Bitcoin is breaking out and XRP is doing even better, potentially due to a looming update that many in the XRP community have been anticipating. However, although the XRP price is doing well, it may not be justifiable. The banking sector is experiencing a crisis, with mid-sized banks requesting the FDIC ensure all deposits for two years. Banks are also seeking nationalization, causing fear of bank runs. As long as this crisis continues, crypto prices are expected to go up. Credit Suisse and UBS are involved in talks with potential acquisitions and nationalization, leading to increased fears and instability.
Bitcoin Breaks Out Again
Bitcoin is breaking out right now as we speak and at the same time, XRP is doing even better, likely because of some crazy update or piece of news that a lot of people have been waiting for. There’s something happening tomorrow that the entire XRP community has awaited for a long while. Even though it’s not clear whether it’s bullish for XRP, that could be why XRP is outperforming Bitcoin right now.
The Banking World Goes Insane
In this video, we also cover what’s going on in the banking world as things are about to get dangerous. The situation with UBS is shocking, and when we tell you that things are about to get dangerous, we’re not kidding. As the mid-sized banks are requesting the FDIC to ensure all deposits for two years, some wonder if two to three hundred banks will go under if they don’t receive some FDIC guarantee. However, this crisis has nothing to do with crypto.
XRP is up 5.10 while Bitcoin is only up 2.5%. The major reason for that happening right now, as we speak, is that Swift has accepted community requests to start ISO 2022 migration in March which is happening in a few hours from now. This is in our own opinion why a lot of people right now are going crazy on the XRP buying side, but it’s not completely sure it’s justifiable because even with this launch, we’re not sure exactly which part of it would pump XRP all of a sudden except for the fact that it’s compatible.