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Hello everyone and welcome to the best Crypto Channel ever! We are going to try our best to give you the most important news and novelty regarding Crypto!! Please follow us, we will be uploading daily! Subscribe to our channel and do not miss out! Most of the top crypto analysts are warning about XRP and its price. Their prediction is that this coin will drop before price going really high. That is something to be expected soon about this coin. After years and, at least, months of gains and going up the market of cryptocurrency is experiencing some fall. No digital currency is immune to the movements of the market. Like most of the currencies XRP is following the market movements as well, and went down. In all of this bearish market some of the top analysts are seeing a good side. They are analyzing that this bearish market can be good for some of the digital currencies out there. Most of the people are asking what is going on with the bearish market lately, and most of the traders are asking what factors are causing the prices to go down. One of the most important and valuable information now is the price prediction for the very promising cryptocurrencies, like XRP. All of this will be discussed in this video. As we have experienced so far, the cryptocurrency market is highly volatile and lately we saw some of the asset going really down. That was due to a lot of factors, and XRP was not immune to this. Even the “king of crypto” the Bitcoin shown significant drop in value. One of the reasons that cause the drop in Bitcoin and in crypto in general was the announcement of Elon Musk that Tesla is not going to accept Bitcoin anymore. This is a huge news in the crypto market and for sure you can and will expect movements after this kind of decision. Market crash followed Tesla’s announcement and that was something that is quite often in the exchange world. Lots of companies like Tesla, with huge financial influence can and will disturb the market with their decisions. This decision was due to the environmental impact that Bitcoin has with mining. Since Tesla are electric cars it would be ironic if Tesla supports Bitcoin which is not so environmentally friendly. These concerns about energy usage for mining Bitcoin resulted in suspending the possibility to buy Tesla car with Bitcoin. This action and this particular announcement were a huge factor for the market crash.Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emission of any fuel. Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment. Tesla will not be selling any bitcoin and we intend to use it for transactions soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use less than 1 percent Bitcoin’s energy/transaction. These were some of the tweets from the Tesla CEO Elon Musk. The last one, about not selling any Bitcoin, helped Bitcoin to get back on track. But overall there was around 17 percent fall after some of his tweets. In general, most of the currencies crashed after those statements. Of course, the influence of a multi-billionaire cannot be underestimated, especially because he is also investing a lot of money in the crypto market. Recently we saw support for the crypto business from PayPal, Facebook and others. As we know, most of the influential people around the world started to support this kind of payment, since it is not regulated by the banks and works on decentralized system of finance. Some saw this statement of Musk as an attempt to attack the credibility of the crypto and its trust. China bans financial institutions from Cryptocurrencies , Another problem for the crypto market the previous period was the China announcement that they will block initial coin offerings, block exchanges and speculative trading. After that we’ve faced a terrible week for the market. Sure, this is a big hit from the Chinese government and that was felt from almost every cryptocurrency out there. All of them faced fall. Prices were falling the very same moment after the announcement of China. We saw a little bit of recovery the next day, but after a moment one more strike, one more statement from the top Chinese officials. There was a meeting in the Chinese government, and some of those talks were published online. According to some Chinese agency at that meeting was said the following: “We should be more alert and look for potential risks. We should crack down on bitcoin mining and trading activities and prevent individual risks from being passed to the whole society”. According to this decision the financial institutions in China are not going to be able to work in any way with digital currencies. Some are saying that this kind of decision is due to the very unstable crypto market. They are having the opinion that this kind of speculative trading and huge ups and downs can and is disrupting the normal financial market of China and with that the Chinese economy. Before presenting you, the report let me inform you that the report was translated from Chinese vie Google Translate. The report on this said: The price of virtual currency has soared and plummeted, the virtual currency trading speculation has rebounded, which has seriously violated the safety of the people’s property and disrupted the normal economic and financial order. After all of these events we might see some kind of fall of the market since its bullish run that gained almost two trillion market cap. As we said we are investigating all the reasons for XRP Ripple fall down in the previous week. Talking about Ripple we should have in mind their lawsuit with the US Security and Exchange Commission (SEC). This lawsuit is significant price factor about XRP. The respectable New York Times published recently that Ripple got great advocates, lawyers and lobbyist and the new chair on SEC is in favor of crypto in general. What you should know about this lawsuit is that this might come to an end very soon. One of the lawyers said that they are expecting a settlement with SEC in the next couple of weeks. Price prediction for XRP. Like many other Cryptos on the market XRP as well loss some of its value, the price fall as a result of these already mentioned factors. There are possibilities for recovery, but according to the experts it needs to hold on the last week’s low at 82 cents. But if you see that XRP is trading below this level, most of the analysis are saying that the next stop for Ripple will be around 65 cents. This price of 65 cents will be supported from the trendline from January. This is a very safe price margin and it is not so likely that it will go much further down. But if by any chance brake the barrier of 65 cents it will drop a bit lower. But this is not just a case for XRP. We saw 9 percent down for Bitcoin, 11 percent down for the second biggest cryptocurrency, Ethereum. If we don’t see soon rally for XRP that might be concerning. We are expecting a rice on the price level of 1.21 or 1.23 dollars. If this don’t happen, might be a red flag that additional bearish momentum is following on a short term. Top analysists are claiming that XRP will rally up after its drop. Most of the analysts are saying that XRP is finally back towards the three-year broken resistance. What most of the experts are expecting is that XRP is going to hit new lows, it might even set new all-time low with its price. But after testing its new berries it will pup right up. Most of them are suggesting that this might be the right time to buy XRP, since it is going to its lowest dip. Some of the investors are seeing this as a golden chance for their investments. They are all agreed that XRP is not going to be down always and its future plans and projects are going to sky rocket this coin. Some of the plans are going on the line to adaptation from institutions, central banks and commercial banks. One of these agreements was already leaked, but not published yet. There is information that Ripple has an agreement with the largest bank of Egypt. And after the settlement with SEC and resolving that lawsuit might be a huge chance for this cryptocurrency leading the market. Most of the investors are believing that after the end of the lawsuit and possible settlement with SEC there are going to be new highs in the price of XRP. Many economical authorities are saying that XRP might even attack the position of Bitcoin. We are already seeing some recovery of the price of XRP. At the time of writing, according to Coin Market Cap the price of XRP is 1.003 dollars with a 24-hour trading volume of 6.6 billion dollars. XRP is up 5.575% in the last 24 hours. And currently on the coin market cap ranking is on the 6th position. Its market cup is 56.16 billion dollars at the moment and more than 46 billion coins in circulation and a maximum supply of 100 billion coins. We are not a licensed financial advisors. All videos on this channel are intended for entertainment purposes only. You should not buy, sell, trade, or invest in any asset based on what we say in these videos. You should know that investing carries extreme risks. You could lose your entire investment. This is not trading advice, and we are in no way liable for any losses incurred. Thank you for watching our video! Please subscribe to our channel! We wish you a good luck!