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In this article we are going to see about RIPPLE XRP:Main agenda to delist XRP...
- The main agenda for delisting XRP is to ensure that this coin goes straight to retail. Guys, the whales are trying to get you out of the game. Once XRP goes to retail, this coin will moon within days. Like I’ve always said, XRP is going to the moon overnight. That is about to happen right now. RealXRPBoy shared this tweet where XRP was talking about their breakthrough in tokenization to streamlined global payments. The company is helping to build an internet of value, which is a modern financial infrastructure to lead everyone into the new era of global finance. Now, you tell me: do you think delisting this coin will stop their future? I think not. We are all playing a checkers game while the whales are playing chess. That’s why it’s virtually impossible to understand the truth about cryptos future if you’ve not taken keen notice. For instance, right now, after the news dropped of Canada’s exchange delisting XRP, newbies must have freaked out and dumped their coins, right? That’s precisely what they want you to do. I’m not the only one who noticed that we are being played.
- That’s precisely what is happening with XRP at the moment. But don’t be swayed by all the predictions that this coin is about to fall. This tweet shared by @RuleXRP says, ‘#xrpcommunity Down pointing backhand indexUnamused face. Remember, @SecYellen was paid over $7 Million by the banks for speeches. The Show is only beginning. @JohnEDeaton1 @digitalassetbuy @BakkupBradley Cryptocurrency advocates find Treasury’s Yellen to be a tough sell’ Things are about to get interesting, especially in the whole crypto community. The article shared in this tweet speaks volumes about what is happening in the crypto world. The article reads, ‘In April 2018, some of the biggest names in central banking filed into an auditorium at the Brookings Institution for one of the think tank’s first major presentations about cryptocurrencies. The governor of the Swedish central bank was there, as was the head of the Bank for International Settlements, and a former governor of India’s central bank. Janet L. Yellen — recently dismissed from her post as chair of the Federal Reserve — sat in the front row and listened attentively.
- The price of bitcoin was around $7,000 at the time, down more than 50 percent in three months. “Yellen seemed to share the view that these were not a viable set of financial assets, and that getting them regulated properly would be a challenge, but one that was important to do,” said Eswar Prasad, who delivered the presentation and discussed digital currencies with Yellen while they were both at Brookings. Yellen is now President Biden’s treasury secretary, and her posture toward cryptocurrencies has drawn more scrutiny as she oversees the first major push by the U.S. government to regulate the digital assets that have become a trillion-dollar industry. Bitcoin is just one of several cryptocurrencies in circulation, but it has shown increased reach and volatility just during Yellen’s brief tenure at Treasury. The price of bitcoin rose above $60,000 for the first time in April, before plummeting below $35,000 in May — before again rising to around $50,000 this week. Cryptocurrency supporters and investors have hoped for some sort of validation by the federal government that stops short of enhanced scrutiny, and Yellen appears to stand in their way. An initial wariness of Yellen has quickly morphed into outright hostility. Investors and lobbyists were incensed by Treasury’s push this month for new tax reporting requirements on cryptocurrencies as part of the $1 trillion infrastructure package. They complain that Treasury officials do not return their calls, refuse to take their views seriously and do not give them advance notice about moves related to their industry. (A Treasury spokesman rejected this characterization.)
- Backers of cryptocurrency have lobbed thousands of posts on social media and in chat forums claiming that Yellen wants to annihilate the industry. One crypto podcast, “Thinking Crypto,” alleged that “Yellen is a lap dog for the bankers,” and another accused her, inaccurately, of supporting Modern Monetary Theory and being beholden to a “nanny-state mind-set.” The uproar is likely to grow louder before it subsides. If the Senate infrastructure bill passes and becomes law, Yellen will face the difficult task of implementing the new reporting requirements to crack down on crypto tax evasion without angering supporters of the industry in her own party, such as Senate Finance Chairman Ron Wyden (D-Ore.). (The new crypto reporting requirements would raise roughly $28 billion over 10 years, according to nonpartisan estimates.) Other Democrats are pushing Yellen to crack down more aggressively. Yellen faces pressure from Sen. Elizabeth Warren (D-Mass.) to accelerate a review of the impact of cryptocurrencies on the stability of the financial system that could result in strict new guardrails. Yellen has also prodded her former colleagues at the Federal Reserve to move quickly on a “central bank digital currency” — a virtual currency to compete with crypto that would be run by the government rather than by private individuals.’
