XRP's Major Comeback?
Market Mondays
EYL Network
5 • 4K Ratings
🗓️ 22 November 2024
⏱️ 10 minutes
🧾️ Download transcript
Summary
Welcome back to another insightful episode of Market Mondays! In this week's edition, our hosts Ian Dunlap, Rashad Bilal, and Troy Millings dive deep into the recent buzz surrounding XRP and its potential resurgence. Could XRP really be eyeing a massive breakout after years of stagnation and legal battles?
Rashad kicks off the discussion by bringing up the intriguing news of Ripple's CEO engaging in discussions with former President Donald Trump. With whispers of a pro-crypto administration and possible favorable legal outcomes, XRP's price has seen a significant jump, nearly doubling in value. This sudden movement has reignited debates and speculations about XRP's future, with some enthusiasts claiming it could soar to $10 or even higher.
Ian emphasizes a crucial investment principle: patience. He reminds listeners that truly believing in an asset means holding onto it for at least five years. Despite the temporary setbacks, those who stood by XRP during its consolidation phase are now seeing the fruits of their perseverance. Ian cautions against the urge to constantly chase the next big thing, highlighting the importance of sticking to quality assets with solid fundamentals.
Rashad elaborates on the unique challenges XRP faces due to its substantial market cap and abundance of coins in circulation. Drawing a comparison to Bitcoin's limited supply, he explains why XRP's price dynamics differ dramatically from Bitcoin's. While it's tempting to equate the potential of a $1 XRP to a $90,000 Bitcoin, the reality of supply and demand economics shapes their distinct trajectories.
Troy echoes Rashad's insights by delving into the concept of circulating supply. Using precise figures, he contrasts the 21 million maximum supply of Bitcoin with XRP's staggering 100 billion. This fundamental difference offers clarity on why XRP's pricing won't mirror Bitcoin's, despite their shared cryptocurrency classification.
In a thought-provoking segment, Ian poses a question to the group: "What are the top four cryptocurrencies in their opinion?" Troy shares his admiration for Solana, influenced by the expertise of Mike Novogratz. Sometimes, listening to experienced voices in the field can provide invaluable guidance, as Troy explains.
The hosts also address the sentiments of long-time XRP investors. Troy recounts his early days in 2017 when XRP's price spiked momentarily, leading to hopes and dreams of substantial gains. But the subsequent legal battles and market fluctuations served as stark reminders of the volatile nature of cryptocurrencies.
Ian wraps up the discussion by reflecting on XRP's journey, noting how its legal entanglements have significantly impacted its perception in the market. The initial promise of a decentralized crypto world has met with various challenges, and XRP's story encapsulates many of these complexities.
Don't miss this engaging episode that not only sheds light on the recent XRP developments but also offers timeless investment wisdom. Whether you're a seasoned crypto enthusiast or just beginning your investment journey, there's something valuable here for everyone.
#XRP #Cryptocurrency #MarketMondays #Investing #Bitcoin #CryptoNews #Ripple #CryptoInvesting #Blockchain #Ethereum #Finance #InvestmentTips #CryptoMarket #BitcoinVsXRP #Solana #CryptoAssets
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Transcript
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| 0:00.0 | You made it through all the starts and stops of your tech business. |
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| 0:25.9 | Terms apply. Learn more at Americanexpress.com slash amex business. What about XRP, company that |
| 0:32.4 | I've been talking about for a while. It's been, you know, stagnant for a long time. But I'm favorable. |
| 0:41.0 | News came out, the CEO of Whippew, I believe had a conversation with Donald Trump. And |
| 0:47.0 | looks like, you know, they could have some favorable legal decisions in their future. They've |
| 0:52.4 | had ongoing lawsuits with the SEC for a while. |
| 0:55.3 | So, you know, anticipation that a pro-crypto administration. Yes. And a relationship with XRP, |
| 1:05.1 | specifically with the Trump administration, pushed it up over like 50 cents from where it was before now it's over one dollar yeah for the |
| 1:14.7 | first time in a long time so you know a lot of people now are back on the xRP train and saying like |
| 1:20.7 | it's going to go to ten dollars and this is it x XRP to the moon. |
| 1:29.2 | So what's the deal with XRP? |
| 1:35.4 | Well, it helps that the rumor floating around that Gensler may not be there too much longer. |
| 1:39.8 | So when that's your main combatant in the space, if he's not there, it would help. |
| 1:44.8 | I talked about Vitalik, but it's smart that they went to go talk to Trump, kiss the ring, get some favor. |
| 1:46.3 | But I think the biggest lesson I want to highlight here is if you believe in the asset, |
| 1:50.2 | you got to hold it for five years. |
| 1:53.4 | And while it was going through this consolidation phase, if people were loading up on it, |
... |
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