Ripple (XRPUSD)

[ap17]

Got this email today.

If you purchased the digital asset XRP,
a class action lawsuit may affect your rights
A United States Federal Court authorized this Notice. This is not a solicitation from a lawyer.
A lawsuit is pending in the United States District Court for the Northern District of California (the “Court”) against Ripple Labs, Inc.; Ripple’s subsidiary XRP II, LLC; and Bradley Garlinghouse, Ripple’s CEO (collectively, “Defendants”). The lawsuit is known as In re Ripple Labs Inc. Litigation, No. 18-cv-06753-PJH. The Court decided this lawsuit should be a class action on behalf of a “class,” or group of people, that could include you. This Notice summarizes your rights and options before an upcoming trial in October 2024...........

[Alpha611]

Man thats fantastic. No need to ever let em go now. Best of luck!

[ap17]

NICE, had that big 4 myself way back, still own 3 of them.

[Alpha611]

Did! Started back summer 2019 first trying coins out with Link.
Bulk of my investment went in to XRP for personal reasons. Once I understood some of it.
Started playing the big 4. BTC,ETH,LINK & XRP !
Made over 650K with XRP not knowing what the hell I was doing. Thats when I started jumping in with the others.
After some time figured X was good to me So I started again with em and others .
Jumped back in with X 2 years ago but with no movement took a small lost and went back with the NASDAQ.
Figure enough time passed again so jump back in 2-3 weeks ago trying my luck with 5k shrs. Just have that feeling again. lol If she starts moving again. Ill start adding again. lol

[ap17]

Nice try princess, but you sure didn't buy at .04. You missed this train and you're panties have been in a bunch ever since! Calling shorts at .48 etc.....
Not happening, as they pass you around for thrills. OUCH!

[ap17]

I thought you sold out way back.

[Brokemillwright]

Ha! That's the funniest thing I'll read all week! "Durrrr, I went all in ay .24 cents. Just waiting til the day I wake up and I'm da bank" lol!!!! How about the people who bought at .04 and lower? Keep dreaming little princess, your rent money will NEVER make you enough to be your own bank, unless your one that lives off food stamps and don't need much.

[trunkmonk]

i never said anything should be pegged to gold. and of course scalability is just another word for printing more. what i believe, and have heard, the only currencies that will have any leverage in the near future will be tied to gold, not pegged to it. almost every crypto lover since its inception tries to make BTC or their coins look like gold but always steer away from saying the words. its actually humorous, but in fact gold and silver is the only real money the world has ever had. ill call the flock of believers in crypto Lemmings, cause they just go with it and have absolutely no understanding of the world of finance other than as a way for transactions occur. even talking world bank without IMF is just 101 level stuff. im not talking pegged or backed, im talking tied to real money to make it legitimate form of anything. the next system has to be based on trust and intrinsic value, only gold can do that, the rest is just marketing and opinion.
people went with the inferior DOS system or even Apple back in the day, they either wanted to play with it or didnt want to do anything which was DOS and Apple, in actuality IBM OS and Office suite, or Lotus, was far superior in everyway. that cant happen in finance, it will be based on satisfying how world finance currently works with Trust at its core. BRICS is going to do it as long as US doesnt destroy all those Nations with war and threats, or Fed coin will deliver when its ready.
there are 7 billion ag/oz in the world, its no different then the limited scalability of BTC or other block chains, there will be more found or created to its capacity, but the value of each unit will change. when someone says gold is not scalable then i see bias, or greed. money managers make their money off of loose fiscal policy, gold standard is no more because of that reality. The ultimate crypto solution will have gold tied to it, and the one who can find a way for transaction of physical gold on demand will be accepted by every country. IMO

PS i thought it was Oracle and IBM...

I just had a thought, every person bord could be allotted an oz of gold, Novel thinking to put all on equal leverage from birth, the rest can be mined for those who want more to keep or sell.

[TheFinalCD]

poor ben, he is swirling the bowl

[WiseYoda]

Ive heard many say XRP will be backed by gold but that doesn’t make any sense to me because XRP is a bridge asset. It looses all its scalability, speed, decentralization if it got pegged. It defeats the entire purpose of the goal in having all value run on the XRPL.

Having stable coins though pegged to gold collateralized by XRP on the XRPL aligns with the overall goal. Its like XRP would act as a large reserves vault for everything running across the XRPL.

