Ripple XRP: $50/XRP - Have XRP Glitches Been REAL Orders With Low Liquidity All Along?

Added: 2026-05-23

[00:00:03]Hey guys and welcome to the working money channel. This video includes paid promotion. So guys, I've got my friend Kevin Cage here posting this. If $60,000 holds as Bitcoin cycle low, this would be the shallowest bare market in history. Somebody was uh quoted saying this. I guess it was uh the Cointelegraph here saying uh you know if we are basically if this is the bottom, this would be the shallowest bottom that we've ever seen. Bitcoin is still holding above the 2021 cycle high of $69,000.

[00:00:34]Uh it did briefly break below 60,000 before reclaiming it. The 2022 bare market also broke the 2017 peak below $16,000 before reclaiming it. So we are currently now in interesting times.

[00:00:48]Maybe this is uh maybe this is the metric we should be looking at. not so much percentages, but uh you know how far uh how far down is Bitcoin going compared to the former all-time high.

[00:01:00]But of course, you guys know where you can follow what I'm going to be doing in more detail. patreon.com/workingmoney channel link is right there on the screen. So, if I were to throw a low here on the former all-time high for Bitcoin, you guys can see we did get below that. It was around $69,000 back in uh 2021.

[00:01:17]Um we have gotten down below that. Now taking a look at where the price did go back in and around here. Okay, price did go just under. So the 2022 bare market price did go just under the all-time high and then we reclaimed it. And uh as you guys can see here just under the former all-time high. We are reclaiming it now. Um you know I would venture to guess that this is that there's still more time in this market because the other thing we have on our side is time.

[00:01:48]We are only in May 2026. So May of the bear year generally speaking what we have seen in former years for uh for May we have seen the market decline even more you know from those highs in May we've seen the market decline uh you know in some cases another 50 plus 50%.

[00:02:06]So uh and that was 2022. Let me just go back to 2018 here. We got 2018 and uh you know at these highs we did see markets uh markets go down about another 40 40 or so percent before the real decline another 68% from those highs. So uh you know even if we were to see even if we were to see just another let's call it 20 30% guys that would actually bring us right back down into these levels. I'm prepared to jump in when the time is right but uh you know there are a few factors that need to occur before I uh before I can really pull the trigger. cost averaging down is uh the key to making money in this crypto cycle. Just going to interrupt this video for a second. Here's a word from one of today's video sponsors. Guys, just a quick update with regards to Foris X. I've been working with the team for the past 3 months and I'm genuinely impressed on how consistently they keep improving the platform. What stands out most is their focus on security and transparency. Their security ratings continue to rise. They've completed independent audits with Certic and Cybercope and they use Fireblocks for their institutional-grade custody infrastructure. For long-term XRP holders, this is one of the most interesting platforms I've tested. Since the XRP ledger doesn't offer native staking, Fortis X allows you to put your XRP to work through liquidity pools and earn daily rewards. There are no lockup periods and you can withdraw whenever you want. Thousands of users are already using the platform and the feedback has been very positive. If you've been holding XRP long-term, Fortis X is definitely worth checking out. Remember guys, investing is inherently risky.

[00:03:39]Always diversify your investments. This is not financial advice. But anyway, I wanted to thank uh Kevin Cage just for uh for posting that insight. We are in very interesting times for crypto. Uh you guys can see XRP just still kind of meandering right now. One XRP is trading for about a$1358.

[00:03:57]So, uh, just kind of trading in this boring pattern here. Trading sideways in this boring sideways channel.

[00:04:04]Sentiment's up a little bit. It is in neutral territory today. We've got some green on the charts. The market cap is up by about a half a percent. Uh, but again, we're just not seeing that exuberance. We're not seeing uh, you know, any kind of excitement to the downside, nor to the upside. Cryptos have surpassed 51 million in terms of uh, how many there are in the space.

[00:04:24]Guys, this is not going to last forever.

[00:04:26]cryptocurrencies, you know, we're we're in the midst of regulation. We're in the midst of regulation. So, you know, this kind of uh crypto wild west landscape is going to eventually disappear, I think, unfortunately because, you know, when we had, you know, more FOMO, more interest, we had more volatility. Cryptocurrencies went up 60,000%. That was the kind of landscape you can make a lot of money in as a trader. Right now, we're waiting for real world utility. Jake Sherman uh originally posted a tweet here, breaking news, the Senate will go home in June, leaving the reconciliation bill unfinished. So, he's talking about another kind of bill. What this means though, as translated by Eleanor Terret here, this means the Clarity Act, so this has an effect on the Clarity Act, will now be competing for floor time in June with reconciliation, uh, FISA or FISA, as well as the housing bill that passed the House this week.

