The importance of the government’s blessing for supposedly regulator-friendly cryptocurrencies like Ripple (XRP) and its horde of social media shills cannot be overstated.
Donald Trump is not a fan of crypto.
That’s all there is to that.
Donald Trump Alienates the Techno-Right
A rift between the crypto community and the alt-right community who elevated Trump is brewing if nothing else.
More than that, Democrats have a shot at swaying cryptocurrency backers who would otherwise prefer conservative policy.
For example, many cryptocurrency early adopters skew libertarian. They would prefer a conservative at the helm of the nation. But our pocketbooks come first.
Let’s not lie. This is America – we vote for our wallets.
That being the case, Ripple supporters would do better to find candidates who want to help XRP.
Instead, they spent the past day on Twitter shilling than harder ever. Some even shilled the at the president directly, as though he understands the nuances between the various flavors of blockchain technology.
Ripple’s proponents frequently defend its qualifications as a cryptocurrency, despite allegations of centralization.
It does, after all, use a blockchain (of sorts).
More centralized blockchains than Ripple have emerged and seen user adoption. Decentralization is not the only metric to judge a crypto product by.
For those who’ve used it, Ripple is speedy. Its larger goal as a bank settlement layer may be years off, but in the present, it might not be a bad idea for the cryptocurrency’s army of shills to consider what they’re saying.
Donald Trump doesn’t like cryptocurrencies. Deal with it.
You can’t expect a man to be all things to all people.
He’s got his own masters to please first.
Remember, a blockchain world puts people like Trump on an even playing field in many ways for the first time.
Therefore, they don’t have an immediate incentive to support if it seems they could feasibly get rid of it.
But let’s be real: cryptocurrency isn’t going anywhere. It’s simply not.
Anyone who hopes it might should forget about it.
Sorry Ripple Shill, But the Government Doesn’t Care
Both semi-centralized and fully decentralized blockchains have a place in the future. New middlemen will replace old ones, but the end result will be a greater variety of choice for everyone.
Donald Trump’s entire generation can stand against cryptocurrency if they like. It won’t do anything to slow down the development, spread, and adoption of the technology.
But government policy isn’t something to pin your hopes to, either, Ripple shill.
So pipe down and realize you’ve got more in common with a Bitcoin proponent than not now that the leader of the free world thinks you’re probably some kind of criminal.
Ripple (XRP/USD) forecast and analysis on July 19, 2019
Cryptocurrency Ripple (XRP/USD) is trading at 0.3131. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Ripple. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.
Ripple (XRP/USD) forecast and analysis on July 19, 2019
As part of the Ripple course forecast, a test level of 0.3260 is expected. Where should we expect an attempt to continue the fall of XRP/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 0.2430. The conservative area for Ripple sales is located near the upper border of the Bollinger Bands indicator at 0.3310.
Cancellation of the option to continue the decline in the Ripple rate will be a breakdown of the upper border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of quotations of the pair above the 0.3520 area. This will indicate a change in the current trend in favor of the bullish for XRP/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.
Ripple (XRP/USD) forecast and analysis on July 19, 2019 implies a test level of 0.3260. Further, it is expected to continue falling to the area below the level of 0.2430. The conservative area for selling Ripple is located area of 0.3310. Canceling the option of falling cryptocurrency will be a breakdown of the level of 0.3520. In this case, we should expect continued growth.
Garlinghouse Highlights Key Difference Between Ripple’s Tactics and Facebook’s Approach to Digital Assets
Ripple CEO Brad Garlinghouse joined CNBC’s Squawk Box to talk about Facebook’s digital asset Libra.
Garlinghouse says the massive amount of attention it has garnered is a net positive for the future of finance — despite the strong rhetoric and widespread condemnation of Facebook.
“I think on the most macro level, it’s been good for the world because it’s brought a lot of attention on a set of technologies that really can’t benefit mainstream banking, mainstream consumer experiences around banking. I think there’s a little bit of, perhaps, arrogance – maybe Silicon Valley arrogance – with how Facebook approached this, and just somewhat brazenly running into some things without checking some of the boxes.”
Garlinghouse says he agrees with Treasury Secretary Steven Mnuchin, who has issued a warning about new digital assets like Libra and the dangers of unregulated currencies.
“In order for these technologies to be used well and to be taken advantage of, it has to be done in a regulatory, compliant way. We can’t expose more risk – whether it’s terrorism financing, whether it’s money laundering. These are things that, from its core, Ripple has really been focused on making sure we’re partnering with the existing system.”
When asked why he suggests that Silicon Valley arrogance is at play, Garlinghouse responds,
“I think the conversation with regulators for Facebook started some time ago, and I think they had heard loud and clear some of these reservations, and I don’t think they took the time to address some of them.”
Garlinghouse points out that Facebook’s Libra Association, a consortium of companies that will oversee the new project, has zero banks. By failing to ask legacy players to collaborate, Facebook effectively crashed the party.
“There is a huge opportunity to change the way the world financial systems work that is very beneficial to consumers, businesses, etc. But again, it’s not competing with the banks…
David Marcus came out when he announced Libra and said, ‘This spells the end of Western Union.’ That was a huge call-to-action to the banks around the world that had been watching big tech players that they’re fearful are going to come into this space.”
Is XRP’s Future Bullish? Half A Billion Made From Dumped Tokens
Whereas the spotlight has been on Facebook’s Libra coin over the past month or so, Ripple Labs has unexpectedly earnt quite a bit, right in the middle of the ruthless bear market that had a huge impact on the crypto space last year. According to one report, the Ripple Labs successfully pocketed more than $700 million, proceeds from dumping their XRP tokens to the investors of the San-Fransico based startup.
At the start of the year, the Ripple started mining 100 billion XRP tokens as the available supply. All of these tokens were created before it was officially launched and only 20 percent of the time was it available to the public.
According to ZyCrypto, “the remaining 80% was held by the firm, its co-founders and other affiliated entities. Since then, these tokens have been dumped to investors, from time to time. Mostly, the coins are sold when Ripple needs to finance other ventures or when an affiliated firm or partner is moving on from the firm.”
For about five years now, Ripple has been dumping almost 2.5 billion tokens of XRP on a yearly basis without fail. That being said, in 2018, whereas the dumping still occurred, there was a slight change.
Most of the market had lost a lot of its value by the end of last year but Ripple’s XRP dumping helped it profit by more than $530 million.
Where do we go from here?
An altcoins future is never certain and it is still quite tricky with most investors as they are still keeping their wide eyes locked onto the performance of altcoins as time goes on. One trader, who goes under the Twitter handle @Rektcapital, took to the social network recently to say that there might actually be something for investors to look forward to in the near future:
“For the first time since December 2017, Ripple has recently rebounded from a long-standing uptrend line.”
However, according to another popular trader Peter Brandt, things might not be as bullish as they seem:
“While the parabola in BTC was subject to different renderings, the parabola in the total market cap chart was loud and clear. Total cap should correct 80%. Most of the damage of decline will occur to altcoins.”