XRP: Today Was CRAZY – But Hey, It's CRYPTO After All! JUST WAIT TIL THE GRAND FINALE
Lambo channel. Well, today was a crazy day in crypto wasnt. It uh yeah talk about insane volatility and prompted in this case by some serious fake news that caught the attention of uh pretty much crypto markets globally. It had to do with – and many of you may have heard about this about it at this point, but i i still have to talk about this at least a little bit um the fake stories of walmart, utilizing litecoin uh, no, its its, not a real thing, But damn we had some price pump for uh for for litecoin uh, which didnt last long lets go ahead and just recognize that. But i will say this too. If, if youre wondering, if xrp is going to be a wonder, if youre wondering, if xrp will eventually go, nuts will go parabolic, the answer is it will? The answer is yes thats, my personal, humble opinion and im going to explain why? I firmly believe that, and also i want to propose that we uh we do a little case study as as time unfolds and and just look ive been highlighting on this channel for comparative purposes. Uh whats been happening. Uh surrounding the price action of a cryptocurrency called hbar ive been highlighting how there have been all sorts of freaked out emotional people treating it and responding to it. The same as youve seen people respond to xrp. Oh my gosh xrps not moving its its so low.
My gosh, all these other coins are going that the same type of crap but but im illustrating that it happens frankly, in probably just about every coin, because any coin that you dont own, if it goes up and whatever you hold isnt going, then this is what Humans, do they start questioning? Oh my gosh. Have i made the right choice but thats not how this works. The whole market moves in tandem, so the question should be more like. Did you buy a cryptocurrency? Oh, the answer is yes then. Yes, it goes up. Thats. Pretty much it, and so i want to use hbar to illustrate this because um well ill explain as we get into the video actually, but before i go further um. 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 that i say are right im just an enthusiast who enjoys making youtube videos about crypto related stuff, but purely as a hobby just for fun. I dont want anyone to think im someone or something that im not just a simple little moon lambo here, as i record this extra piece at 1.8 since bitcoins at thousand one hundred. Ninety eight dollars market cap for the asset class right at 2.1 trillion and bitcoin dominance at 40.49 percent and um. Actually, before i show you, the price action of litecoin on a chart which i will do lets just go ahead and jump into this – make sure everybodys caught up to speed, because this is rather comical.
Uh heres the headline from you today and this is covered by uh, well pretty much. Every single crypto media outlet on the planet and all sorts of mainstream media outlets as well, but heres. The headline litecoin creator addresses walmart controversy. Litecoin creator, charlie lee, told the wall street journal that the litecoin foundation, social media manager had thought that the news about walmart accepting the altcoin was real and so thats. What this was all about. Uh theres fake news from a particular website and nobody vetted it and then reputable or at least what we thought were reputable sources. Mainstream media sources picked up the story, took it as gospel and then started running with it and then and then it just got worse, because the guys youll see here that was running litecoins uh social media account uh. He got tricked. This is insane. This is absolute insanity here, um. So anyway, the social litecoin foundation, social media manager, thought that the news about walmart accepting the altcoin was real and heres a quote. It was wrong to retweet it. We deleted it quickly afterwards, but the damage was done. End quote: the non profit organization has also clarified that it hasnt entered into a partnership with walmart uh. This is in line with a statement that was issued by a spokesperson of the retail giant earlier today, yeah so its exactly a big nothing, but you had cnbc reporting this. You had reuters reported on this all sorts of other big names too, and it was all because of a the story from globe newswire, which was just completely fabricated, and so you got ta wonder like which reputable news source, like these big names, like reuters and cnbc, Who covered it first and why did they think that it was okay to not vet the source and make sure that this was actually true isnt? That kind of a bigger deal, because i can understand how anybody reading this would just take.
I mean because look those sources they are perceived as reputable, and then you had the litecoin foundation itself. They tweeted out uh that that they had entered this uh that they had into this because again, like the social media manager, guy uh hes like oh, i missed this major news. I guess, and then he tweeted it out from that official account, and so of course everybody thought that it was real, but damn like what what a complete failure of media that is astonishing here and uh, and so youve got this heres heres the actual chart. This is uh from somebody named dark on twitter. This. This shows the pump of litecoin today where it went up and then immediately back down and then sideways back to where it was effectively and so its funny, because it basically made the shape of the letter. L and then they wrote here uh, i t e c o i and spelling out litecoin. So if youre looking at your screen, you can see what im talking about. I got a. I got a two to three chuckle situation. Out of that, so i thought id share it with you and then anthony pompliano uh wrote the following on this topic. Everyone is yelling and screaming about regulating the crypto industry. After this mornings, fake press release, the doj will look for the people responsible, but we should have a conversation about who is regulating the media for not doing their diligence before publishing, right, yeah thats a conversation worth having.
