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Hello this is Matt on the moon Lambo Channel got a few things I want to cover With you in this video um including this Headline from the Crypt basic uh analyst Says JP Morgan has made a big move into Xrp X Ripple director reacts so does uh Does Wall Street want your xrp is that's What is that what is actually happening Here uh well I'll just say this at the Outside I will not be surprised in the Least of If eventually all sorts of Wall Street firms actually want your xrp uh Because adoption is only going to Continue and we're seeing Wall Street Now as a piece of Bitcoin if you think It a going to happen xrp I just Respectfully disagree and maybe the First form in which that will happen Will be the approval of a spot xrp ETF And by the way if you're curious about That uh my last video was talking Exactly about that because Black Rock CEO Larry Fink was asked on live Television on Fox Fox Business by Charles gasparino uh what about about What about launching what about you guys Over Black Rock launching U an xrp ETF But I digress I want to share with you This and also I noticed that uh there's Been a bit of a increase in negative Sentiment recently and I don't want Y'all feeling down let's let's talk About some positive bull cases uh to Kick the video off but uh before going
Further I do want to be clear that 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 enthus to enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun and I'll note that at I'm At the time I'm recording this um Bitcoin is a little shy of $43,000 xrp Is knocking on 58 cents a door but uh I Want to share with you perspective from Chart analyst credible crypto because The price for Bitcoin has been roughly Around even if a little bit higher for Much of what I'm going to share with you I have a string of uh of posts and Opinions from from incredible crypto That but they unfold over a period of Time and I'm going to be doing I'm going To be sharing them with you Chronologically and I just wanted to Note that the price for Bitcoin uh it's It's not been that different for much of The period during which he was um Sharing these post it really hasn't Moved much and so there is this post First this is just a bitcoin price chart And he shared this less than 24 hours Ago this would be uh 11:40 a.m. Yesterday and he wrote The Following Almost at my downside Target let's take The lows then run it back to
$47,000 plus and chart analyst credible Crypto firmly believes that we will be Seeing a new all-time high for Bitcoin And it's going to be happening this Market cycle it's going to be happening It is is not he believes it is not the Case that we are at the top right now With Bitcoin at its highest hitting Roughly $49,000 just the other day uh he Says no The Best Is Yet To Come and he's Been articulating his case for some time And uh he believes that we're basically At the level where this thing's going to Be starting to move up again and it's Just so interesting because people are There enough people out there that are Disappointed that we didn't have this Huge explosion with the ETF but I was Never expecting that and admittedly I Was expecting more of a sell the news Thing but um I I never thought that that Would be a catalyst regardless for it to Move to the upside uh so anyway that was At 11:40 a.m. yesterday then we have This post and this is at 3:18 p.m. Yesterday afternoon and he wrote The Following at this time the asks have for The most part been either filled or Pulled you talk about Bitcoin here Meanwhile bids below down to $40,000 Remain so bid depth SLS support below is Now stronger than ask depth SL Resistance Above This adds some Confluence to my idea that our local
Bottom is either in or very close to in At this time so he thinks we're about There and immediately after posting that Somebody asked so if the local bottom is Indeed in then there should be no Rejection from $47,000 but instead up Only question mark and credible crypto Responded to the guy and he said we'll Update this in a bit but maybe some Consolidation above $47,000 no major rejection yes but maybe A few days of sideways before we take Off and so he has had this conviction For years on end he firmly believes that We're in this extended cycle we're going To be seeing this move to the upside and He says the next leg it's going to be Coming soon then there is this post and This is at 4 uh 455 p.m. yesterday Evening uh just another bitcoin price Chart and he said lows taken funding Reset back to neutral per premium flat Again and a bit of an open interest Flush from some lever Longs this is Where I want to watch for a reversal Back to the Upside so he thinks it's coming And then uh then there this is the most Recent one on on this specifically and He this is 519 p.m. and he said if we Can get back above $44,000 uh shorts should squeeze and Take care of the rest sending us back to $47,000 plus and so he's looking at what
