A Potential Breakout for XRP on July 30
The Triangular Pattern on Charts
The upcoming date of July 30 has been generating a lot of buzz among cryptocurrency enthusiasts, especially those interested in XRP. A potential breakout of XRP is expected on this day, as indicated by the formation of a triangular pattern on the charts. While this breakout is already significant, there are circumstances that could make it even more impactful.
Events Leading Up to July 30
In the days preceding July 30, several significant events have taken place that contribute to the anticipation surrounding XRP. One remarkable development is the recent announcement by the International Monetary Fund (IMF). On July 25, 2023, the IMF declared that Bitcoin and most other cryptocurrencies are not recognized as legal currencies. However, XRP was an exception to this ruling, with the IMF acknowledging its suitability for international payments. To see the proof of this announcement, you can visit my Twitter page, Occur to Your News, where I have shared the relevant news article.
Key Alliances Formed by Ripple
Ripple, the company behind XRP, has also managed to forge significant alliances in recent days. These partnerships further highlight the potential breakthrough anticipated for XRP. Additionally, Ripple’s services have been expanded across all 25 payment corridors, strengthening its position in the cryptocurrency market. Moreover, the Republic of Palu recently announced that its Central Bank’s digital currency will be placed on the XRP Ledger. This move holds great significance for XRP, as it validates its importance and potential in the digital currency landscape.
Exciting XRP Giveaway
Before concluding, I would like to remind everyone about the exciting XRP giveaway that I am organizing. We will be giving away free XRP to one lucky winner. Entering the giveaway is simple all you need to do is like this video, subscribe to the channel, turn on post alerts, and share this video with a friend or relative. We will reveal the winner once we reach 20,000 subscribers. Best of luck to all!
As the date of July 30 approaches, XRP enthusiasts are eagerly anticipating a potential breakout, driven by the triangular pattern on the charts. With recent events such as the IMF’s recognition of XRP and Ripple’s strategic alliances, there is a strong belief that this breakout could have a significant impact on XRP’s future. Stay tuned for further updates and keep an eye on the XRP market.
The Importance of Market Capitalization for XRP’s High Price
One of the main concerns when discussing the high price per XRP is the market capitalization. Market capitalization is an essential factor because it assigns a value to XRP. The market cap cannot be at one million dollars if the value of XRP is one dollar and there is a higher supply in circulation.
The Calculation of XRP’s Precise Market Cap
To address these concerns and provide a clearer perspective, let’s calculate the precise market cap required for XRP to reach $35.76, assuming a supply of 50 billion dollars in circulation. In this scenario, the market cap would need to be 1.07 trillion dollars. This may seem like a daunting figure, but it is actually very likely, considering the frequent milestones reached by XRP.
XRP’s Impressive Performance and Growing Adoption
XRP has consistently set new records, as reported in an article published on the website cryptoalert.com. The article highlights that the XRP Ledger is now processing over a million transactions per minute. During the same period, Ripple’s partner, American Express, experienced record transaction volumes on their transfer platform. This data demonstrates the growing adoption and use of XRP.
As Ripple continues to expand and gain wider adoption, its market value will naturally rise. This can be attributed to a lower supply and increasing demand. Additionally, Ripple has been successful in establishing partnerships with over 120 financial institutions as of July 16, 2023. This significant achievement further solidifies the potential growth of XRP’s market capitalization.
The Ripple SEC Case and its Impact
It is important to note that the Ripple SEC case had just concluded around the same time as the aforementioned milestones. The resolution of this case removes a significant regulatory uncertainty that may have hindered XRP’s growth. With this legal matter behind them, Ripple can now focus on further development and expansion, leading to potential increases in market capitalization.
While the market cap required for XRP to reach a high price such as $35.76 may seem daunting, it is indeed possible. Considering XRP’s impressive performance, growing adoption, and the resolution of the Ripple SEC case, the path towards higher market capitalization becomes more feasible. As holders of XRP continue to desire and retain their holdings, the market capitalization of XRP will inevitably increase, bringing potential gains to investors.
The Declaration: XRP is Not a Security
Summary judgment was used by the judge to declare that xrp is not a security. This is a significant development in the world of cryptocurrency and has implications for the future of Ripple’s digital asset. The ruling brings a sense of clarity and legitimacy to XRP, allowing it to continue its growth and adoption in the market.
