Why XRP Investors Are Watching the $1 20 Level Closely

[00:00:00]Hello everyone. As with you always, this is Rich doing another video today on XRP.

[00:00:09]So, I hope you're all having a wonderful day today, wherever you are in this great great world. We're going to talk about XRP. And once again, this is the one day chart. We're sitting here at A11.

[00:00:24]XRP is gradually inching back up. I'm not going to get excited until we're back above a$120 again because that will solidify that we're going to continue to go higher. But it is nice to see XRP finally starting to move up once again.

[00:00:44]And it's moving up with Bitcoin right now. Bitcoin on the one day chart, it's sitting above 65K once again.

[00:00:53]And right away everybody's like $70,000 by the end of this week and 80K going into the weekend. But we hear that every time Bitcoin moves up in the slightest.

[00:01:06]I think people are starting to get bullish once again. I think people could see the breakout now loading. And here's the fear and greed index. We are now at 37. We are almost back to neutral once again. I think once we get out of fear, people will feel more comfortable about jumping into crypto. But the one thing about crypto right now, it's still being talked about everywhere because of the Clarity Act. And that's the one thing that's still holding everything back.

[00:01:39]Once that gets passed, then all the institutional money shows up. Breaking.

[00:01:45]Mediators are working to push the US and Iran into a new ceasefire per Wall Street Journal. Details include mediators are worried the US and Iran could settle into a pattern where they keep conflict below the level of allout war but disrupt regional economies indefinitely. Two, traffic in the straight of Hermuz has now collapsed to just 10 ships per day. Three. Quitar has floated the idea of a 10-day ceasefire and an end to restrictions on shipping in the straight of her moose to cool tensions. And of course, Brent crude oil prices continue to trade around $90 per barrel.

[00:02:32]What they're really worried about is the impact on markets. As long as this drags out, they could continue to play the market. Bitcoin doesn't react as violently as it used to to what's going on with Iran. That's a good thing because we're no longer seeing those major dumps right now. But if there was an allout war, I think Bitcoin would de definitely come plummeting down.

[00:03:00]However, it's also keeping the market at a standstill because of all the uncertainty that's still out there. Peace brings certainty. Conflict brings uncertainty.

[00:03:14]And that's what's happening. Coinbase Vice Chair Ryan Vancrack said that whether you love or hate crypto, you should want the industry to be regulated. Take a listen to this. But the true measure of a bipartisan bill is not whether everyone gets what they want. It's whether ultimately Americans will be better protected compared to the status quo. And there's actually no meaningful debate in that space. This is going to create a for the first time a comprehensive federal framework and oversight over the crypto space. And Joe, I think it's important to remember it's not about no regulation. This is about imposing regulation on the industry for the first time. And so you have a unique opportunity for the trifecta win-winwin. American investors, American innovators, and American standards get to prevail if we get this bill passed. But the problem is we it's still held back by ethics. E ethics is the big hurdle right now. And this comes from Eleanor Tourett. Ethics cloud clarity's path to the Senate floor.

[00:04:20]Following last Thursday's meeting between President Trump and Republican senators, the White House has yet to agree on ethics parameters while industry still awaits updated bill tax.

[00:04:33]So, and the Democrats, they don't show up at all. Yet, they always seem to be saying the same thing that they're kept in the dark on what's going on with ethics. If Trump would have never touched crypto, I think we would already have clarity. The fact that he launched a coin, that's the biggest problem that and the amount of money they're making off of crypto. But I still believe that's going to get done at the very last minute. And here's why. Russia state Duma to hold final, second, and third readings tomorrow on digital currency and digital rights bill, establishing the country's first comprehensive legal framework for cryptocurrency.

[00:05:20]The legislation sets us asset eligibility at a 5 trillion ruble, 66.6 6 billion market cap threshold, plus 5 years of trading history for inclusion on regulated exchanges. So now that Russia is pushing full steam ahead with regulations, the US has to play catchup.

[00:05:46]And it's not just Russia, it's other countries as well. Vietnam will find crypto traders up to $1,900 for using unlicensed platforms under new rules taking effect September 1st.

