XRP News

Market update: On Friday we experienced the biggest crypto market liquidation event of all time. And in the crypto market known for it’s extreme volatility that is really saying something. So after a few days of listening, reading and watching a number of market commentators that I respect I think I have an understanding of what went on. It seems that a huge short position ($100 million) was opened just before Trump announced the proposed 100% tariff on Chinese imports. The market then started crashing wiping billions from cryptos and liquidating leveraged traders. If this is true then it is clear that the tariff announcement had nothing to do with the crash and it was pure market manipulation. Also, it was reported that BlackRock managed to buy lots of Bitcoin at the bottom while the retail investors were locked out of exchanges. This is how the system is rigged on behalf of the institutions and us retail investors only get to feed off the scraps. At the tine of writing this on Tuesday 14 October XRP is $2.42 on CoinMarketCap - a great buying price if you’re sitting on fiat. Unfortunately I am not.

Gold and silver: The other thing I’ve been really paying attention to is the price of gold and silver. Gold has been hitting all time high’s for a while now but silver has just hit all time highs for the first time in decades so this is truly a historical moment in the metals markets. I am also hearing reports that silver supplies out of London (LME) are drying up and silver could be unavailable in a number of days or weeks. This supply shock could cause silver to start rising very quickly. This has massive implications to the banking system as for years JP Morgan and Bank Of America have been suppressing the price of silver by shorting it and now with Russia and China buying massive amounts they have lost control of the market and are losing billions as the price goes up. Normally these losses can be absorbed by these huge banking institutions but the numbers are so high this could have catastrophic consequences for some big banks. One to watch closely.

ETF’s: With a bunch of XRP Spot ETF’s due to be approved soon starting on 18th October with the Grayscale XRP Spot ETF it remains to be seen whether there will be delays due to the continued US government shutdown.

ISO20022: One thing that doesn’t seem to be subject to any further delays is the roll out of the new ISO20022 messaging system for payments, replacing antiquated systems like SWIFT with modern data transfer systems using XML and JSON. This is the final deadline for banks and payments companies to become compliant. XRP and a number of other digital assets like XLM and XDC are already ISO20022 compliant. The new rails are ready to go live in November.

Opinion: So, with the new rails in place we need the ETF’s to go live to drive liquidity into XRP and The Clarity Act to be passed providing the regulatory landscape institutions require and what are the chances of this all coming together at exactly the same time? November end is my guess. Let’s see.