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Hello this is Matt on the moon Lambo Channel I'm going to share two stories With you in this latest Moon Lambo Hot Jam and the first one is the type of Story that makes me roll my eyes just a Little bit or maybe a lot with lots of Audible Size here's the headline from the Crypt Basic xrp wallet associated with musk Address could signal next xrp alltime High so I've seen comments on social Media people actually playing with the Idea that this is a Walt going back Frankly as you'll see about a decade More than a decade and it's Elon musk's Wallet because there's a there's a tag On the account that says Musk look I don't remember when uh Elon Musk stated that he first jumped into or Or was aware of crypto um it didn't seem Like he had any sort of notable Participation until I guess what it Would have been what a bit before the Last rally if memory serves any Anyway uh And he he hasn't really shown a whole Lot of interest in xrb he likes Doge Because dog is coin you know he likes His memes okay funny haha he's got the Boring Company uh okay and that started out as A joke and he says that I've seen him he Said it publicly more than once you know Do started out as a joke doesn't mean it
Can't actually become something that That's his stance so it's like he he's In love with Doge and he tolerates Bitcoin and that's about as deep I've Ever seen him go into crypto here but I Will say it's fascinating because with His social media platform X he wants to To that to be turned into what he's Called the everything app he wants it to Pretty much do everything including uh Slicing your bread and toasting your Toast and part of that will include Payments and so not that I want to Deviate into this video about you know Directionally where he intends to go With the social media platform but one Would think that xrp would be perfectly Suited for Stuff along those lines so We'll see exactly what he has in store As time passes and so I wouldn't deny Something like that I'm just saying that This headline doesn't necessarily mean That uh we've got Elon Musk as a secret Xrp holder that's it but you know what There's actually something more Interesting in circle so yes I'm Highlighting this because it's been Spread very thoroughly throughout uh you Know social media and crypto media so When this stuff happens I like to dispel These types of Notions uh but it's it's Interesting because this does show an Xrp holder that's been it's been around For over a decade
Talk about an OG then there's also this Headline surprising reason behind Stellar xlm and xrp price correlation Unveil and so this topic has always been Interesting to me and I've never had Great answers that with with a you know What I would consider to be a sufficient Level of specificity explaining why There is this very strong price Correlation between Stellar lumens which Is xlm and and xrp but it exists they're Treated the same well there was a There's been some in-depth conversation On x recently and David Schwarz jumped In uh giving his thoughts on a few Things uh I'll start by sharing you as We run through the article once we get To this point he he started talking About Ripple's initial plans to get rid Of the vast majority of their xrp and They failed at getting rid of xrp which Might sound silly on the surface but It's not as silly as you might think to Be honest with you uh but then he gives His rationale for well speculation let's Call it speculation as to why xrp and Xlm match up very Samy Samy on charts They are treated the Same 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 all
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 into this First piece to dispel the notion that It's reasonable to suppose that Elon Musk is secretly an xrp holder and has Large quantities of xrp and has for like A decade that's silly nonsense sense I Think Anyway anyway piece reads as follows an Xrp liquidity tracking resource recently Identified a smart wallet that it Believes could help signal when xrp has Reached its next all-time high price the Liquidity tracking resource identified As xrp liquidity on X disclosed this in A recent post the team behind the Resource called attention to a Smart Money wallet associated with an address With the tag Musk they revealed that the individual Behind the wallet is fascinated with Popular fascinated rather with popular Figures associated with astronomy in Addition this Fascination extends to Individuals who have made notable Contributions to the field of science And technology so folks just because Elon Musk owns SpaceX and there's hints about astronomy Here does not mean that this is somehow Secretly Elon Musk my anyway Pie continues notably the whale has