People are doing he's looking at actual Behavior on exchanges to come to this Conclusion the reason he's able to make So many of these these short-term calls Accurately is cuz he's analyzing what This is something that I don't see Regularly done by any an but he's he's If you're talking about short-term stuff He's actually looking at the real Behaviors of of speculators that's what He's doing on Exchanges um and then there's this and This should give you some optimism Because I hope this is correct but there Is an analyst here um named posty uh not Familiar with him not that that matters But uh he shared this uh this this Bitcoin price Chart and it's he's showing clearly so This is the last cycle it actually go It's going back to 2018 and he wrote all Right this should be fun anyone think We're at the same stage as any of these Which is most likely a b or c # Bitcoin So for those of you not looking at the Screen I'll just describe it so again There's this price chart for Bitcoin Going back to 2018 and there were a few Particular points of interest uh one That looks like it would have been what Call it halfway through 2019 where Bitcoin had been on a tear it actually Had been rising Upwards um you know may not look like it
With this massive move that we had During the last Market cycle also in the Same picture but if you were to zoom in On this that's a pretty big ass move up Honestly I remember living through this But what happened once we got there yeah Trended back down for a long long long Time call it like what about a year a Lot of it it there was some fun upward Price action I remember living through This so were we at that point where a is Circled and and maybe call roughly the Middle middle of 2019 or maybe B which Would be what close to August September Is uh in in 2020 is that where we're at Or are we a little bit further along Where things started to move up even Higher but nowhere near the top are we At C and so C this would be before Things start going ballistic in 2021 This would be like the the well it's Called like the tail end of 2020 with The way Circle that may be the beginning Part of 2021 but that is before Bitcoin Went on its massive tear uh ultimately Getting to that high of almost $70,000 So which point are we actually At and I'd actually love to hear what You did you guys lock in your own Thoughts because um I want to share with You credible crypto's response to this Because again he firmly believes that we Are going to go on a massive run and so In terms of you know how how the the
Charts unfolding if it's going to be one Of those credible crypto says C that's It just see he believes that what is Most likely is that we are looking at C That's what's going to be happening and If that's correct and I never pretend to Know because I'm not I don't make price Predictions and I'm not a Sharkey I'm Just as interested and curious about it As everybody that's listening right now So I follow this and I I love following Uh getting perspectives from all sorts Of different analysts and just kind of Taking that all in and talking about it But if he's right my gosh The Best is Yet ahead and it's going to get Crazy so we'll see what happens here There's also this post from chart Analyst Michael vop this is a a Bitcoin Dominance chart here market cap Bitcoin Dominance and he uh he wrote The Following the Bitcoin dominance looks Topped out prior to the Bitcoin having Expecting to see a continuation as Ethereum is taking more momentum this Might be the Cycle's high on the Dominance as the altcoin bull market has Started now folks I don't pretend to Know for sure whether or not Bitcoin Will or will not hit a new alltime high I severely want it to believe me I do But in terms of do dominance uh Obviously it is true that altcoins have Been surging here and so even if uh
Bitcoin dominance decreases and we've Already seen the high for the cycle and And maybe we have I'm not pretending Enough even if we have that in and of Itself I just wanted to note is not Necessarily some sort of indicator that We're going to keep sliding that Bitcoin's going to slide to the downside Pricewise because Bitcoin can increase In price and if alts are outpacing it Then you just have a decrease in Bitcoin Dominance but that's just because alts Are outperforming it so Bitcoin price Could go up while altcoin price also go Up but just so fast that Bitcoin loses The dominance which is exactly what We've seen in the past Year uh it's just kind of like a Question of to what Degree and of course as mentioned at the Outset of the video Eventually wall Street's going to want Some of that sweet sweet xrp profit and My guess again like I said is the first Way that going to unfold is via an xrp ETF but that's not the thrust of the Video here that's not the thrust of even This topic here uh from the Crypt basic Analyst says JP Morgan has made a big Move into xrp X Ripple director reacts And I got to admit I was pretty Surprised by this one but I did want to Go ahead and talk about it piece reads As