[00:06:01]Remember I said if an exchange isn't regulated, if it's not doing anti-money laundering or know your customer, that exchange is going to get regulated out.

[00:06:14]And that's what's going on. We are on the verge of global crypto regulations cuz now every country is pushing full steam ahead trying to get the upper hand on the United States while we still drag our feet because they can't get anything done in Washington. And even Nigeria signs executive order establishing a unified framework for virtual assets and crypto regulation. The order creates a new cross- agency council chaired by Nigeria's central bank to coordinate oversight of digital assets, streamline supervision between regulators, and crack down on fraud and unregistered operators. This is Nigeria's most signi sign significant step yet towards formalizing Africa's largest crypto market and establishing a national road map aimed at attracting institutional investment.

[00:07:16]Every single country is doing this right now. And that's why I said they have to get this done in the United States. You honestly think they're going to continue to lag behind while Russia and China are pushing ahead? I don't think so. That's why I think it's going to come out of nowhere. All of a sudden, it's going to get passed behind closed doors and then the announcement will follow. Here's the problem. The market will already be breaking out ahead of that announcement.

[00:07:50]That's why I always tell people you got to get in before it happens. And even Black Rockck is warning now. Black Rockck warns that Asian countries will race ahead of the United States by introducing their own versions of the Clarity Act for digital assets. The message is clear. Lead or get left behind. And now that Black Rockck has spoken, most likely this will get done very soon. Because every time there's a crisis in the United States, who does Washington turn to? Black Rockck and Larry Frink. They did it in 2008, 2020, and they will do it again once the next crisis shows up. US regulators missed the Genius Acts July 18th deadline to finalize stable coin rules. Of course they missed the deadline because they can't get nothing done. Every time that they talk about something, that's all it is is talk. It's like, "Oh, well, we got to hear from this group. We got to hear from this group." How about you just do your job and help innovation push forward in the United States? Stop listening to the bankers. Stop listening to the crypto companies. Just get something done already. But no, they have to talk to everyone and their brother first. XRP ETF tracker 11.03 million in volume. Even on a day where there's very little movement on XRP, we still see volume with the ETFs. And that's because the institutions, they don't think like retail. Retail gets frustrated. They get shaken out. a red day shows up and everybody's panicking, everybody's pissed off. The institutions, they don't react that way.

[00:09:48]They look at that as an opportunity, an opportunity to get cheaper prices on XRP.

[00:09:56]But as you see all this volume happening with the ETFs, this eventually will skyrocket. You will see a hund00 million volume days. Those are still loading.

[00:10:09]That's what's really going to lead to scarcity for XRP.

[00:10:15]And Dark Defender says bullish RSI and wedge incoming breakout. Watch. So, right now, everybody's calling this the beginning of the breakout. They're saying that the bottom is in and it's up only from here. I think it's too early to say that, especially when you're looking at XRP sitting here at A11.

[00:10:41]I want to see continued upward movement on XRP before I tell you to lock in because 24 or 48 hours everything could change. We could come plummeting down because of some real world event. We could start moving upward because of some real world event. It's too soon to say this is the breakout we've been waiting for. We're literally up two cents from where we were yesterday.

[00:11:12][snorts] But all these chart guys are screaming the same thing. Expect a big finish to the month of July for XRP.

[00:11:21]I would love to see that happen because it feels like XRP is stuck right now.

[00:11:26]Even when you look at the oneweek chart, you could see how long we've been going sideways. And in between here, there's not a whole lot of price movement. It's a matter of 7. That's from here all the way down at A15 to A12 back here. I want to see us get back above A120 again.

[00:11:50]Then we could say this is the moment we've been waiting for. That coupled with some good news, maybe people are starting to FOMO into crypto. XRP starting to be talked about everywhere once again because I believe people will start to FOMO in the second we see above A120 again because we've been sitting so long under a$120.

[00:12:18]Everybody will start to get excited. But until it all happens, stay patient, stay positive, and let's get rich together.

[00:12:29]With that said, I'm going to wrap up this video. I want to thank you all for watching. I appreciate all of you. I'll see you in the next one. Have a great night.