Wallets with tags such as Isaac Newton Andreon turine Sean far and others these Addresses have been around for a long Time having all been activated in 2013 And 2014 shortly after xrp started Trading the whale first activated the San wallet in June 2013 before activating Isaac Newton and Musk in November 2013 te these addresses Activated all the other wallets Including a newer untagged wallet which The team behind xrp liquidity has Spotlighted this untagged wallet Activated by the Isaac Newton address in August 2017 has received all the xrp in The other wallets interestingly all the Other addresses transferred their Holdings to this wallet on August 26th 2017 bringing its account balance to 20 Million xrp at the time yeah and so uh Back then I mean that still would have Been a pretty penny but nowhere would it Would be worth today obviously and I I Guess you know part of what I find so Fascinated about again it's kind of like What I said at the outside of the video It's just interesting to me that Somebody's been an xrp holder for Literally over a decade and yes there Was some selling along the way in fact I'll show you just what was sold in 2017 Cuz uh let's say musky here made a made A mint right uh but it's it just it goes To show
You know the power of just having time In the market rather than time in the Market just having exposure for a Prolonged period of time because if We're right an xrp is going to have Stain power then the prices we're seeing Now are nothing compared to what they be They'll be in the future just like a Decade ago when this guy was holding xrp Back in 2013 you couldn't have known Exactly what would be in 2024 but I'm Sure would have been pretty damn excited To know that you know over a decade Later it would be uh whatever is today Around 5657 C and then to also know that Uh its alltime high was you know closer To $4 it's time in the market and we don't Know exactly what's going to happen Which is why either you have exposure or You don't and that's why I have broad Exposure to the crypto asset class it's And it's the reason that I've been Holding xrp for a long long time and I Will continue to because I don't choose When it goes off but I do believe it's Going to Happen anyway piece continues the Address has held onto most of these xrp Tokens for over 6 years however the xrp Liquidity team identified that this Wallet transferred a total of 2.99 Million xrp to bit stamp in December 2017 a few days before xrp clenched its
All-time high of $3.31 recall that xrp was already Witnessing massive bullish momentum as Of December 2017 writing on the uptrend That began on December 11th 2017 the Address in question mov moved 2.99 Million xrp to bit stamp on December 14th 2017 across three equal Transactions so this individual Recognized the opportunity at least um And presumably made a pretty penny on This but still has a ton of xrp so I Don't know who this is exactly but it's Rather fascinating is it Not so and it's just kind of funny to Think like whatever amount of xrp we Have right now and even if you feel like You objectively feel like you don't have Quite as much as you'd really like to Have I have a feeling if you fast Forward say another decade people would Be just having their minds blown knowing What you how how much xrp you have right Now I mean if we're right and it's going To be way more in the future yeah it's The same stuff that you saw with Bitcoin You know think about early bitcoiners How many like it was very common for People to have thousands of Bitcoin or More like in uh you know like 2011 2012 It was fairly normal Because they didn't know it was going to Go to $70,000 each right it's the same Concept here I believe X is going to be
Way way way more in the future but it is Weird that we have this interesting Correlation between Stellar Lumen xlm And Xrp which brings us to this piece you Today surprising reason behind stellar Xlm and xrp price correlation Unveiled and it's not exactly that it's Unveiled it's still just a bunch of Opinions but I think that um everybody's Going to be curious to hear what David Schwarz has to say here I just I Appreciate his insight and I think that His his opinions frankly when it comes To stuff like this carries a lot of Weight certainly around the xrp Community anyway peace reads as follows Xrp the sixth largest cryptocurrency by Market capitalization has shown a Remarkable correlation with xlm the Native cryptocurrency of the Stellar Blockchain in terms of price movements Perplexing investors and analysts like However the specific explanation for This correlation remains unknown and has Been the subject of much speculation and Debate in recent tweets Ripple CTO David Schwarz offers a surprising and Relatively unknown perspective on the Frequently Asked question of why the two Cryptocurrencies correlate so strongly In their price action in the last few Days there has been a heated debate on Social media about the price about the
Xrp price along the lines of the Discussion an ex-user suggest that Ripple burn some of its Supply to Influence the xrp price so I'll get to That and um I I certainly do not have Some sort of incredible take on this Other than it's very clear that since um Xlm is just a clone of xrp that was Modified to whatever degree uh it just Seems to me that since you know one's a Copy of the other they're just being Treated more or less the same now as far As why the market thinks that's Reasonable to do so well that's what We've been that's what we've been having Conversation about for years on end at This point I just I haven't really been Able to make it further than that but David Schwarz does have some thoughts But we're going to start here because he Was talking about Ripple's initial Desire to uh to not hold as much xrp as They actually do in reality now um and I'm not I'm not going to go back to the Very beginning of this this thread um I Think this is a pretty good jumping in Point right here because otherwise this Would be a way too long video and it Goes in too many different directions Here but uh here's what David Schwarz Had to say literally Yesterday we were originally hoping to Get our Holdings way down in just a few Years mostly using giveaways that
