In this article we are going to see about Ripple XRP: They Want Retail Traders OUT! (Be Careful!!!)...



  •  What’s up, guys? I hope you are all having a fantastic week so far. A lot has been happening throughout the week, and it was all being reflected in the price of XRP. But it seems like the market is trying to recover again. As we can see on Coinmarketcap.com, we are currently at $1.26, and the price has been up by 5.06% over the last 24 hours. We will rev those engines with this tweet from @FilanLaw that says, “Defendants Ripple and Larsen file Motion to Compel the SEC to answer interrogatories identifying the SEC’s theory of how the Howey Test applies to virtually all of the Defendants’ transactions in XRP over the last eight years.” Guys, you must watch the entire video because we are in some exciting times. We are closer to something significant that is bound to happen in the coming months. 

  • As we all can see by now, the SEC is really hanging by a thread. So, these are the times where we tell you to hold on to your XRPs and put them safely in a cold wallet because we are almost there. Now, further in that tweet, Filanlaw shares a link to a dropbox file that we will dig in a few. Looking at that document, we can see that, “On December 22, 2020, the Securities and Exchange Commission commenced this unprecedented enforcement action alleging that virtually all of Defendants’ transactions in XRP over an eight-year period were investment contracts under SEC Howey (1946). The SEC further alleged that Defendants’ multifarious transactions during this period were part of a single, integrated distribution of securities subject to registration under Section 5 of the Securities Act of 1933.” So basically, the SEC is saying that all these transactions for the past eight years have been going against the Howey Test, so they are essentially securities. Further into that document, we can see that ‘The SEC, however, has resisted any attempt to pin down its theory of the case. Defendants served interrogatories pursuant to Local Rule, seeking to identify the ways in which the SEC contends Howey applies to all these transactions.” So basically, what’s happening here is that Ripple was seeking guidance on what to do and how to not to be a security. ‘The SEC, however, refused to provide this information contending the defendants are seeking irrelevant information. 

  • But, as set forth below, each of Defendants’ interrogatories is properly designed to elicit binding statements from the SEC necessary to “narrow the scope of litigation, reduce the element of surprise, [and] serve as admissions for trial.” This document is bringing to light that Ripple reached out to deal with this problem, but the SEC didn’t provide them enough guidance or a theory why these transactions are securities. ‘Under Howey, an investment contract exists where “a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party. Defendants’ interrogatories seek, as Rule 33permits, binding representations from the SEC as to how it contends Howey applies to this case, as well as identification of the factual support (if any) for those contentions’ Right now, all Ripple wants is a response from the SEC. They just want a theory explaining why all these transactions from eight years are being deemed securities now because at no point did they give any guidance. Moving forward, we have this other tweet from @D1_DrPablo that says, “And so it begins!” Further on that tweet, he shares a link to an article posted on Coingeek.com with the headline, “Tether banned on Canada’s first 2 licensed digital currency exchanges.” This is something that we have mentioned time and again on this channel. If you guys have your money on Tether, it’s time you take it out. Put it either in an asset or even USDC, something that’s just safe- I know you will figure it out. Tether is really risky at the moment. If we look at that article there, we can see that “A Canadian securities regulator has barred the country’s first two registered digital currency exchanges from trading Tether (USDT). The stablecoin, which is seemingly printed at will and has been deeply linked to alleged market manipulation, is the only prohibited digital asset in the country to date.” This is just the beginning! They have banned Tether, and soon this will happen over all other exchanges and places as well. It was a ticking time bomb, and thus right here, guys are just the beginning of the end. Moving forward, we have another tweet from @CryptoWhale that says, “JUST-IN: SEC Has officially charged global lending platform Bitconnect and top executives in $2 Billion fraud case.” Now I’m sure you are all wondering what’s important about this case. Well, the SEC, on September 1, filed a lawsuit against BitConnect. Immediately after the month of September started, the SEC has started regulating things. 

  • This is what is going to happen now; there are going to go after everything. ‘The Securities and Exchange Commission announced today that it had filed an action against BitConnect, an online crypto lending platform, its founder Satish Kumbhani, and its top U.S. promoter and his affiliated company, alleging that they defrauded retail investors out of $2 billion through a global fraudulent and unregistered offering of investments into a program involving digital assets.’ As we mentioned in the previous tweet, Tether got banned. Right now, most of these cryptocurrencies are not in the right state, as anything could just happen anytime now. I know you have heard this so many times already, but 99.9% of cryptocurrencies will be banned. @LeoHadjiloizou, “The Ripple Wallet that funds Tacostand is now officially EMPTY. A year ago, this wallet held more than 4 billion XRP. Tacostand balance: 709,911 million XRP.” I don’t know how many other signs you want to see to believe what’s coming. It’s time to move, guys.

  •  This is precisely the time. Further ahead, we have another tweet from @BBCNews, “Thursday F.T.: “The U.K. draws up plan to shift Trident subs abroad if Scotland secedes.” If we look at that paper, we can see a story there that says, “SEC Chief Says Crypto platforms must accept scrutiny if they want to survive.” This is something Gary Gelser said; look, only these things come in the media if they want to make you afraid and sell your cryptocurrency. At this point, you have to make a tough decision as to whether the fear will get to you or you will stay strong through it all. On top of that, we have this tweet from @Ripple that says, “Want to learn why the XRPLedger is perfectly suited to power NFTs? Tune in to hear CTO JoelKatz share exclusive insight on our recent RippleDrop episode.” If we look at this article that Ripple shared on their website, we have the headline, ‘XRP Ledger Unleashes the Full Potential of NFTs.’ ‘David Schwartz, Ripple’s CTO, shares the latest on the white-hot NFT trend and why the XRP Ledger is ideally suited to help grow NFTs even further. Though collectibles are the biggest NFT use case today, David suggests we’re just scratching the surface. He envisions a future where NFTs are the foundation of all digital rights management, even one where consumers could move away from services like Kindle or Apple to directly own the rights to purchased books and movies. 


  • David believes the XRP Ledger delivers a unique combination of the low cost, high speed, and good payments features needed to streamline NFT creation at scale. In particular, he points to the Ledger’s ability to maintain consistent transaction fees—something which is impossible on most other platforms today—as a key benefit for both buyers and sellers. David also reveals that federated sidechains—blockchains that operate alongside other blockchains—could be available for the XRP Ledger in the coming months, opening up a host of exciting possibilities, including limitless transaction scalability and expanded DeFi capabilities.’ As we all can see here, banks can very soon start using their own blockchain channels, which is something, huge guys. And the NFTs that have been using Solana because of the high gas fees from the Ethereum blockchain, I feel XRP can do a way better job with this. XRP can generally do better than Solana with the NFTs, and when that time finally comes, it will be crazy because, as you, all know NFTs are really hot right now. This is something we should all be looking forward to. 


  • With that in mind, let’s take a look at the charts. XRP has cleared the 0.702 retracement in the short term and looks good for a retracement to 0.702 i.e 1.54usd. After this run to 1.5usd region ,XRP may consolidate for a while as seen in 2013 and 2017 cycles where XRP waited for BTC's peak and only started its explosive rally near the peak of BTC in previous market cycles.[assuming that 65k in BTC is not the peak of this market cycle] Using the rally prior to BTC's capitulation ,placing the 0.236 extension on it, XRP reached out to its full 4.236 extension in 2017 May Rally. In both cases, XRP's price tumbled heavily after reaching 0.702 retracement. Current 4.236 extension lies on 11usd. Structures are matching up at this point. As always trade safely guys! Please keep in mind.


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