Follows Ben Armstrong formerly part of The bitboy crypto brand recently Rekindled baseless claims about JP Morgan making a big move into xrp Stirring reactions from an ex Ripple Director Ben Armstrong who commands some Renown as a crypto Community influencer Made this disclosure in a series of Posts on X according to him JP Morgan Had made a substantial move into xrp Accumulating over 7.5 million tokens Armstrong claims this move by JP Morgan Constitutes about 7 .5% of the bank's Total wealth however this calculation is Incredibly flawed notably 7.5 million Xrp currently costs $ 4.46 Million stating that 4.46 million is 7.5% of JP Morgan's wealth would put the Bank's total wealth at $ 59.46% assets according to the latest Figures from a 2023 valuation in his Disclosure Armstrong talked about the Importance of JP Morgan's move stating That it shouldn't be Underestimated he alleged a quiet Accumulation of xrp by JP Morgan which According to him positions the bank as a Major player in the crypto scene notably Armstrong's claims also called attention To Black Rock the world's largest asset Manager he alleged that the asset Manager Which recently had its I shares Bitcoin ETF approved is exploring the inclusion
Of xrp in its Investment Portfolio Ben Armstrong further called attention to The ongoing legal battle between Ripple And the USC according to him the fact That these major institutions have made These bold moves despite the legal Constraint indicates a growing Confidence in xrp's future if such an Accumulation Trend ever existed the Development would suggest that as the Legal battle persist influential Financial players are placing their bets On xrp which recently gained regulatory Clarity so folks again yes wall Street's Going to increasingly have access to the World of crypto it's it it was always an Inevitability like I I remember talking About this over half a decade ago which Seemed way more impossible back then but We have it today with Bitcoin if you Think it ain't going to happen with xrp I just respectfully disagree it is going To come it's just that what's being Cited here is certainly not the Case but check this out peace continues Reacting to Armstrong's claims Matt Hamilton a former director at Ripple Expressed complete skepticism while Doubting that such a purchase ever Happened he questions questioned its Significance in the wild chance that it Did considering xrp Supply and so then He did a quick math equation here and so In response he said I'm guessing this is
A parody account responding to Ben Armstrong I mean assuming you can parody Ben Armstrong hint for those hard on of Numerical reasoning there is 100 billion Xrp so 7.5 million divided 100 billion Is 0.75% so the math was obviously you know I mean It's it is what it is I mean he cites it Right there so like obviously what was Being cited was way off but you know it Was interesting because I I was Wondering like where the heck did did This stem from and I found it I actually Found it it comes from crypto the crypto Alert folks this is a fake News website This is a big part of the reason I Wanted to cover this in this video Because when you come across them if you See this website anywhere just click Away because you cannot trust them and And when I say fake news what I'm what I Literally mean is that this website Writes fiction and publishes it they Write actual ction and publish it and it It's and they do it for clicks obviously So something's working for them I guess They're making money somehow Presumably but what's weird is they have Actual news story sprinkled in but they Write fiction next to it presenting it As though it's real and so here you have The headline November 18th of 2023 Black Rock and JP Morgan purchased over 7.5
Million xrp as r&t to be listed on major Exchange so this is the earliest in of This I can find now as far as why Ben Armstrong is talking about this a little Bit less than 2 months later I don't Know but this is actual fake news this This is not real there is I mean there's There's no evidence of this right um and It comes from a fake News website for Sure as evidenced by this here you have The crypto alert headline remember this One June 30th 2023 SEC sources confirm Gary guinsler Resignation folks it it is an actual Piece of fiction It's an actual piece of fiction and These are the people making these big Ass claims and I see it from them again And again and again just crazy nonsense And it bothers me because it does get Circulated within the xrp community and So I keep pointing it out to the people That are sharing this news source and You know to the people that keep doing It regardless I'm like oh okay so I Can't trust you either because if people Just mistakenly think oh okay it's a Reputable crypto media outlet and you Got tricked well that's one thing um That that's easily forgivable I just Question the people that continue to Push this over and over and over and Over again and some people do so I that But that's why it's one of the reasons
Why I wanted to highlight this it's Being broadly discussed in the xrp Community so you know I cover xrp stuff So of course I'm talking about it but Again also just kind of as a warning Don't trust this damn website and Because it's it's widely discussed and They found that they're getting traffic From our community so they keep writing About xrp related stuff or people that Or stuff that would specifically attract Xrp holders they're trying to take Advantage of you F just stay away from The website it's garbage so again don't Know why Ben Armstrong was talking about This uh but the news within is Unverified hooa and jibber Jabber I'm not a financial advisor you Should not buy your 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
