Washington, just like over to the crypto world. Be warned, the headlines can be just as singularly focused and confusing as anything inside the beltway. Like Ripple for example, it has had everybody talking for the last week. The coming week is likely to be no different. All eyes will be on XRP.
Ripple, of course, is the crypto force offering UBS, Santander and UniCredit.
Using Ripple, banks can bypass the antiquated SWIFT system. This cuts transfer from international payments to a few seconds from something like three days. That could save banks billions in fees.
Ripple's XRP token has had a share of critics, some of which is reflected in XRP being one of the worst performing cryptos this year from $ 3.65 in March to $ 0.26 on September 13th.
Sudden About Face
Since then, everything has been uphill. It started a few days ago when CNBC hosted Ripple's Sagar Sarbhai. The interview touted high speed is ready for commercial launch. Sagar also presented a laundry list of 120 banks that were on board with its xCurrent software.
That interview has been sparked in the price of XRP and grabbed the attention of just about everyone in the crypto community. Strong technical buy signals were flashing. In addition announcing that two new banking clients had joined RippleNet, all other fingers were pointing to Sagar's xRapid announcement.
The following is the headline in the Business Cloud website: RIPPLE CRYPTOCURRENCY TO HIT KEY $ 1 THRESHOLD, PREDICTS CEO Nigel Green, founder of deVere Group, the world's largest independent financial advisory organization. Green is $ 1 prediction is for year-end.
Upcoming SWELL Conference Prompts Even More Speculation
Sarbhai's CNBC interview. On October 1-2, Ripple is hosting the SWELL event in San Francisco, CA. The event is meant to connect the world's leading experts in policy, payments and technology for a proactive dialogue in global payments today.
President Clinton. It is easy to conclude that Ripple is geared up for a major news event. Speculation is that xRapid will be announced and given a date for launch. When you consider it a keynote address from Bill Clinton, it could cost Ripple well over $ 100,000.
It is fair to say that it has been in some time. Who would ever sell XRP at this point? The Wall Street Journal reports that Jed McCaleb, one of the co-founders of both Ripple and Stellar, "has recently stepped up sales of billions of XRP tokens and is thought to own". Back in 2013 he owned 9 billion XRP tokens.
OK, I know every once in awhile, but this is more than chump change. McCaleb has not worked with Ripple for five years and he is entitled to sell up to 750 million XRP annually once year five is passed. That should be enough. Lately, however, the desire to get out of XRP has pushed beyond the lockup agreement.
Why Would Anyone Sell XRP?
With all the good news ahead and the long term outlook for Ripple never looking brighter, who would not want to own XRP? This is even more dangerous given the depressed nature of the XRP price.
Everyone who owns an asset has the right to make decisions into McCaleb's business plan. However, there is a section in Investment Analysis 101.
One thing is obvious. After a thoroughly frustrating 2018, there are more reasons to own XRP than to be selling.
Featured image courtesy of Shutterstock.