Commodity backed stable coins by gold is unfolding—the bill for it has not been voted on yet (see link below). The financial war of having all value run on its blockchain is real and brings the battle between ETH and XRPL to mind.

Thats what the lawsuit against Ripple is really about as they are a threat to JPM who is behind ETH. In comparison to efficiency, speed, cost, cross offers, conversions and pairing for the best rate ETH loses against the XRPL.

PS: Many like to bring up XLM with XRP as well because of their history together and because they are fork of the XRPL and are connected to IBM.

Stable coins offer instantaneous processing as well as stability in pairing against fiat currencies and the only two digital currencies that fall into that category is XRP and XLM.

Nobody knows how this story ends or who will be the king of the hill but if a gold backed stable coin gets implemented onto the XRPL its going to be the start of a major transfer of value onto the XRPL.

LINK:

When Gold Backed Stable Coin? “Commodity Backed Stablecoins”

“Its Stable Because The Value Of It Represents One Ounce Of Gold” -Warren Davidson Speaking On A Possible amendment to HR 4766 “Stablecoin Act Of 2023” #XRP #RippleXRP
(Circa 2023) pic.twitter.com/cRZs8Xo3DR

— 𝙈𝙚𝙩𝙖𝙈𝙖𝙣 𝙓 ™ (@MetaMan_X) November 20, 2023

[Alpha611]

DAM!
Guess I don't belong here. Im waaay out of some of your people league.
Guess I still have way to much more to learn with these conversations.
BUT ! All said and done, Just hoping im on the right train. Good look every one.
PS...Wondering if anyone is familiar with a company name JOBY and thoughts on them if any.
They look promising with ERP do out this week. Thanks

[trunkmonk]

ok i see merit with some of the scenarios or logic.

[Dogger05]

CBDC would get converted just like xrp gets converted. I was using the big short example not to say scenario 2 appears to be a default credit swap, just that the scenario appeared to be some crazy type of synthetic asset that is a far out of this world to understand. As far as xrp being used to launch CBDC, now your finally on to something…I guarantee that will happen, your other 2 scenarios will not. IMHO…..

[WiseYoda]

Both scenarios make sense, and no, its not like credit default swaps or any other derivatives. No debt system here—only the Internet of Value system.

I lean towards the second scenario I mentioned because its a two tier system and it makes perfect sense for XRP to back an asset (gold) backed stable coin on the XRPL as collateral.

Funny how you say you don’t understand but still speak in an absolute that XRP will “never” be a stable coin even after I shared what CTO Schwartz said and what the Capco document stated so yes XRP could very well back a gold backed stable coin on the XRPL.

What does this mean? It means in this scenario XRP would be classified as a stable coin, “but in a different way”, because it would be “backing” a gold backed stable coin on the XRPL.

This is a plausible scenario as Ripple already launched a platform on the XRPL for stable coins just last year. The writing is on the wall and we may very soon see a gold backed stable coin on the XRPL.

You said if you have CBDC’s you don’t need XRP for cross border payments because you just send the CBDC and it will just get converted to local currency? How will it get converted? Ill wait…

What technology do you think the order books use for cross conversions, pairings and offers for CBDC’s? CBDC’s just don’t convert and pair currencies like how XRP does. This is disruptive technology and the utility of this technology is what’s used to make it happen. Whose utility though? Thats the question….

Why would Ripple launch a CBDC platform for the development of CBDCs if their technology isn’t needed for CBDC’s?

LINKS:

Ripple Launches CBDC Platform for the Development of CBDCs and Stablecoins: https://www.businesswire.com/news/home/20230518005115/en/Ripple-Launches-CBDC-Platform-for-the-Development-of-CBDCs-and-Stablecoins

Ripple reveals 8 countries building CBDCs on XRP Ledger: https://finbold.com/ripple-reveals-8-countries-building-cbdcs-on-xrp-ledger/

CBDC Platform - Comprehensive, Stable, and Secure: https://ripple.com/solutions/central-bank-digital-currency/

[Dogger05]

Look man I’m not bright enough to understand scenario 2. It sounds like a synthetic debt instrument, just like the ones that were undertaken in “The big short” (you know this asset is securitized and it becomes that asset, and then that asset is securitized again and becomes another asset, and so on and so on and so on) I can tell you though that Scenario 1 makes zero sense because if you have a CBDC you don’t need xrp for cross border payments, you just send the CBDC and it either gets converted to local currency (just like if you sent XRP) or it stays in whatever the native currency of the CBDC that is sent. Xrp is not a stable coin, will never be a stable coin, but that doesn’t mean it won’t have utility…

[WiseYoda]

:)!!

