million dollars, whether it i don't know whether that's compounded weekly daily or whatever.
That is, but i know that there has been a huge uh impact to price because of the sec lawsuit and then obviously we have the other class actions. We're about to talk about that in one. Second. Here so first let's.
Talk about this! In the last 17 hours, china-based shuobi exchange has wired approximately 600 million xrp tokens around 273 million dollars worth in three transactions. You caught me well that's, a lot of xrp, and i wish i had it.
I could tell you that, right now and right here, let's. Move to this uh i don't, know what they're preparing for, but it almost seems like. Maybe we know there's. A settlement coming, i don't know, am i guessing, or am i just the eternal optimist? I'm, the eternal optimist and you know what i'm.
I'm cool with that, but let's. Look at this because it does get bigger. The picture gets, bigger, nasdaq has created methodology driven industry benchmark for cryptocurrency. The nasdaq crypto index is specifically designed to be dynamic by nature.
Broadly representative of the market and readily trackable by investors take a look at this cryptocurrency value in digital age, measuring digital assets, innovation, cryptocurrency, benchmark, okay, and they show you what they're doing here, and basically these are the core exchanges and core custodians That they're, relying on for this information and let's.
Talk about what's going on here, because, basically, it's, a basket of crypto. They're using the core exchanges, bitstamp coinbase gemini it bit and kraken core custodians, bitco, coinbase, fidelity and gemini gemini.
So running down here, crypto index overview tracks. The performance of a diverse basket of usd traded digital assets applies rigorous liquidity exchange and custody standards to asset eligibility. Assets must be traded on three at least three vetted core exchanges and supported by at least two core custodians rebalanced and reconstituted on a quarterly basis.
Free floated, market cap waited, and if we get down here, it says the nasdaq crypto index. The nci was specifically designed with these challenges in mind. The index is designed to be dynamic in nature, broadly representative of the market and readily trackable by investors.
Asset uh constituents are bitcoin at a weighted average of 78.61 ethereum 16.86 litecoin at 1.58 bitcoin cash at 1.03 chain link at 1.27 and stellar lumens at 0.65. We do not see xrp in that basket. That is interesting, but nevertheless nasdaq's got a basket of crypto baby.
It's getting bigger, and i feel like with all of that. We know where this is going, but let's. Talk about this idea right here, because this, i think, is an excellent point made by uh dj peter bass right here and shout out to everybody who sent information michael about five links from xrp crypto.
Wolf and everyone else involved. I appreciate each and every one of you so much elon musk yesterday just clarified that the usd is a sinking ship, let that sink in that's. A great point. However, i do want to add to that, because there's, still a question that remains by the one and a half billion buy of bitcoin by tesla and elon.
Musk. Look at this because this comes from did due diligence here uh and shout out to you for uh this post your thoughts on why tesla a green company bought bitcoin that's. A great question. Look at this little chart here from the recent deutsche bank report on energy consumption ripple is the lowest on energy consumption, kilowatts per transaction even under visa and mastercard.
Even under facebook's, libra now repackaged as diem right even lower than cash euro dash. Litecoin bitcoin, ethereum or bitcoin itself or bitcoin cash. Excuse me, you know this to me is just you know.
This really does beg the question. What what kind of decision is that for tesla, which i understand the brand awareness i'm - really not trying to beat up on bitcoin here, but it does have huge energy energy consumption, and i tell you moving especially now with the new administration.
They are going to have that as a heavy focus on being able to go green and and get away from fossil fuels and get payments and things down to where they're carbon neutral and all of these things, and that's.
Not such a bad idea right, but i think we see how it lines up here. So one has to ask: where does all of this? Where does all of this play out? At the end of the day, when we're talking about this proof of work and energy consumption versus something like xrp and the low energy consumption that it has per transaction as a very good piece now, this is going to knock you out right Here central bank's.
New venture may signal ambitions to boost digital yuan's. International role. Are you ready the people's bank of china? The pboc has set up a joint venture with swift, the global network that processes transactions between institutions in different countries, public business records show.
Although central bank hasn't made any official statement about the link up. It is going down here. We see china's. Bank has just signed a joint venture from dan collins with swift to internationalize the digital yuan.
So there's. That u.s is moving too slow on digital currency and payment. Zero innovation coming out of the traditional finance sector, not reading the last two words, because i do not. I do not give financial advice so here's.
The deal uh first of all shout out to uh jesus de gero, who sent me that and shout out to matt. Actually, my aussie friend - and this is from xrp crypto wolf, i mean look it's, a big deal to see china and the digital wand connected here and making a joint venture between one another was i smell something global going down and it feels Awful digital like to me so stay tuned, and this is pretty exciting and we don't know what will come of it just yet, but listen to this from xrp crypto, wolf ripple settlement talks with the sec could end up no longer being a Secret um, a court hearing on the motion has been scheduled for march 25th.
2021. We go down into the article. What they're talking about is, in a recently filed motion from the class action from bradley sostak. The lead plaintiff in a class-action lawsuit against ripple is asking the court to compel the blockchain company to produce its email communications with the u.
s securities exchange commission and turn over its documents, starting from january 2015.. Moreover, so stack wants ripple to remove redactions from its documents. Apart from those that were redacted for privilege, the plaintiff states that the defendants privileged claims should be explicit and specific ripple refusal to provide a log for its privileged redactions is described as pure game and [ __ ] gamesmanship, since they are required to explicitly specify the Nature of redacted parts under federal law.
The plaintiff claims that all improper redactions that are related to privacy, confidentiality, etc, etc have to be removed. A court hearing on the motion has been scheduled for march 25th, [ Laughter ].
Oh the plot dickens. Could you imagine this? Imagine that all of the private emails from all those tolling agreements that time of negotiating right with the sec being revealed [, Music, ] question i have is: did this just put more pressure on them to get a legal settlement with the sec in the courts? I think the answer is yes, that's going to do it.
For me, look let's. Take a look at it one more time, because this is amazing. Let's, keep an eye on price. Today, i normally don't, look at price that often, if i'm, just full disclosure here uh, but i will be watching it because it is important if we can stay and maintain above that 50 cent range.
We can start talking about that 70 80, 80 range and whether we can find support there at those price points, and if we do, we are staring down the barrel of a dollar and again. The question is still the same that i have for everyone, and the question is with u.
s residents for the first time in the history of digital currencies being restricted to a greater degree than they ever have been. Why is the price going up and, more importantly, why is it staying there? I yet have not seen a reasonable rational answer other than what i keep suggesting.
Is the liquidity being sucked up off of the exchanges and we don't realize it. Yet if the price doesn & # 39, t return back to the 20, some cent range - i believe the answer is yes, that's going to do it for me, hit the like subscribe, leave, a comment below things are heating up, even with the Lawsuits make sure you uh leave a comment below hit the notification bell.
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I will catch all of you on the next one. You