Strategy just didn't work we don't want To be holding lots of xrp for decades But it's not clear what other options we Have for what it's worth I believe the Primary drivers of xrp's price have Almost nothing to do with any Factor Specific to the xrp ecosystem Okay so Couple very interesting fascinating Things there um first of all in case You're wondering well why why couldn't You just give the xrp away why wouldn't That work well as soon as xrp was Trading on exchanges if you dump that Much xrp that quickly uh it doesn't take A rocket science scientist to figure out What happens you crater the price of xrp And in the early days of a Cryptocurrency that could be crippling Had that been done I mean it's Reasonable to suppose there's at least a Possibility that xrp wouldn't have been Adopted to the degree that it has been Today would be out of the top 10 because That's a crucial starting point and we Can't know for sure if that's the case But it's certainly worth considering and Then as far as when he wrote here that The primary drivers of xrp's price have Almost nothing to do with any factors Specific to the xrp ecosystem I I think That's Fair so here's the way that I've been Looking at it for years you guys tell me What you think about this but to me it
Just seems obvious that the asset class Moves in tandem if bitcoin's going up Probably you know zoom out on a chart It's going to look like xrp is moving up At a very similar point in time along With every other crypto Under the Sun so That's not because of xrp specifically It's just doing that so that's the most Important driver is Broad crypto Adoption so I do I do think that's Accurate uh but I I'd like to add Something to that which I do think is of Substantial importance just just to note Xrp has always been in the top 10 Cryptos by market cap and that's because There are enough people even if it's not Most people there are enough people that Recognize xrp's genuine usefulness and Utility and that's y xrp has always been The top 10 cryptos by market cap which Is exceedingly rare so yes the real World utility is a driver of xrp's Actual price but the biggest driver I Think David Schwarz is hitting the nail On the head it it just is the market Moves in Tandem um and So then somebody in the xrp community Wrote to David Schwarz and and because Again you know David George is saying Well you know what else could we do what Are we going to do like the giveaways Didn't work out obviously because once It's got an open market price you're
Just going to Crater the price so what What's the what's the option then and so Then an xrp Community member suggests a Burn this guy wrote a burn question mark How about burn unused escrow every month Instead of locking it back up it's Released anyway so no votes needed and Then David Schwarz wrote in response to That if you're thinking that will have Some positive impact on the price I Don't think there's any reason to Believe that Stellar's burn had no real Effect and XR P's price tracked xlm Through their burn so what would the Benefit of be of uh of doing that be Okay so I have a couple thoughts on this And first of all I'm assuming that many Of you are aware that uh Stellar they Did burn a bunch of their Xlm and um I can't how many years ago Was that it's been a while now right um That didn't really do anything to help The price of xlm now this really Shouldn't be Surprising so there is there is a little Bit more to it that I'd like to add that David Schwarz didn't mention here but You know if you're talking about Xlm that wasn't available on Exchange Getting rid of get getting rid of xlm That wasn't in circulation in the first Place isn't going to have an impact on The supply and demand dynamics of xlm so That should be obvious of course it's
Not going to move the price other than The news breaking if there's some sort Of josell that they there may have I Actually don't recall because it's been So many years at this point that that's All You' get though if there's some sort Of excitement and frenzy that's it it Doesn't change the supply and demand Dynamics because again burn all you want If it wasn't there in the first place of Course it doesn't impact it but it is Also fair to note and this would be true For xrp if you burn a bunch of xrp right Now although the same would be true now If you burn a bunch of xrp and you know Fine maybe headlines get people excited Maybe the price goes up maybe it doesn't It's possible but that would just be Excitement it wouldn't change the supply And demand Dynamics because Ripple's Esro xrp already isn't available so if You get rid of xrp that today isn't Available it does nothing to change the Bidding process on exchanges the world Over it literally changes nothing what It would change though and this is fair To note and I've mentioned this many Times before is if you understand that That would make it so that that xrp Never sees the L of day because it's Literally burnt well that's different Than it being distributed over a span of Decades so even though it's true that Ripple selling the their xrp doesn't in
