In this video, the speaker discusses various topics related to the cryptocurrency XRP. They mention Judd McCaleb, former CTO of XRP, who has been selling off his holdings of the cryptocurrency. The speaker believes that this selling pressure may have been beneficial for the price in the long run as it redistributed wealth. They also discuss the lack of regulatory clarity for XRP in the United States and how it is holding back innovation. The speaker suggests that Ripple, the company behind XRP, may face a fine but questions why they are being singled out compared to other cryptocurrencies. They also mention upcoming dates related to the SEC lawsuit against Ripple and highlight the importance of monitoring XRP’s price movements.
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Introduction: The Million Dollar Question
Hey guys, what is up? It’s Dusty here, and welcome back to another crypto video. Today, I have a question for you. If I were to give you a million dollars right now, what would be the first thing you’d do or buy? Let me know in the comments section down below.
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Jed McCaleb’s XRP Holdings
Now, let’s start off with a really important subject. It is Jed McCaleb’s XRP holdings. However, the title reads, “Here’s How Much XRP Former CTO Has Left After Another Dumping Spree.” I’m gonna tell you guys completely honestly, I do not think how much XRP he has is really relevant. You guys know how my updates are, right? I’ll tell you exactly what I think is going to happen, exactly what I think is going to do to the price.
In this case, Jed McCaleb having a lot of XRP. Jim McClellan, by the way, for those who do not know, is the co-founder and co-creator of XRP/ripple. He had a ton of XRP gifted to him at the start, and then since he founded Stellar, he basically wanted to dump all his XRP logically. What that kind of resulted in is there was constant selling pressure.
Now, was this bad for the price? I’m gonna say no, it didn’t really matter. Then again, will it be good once he’s done selling? I would say yes, because we basically had a huge transfer of wealth from one big whale who is bearish to just a lot of bullish little kids, so to speak. That’s definitely nice to hear.
Will it really cause a surge instantly? I don’t think so, unless maybe the moment that he’s sold out completely. Maybe that moment will have a little surge just in a couple of minutes or a couple of hours. That could be happening. And when is that gonna be? Most likely somewhere around July. We’re gonna have to watch it because it changes depending on the volume of XRP, the amount of XRP coins that he can sell.
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Ripple’s CEO on Regulatory Clarity
Bank XRP posted Ripple CEO Brad Garlinghouse’s statement: “The United States is the only country on the planet that has viewed XRP as a security. It’s so important for the industry to have clarity. Innovation in the USA is, in some way, on trial.” We saw this post a little bit earlier, right? And we covered it. However, it’s the second part that is interesting.
Ripple’s Chris Larson: “10 years in, we still don’t have the regulatory clarity, and that’s holding back the U.S.” Why has XRP been singled out? Two parts, right? One is, yes, the USA right now is kind of halting themselves because they don’t have a proper regulatory framework. That’s definitely quite a chore, quite a difficult thing for them.
Well, if they had it, they would have so many new companies popping up and just so many more companies operating properly, following the guidelines of the FCC or whatever body would make up those rules. But since they don’t have clear rules, nor can you really ask for guidance because they keep telling you, “We don’t know either,” well, then you’re kind of diminished. How can you call it? Like they’re just not being able to function properly. At least, that is my opinion.
The bottom part here talks about Chris Larson, mostly referring to the fact that XRP has been singled out within this lawsuit. It’s debatable because you’ve had a couple of crypto losses which are interesting. But if you compare it to, for example, Ethereum or Bitcoin, well, those didn’t get a lawsuit. And why not? Why didn’t those two get it? That’s definitely a question you can ask yourself.
Because if you start to think about it, EOS, Tezos, Kin, and whatever, all the other ones who got some lawsuits with the SEC, well, they were definitely different in essence. And the problem was always regarding a sale, which we discussed before. Now, if you talk about EOS and talk about Ethereum, they have more in comparison to each other than XRP has.
So in the end, I think regardless of what’s gonna happen, the worst case is gonna be Ripple paying a fine. But in the middle, the question is, why did they get sued? Why did they specifically get sued? Why didn’t they get the same treatment that Ethereum did or some easy type of lawsuit like EOS did? Because, well, they’re being sued right now, but also the founders, right? For the scienter part. Why, why, why, why? There’s so many freaking questions.
And a second part is him basically talking about climate and how XRP will kind of survive all of that, or at least that’s what the SEC is going to go after. But we’ll talk about that in another video coming up later today. By the way, I had some crazy nice dinner today. It’s been a good day for me, man. How are you guys feeling? How are you guys feeling? I’m feeling good.
Brad Garlinghouse’s Confidence in SEC Lawsuit
Moving on, Ripple’s Brad Garlinghouse feels confident in SEC lawsuit. Larson says XRP is being singled out once more. It’s specifically what’s been happening right now. XRP has been singled out. They’re calling Ripple crazy for asking more things of the SEC, some more insights and whatnot. It’s also perplexing why all these countries are allowing it, and the U.S. is like, no, we don’t want it. Why, why, why? I just cannot get it.
If every country were to be against XRP for all the same reasons, I would get it a little bit more. But the United freaking States, the free freaking… That’s supposed to be the most, you know, free-ish country in the world, where you can just do anything, right? Specifically in businesses, like it should be really open, specifically to world-changing technology. But it seems like they have a big problem with it, and I don’t really get why.
Ripple’s Future and XRP Price
Now, let’s get into the second part. Two main reasons why XRP will continue to chart this price trajectory. The only thing I have to say is, man, make sure you watch XRP closely for the next week or so. Bitcoin, of course, is going to determine right now where it’s going to be heading. But XRP literally broke out, and we have two important dates today. Literally for the lawsuit, and usually the day after such a date, the price goes up. Keep that in mind.
And we have the 30th, which the same thing applies. Both of these are bullish dates for Ripple, not the SEC. So most likely, the price will react positively to it. But hey, just putting a heads up here, and let’s watch it unfold, right? Of course, it can always go down. None of this is financial advice, nor is it certainty.
Here they’re saying XRP excelling globally again as the US plays hardball, and personality matters basically the backend of it all alongside a large community that supports the project…
