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Hello this is Matt on the moon Lambo Channel with xrp over 70 cents it's very Clear that speculators in the crypto Space have been racing to buy more xrp Now for most of the last few months as The price of xrp had generally drifted Downward uh there was no shortage of People uh feeling depressed feeling as Though xrp would never have a run up in Price ever again you there was Noticeable negativity on social media to This but it no longer feels impossible For xrp to break a dollar and run to a New all-time high does it as I've been Saying for years and especially in Recent months because people need to Hear it it only feels impossible until One day you wake up and suddenly it Isn't yesterday was one of those days And at least today so far today has been Another one of those days so we'll see How how long this carries out you know Xrp can't go up without breaks and dips To the downside forever of course I know That I am a realist but enjoy these days When you get them because it's Absolutely Fantastic and so I want to share a few Things with you in this video there was This headline from the Crypt basic Accounts holding 100,000 to 1 billion Xrp hits year high as price decouples From Bitcoin um and then there was I also
Want to talk about um this I think yeah Headline here oh from the cry crypto Base also why is xrp rising something Big coming for xrp in Ripple swell and Folks there are there are so many people That are saying the only reason we're Seeing xrp Rising right now is because Ripple's about to have their swell event Which uh I think is on the eth and the Nth I want to say you can check fact Check me on that when I I think it's 8th And nth uh I I do not buy that narrative I think that it's a low probability that We're seeing xrp price move up Specifically because of this and I'll Explain why Um and then there was also this article From the daily hoddle last time this Happened Bitcoin exploded according to Glass node co-founders here's what they Mean and so it's just I I love this I'm A big fan of glass node because it's Onchain analytics they they just take a Look at data and they come to the most Reasonable conclusions they have and the Conclusion they're coming to is that Number go up don't mind that but uh Before going further I do want to be Clear I do not have a financial Background of any kind I am not offering Financial advice and you definitely Should not buy or sell anything because Of anything I say or right I'm just an Enthusiast who enjoys making YouTube
Videos about crypto related topics but Just as a hobby and just for fun all Right so let's jump into this first Piece xrp wallet holders in the 100,000 To 1 billion range have hit the highest Level for this year contributing to an Impressive upsurge in price data from The crypto analytics platform santiment Shows that xrp's valuation has also hit Its highest level since August August 2nd the cryptocurrency's price is Currently worth 67 cents after soaring 8.87% overnight and so this was actually Written last night and um an xrp over The last mind you 30 days up nearly 35% um but here's what uh here's what Santiment Wrote uh xrp is at it again reaching a Market value north of 68 cents for the First time since August 2nd The three-month High happened as xrp Moved up plus 23% against Bitcoin in Just the past week wallets with 100,000 To 1 billion xrp now hold their highest Levels highest level in 2023 and I'll also remind you even as The price was trending downwards I kept Showing you reports week after week that Institutional money by and large was Flowing into xrp as prices were lower Now number go Up funny how that works huh what about Swell so let's talk about this there are A lot of people in the community and
It's it's fair enough to bring this up This isn't crazy to speculate that the Reason the price of xrp is going up is Because of swell but is it I personally Do not believe that that is the most Probable um scenario here I do not Believe that's what's happening um and So I made my case here um there's an xrp Community member named who wrote To me and said said after I shared the Mo one of the most recent price um you Know Updates this morning I think it was When xrp hit 69 cents and so he wrote to Me and he said pre- swell pump nothing To see here and you know fair enough Everybody's entitled to their opinion I Don't think that's a crazy opinion I Just respectfully disagree and I Although he could be right I think it's Not particularly probable at all based On historical data and so I went through Again and I already knew this but I Wanted to get do a little refresher so I Did I looked at data for the six years Of price action for xrp last six years Which and by the way there's only been Six Ripple swell events in history so That's as far as I could go back it Started in 2017 so I went back year by Year and I looked at the price action Leading up to swell and what happened Well I responded to him with that data And I know people have this perspective That this has happened before and price
Goes up because of swell that's a Narrative I don't see truth to it so Here's what I wrote I disagree history Would not have us believe such that is The mo We Believe such that is the most Likely explanation of this Pump here's what happened to xrp price Leading up to swell the last 6 years in 2017 xrp price did not rise and folks Mind you this was during the crazy Bull Run of 2017 the most insane price action To that point for crypto in general uh Earlier that Year uh I think it was I think it was in April xrp ran up to 42 cents for the First time ever and it started the year I think somewhere around like half a Cent so that's a major move to the Upside but then it went back down and it Was around 20 cents it may have gotten As low as like 13 or 14 cents it went Down and then it was floating around There for quite a while and really it Didn't do much of anything until December so when Ripple swell event came Around which that year I want to say it Was October I looked it up this morning But it doesn't matter the point is Leading into that exra was just moving Sideways it was volatile but there was No runup to you know to to Ripple swell Event certainly not certainly not okay So that was the first one what about in 2018 I wrote 2018 xrp price Rose ah this