XRP Ledger: Built for Global Scalability
The xrp Ledger and xrp currency are wonderful creations, designed with the vision of global scalability. Unlike some other cryptocurrencies, XRP was built to handle high volumes of transaction volume and market value without causing any system crashes or concerns. Arthur Bruto, co-founder of Ripple, has gone on record to confirm this scalability, envisioning XRP reaching worldwide adoption and potentially even a price of ten thousand dollars.
XRP’s Goal: Supporting 7.5 Billion People
In order to achieve its ambitious vision, XRP must be able to accommodate the entire globe, which consists of approximately 7.5 billion people. This is crucial for its path towards achieving the ten thousand dollar price target. Scalability is of utmost importance, as it would enable XRP to handle the transactional needs of billions of individuals, making it a viable digital asset for global adoption.
XRP: The New Bitcoin?
There has been much speculation and excitement surrounding XRP in recent days. A headline stating “XRP is the new Bitcoin and is on its way to $59,472” drew significant attention, even though it was quickly taken down by Forbes. However, further investigation and evidence have emerged to support the initial claim. A Google-based ad technology called Bard Add verified that Forbes did indeed influence the publication, suggesting that there may be some truth to the headline’s prediction.
Future Prospects of XRP
With the declaration that XRP is not a security and its inherent global scalability, the future prospects for XRP are looking promising. As more people become aware of its potential and utility, the demand for XRP may continue to grow. Although it is important to approach cryptocurrency investments with caution and do thorough research, XRP’s unique features and vision position it as a strong contender in the digital asset space.
The recent declaration by the judge, confirming that XRP is not a security, brings a sense of stability and legitimacy to Ripple’s digital asset. With its global scalability and ambitious goals, XRP has the potential to further disrupt the cryptocurrency market and potentially reach a price of ten thousand dollars. While speculation and headlines may come and go, it is vital to consider the underlying technology and long-term prospects when evaluating any cryptocurrency investment.
The Rise and Fall of XRP: A Deceptive Tale
A Dubious Claim
Recently, a controversial article surfaced on Forbes, proclaiming that the new Bitcoin is none other than XRP. According to this article, XRP was projected to reach a staggering $59,472, an amount that would surpass even the popularity of Bitcoin itself. However, this seemingly optimistic prediction was short-lived, as the article was swiftly taken down just moments after it went live.
Unmasking the Author
The author of this dubious piece was none other than John Smith, a name that beckons skepticism. It was discovered shortly after publication that John Smith was a fictitious figure, created with the sole purpose of manipulating XRP’s value. This revelation raised red flags and led to the immediate removal of the article from the reputable Forbes website.
A History of Deception
Regrettably, this is not the first time that Forbes has been exploited as a platform for promoting cryptocurrencies under false pretenses. In 2017, an article emerged claiming that Bitcoin would skyrocket to $1,000. Unfortunately, this too turned out to be a fraudulent statement, leading to the prompt removal of the deceptive article. Such instances highlight the importance of thorough fact-checking and vigilance when it comes to information pertaining to cryptocurrencies.
The Damage Done
The consequences of these misleading articles extend far beyond mere deception. The intentional manipulation of cryptocurrency values not only undermines the integrity of the market but also harms unsuspecting investors. This unethical behavior takes advantage of individuals who place their trust in reputable sources like Forbes, ultimately leading to financial losses and tarnished reputations.
The Future of XRP
Despite these setbacks, the future of XRP remains uncertain. Genuine potential lies within this digital asset, and its success should not be discounted solely based on the actions of deceptive individuals. In the ever-evolving realm of cryptocurrency, it is crucial to remain cautious, relying on trusted sources and conducting thorough research before making investment decisions.
The short-lived and deceptive article on Forbes claiming that XRP would surpass Bitcoin in value serves as a cautionary tale for investors and readers alike. Trustworthy sources, thorough fact-checking, and a healthy dose of skepticism are indispensable when navigating the volatile world of cryptocurrencies. Let this be a reminder that sound judgment and prudence are vital to safeguarding both our investments and the integrity of the digital currency market.