They should have been more diligent and then somebody below you can see on the screen here wrote that this is a ridiculous take because even the litecoin, the verified litecoin account tweeted it out, but no, no, no, the verified litecoin account tweeted out as a result of Mainstream media uh reporting that it was true, so i mean its a failure. All around like, like the litecoin account that the guy, the social media guy should have maybe talked to somebody just verified it before doing it. Of course yeah, so thats, a failure too, but still this is the bigger picture, is about media in general. Here, oh and by the way i meant to mention this too, before moving forward the crypto fear and eat greeting index, you might be wondering how are the lemmings feeling today theyre fearful the lemmings out? There are very fearful at 30 out of 100 on the crypto fear and greed index uh, because the emotions reasons its just completely absurd and ridiculous as im going to continue illustrating on this channel. Um, oh and by the way worth mentioning this as well. Michael saylor, founder and ceo of microstrategy, they have purchased an additional 5050 bitcoins for 242.9 million dollars in cash at an average price of forty eight thousand, ninety nine dollars per bitcoin, and so as of uh uh september 12th, uh theyre handling 114 042 bitcoins uh for 3.16 billion dollars and their average price is twenty seven thousand seven hundred thirteen dollars per bitcoin so mark my words here.
Either micro strategy is going to become one of the well or maybe just about the wealthiest company on the planet. If you fast forward like 10 years well, well see there could be other cryptocurrencies that go bonkers like including xrp, because ripple can be one of the most viable companies too, but uh microstrategy could be way way way up there. Being this early in the game, assuming bitcoin does indeed continue to be adopted for the long haul and if theyre wrong, uh well at least theyre. They have a profitable business model, so theyll lose everything invested in bitcoin, but their business seems to be a solid and legitimate business. So theyre probably still not going to go away, but uh they could be just just. They could have more money than god effectively, which also you know like ive, said before too, as it pertains to ripple and xrp it could. It could certainly be true of ripple youre talking about like a another trillion or multi trillion dollar company, its not outside the realm of possibility. Okay, so now lets talk about xrp and lets talk about hbar. Can we do this? Yes, we can because its my channel, damn it not do what i want, and so there is a tweet from somebody named rob who wrote i like how hbar might hit a new all time high today, yet you dont see a single influencer with 200 000 plus Followers on twitter, hes, referencing, outside of credible crypto talking about it, makes no sense to me yeah, not not horrendously surprising, so hbar it hit its all time high.
I guess it was what in may or was it march i cant remember now. I guess it was march yeah, um time flies by guys, so in march, hbr hit its all time, high of 45.7 cents here and at the time im recording this its at 42 cents. Its 24 hour high, which it hit just a little bit ago, was 44.3 cents, its its like right up there just knocking on that. All time highs door, not quite there. Yet, though, and its been volatile, its been as low as 37 cents within the last 24 hours, but nobodys paying attention to this, so when are people going to pay attention? This is why i said its like. We should use this effectively as a case study and, and the reason im saying this in part, is because um, i suspect that youre going to see hbar pop off parabolically before xrp and the reason i say that is not because im so confident that in in Hbar that its going to do that, its really more so that xrp historically has legged behind everything else. It just pops off at the tail end of the market. So if i had to guess – and i dont know this to be the case – i dont know for sure of course, i dont im – not pretending i do. But if i had to guess, i would think that xrp is going to be more likely to pop off towards the tail end of the market, which im perfectly fine with because ill have an idea.
Ill have a better idea of how high it might be reasonable to expect xrp will go in terms of price action, seeing how high other cryptocurrencies went before it, including uh, bitcoin and ethereum, for example, but um, but but hbar here, ive been highlighting in recent days And this is the reason why, like people are responding emotionally in the same way that they respond to xrp, so dont feel like its just you like, when you see all these other coins going off, if youre holding xrp it doesnt mean that xrp will never have Its day in the sun, but this is just how people respond. This is this is how people feel its emotions and emotions are stupid, which is why i just dont, have them and and so credible crypto retweeted, that from rob uh, noting again that that tweet, noting that uh people arent really paying attention to uh to hp. Right now, the re, by the way, the reason people arent paying attention to hbar right now is because until it starts running up parabolically its not validated people, dont dont buy cryptocurrencies when theyre cheap. By and large i mean i do – maybe you do listening to this. Maybe youre more savvy youre in the know, if youre the type to like research, you know, but a lot of people dont know what the hell that theyre doing and so credible crypto wrote everyones sleeping on hbar. Maybe theyll start talking about it when we hit one dollar plus and then somebody named crypto sam had a funny response to that and wrote.