- ‘If I were ever able to make an argument before the Court on behalf of #XRPHolders, I would ask permission from the Court to allow me to present a video compilation that summarizes the inconsistencies and nonsense spewed by the #SEC and I would hire @INotoriousxrp to do it!’ Deaton points out directly that he can actually get this court case dismissed because he and the rest of us can see there’s nothing to sue Ripple for. The company, since its launch, has been working with the government closely because, honestly, it will need the central bank to ensure a successful next phase. And now that we might be exposed to crypto regulations and taxes, XRP will be the only coin to survive such rules. The whales are hoping to cash in on that, and that’s why XRP is currently dropping before it makes a swing to the top. An article on Yahoo also highlights more about crypto taxes. The article reads, ‘The House takes up the bipartisan infrastructure bill this week. Industry advocates are pessimistic about their chances of inserting an amendment to modify the crypto tax provision, which they’ve suggested might outright kill the U.S. crypto industry or drive it out of the country.
- But there’s still a lot we don’t know, including whether the bill will be passed or how the Treasury Department will interpret the law. In last week’s newsletter, I wrote about how non-crypto issues might hold up any crypto-related amendments. It’s looking increasingly likely that this will happen. The outcome of this crypto provision will likely be decided by issues that have zilch to do with crypto. The House of Representatives is taking up the bipartisan infrastructure bill this week, having cut its summer recess short. I wrote last week that non-crypto issues would determine the fate of the crypto provision. As of 5 p.m. Eastern yesterday, that seems to still be true. Lawmakers are, as of Monday night, still grappling with political issues like whether a massive $3.5 trillion reconciliation bill will be sent to the House before they take up the bipartisan bill, and so crypto issues are far from front and center. First: My understanding as of Monday, based on multiple conversations with insiders who asked not to be named in order to speak candidly, is that the U.S. Treasury Department is looking to clarify its authority to impose tax-reporting requirements on crypto exchanges and certain decentralized exchanges.
- Specifically, Treasury appears to want to capture DEXs that have intermediaries as part of their platforms, rather than true peer-to-peer projects. The crypto tax provision rose out of this perceived need. The Joint Committee on Taxation (JCT), which projected that the provision would raise $28 billion over 10 years, still hasn’t explained how exactly that figure came about. Stronger information reporting rules would boost compliance, meaning JCT’s projected figure is based on an assumption that just by encoding the crypto tax provision, more exchanges or other trading platforms will provide the reporting information that some exchanges already provide. That, in turn, is expected to bring the total amount of tax revenue generated through crypto transactions over the 10 years after the bill is enacted up to the $28 billion figure. Of course, that is all subject to Treasury interpreting the final bill, which cannot happen until the bill itself is passed by the House and signed into law. As of now, House Speaker Nancy Pelosi (D-Calif.) is targeting an Oct. 1 deadline for passing both the bipartisan infrastructure bill and a reconciliation bill driven entirely by the Democratic caucus.’ When the crypto regulations will hit, everyone will be shocked to death. I keep telling you guys, XRP is still the true coin and we are about to see that soon. That said, let’s take a look at the technical analysis. Guys, we are looking at the 4-hour timeframe perspectives. As I discovered recently in my analysis XRPUSD has completed a decisive formation in the schedule which is now confirming and lying ground for the next developments ahead of the upcoming times. As when looking at my chart now we can watch there how XRP completed this massive head-shoulder-formation with the elements of the formation already completed and with XRP recently bouncing below the neckline marked in blue.
- What is also pivotal here is that XRPUSD pulled back below the 60-EMA marked in green in my chart which held the bullish trend previously to the upside, the fact that XRP is now below this EMA and also below the neckline defines these two levels as main resistances. Now with this pullback came in XRP moved on to test the 100-EMA in the structure marked in red and XRP is now forming this bearish formation between the 60- and 100-EMA which is likely to convert into a bear-flag as this is a typical confirmation-formation occurring after such a head-shoulder breakout emerged. Now as these developments happened XRP confirmed the further continuations to the downside and activated the target-zone within the 0.955 Usd level marked in my chart in blue, once this level has been reached it has to be elevated if XRP manages to bounce in this zone or just sets up for a bearish continuation which will happen when XRP closes below the support, for now, we should not keep the bearish perspective out of sight here to properly prepare on incoming volatilities.
- Please keep in mind, I am not a licensed financial advisor.
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