Originally aired on July 19, 2023
XRP Surges on Ripple Lawsuit Progress as Markets Rally
The cryptocurrency XRP saw a massive price surge after a judge’s ruling indicated some XRP sales are not securities in Ripple’s ongoing lawsuit with the SEC. The upbeat host Wendy celebrates the gains made by XRP investors, while cautioning the lawsuit still continues. She analyzes the nuances of the judge’s decision, with Ripple winning on some issues but not others.
Wendy stresses the importance of bipartisan legislation like the Clarity Act to provide regulatory clarity for crypto. Other updates covered include the arrest of Celsius CEO Alex Mashinsky, Coinbase adding support for Helium, and Elon Musk launching an AI firm. Criticism is directed at the IMF for urging protection of fiat currencies over crypto and the SEC for unclear guidance stifling innovation.
Wendy O urges investors to take profits on early XRP purchases using a percentage-based gains harvesting strategy. She emphasizes realizing gains in asset prices rather than watching fluctuations. She concludes by analyzing Bitcoin’s bounce off support levels as crypto markets rally.
What triggered the massive price surge for the XRP cryptocurrency?
- Judge’s ruling that some XRP sales are not securities
- Caution that Ripple lawsuit with SEC continues but sets good precedent
- Investors euphoric at Ripple’s progress after years of waiting
What developments were highlighted related to crypto regulation?
- Discussed judge’s nuanced ruling in Ripple versus SEC lawsuit
- Stressed need for clear legislation like bipartisan Clarity Act
- Covered Celsius CEO Alex Mashinsky arrest and other updates
How should XRP investors manage holdings amid the price rally?
- Take percentage-based profits on early purchases
- Avoid getting caught up in hype cycle around gains
- Focus on realizing actual gains rather than watching prices
What criticisms were made of financial institutions and regulators?
- IMF urging protection of fiat currencies over crypto
- SEC providing unclear guidance that stifles innovation
- Attacks on crypto by legacy finance entities
What non-crypto promotion was featured in the video?
- WineChain’s new NFT marketplace for rare collectible wines
- Let’s buyers trade tokenised bottles of wine
- Provides authenticity and traceability with NFTs
00:00 – Intro
04:00 – RFK hot take on Bitcoin
09:35 – XRP price analysis
09:55 – BTC price analysis
10:40 – IMF wants to protect fiat from crypto
12:45 – Yikes! New bill regulates defi like banks
18:55 – Third largest bank in France gets crypto license
19:35 – Nasdaq halts crypto plans
25:00 – Dormant ETH address moves millions
27:30 – Celsius Network could pay off USD claims if this happens
29:00 – Terra Luna new CEO
33:30 – Polygon MATIC 2.0 new roadmap updates
35:55 – Why is XLM up?
37:15 – SECs poor leadership