Ripple XRP: Global Changes To “Digital Assets” & The European Central Bank Eyes Ripple & XRP

hey guys and welcome to the working money Channel so a snapshot of the crypto market today everything is quite stagnant not too much movement in the space other than a few coins hereby Nance coin Wow up 11.8 1% trading just shy of 32 dollars per coin and bitcoin sv at sixty three point eight two percent and so we're gonna get to that a little later but right now we're just gonna look at the charts and this is Bitcoin again look at this spinning top candlestick some indecisive movement up and down we saw the price go as low as about seventy six seventy four and then as high as about 80 100 for Bitcoin yesterday on a small body so we saw a lot of move up with a lot of volume and this is Bitcoin on a daily guys so a lot of volume and then slight moves down with volume decreasing okay and so sellers are finally kind of happy with where they're selling their Bitcoin at in and around this price range here so when so at this point the question is one of the sellers gonna get exhausted and when are we gonna see more buying momentum and you can see this in the charts right a lot of buying up here and then selling selling selling but the selling is becoming less and less so there's a lot even though the price is moving lower and there's not enough buyers to fulfill seller demand that equilibrium is not so out of whack that the price is fluctuating like it did on this day for example when it went all the way down and then all the way up so we saw a lot of buying pressure and then slight selling pressure so ultimately when will that balance become out of whack so that more buyers will be interested in buying Bitcoin again and that will influence the rest of the crypto market as you can see we have been trading in this zone for a while now okay let me just draw it for you guys here alright and okay so we've retraced in this zone and then the next zone we need to find is up here so in and around the let's say give or take 9500 to $10,000 range that is the next level of resistance we need to hit and so we are hovering in here okay just shy of that there right but we're we're hovering in here and then we need to hit this zone up here this is the next one we'll probably make another move up and then breaking 10,000 I think will be the next big leap that could initiate FOMO depending on how the news breaks the story Bitcoin breaking 10,000 dollars yet again and just a quick look at X RP okay again guys on the daily and yeah so same kind of pattern here there was a huge leg up here a few days ago and then down slight selling pressure and selling pressure is getting lower as indicated by the volume so really we're at the mercy of Bitcoin let's see what it does in the market we'll follow a few items in the news just gonna skim over some of this XRP ripple our threes quarter to further partnership with credit union centric Cu ledger this is from a MP crypto guys I'll link all these articles in the description x RP crypto wolf sent me this at x RP crypto wolf and this is part of a bigger point that I wanted to hit home that I hit home the other day Japanese Parliament moves new crypto regulations to the upper house and let me just read you a little bit of this the Japanese House of Representatives have passed new crypto regulations in the upper house of the National Diet local news agency Nikkei reported on May 21st the lower house is reported move crypto related amendments to the existing financial law of the house of counsels okay according to the Nikkei the amendments are these items here where is that the amendments reportedly extend the regulation by adding legislation to cryptocurrency margin trading so again margin trading is something we've traditionally seen in the securities market we have not been able to trade on margin and cryptocurrency before and so this is just going to the point of regulations are occurring cryptocurrency will be an asset that will be traded it will be the newest financial asset hitting the market and so a lot of these countries like Japan are creating laws that will be reflecting that the new law also includes a change of cryptocurrency terminology and guys this is what I said yesterday altering the new term virtual currencies to crypto asset I think all of these countries want to step away from the term currencies be they're realizing that they do not want to confuse the people investors who will be getting involved in trading these assets not currencies they don't want them to believe that the properties are similar to currencies which traditionally do not fluctuate so wildly in value like crypto currencies do and this is becoming a trend another one here from crypto wolf Israeli Court rules Bitcoin is an asset and they are essentially doing the same kind of thing so the latest court ruling just down here on the nature of Bitcoin and Israeli a central district court reportedly ruled in favor of the country's tax authority Monday recognising Bitcoin as a financial asset and not a currency really really interesting stuff going on and all these countries as you can see and this is just two examples guys but I'm sure there are more looking to label crypto currencies with new terms like digital assets and financial assets and so to me at least this paints a very clear picture of what is going on governments banks regulators everybody needs to get on board with one thing and they are realizing that people want to make money trading and since all of us around the world have a clear notion of what a currency is they need to make a clear distinction of what is a currency and what isn't a currency they want to align crypto currencies now crypto assets or rather digital assets or financial assets along the same lines as stocks for example this I hope will help clear things up as we move forward with regulations and so this in the news as well by Nantz research our altcoins about to make a comeback I thought this was interesting from finance research and this is a chart that they just put up on their Twitter here so alt coins staged their strongest 7 day rally in five months total altcoin market cap denominated in BTC has arisen fifteen point seven percent over a seven day period hooray for altcoins as you can see the last time here was December 23rd to 29th the largest 7 day increase was 16.2% and then the largest one since then was down here so 15.7% increased since May 14th as you guys know by Nantz coin has been killing it recently look at look at the moves on this thing it is actually overshot it's former all-time high back in the bull run of late 2017 early 2018 based around here and now it is making new highs full disclosure I hold a little bit of bi Nance coin but I did not buy anywhere near where I should have been buying bi Nance coin I'm kind of holding it as a bit of an afterthought you know sweep all my crypto dust from finance into bi Nance coin and I and I own some and then around this point here I stocked up a little bit because after seeing this huge move I'm like well there's something to be said about this as we know the company's doing some really great things in the space but ultimately guys my eye is on the prize it's not on Finance coin I'm not gonna be a millionaire from finance coin ah Nordic and that's at Nordic an tweeted this out from the Tron weekly comm ripple and Swift representatives dialogue at the European Congress organized panel watch the video here and guys again I'll link all this in the description I'll just read you the highlights though with Swift and ripple so Swift the panel opened with a representative from ripples direct competitor representative in a sense mrs. Duvall ders first intervention in which he explained that while the financial services of the world are quickly changing everywhere they're doing so more rapidly in Europe because of the eurozone central bank is pressing the changes and it has placed deadlines that every member must meet ECB or the European Central Bank is pushing for the market to be more competitive so that the services offered by the system are better cheaper and more reliable also in Europe there is an issue of every users right to be forgotten which also applies to banks and financial institutions the ECB also worked hard to develop and deploy a pan-european payment system which went online last November besides increased competition ECB's regulatory Drive is focused on bringing new services to the public and increasing liquidity boy all this sounds like stuff ripple is very very good at so a lot is going on at the same time which makes the European theater the most advanced in the world when it comes to financial modernization excuses excuses excuses and ripple next it was mrs. Dillon teens turn as expected she talked about open banking and blockchain technology the idea in open banking is for all payments operations to be fully digital if that idea is going to catch the minds of users then they will have to trust the system and blockchain technology is the best trust Broker available she went on to explain that ripples priority is to facilitate interoperability among different financial networks that's how it can be and will help the European systems to meet the ECB's deadlines come up with new services and take good care of customers so Europe is way more advanced than the rest of the world when it comes to the adoption of new financial technologies especially the UK that means that many new services will start there and then as the banks and financial institutions learn how customers react to new ideas they will expand to the rest of the world the prominent role that European banks play everywhere in the world except for Wall Street will surely expedite that process new and exciting things are coming in the world in terms of financial services the actual ownership of your wealth and freedom it seems that they will start in Europe and blockchain technology and crypto currencies will be at the heart of everything and of course ripple might benefit the most so on the one hand we have the representatives from Swift saying well the markets changing and we have to make changes in there's reasons why everything's going so rapidly and you know the region is looking to modernize in these ways and ripple is ultimately saying well here we are now let's do business folks and when we look at the representative from Swift's response here talking about the ECB needing all these things right that they're pressing for changes and it has placed deadlines and that they're pushing for the market to be more competitive so that services offered by the system are better cheaper and more reliable we have Brad Garlin house tweeting this out great to see the ECB european central bank come out with a clear POV on crypto assets notably that XRP is recognized as one of the most important in terms of usage market cap and business model diversity so we know where everybody's eyes are we see Brad Garlin house at these conferences among other representatives from ripple and I can taste regulatory clarity in the air guys I feel like it's really really really close I'm glad all of you have been patient and Hotaling your XRP because one day it will happen in it'll catch us all by surprise anyways that's just my opinion but I want to hear what you guys think please subscribe to the channel if you haven't already like the video if you like the content I'm providing I always love hearing your comments see in the next one guys