[00:05:19]The reality of whether the Senate can get uh two major pieces of legislation done amid constraints and competing priorities is beginning to set in and the question of whether one will inevitably slip into July is now being asked. So you guys were wondering, you know, maybe or or you maybe you guys were super confident that we would get clarity right away. Well, guess again we may we may not. uh there are four weeks or sorry four four working weeks in June and uh just three in July before the August recess. So this is the reality of it. Unfortunately this is the reality of it and it is uh you know reality is setting in with regards to uh you know where prices are going to go. If we look at total market cap here, if we do not get clarity guys soon, if we, you know, if we see that it does get prolonged over the next few months, we could realistically see another draw down here, you know, 500 bill. I mean, this would be an ideal level, I think, for well, accumulation. I guess I should say this is the total three market cap. So, all cryptocurrencies excluding the two biggest, Bitcoin and Ethereum. Here's something else that I just wanted to point out courtesy of Bank XRP. Trump's media uh proposed the Truth Social crypto blue chip ETF which includes Bitcoin, Ethereum, XRP, Salana, and Crow has reportedly been withdrawn from the SEC process. So, Truth Social, this is Trump's company, has withdrawn its application to launch this particular ETF. Trump Media and Technology Group has withdrawn the registration of the US Security and Exchange Commission for Truth Social Bitcoin Ethereum ETFs, effectively cancelling their launch. So, Trump Media and Technology Group runs the Truth Social platform. It's an alternative to X. Uh both ventures are backed by US President Donald Trump.

[00:06:59]Trump and his family members are involved in several cryptocurrency ventures and were aiming to bring Bitcoin and Ethereum ETFs under the truth social umbrella. But guys, now that has been withdrawn. So wondering why uh that has uh that decision was made. Obviously, there were uh reasons for that. Santiment here posting this with regards to XRP wallets. Guys, we are seeing a surge even though it's not the largest surge we've seen in a while.

[00:07:22]It does keep growing. May the 20th. Uh the so these numbers were reported as of May the 20th. 4,300 new XRP wallets were created. You guys can see uh a bit of an uptick there. A far cry from what we saw back in March uh March 19th. 12,55 new XRP wallets created. That's the purple you guys can see in there. Um so we are seeing still some mild interest for XRP uh in terms of I mean as far as investors go, right? Um, you know, again, I think we're going to see new wallets minted if we do see another draw down for XRP. If we go below these levels here, I think we're going to see a lot of investor interest come in here.

[00:08:01]Whether it's here or maybe down a little further, I'm not entirely sure. Uh, of course, you guys can always follow what I'm doing in real time at the Patreon.

[00:08:08]Here's a Van report, guys. This courtesy of Wrath of Conum and the rise of corporate chains. They categorize the XRP ledger as a hybrid project, okay, with uh with permissioned apps on a public chain. But look at the fees. The XRP ledger is ratioing other chains. So we've got the Canton network here.

[00:08:25]That's 300 billion in repo moved, 800 million in fees. Uh where does it say that? 800. Yeah. So the annual uh current value capture, 800 million in chain fees, token burns, etc. Whereas look at the XRP ledger in comparison, guys. only $365,000 in fees. So you compare that to Bass or to Providence or Canton. All of these guys are in the millions. XRP ledger in the hundreds of thousands in fees. So and it lays out where the fees acrew. So you can also uh look at that data here.

[00:08:58]Very interesting to say the least. I mean uh you know companies are going to realize very fast that uh you know it's an efficient chain. fees are low, which means they can up their margins if they decide to uh I mean charge whatever the market rate is for uh for a lot of these fees. So great value proposition here, great information courtesy of the Wrath of Conoran. I also happen to see this with regards to two Ripple partners guys. We've got Thun. They're highlighting another Ripple partner, Teos, and their collaboration to support scalable global payouts. So this is a recent LinkedIn post from Thun. They're a company and they're positioning a collaboration with another Ripple partner, Teos, and they're on their way to support real-time scalable global payout capabilities for financial institutions. The post highlights a focus on reducing complexity, accelerating deployment, and enabling money movement at scale by combining te uh teos's modular core banking platform with Thun's high-speed payment infrastructure. So, big news here, guys.