Is true and by the way this is the only Year that the price of xrp rose going Into the swell Event um now why did this happen though I wrote about it in the post it's Already on your screen I'll just talk About this though it Rose because there Was a rumor that Ripple's XR rapid was About to go live and that it would be Announced at Swell now xrapid in case You're new or you may not be familiar With xrapid xrapid became known as on Demand liquidity there was a Rebrand and Now on demand liquidity is broadly known As what just Ripple's payment system I Don't know it doesn't have a snazzy name Anymore I guess they're just considering It part of Ripple net I don't know um I Wish it just I wish it just kept it as Odl but they didn't think it made sense So hey fair enough it's their company But um but but anyway so it it turns out Though this is one of those rare Instances where the rumor was true and So I don't know if there was some sort Of information from Ripple that actually Leaked or if somebody just made it up And it circulated and it just happened To be true but it was true so the price Rose on up leading into swell and on That first day when Ripple announced Xrapid was live and out of pilot mode uh The news broke price not only did it not Go up it went down price cred on down
Because it was a buy the rumor sell the News thing we've seen these types of Things uh throughout history and not Just in crypto through you know in in Equities markets as well buy the rumor Sell the news that's that's all that it Was if everybody knows it it's not Really secret so then when the news hits That's the time to sell that's that's Why people did that and that's the only Year where price actually went up Leading into to swell uh and then I Wrote in 2019 xrp price did not rise in 2020 xrp price Rose after swell that Wasn't that funny where's this narrative This narrative is kind of falling apart Already isn't it in 2020 not only did xrp price not rise Going into swell it went up after swell Ended and I remember being there three Years ago because leading up to that xrp Had been hanging out in around 20 Something Cent range like it just seemed Like forever you know and uh and it Figuratively was and but then ultimately It just it went and I remember getting Into whether it was the late part of October or early November uh eventually It started moving a little bit but after Swell yeah it just it rocketed up to I Think about 80 cents pretty damn quickly Happened very quickly in 2021 xrp price Declined before hitting swell it went Down going into swell in 2022 xrp price
Declined going into swell and obviously That was an interesting situation Because he had the whole FTX collapse And the market was going down but you Did even before that that happened you Didn't see xrp price Rising going into It so the narative is false it's just Not true this is an organic price jump And that's way more exciting than if This were caused by SW that's what I Believe anyway and if I'm wrong that's Fine I'll eat my words I'm not perfect But that's what I think is highly Probable at this point now if you have a Counterargument or maybe I misread Something you think I'm wrong that's Fine uh you know tactfully tell me in The comment section I'm willing to Listen but uh this is what it looks like To me right now so take that for what It's worth and then there's this from The daily hotle last time this happened Bitcoin exploded according to Glass node Co-founders here's what they mean glass Node analysts are pointing out one Historically bullish signal for Bitcoin That previously prompted explosive Rallies for the top crypto asset by Market cap glass node founders Jan ha And Yan Alman say that Bitcoin has Crushed multiple critical resistance Levels and is now at a point of Strengthening momentum the analysts zero In on bitcoin's relative strength index
RSI for short which is traditionally Used to gauge an assets Momentum uh with bitcoin's RSI now above The 70 level the analysts say that based On history Bitcoin could be back on Track for another large move to the Upside and folks what do you think this Is going to mean if this happens and it Do seem to be the most probable outcome Whatever the timeline is what do you Think that means for xrp which is Already going ballistic because again Bitcoin leads the way historically it Always has and now with xrp having legal Clarity what it's just not it's not Going to respond after all of these Years there's going to be extra Attention on xrp because it's the only Large cap coin in the United States that Has legal Clarity yes uh but anyway here's the Quote we analyzed our proprietary regime Shift and concluded that we were Transitioning from a bearish to a Bullish environment the weekly chart Reinforces our view a long-term bullish Trend was confirmed momentum is building Up and from the looks it's only the Beginning notice how the last time RSI Crossed 70 Bitcoin exploded the RSI is Now beginning to be overbought and could Stretch higher toward the 100 Mark as it Is the norm with bullish markets in Other words as long as it sustains the
Uptrend the Bitcoin price would be Inclined to keep the rally in intact end Quote which folks is what we want even If you don't hold Bitcoin or you're not Excited about Bitcoin doesn't matter you Should be excited about the news and the The suspicions here surrounding Bitcoin Because should this occur this is Fantastic for the rest of our Holdings In crypto including xrp we need this History tells us we need Bitcoin in Order for xrp to hit a new alltime high Because it's never happened without Bitcoin being in Euphoria mode and That's fine that's crypto it all moves In tan there's nothing wrong with xrp That's not what that means it's just the Way things are today because the AET Class is in its ncy it's all coming Though it's all coming together folks It's all coming together I'm not a Financial adviser you should not buy or Sell anything because of anything I say Or right that would be a very very very Bad idea until next time to the Moon Lambo