XRP continues its fight against the SEC.
And exchanges are getting more and more confident to relist this former altcoin gem.
But what does that mean for the price?
In this video, I'm going to be breaking down the recent SEC developments,
what a clear path for XRP could look like,
and my prediction on how that will affect the price.
Calling all XRP Army members.
Let's get it!
BitSwap is the hottest new way to trade tokens.
Crawling all the top decentralized exchanges.
BitSwap will get you the very best price and value for your trades.
BitSwap is changing the game.
Try it now at bitswapdex.com.
Welcome to BitBoy Crypto! The largest crypto channel in all the Interwebs.
My name is Ben.
Everyday, I show you how to make money in crypto.
If you like money and crypto, then make sure to hit that subscribe button.
Who doesn't love money and crypto?
In this video, we're going to be giving you the goods on XRP,
which, by the way, you can trade on Bybit.
You can leverage trade the price to compound gains.
If you believe this video and you think XRP is going to moon,
you can long it.
If you think XRP is getting crushed by the SEC,
short it to the ground.
Check out bitboycrypto.com/deals and click Bybit under our top deals section to get started.
Of course, always use responsible leverage and proper risk management.
So let's talk XRP.
For those of you new to the space,
here's a quick breakdown of XRP and its patent company, Ripple Labs.
On this channel, we make sure to call out the differences between blockchain technologies
because using the term cryptocurrency is a misnomer.
I don't even use it anymore.
Cryptos are assets because blockchain is a lot more than just a currency.
But in the case of XRP, it is a blockchain technology whose main use case is to act as a currency.
Launching with the slogan "The Best Digital Asset for Global Payments"
brought a lot of great press to Ripple Labs and XRP
when it launched all the way back in 2012.
The actual XRP token would launch years later,
but the idea is all started then.
It stayed under one penny for most of its life, only to absolutely explode in 2018,
hitting its all-time highs of $3.30 on some exchanges.
But on its way up, XRP caught the attention of the bureaucratic hellscape here in the US
known as the Securities and Exchange Commission.
They didn't like this new thing that called itself an asset.
They rubbed their cloven hooves together and brought a lawsuit together
against Ripple Labs in 2020
that pulled XRP's price potential into legal limbo,
a place so full of doublespeak, deception and red tape
that once you enter,
you are never seen again
like south of the border
or Jeffrey Epstein's Island.
It's not to say that Ripple Labs isn't without its share of controversy
when it's not being stared at by the rectangle pupils of the SEC employees.
Ripple has had plenty of drama that I've explained in other videos.
So I encourage you to check them out.
This is the largest crypto channel in all the Interwebs.
You think we haven't talked about this before?
Of course, we have!
Come on.
I know all and see all.
But this still is not financial advice.
You should know that by now.
I don't even really know why I'm supposed to keep saying that.
But the use case for XRP is hyperfocused,
which is a hallmark of a good project.
And the other thing that helps XRP is that it actually works.
It's fully launched.
Transactions on the XRP network are blazing fast, coming in at 1500 transactions per second.
For comparison,
Bitcoin transactions take around 10 minutes on a normal day.
The fees are also very small, just fractions of a penny.
Compare that to the bonkers gas fees we've seen on Ethereum
for what seems like forever now.
But Ripple Labs also has a solid team and the potential for a robust ecosystem,
means XRP has the ground game to be a serious contender.
It just has to clear this legal hurdle first.
So far,
the legal battle between the SEC and Ripple appears to be going Ripple's way.
Even old school financial news outlets like Forbes are coming to Ripple's defense,
saying that the SEC suit is an overreach.
The judge, Sarah Netburn, is incredulous when it comes to the SEC's claims,
and the SEC keeps on ruffling her feathers.
But it's not all sunshine for XRP.
The SEC has requested information from Ripple Labs' foreign investors in over 20 countries.
Although some of them are refusing to help.
It's actually like they like it.
But day by day, it looks more like the SEC is on trial for bully tactics
than Ripple Labs is for putting XRP token up on different marketplaces.
The results of this case can be far-reaching not just for XRP but for crypto assets around the world.