[ap17]

Thanks WY, not going anywhere, waiting for the day when I'll be the bank as WI says.

[WiseYoda]

Very nice! Hope you’re doing well and good to see you’re still here.

[WiseYoda]

On the heels of World Bank categorizing XRP as a stable coin and now auto bridging? This is native to the XRPL meaning its built into the ledger (layer one) and any automated market maker can use this (watch video below).

This makes XRP even more liquid then it already is with better cross offers, conversions and pairing with the best rate with anything else thats out there.

This is next level bridging and is why it enhances liquidity. Although this has been a tough hold Im not going anywhere. Its clear what they’re aiming for and if they succeed things will change overnight.

LINK:

XRP is used as the 𝙤𝙣𝙡𝙮 bridge currency in the Autobridging feature of the XRP Ledger.

New proposal XLS-60D aims to set Autobridging, to be considered by 𝙙𝙚𝙛𝙖𝙪𝙡𝙩 to bridge issued currencies via XRP

The XRPL AMM can use Autobridging too!

What's Autobridging again?👇🏼 pic.twitter.com/FNCOdzOIWE

— Vet 🏴‍☠️ (@Vet_X0) February 18, 2024

[ap17]

Same holding both too.

[WiseYoda]

Hey old friend—I hope you’re well and Im still holding as well and keeping my chips on XRP black. Holding a good amount of XLM as well but my largest holdings is XRP.

Go XRP!

[Wooden Indian]

Thank you, WiseYoda. Good to hear from you. No need to ever sell XRP.

[WiseYoda]

This is speculation based on the World Bank categorizing XRP as a stable coin as well as what Ripples CTO David Schwartz stated in an interview. Its worth noting that since 2012 no stable coin has ever been on the XRPL. I don’t think thats by accident.

Two scenarios here. Lets say for the first scenario XRP becomes a neutral stable coin for cross border transactions for CBDC’s.

Well, it can’t be cheap because you cant be using hundred of millions of XRP to send CBDC’s all around the world so it would have to be pegged to an asset like gold or to a basket of currencies.

A second scenario would be using cryptocurrencies themselves to back a stable coin. Schwartz says XRP could be used to “back” a stable coin. This means you would have a stable coin pegged to whatever asset or currency its pegged to and XRP. It would be a two tier system that would use a cryptocurrency as collateral.

Schwartz explains XRP being used in a different form like this and described it as a different unit of account but it would still be considered a stable coin because it would be backing a stable coin.

This scenario would make CBDC’s attractive enough for the public to accept as a form of payment. It would be having a two tier system for the stablecoin that would be used to send CBDC’s all around the world.

TWITTER LINK:

To clarify the conclusion I’ve come up with Capco doc regarding XRP as a stablecoin, we look at David Schwartz XRP backed stablecoin further in detail. It’s not XRP that will be backed but XRP that’ll back the stablecoin. stablecoin is still XRP but w/a different unit of account! https://t.co/NamPXPmSFP pic.twitter.com/A75Juy4Yq5

— Mickey_B_Fresh☀️🪝 (@MrFreshTime) May 11, 2020

[trunkmonk]

just like every other market bubble, the Ripple effect is coming, but not like they think. they are so used to watching a stock go up without understanding anything about why or market and economic forces behind it. so when they used to turn PC on and watch, they watch it go up, they are happy. so they now think they can turn on PC and its supposed to go up and when it dont they somehow feel good, maybe something they ate, and somehow know it going up, because when they used to watch it, it eventually went up. and like every bubble popping in history, there was gnashing and grinding of teeth. they all get angry and blame someone.

[Brokemillwright]

The answer to that question is literally your name.

[Dogger05]

Well there is a limit if it’s stable to a certain asset and the limit is the value of the asset. So with xrp, for example, I can see it having utility in the trade finance world, which is worth Aprox $20 trillion USD annually so if xrp were to become the sole medium of exchange in trade finance then its market value would theoretically be 20 trillion. But that wouldn’t make it a stable coin, it would be a utility coin.

[delerious1]

So why do folks expect a coin to go ballistic if and when accepted...isn't there a limit to how high it could go?

[Dogger05]

Well ok, I still don’t understand but I’ll play along for a bit. A stable coin by definition is stable to some other asset, mostly fiat currency. What is the other asset that the world bank is considering xrp/xlm to be stable to???