Any sort of like noticeable way move the Price of xrp because it's a fraction of A percent in terms of Global volume over Any quarter that's been been tracked uh That that is true that that's absolutely True so still I acknowledge for sure if That xrp doesn't make it out into the Wild over the span of the next couple Two three decades whatever it might take For them to to sell the vast majority of It well of course if you look a couple Decades out that would be there'd be a Way different price for xrp I'm just Saying that the price of Xrp is not what it is because of Ripple Quote unquote dumping that absolutely is Not true because there are Cryptocurrencies that have way greater Inflation rates as I've been Highlighting recently that have Absolutely been rocking it off so the Real reason xrp price isn't higher than It is is because there isn't enough Demand to make it higher than what it is Right now but it's but still even saying That that's not a crap on xrp xrp is one Of the most successful uh Cryptocurrencies in history it's been The most demanded which is why it's Number six in market cap up to this Point so even if you want more Demand Right now and in the short term been More demand for other cryptocurrencies Resulting in Greater multiplier effect
So what then we just get into this whole Argument about you being upset because Xrp isn't going when you want it to like A little child or a little baby that Doesn't make any damn Sense Um so then there was also this David Schwarz wrote I marked here I'll make This full screen for those of you that Care to look it's a it's a a chart of Xrp and xlm uh overlay David Schwarz Wrote I marked in yellow on the first Chart where Stellar burned something Like 53% of their supply the second Chart shows a year of xrp versus Xlm somewhere in there Stellar burned 53% of their supply can you find any Anomaly anywhere in the chart and okay Of course this should not be Surprising they burned 53% of their Supply and the price for XM didn't move Because it didn't change the supply and Demand Dynamics it wasn't available on The market and then you got rid of Something that wasn't available of Course nothing changed people are Surprised by this how how is anyone Surprised by this it's crazy and here's The second chart that he shared you can Pause it here if you want to read it but I'm going to keep moving moving on here Um and then David Schwarz wrote because Somebody asked why did xrp track xlm Price and you could word it the other
Way too you could say why does xlm track Xrp price but David Schwarz wrote The Following I can't prove that there's any Particular explanation but I think it's Because the primary drivers of the price Of xrp come from factors external to the Xrp ecosystem in common to xrp and xlm I'll give two alternative explanations That I don't believe are correct but That you may want to consider number one Xrp is bigger than xlm and the market Considers them somewhat comparable so Xrp drags xlm around somehow or number Two some person or conspiracy of people Are manipulating xrp Andor xlm price to Make them track each other yeah so um he Says he's not convinced that either of Those are correct um I'm particularly Not convinced that the second one is is Correct But I I don't know I I just I haven't Seen a lot of great explanations or Theories as to why there is this Correlation other than for some reason Market participants uh do view them very Similarly because from a technological Perspective they're very Samsy still very different ecosystems People building different stuff on these Blockchains but I I I don't have a after All these years I still don't have a Better answer that like the the Market's Doing what it's doing for a reason but It's still weird too because you could I
Mean like I've seen the argument also That well it's the same people holding Xrp that are holding xlm so I mean you'd Expect them to tream well well are you Sure though because there's been some Very xrp specific news as it pertains to The secv Ripple lawsuit and still There's this correl I just I don't get It it is what it is I look I yield to you the floor feel Free to hop on down in the comment Sections and tell me what you think Actually makes s here and why this is Happening I'm still Not maybe we'll never know for sure Because maybe there is no great way to Actually know for sure but clearly There's something to this idea that They're being trated the same at least Because one is a clone of the other that Seems pretty reasonable at this point Anyway I'm not a financial adviser you Should not by yourself anything because Of anything I say or right that would be A very very very bad idea until next Time to the Moon Lambo