[00:09:50]The post suggests that the joint approach is intended to help institutions manage both crossber and domestic payouts more effectively with an emphasis on transparency and lower operational burden. The companies are already looking ahead if this collaboration gains traction among banks and payment providers. Thun could benefit from a higher recurring revenues tied to increased payment flows and value added services at the industry level uh level. Tighter integration between core banking systems and specialist crossber networks may reinforce the trend towards embedded modular payment infrastructure potentially improving thons's competitive standing against uh other global payment providers. So here we have Teos aiding Thun in this uh particular situation but they're both running on the XRP ledger. Well Teos does integrate backend technology for some of the major banks but we already know th is a payment partner of Ripples guys. We also have this JD and Seflex launch pay as you sell advance in Thailand bringing uh embedded finance to Thaimemes. So this partnership introduces Thailand's first revenue linked merchant financing solution.

[00:10:52]Interesting. Built on Doney's regulated financial infrastructure. Now guys, for those of you who do not know, do not remember, Doney is a Thai fintech and money transfer payment provider with enterprise blockchain company Ripple.

[00:11:03]They do have a connection there. DMoney uses Ripple's global payment network Ripplet to process and settle inbound crossber remittances into Thailand quickly and at a lower cost. Well, now they've launched their pay as you sell advance in Thailand. The project uh brings dynamic revenue linked merchant financing to Thaimemes for the first time offering capital that adjusts to real sales performance rather than fixed monthly repayment schedules. Uh JD is a corporate venture of DMoney, Thailand's leading crossber fintech and operates under the bank of Thailand regulatory standards. Seedflex brings its proprietary pay as you sell advanced technology stack to the partnership.

[00:11:38]This technology has already been successfully implemented in the Malaysian and Indonesian markets through collaborations with banks and payment service providers such as Pinelabs Boost, Alo Bank, and BSM. So uh boom, there you go. Another connection uh enabling Ripplet technology. They're doing this through Doney Pay as you sell advance in Thailand. Great news there.

[00:11:59]And we also have Fry World, Free World.

[00:12:01]Uh we are entering a new global era of payments. Guys, take a look at this. Uh David Schwarz was uh recently at XRPPL Cancun. I think it was from the groundbreaking technology created by Fry to its very first directed XRPL test transaction completed by David Schwarz himself. And now with XRPL Cancun.com officially going live, the evolution of blockchain powered payments is poised to accelerate. So they're thanking David Schwarz sincerely for his guidance, support, and innovation over the years.

[00:12:27]The XRP ledger community recognizes the impact of your contributions and without visionaries like you, progress at scale would not be possible. So there you have uh David Schwarz uh I guess doing the first transaction through Fry. Great news there. We're seeing uh you know more infrastructure for payments.

[00:12:43]Payments are just uh well they're becoming more streamlined and you know enter stable coins into the mix. That's going to change so much. Um at first when I saw this next tweet I wasn't entirely sure if it was true or not.

[00:12:55]courtesy of Zero Hedgeh originally tweeting out the IMF unveils a new global currency known as the universal monetary unit. Now um this tweet was actually from 2023 but it's interesting uh sir trades a lot here commenting if this is true then Ripple will acquire DTCC to become the universal ledger. Now first I have to look into this. This was uh actually released back in 2023. If you guys uh look at this, this is just a quick Google search here and it was referencing some uh some 2023 documentation. Uh the UMU or the universal money unit is an international central bank digital currency or a CBDC created by the digital currency monetary authority. Okay. It's designed to uh function as a legally recognized money commodity and a low volatility cryptocurrency allowing banks to conduct crossber swiftlike payments without relying on traditional correspondent banking systems. So, I'm curious if this uh was actually launched. The other thing that sir trades a lot was uh was commenting on was this. Okay, this was a tweet from Yoshi Takatau from back in 2018. Ripple XRP can emerge as a universal standard currency, says the chairman of SBI Holdings, Yoshi Takatau.

[00:14:03]I mean, uh, we all remember, I think, that, uh, that clip of Brad Garlinghouse suggesting that XRP will be the world reserve currency or could act as a world reserve currency from, um, believe it was from a conference in, uh, in South Korea from many years ago now, almost, uh, seven or eight years ago, I'd want to say. But guys, this is getting closer and closer to reality every single day.

[00:14:22]So, the original tweet that sir trades a lot was retweeting out was this one from Chad Steingraber. The other part of DTCC readiness speech. Okay, there's a lot to unpack here. one, each participant will operate in their own capacity. DTCC will act as a central interoperable bridge.