[Vulcanized Crawler]

World Bank Is Incorrect....listen up

[trunkmonk]

As u should be. World bank means nothing, IMF is everything in regards to currencies, weight of each, and the fact there are only 6 SDRs in the basket. Not a single stable coin. They are everything for official international currency exchanges and have authority over central banks holdings of each. Dollar has just under 50% drawing rights, China is moving up, pyramid coins, Zed, zero, nada, nothing.

[WiseYoda]

It wouldn’t be based on the Worlds Bank Currency. The World bank categorized XRP and XLM as stable coins. The price of a stable coin is based on whatever they peg it to. My point is that if they used XRP as a stable coin they would have to price it high and peg it to whatever necessary to have it at that price.

[trunkmonk]

Every argument I know of always attempts to compare a stock share, block chain, or alt coin to the dollar. None will replace the dollar, and if it’s going to replace it it won’t be based on it. . There is no understanding of how transactions, value, bonds, and debt, etc will be handled. Fedcoin or Any BRICS coin will be tied to gold or it won’t work, ever, in any basket other in its current state of delusion

[Dogger05]

Oh really? What is the world bank currency right now? I’m a little lost in your argument I have to admit…

[WiseYoda]

Oh my no. A stable coin for the world bank would not be $1 because of how much XRP it would take to send $100M lets say so were talking a high stable coin price. At $100 price it would take 1M XRP to send $100M from Bank of America to the World Bank and that still sounds like too much XRP. The higher the price the less XRP is needed.

[WolfOfGrnStreet]

Tic toc tic toc . . .

[Vulcanized Crawler]

yea the cat said run run run

[WolfOfGrnStreet]

Government covered it up long enough in court. You will get the picture soon. A lot of lies and fake shit

[Dogger05]

So what are the implications? Does this cap the upside to $1 usd? Stable to what I guess is the question.

[Vulcanized Crawler]

keep buyin

[WolfOfGrnStreet]

$$$$$$$$$

[WiseYoda]

Sean McBride, who earlier served as a director at Ripple, hinted that XRP could evolve into a stablecoin amid World Bank recognition. Why hasn’t Ripple ever allowed a stable coin on the XRPL? This is very interesting and may soon grow legs.

[WolfOfGrnStreet]

$$$$$$$$

[WiseYoda]

This got my attention: “XRP Recognized as Stablecoin by the World Bank, Claims Former Ripple Director”: https://coinpedia.org/news/former-ripple-director-says-world-bank-tags-xrp-as-stablecoin/

[Gman3343]

Of course lol

[Alpha611]

lol.....True! But then, You don't need to be told that,
It's ONLY after you sell! You will see upward movement. ( :

[ceaa]

Gmann...
in front of the court 1.96 $ worth!!!(didn't sold at that point believing it was more worth)
Was buying at .19 before all those sponsoring stories told ABOVE and beyond by the SEC chairman (Clayton)fucking our Christmas back there .
Wish you a good year and a better Christmas( by NOW , even if we did get cuted by .....)

[ceaa]

Mindless self
Ap17
Gmann
Weddfarmer
Trunk Monk
quanticolor
I'm trying to greet you all , because we are all out of our minds if we kept holding XRP till now.
Good luck 🤞

[delerious1]

XRP price could rally towards $0.56 target amidst possibility of settlement in SEC v. Ripple lawsuit
CRYPTOS | 02/13/2024 09:16:27 GMT



XRP price climbed to $0.5338 on Tuesday, yielding nearly 5% weekly gains for holders.
Crypto lawyer James Murphy predicted a settlement in the SEC v. Ripple lawsuit in a recent podcast.
Attorney Fred Rispoli believes the stakes are high for Ripple as the firm shares details of post-complaint sales with the SEC.
XRP price climbed nearly 5% in the past week and hit a high of $0.5380 this week. The altcoin is currently in an uptrend. Two catalysts are likely driving gains in XRP. The first positive development is Ripple’s request to extend the remedies-related discovery deadline by a week, which was granted by the Court.

The second is the possibility of a settlement in the SEC v. Ripple lawsuit, predicted by crypto lawyer, James Murphy.

[Gman3343]

Xrp has been a very poor performer. Been holding this bag of shyt for 7 years now to be hardly green. Big disappointment, and they can't blame it all on the sec. Everything else moving, this doing much of nothing. For the best utility token out there, this sure has been a dud for investors

[ceaa]

This Snail should be at .90's.