This would be a welcome boost for XRP and its token price,
which has struggled to have any sort of price momentum since late 2019.
But that may be soon changing.
Here at BitBoy Crypto,
we know many things
and we're always keeping our ears to the street
to hear what's coming next.
So I want to share this piece of news with you,
the BitSquad,
to keep you guys ahead of the curve on XRP.
It appears, from what we're seeing, that several institutional and government executives
are expecting Ripple Labs to emerge victorious from the lawsuit
and getting XRP back on the path to being the best digital asset for global payments.
As soon as that dark cloud has passed,
these insiders see XRP becoming a heavy duty player in the crypto space,
and the adoption of XRP could skyrocket in the coming months.
So could we see it return to its all-time high of $3.30?
I think so.
But I also think there's a huge upside for XRP.
They could make it the darling of this coming alt season
that we have after the market settles down from the two straight weeks of FUD
we've had in the middle of May.
Basically, part 1 of the bull run has happened.
We are now waiting for the resurgence in part 2.
We could see a 12X pump from XRP in 2.0 bull run.
From where it is now, bouncing around $1 at the recording of this video,
means conservatively I can actually see a $12 XRP this year.
But my most bullish prediction is that institutional money really starts to rip.
It could push XRP up 35X from where it is today,
meaning a possible $35 XRP by the end of this year.
Those are massive gains,
especially if you've been stacking XRP since the early days.
It's still possible to find XRP, but you have to look on these secondary exchanges.
Of course, for full disclosure sake as we always do,
I earlier this year publicly announced that I've added XRP to my portfolio.
There are still a lot of variables though to play,
especially with this history-breaking bull market we're in,
but if the FUD clears out,
we can be looking at a W-shaped recovery
that sends XRP out of the atmosphere.
Companies large and small are practically begging for a crypto to get their act together
and offer a quick, easy internet payment system that they can integrate with their services.
Even old money monoliths like Goldman Sachs are talking about XRP
and what it could mean for transactions across international borders.
XRP has the secret sauce to not just scale
but the easiest way for banks and businesses to settle their accounts that have differing fiat currencies.
Other sources are saying that the G7 are looking at XRP as the settlement system between countries' central banks.
The main draw for XRP besides its quick transaction time is its On-Demand Liquidity,
which is a total game changer
for businesses in emerging markets.
Now, only countries in the G10 have enough banking infrastructure and cash in their economies
to quickly exchange money across borders.
Other countries that lack those capabilities are stuck trying to prefund bank accounts
so they have enough money to make up for currencies fluctuations.
This sucks up a bunch of resources.
That makes them less competitive.
But XRP aims to fix that.
And in doing so,
more competition would be added into the world economy.
All this is starting to sound kind of centralized.
Ew.
And it could be.
But XRP is a proof-of-stake coin and is built on similar trustless algorithms as other cryptos.
There is an open channel on Ripple Labs website
that shows anyone how to set up an XRP verification node.
The XRP blocks are all verified in public and searchable on block-exploring websites.
Could this mean that banks are unwittingly taking a step towards decentralization?
Maybe.
But it's a step towards crypto adoption for sure.
And that's a great thing for the whole cryptoverse.
Don't forget this other super fast coin that is a direct competitor to XRP,
Stellar Lumens.
Stellar was started by Jed McCaleb after he was outed from Ripple Labs in a bitter separation.
XLM could raid and nip at XRP's heels
and has already made lots of positive moves in the past few months.
XLM has seen a pump in price and market cap in this bull run,
which is in line with the other altcoins that have pumping.
But the main thing that is keeping XLM in the running
is it has managed to simply stay listed on all the major exchanges
including Coinbase,
while for XRP, trading has been halted across many sites.
While XLM doesn't get all the press that XRP does,
having this extended amount of exposure to retail and institutional investors alike
is sure to help its prospects in the long run.
So will XLM ever catch up to XRP?
I may do a deep dive on XLM in another video,
but, so far, I believe the momentum right now is returning to XRP.
So that's my expectation for XRP, but what about yours?
Comment down below with your XRP price prediction.
Let us know what other coins you want us to take a look at in this bull market.
That's all I got.
Be blessed.
BitBoy out.