[00:14:38]And two, the industry will adopt digital assets as the new infrastructure. Now, the question becomes, um, okay, he's suggesting Ripple could acquire DTCC. If you guys don't know, DTCC or the Depository Trust and Clearing Corporation is privately owned. Uh, it's an industry governed utility rather than a publicly traded company. So, it's not uh doesn't uh it's not trading on the the NASDAQ or anything. Consequently, it does not have a traditional corporate market capitalization. Now, um we don't know how much it's actually worth.

[00:15:07]There's no uh actual information to suggest how much it's it's worth. I mean, I guess we can estimate. Uh assets under custody though through its subsidiary, the DTCC holds about 100 trillion in securities under custody.

[00:15:20]Doesn't really give us an estimation, but you know, if we if we if I mean, we're estimating Ripple is worth about $50 billion. How much is DTCC worth? Is it more? Would it be realistic for Ripple to acquire the DTCC? Think about all the XRP Ripple has stored. And uh I mean, if XRP does in fact go to a very high price, well, that would send Ripple's valuation to the moon, guys. Um Charu Son XRP here commenting on uh the famous glitch that we saw, the $50 glitch, guys. And it was uh on this exchange, I don't know if you guys remember, it's back in 2023, I think it was. Yeah, 2023. You can see at a point, you know, I I I'm sure I did a video on this. I'll see if I can find one. I'll link it up here if I can. Um, this was a glitch on the exchange. We're wondering at that time, is it a glitch or was there, you know, like is there something else going on behind the scenes here? Of course, if it happens in real life and uh, you know, you have a sell order up here, then, you know, maybe you could get cashed out at $50. I don't know who has sell orders and I know some of these exchanges limit where you can set your sell orders, but Charusan brings something interesting to the table.

[00:16:30]Let's break down the truth behind the famous $50 candle on Gemini in August of 2023. He claims it wasn't a glitch. It was 100% real market event and the perfect example of catastrophic slippage when XRP was relisted there. The order books had razor thin liquidity. So remember, we got a verdict in 2023. Was it 23 or 24? Uh that that wouldn't make sense if it was 2024, but uh no, it was 2023 because this is when Coinbase relisted, too. Yeah, I'm sorry. So, July 2023 is when we got the uh the the Ripple lawsuit verdict. And he's saying it's it had to do with the relisting. When XRP was relisted, the order books had razor thin liquidity, which makes perfect sense. A market buy order instantly devoured all available sell orders, sweeping the book until it executed a rogue sell order sitting at exactly $50. it took only about $37,000 in volume to launch the price to $50 per coin. He goes on to say this is absolute mathematical proof as to why tier one banks cannot just rely on on demand sourcing during peak volume. So again why the ecosystem has to be liquid, why XRP has to be super liquid because we cannot have these types of volatile glitches. These types of things would undermine uh you know a robust financial system if XRP is to be used in this uh real institutional capacity. uh they must hold XRP in their isolated liquidity pools of a mere $37,000 can cause this cat uh catastrophic slippage on a thin order book. A multi-billion dollar institutional crossber transfer would completely freeze the system if the required liquidity isn't already deeply pulled and locked in by the banks themselves. To prevent this exact scenario, financial giants cannot just plug into ODL as passive users. They require preunded locked capital and uh dedicated XRP liquidity pools under their own management. The Gemini candle proved that without deep liquidity, bank held uh bank held liquidity pools managing global institutional volume is mathematically impossible. You can carry out massive transfers as low uh as with low price tags like 20 to $30. It would trigger catastrophic slippages leaving you completely unable to control both the market and the transactions. So by now you should understand what a massive issue slippage is and why deep liquidity is mandatory to control it. Otherwise, you get these types of glitches here, guys. So, it makes sense, you know, relisting XRP back in mid2023 after we got the lawsuit verdict. Uh maybe this is why we saw some of these uh some of these glitches, so to speak, even though according to Jarusan, he's uh he's saying they were not glitches. Boy, I certainly wish I had a sell order in at $50 at that time. Unfortunately, or maybe fortunately for us, we are in buying mode, guys. Follow me patreon.com/workingmoney channel if you want to see where I'm interested in buying next. Also just going to mention real quickly that uh if you guys have not signed up for it yet, check out the EtherFi cash card. You can use your stablecoin, your USDC, and boom, you can spend it like that. Sign up is super easy. I got an affiliate link there on the screen and I do believe we both get a kickback if you do sign up. Start paying with stablecoin right away with Etherfi. Check it out, guys. 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 you in the next one, guys.