#Not Financial Advice#
I know that many of you have seen this projection before. These are my thoughts. I understand the push back. I wanted to give a shout out to @BCBacker. You should watch today's BCBacker video. While I don't necessarily agree with his BTC projection (I am bias as I got my crypto start in Oct 2013 mining BTC), I will say that the monthly BTC dominance chart is looking a bit rough. My 38+ years in technical and value trading lends me to say that his analysis today is spot on. He is a great technician. I enjoy his work.
One must consider a positive outcome of the Ripple SEC case puts the fundamental case for XRP inline with this - You Have Seen This Before - projection. I say this having spent many years working in fixed income derivatives and interest rate swaps markets - specifically trading and exchange settlement processes. With this in mind, one also needs to consider that a Virtual Currency - Exchange Token - Utility Token XRP status puts XRP in a very interesting position regarding the unbelievably huge derivatives market. (Congress will not get there in time). I say this also considering Ray Dalio's thoughts on our changing world. Do consider where we have been since 1971 and what we have seen in the past two years. Do consider the comments coming from the same group of folks who put the EURO in place. 1971 aside, think of all that has happened since Mikhail Gorbachev visited the pits of capitalism in Chicago in 1992.
With the above in mind, please remember that U.S. Assets - Bills is currently a negative 123 Trillion.
Also consider Mark Phillip's LinkedIn article in April 2019 where he points out, "XRP will be a world reserve currency (and it will be used to pay off debt). It will solve the debt crisis without devaluing fiat currencies. For example, the U.S. government (and other governments) could buy XRP at very low OTC rates, which wouldn’t drive prices up on the retail exchanges. Likewise, major financial institutions could also stock up on XRP at extremely attractive prices. When all systems, policies, and agreements are in place, they simply announce that XRP will serve as a reserve currency. This drives utility and demand, which rapidly increases the price of XRP. The governments could then settle their debts using XRP, which would not devalue their fiat, because they would not be printing any additional dollars or other fiat currencies.
This would explain why the U.S. administration, the IMF, and the World Bank have been so positive about Ripple Labs, xRapid, and XRP. It would also explain why the SEC and other federal agencies have not yet weighed in on XRP’s status as a security or other type of asset. It would also explain why the price of XRP has been very steady at a low price for more than 15 months, despite a constant stream of positive news about partnerships, production deals, and so forth."
Additionally, keep in mind the words of Arthur Britto, "XRP must be scalable to accommodate 7.5 billion people.”
Finally, given the above, keep in mind that a case of this magnitude will lend itself to buyers at the case's conclusion at a level where $13 just does not quite cut it. The flood into will be significant.
As always, this in not financial advice. Far from it. My position currently has me on the ropes. It is not pleasant. It is familiar territory. It is not my first time feeling the ropes against my back.
I know that many of you have seen this projection before. These are my thoughts. I understand the push back. I wanted to give a shout out to @BCBacker. You should watch today's BCBacker video. While I don't necessarily agree with his BTC projection (I am bias as I got my crypto start in Oct 2013 mining BTC), I will say that the monthly BTC dominance chart is looking a bit rough. My 38+ years in technical and value trading lends me to say that his analysis today is spot on. He is a great technician. I enjoy his work.
One must consider a positive outcome of the Ripple SEC case puts the fundamental case for XRP inline with this - You Have Seen This Before - projection. I say this having spent many years working in fixed income derivatives and interest rate swaps markets - specifically trading and exchange settlement processes. With this in mind, one also needs to consider that a Virtual Currency - Exchange Token - Utility Token XRP status puts XRP in a very interesting position regarding the unbelievably huge derivatives market. (Congress will not get there in time). I say this also considering Ray Dalio's thoughts on our changing world. Do consider where we have been since 1971 and what we have seen in the past two years. Do consider the comments coming from the same group of folks who put the EURO in place. 1971 aside, think of all that has happened since Mikhail Gorbachev visited the pits of capitalism in Chicago in 1992.
With the above in mind, please remember that U.S. Assets - Bills is currently a negative 123 Trillion.
Also consider Mark Phillip's LinkedIn article in April 2019 where he points out, "XRP will be a world reserve currency (and it will be used to pay off debt). It will solve the debt crisis without devaluing fiat currencies. For example, the U.S. government (and other governments) could buy XRP at very low OTC rates, which wouldn’t drive prices up on the retail exchanges. Likewise, major financial institutions could also stock up on XRP at extremely attractive prices. When all systems, policies, and agreements are in place, they simply announce that XRP will serve as a reserve currency. This drives utility and demand, which rapidly increases the price of XRP. The governments could then settle their debts using XRP, which would not devalue their fiat, because they would not be printing any additional dollars or other fiat currencies.
This would explain why the U.S. administration, the IMF, and the World Bank have been so positive about Ripple Labs, xRapid, and XRP. It would also explain why the SEC and other federal agencies have not yet weighed in on XRP’s status as a security or other type of asset. It would also explain why the price of XRP has been very steady at a low price for more than 15 months, despite a constant stream of positive news about partnerships, production deals, and so forth."
Additionally, keep in mind the words of Arthur Britto, "XRP must be scalable to accommodate 7.5 billion people.”
Finally, given the above, keep in mind that a case of this magnitude will lend itself to buyers at the case's conclusion at a level where $13 just does not quite cut it. The flood into will be significant.
As always, this in not financial advice. Far from it. My position currently has me on the ropes. It is not pleasant. It is familiar territory. It is not my first time feeling the ropes against my back.