25 thoughts on “Ripple XRP: Global Changes To “Digital Assets” & The European Central Bank Eyes Ripple & XRP”

  1. Would you mind helping me understand what is going on with the discrepancies that CoinMetrics found and how it could impact Ripple? I am worried.

  2. XRP is the most heavily manipulated, just watch the action when it goes up, your saying sell pressure is losing it's hold and that is so not the case. Look at the long ass wicks on the candles. XRP gets shoved right back to where they want it. The big banks are going to create their own blockchain solution not use XRP. They will never give up control to an outsider, never. It's all smoke and mirrors. When will people realize that the news thats in your face is always the distraction from whats really going on? It's the dog and pony show folks, all for the pheasants.

  3. I don't understand the reaction from most people in the crypto market. There was a major resistance zone around $6400 and bitcoin broke through that zone. What happens is that resistance zone becomes support. You could see the price slowing down around $8500 mark and going to reserve, earlier when I was new to the crypto all i did was HODL but you can be affected anytime there is fall in price but ever since I came across Mr Castro edwin who introduced me to his trading signals and strategies on her telegram group then I know instead of just HODLing you can just trade with the right trading signals and that can generate you great profit. I use to loose, trading on my own but my first trial with Mr Edwin’s trading signal gave me about 3.4BTC in 3 weeks . Trading successfully is just trading with accurate trading signals. I am spreading this for those who have issues in turning in consistent profit in the crypto market. You can contact him on Gmail(*castroedwin195(at)gmail. com/ **Telegram @castroedwin1/Whatsapp +18454007574* for any related question about crypto.

  4. After reading about regulation possibly coming in June, I can also remind me that the CEO from SWIFT has resigned by June. Coincidence?

  5. I know the feels, my Canadian crypto friend. I’ve bought most of my BNB between 8 and 15 dollars so the price right now is fantastic. But still… my total amount of BNB will never make me rich.

  6. if we dont c end of this month a .50$ move then we heading to .30$ . 1 bill added to cycle and reduce market value.

  7. I will have the strength and patience to hodl till $90.00. I will have the strength and patience to HODL till $90.00. I will have the strength and patience to HODL till $90.00. I will have the strength and patience to HODL till $90.00!

  8. Im pretty sure if a person just buys everything with btc.. Its a currency in his life. Which its definitly ganna be possible. Definitly with another coin or few.. Id say nothing law is set in stone yet because if they really cant control crypto.. Laws with be changed n added to try n control it..i see both ways being possible.. We Will See!

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