You can lead a horse to water, but you cant make it by hbar until its above one dollar and so look heres. What im going to illustrate, because i i feel strongly this is going to happen and look. I dont know that its its going to have its parabolic rally right when it hits it breaks through its previous all time, high for march im, not saying that necessarily i mean it could be the case, but i am suspecting its a four fun guess that uh Hbars gon na at some point go parabolic before xrp thats, my bet and im going to be highlighting just how people werent paying attention to it, just how almost nobody wanted to buy it when it was cheap, like it is right now, uh and just like nobody Wanted to buy it when what a month or or so ago, when it was down to 16 cents, nobody wanted to buy it because its scary and its going down what if it goes lower. This is how humans behave and its stupid. It doesnt make any damn sense. The whole were in a bull market, everything moves up together, and so what im gon na do when this happens, when this damn thing pops im gon na, highlight and say see, this is this is what i was talking about. Xrp comes after and thats what i suspect will happen. I could be wrong fine, but thats what i suspect, what will will occur but see to me its good to be aware of this, be aware of these individual instances where this happens and specifically call individual cryptocurrencies.
Like this out as examples because its getting called up for the same stuff, oh my gosh, uh hbars, not getting used for anything theres, no utility blah blah blah and its, which is made up stuff like hbar doesnt, have to be used to use cedar its a Bunch of nonsense, stuff and its never going to break a dollar. I dont buy any of that crap its just a bunch of fud and people that that are emotionally sane, whatever the hell is up in their noggin, its its its, not credible stuff but thats. What theyre saying, and so once this damn thing actually does take off im going to say look. This is how humans behave. Look at the silly humans. Look at the lemmings, they didnt want it. One was they did not want it when it was cheap, but now that it costs more its validated now everybodys talking about it. Everybody wants it and its going to continue to move to the upside, its, not even about fundamentals, and so take a look at this. Somebody named uh nmk had a a thoughtful question on this very topic actually and asked credible crypto the following about hbar, hey, cred, hey, credible, crypto, honest question: you dont have at least a slightest doubt that yeah, maybe hbar, is one of the best projects out there, But maybe not necessarily, this will be reflected in price action because of the stupid crypto space nature question mark which, by the way, is a totally legitimate question and uh incredible crypto responded and in line with what i was thinking and he wrote nope people dont care.
What a coin does once they see a few massive green candles, they fall in love with it, well get that on hbar soon, and then it will take care of itself, and so this is the point that i wanted to make. This is true of xrp as well to anybody out there thats afraid that the sec action is going to prevent xrp from prevent from participating in this market cycle. I say no, i think youre youre mistaken on that point, about 95 of trading occurs outside of the united states anyway, and once money flows in uh its its just going to be follow the leader, its just lemmings, its just limits, one after another file, a filing Thats, exactly whats going to occur its not about fundamentals, which is why what hes saying here about hbar. I believe that thats likely to be correct, thats, my personal opinion well see if that ends up being the case uh. I suspect that it is. I think that that will be true of xrp and uh the vast majority of every cryptocurrency on the planet, which is why last market cycle you saw that every single parabolic chart i mean it, looked exactly the same one chart to the next. You couldnt even tell them apart. If i took away the actual numbers and the title of the chart, you would not be able to tell which cryptocurrency was which bitcoin ethereum xrp you wouldnt know they all look the same.
It wasnt about fundamentals, its money, cycling through the cryptosphere that is still happening. Humans are not more sophisticated than a few years ago. They have not figured out which cryptocurrencies deserve to be here. They are not sufficiently betting with their dollars, based on fundamentals, thats. What im saying so yeah im with credible krypton? This is totally a legit question to ask but yeah im with credible crypto on this its its coming and it is for xrp as well. Uh heres a tweet from chart analyst michael vandepopp today was a day of volatility, but overall not much has changed in the markets. Altcoins are continuing their momentum, especially layer. One protocols conclusion dont get emotional from some short term volatility caused by fake news. Zoom out. I thought that was a really good tweet, so i want to share it and then theres this one bitcoin. This is also from michael van de pop bitcoin exchange. Reserves are getting to very low levels, thats a signal that weve got more and more holders. The inevitable is still about to happen. Heavy supply shock upwards in which well get a big run to higher numbers. So look, what were talking about here is theres less bitcoin on exchange now than there was uh. You know a couple months or so ago. Uh its been taken off, there are people that have been buying the dips, the buying the lows and, and so as a result as more new people come in, they have to fight over less bitcoin and you understand how supply and demand works.
So i dont have to explain that to you more people fighting over less available bitcoin make price, go up right, so thats what were working with here, bitcoins leading the market it will for the duration of this market cycle, if not throughout the next market cycle too. Maybe it always will i dont know for sure, but it is right now and we want to see that as it goes up, money will ultimately cycle into everything else. So this is absolutely fantastic, but im just im just im, just sharing with you the data that is out there its publicly available just make yourself aware of this, like the best days, are yet ahead this this market cycle, my gosh, its the biggest fireworks, are coming. I dont know if itll be a few months or half a year or whatever, but were at the tail end of this market cycle, which is why i started the video by saying hey if youre wondering, if xrp is going to go nuts, if its going to Go parabolic as far as im concerned. The answer is a definitive yes close to 100 as far as im concerned, but again ill go and wrap up here. But i am not a financial advisor. You should not buy or sell anything because of anything that i say are right.