hey everyone welcome back to the crypto ZX Channel you guys know what time it is we're going to be having a discussion around xrp we're really going to put our thinking hats on and really start to see whether or not you know the announcements that are coming out such as you know grayscale coming in you know reann ancing its trust you know grayscale trust which is a huge step towards a potential ETF and on top of that you know the developments that are coming out could this really mean that there is something that is going behind the scenes because as far as the price goes you know we've been talking about the price on the channel that you know it's holding much better than the broader Market of course you know a lot of people fail to understand that because you know people want to see price explosions in order for them to understand whether or not the price is holding much better but if you look at it from the technicality side point um you know it was holding much better from the broader market and of course you know shortly after that we did hear you know grayscale come and announce the grayscale trust for xrp which of course had a beautiful impact on the price of about 8% but what I really want to share with you guys is an article and um you know some statements that you know Stuart said um just a few months ago I would say almost one and a half month ago and when I really went across that kind of was thinking from a different point of view and kind of seeing what's happening now so could there really be a correlation and I'm going to share that with you guys do let me know in the comments if you agree with that or not but before we do that let's quickly take a look at how xrp is maintaining its price so still around 58.7% um you know we're up about 0.8% over the past 24 hours in USD and Bitcoin comparative uh we did see us almost retesting 60 cents but of course dominance went up towards a new yearly high that can be uh you know obviously a correlation uh player in terms of you the price of xrp seeing a little bit of a minor pullback but anyhow looking at the market cap 33.1 billion and the 24hour trading volume is at about 1.1 billion uh which is of course really nice to see but um let's take a look at what I want to share with you guys but before I do that as always just a quick disclaimer anything on this channel is not Financial advice always do your own due diligence and research when you are investing in crypto and I want to share this with you guys first so the buildin layer one features of The xrp Ledger makes xrpl one of the big smart contract if you want to swap assets with the automated Market maker you send your assets Through The xrp Ledger and you get back the assets you wanted to swap for very very interesting but let's move forward and I'm going to share you know what I found and really want to know what you guys think so you know pause the video at the end and let me know what you think so you can see Ripple is confident US Banks and other financial institutions in the country will start showing interest in adopting xrp in the crossb payments after a landmark ruling determined the token was not itself necessarily a security and again you know this is when it originally happened um but with that said the main main story is this Ripple is confident US Banks and other financial institutions in the country will start showing interest if you're looking outside of the US let's actually pause here let's look in Europe mostly and Asia what's happening they are showing massive massive interest towards the xrpl Ledger they understand you know the magnitude of it um and of course you know people are starting to accept and what I mean by people you know these massive entities that are you know used to the old ways of doing business they're starting to understand you know that things are changing you know the way we do business everything is changing now and you new technology is coming and you are seeing you know the countries like I said you know Europe specifically and Asia you know really showing a lot of interest towards um you know Ripple especially I'm sorry xrpl ledger so you can see the San Francisco based firm expects to start talk with American Financial firms about using its OnDemand liquidity product which uses xrp for money transfers in the third quarter St said um that is absolutely insane and again we're coming up to an end for quarter 3 isn't this insane going into quarter 4 so are these talks already happening behind the scenes um are there insiders that know something and the reason as to why xrp has been holding so much better because remember we saw Bitcoin going down to 52,700 and you could literally go watch any of my updates around that price point I did say extrap is holding much better than the broader market and I think there is uh you know some correlation there uh but let's continue to take a look at uh what um you know I found so you could see um you know Ripple's business suffered a result with company losing at least one customer and investor which was Money Gram the US money transfer giant ditched its partnership with ripple in March 2021 and we know about this remember this um you know Money Gram when they originally came and partnered with ripple it was the most exciting news but that was pretty much it you know in terms of like Giants and of course some people are going to come out and say um you know SBI has been working with ripple for quite some time we're talking us spased right and um there are some banks that have um you know looked into um Ripple you know before you know this lawsuit has been happen but pretty much since the lawsuit started all lot of exchange not just exchanges where you buy and sell you know crypto assets but you know Partners as well actually backed out because there are um you know not feeling confident and that speaks for itself so I think you know Money Gram um you know backed out due to so much uncertainty that you know xrp really had for itself uh but you know let me know in the comments what you personally think What If Money grams and again I'm just speculating but what if money gram comes back and rep partners with ripple now uh but you know because you're starting to see a little bit of a shift sh happening and I think the shift means something bigger than expected but again maybe we're just completely speculating right now um but at the end of the day obviously time is a huge factor that tells us something but do let me know in the comments what you personally think and this is what Stu has to say I think we're hopeful that this decision would give financial institutions customers or potential customer Comfort to at least come in and start having the conversation about what problems they're experiencing in their businesses real world problems in terms of moving value across borders without incing crazy fees and this is of course you know the conversation that has been taking place and you could literally go speak to a lot of business and I'm talking majority of you know business owners that you know do send wires across the board uh I'm sorry across the globe and come up with a lot of difficulties regarding you know massive fees that they have to pay you know settlement time you know um it just takes forever this is where new technology such as you know the uh Ripple uh platform comes and changes the entire game and then you can see hopefully this quarter will generate a lot of conversations in the US with customers and hopefully some of these conversations will actually turn into real business very interesting and you know what the most interesting thing about this is the fact that we're literally closing out quarter 3 so did they have these discussions I personally think there is a lot of information that we do not know that is not being shed uh but the next I could say two to three weeks very very critical of course uh you know obviously that appeal phase is still there but we're getting closer and closer and but you know we do not want to get super excited right now because you know SEC can literally come and appeal on the last day literally on the last day so we need to still be a little uh bit uh just realistically thinking before getting excited but as far as Bitcoin dominance goes you know dominance is pretty much sitting at new yearly highs Bitcoin did make its way back above 60k so that's great to see as far as xrp's price is concerned you can see xrp um you know has been holding above that key support and actually we did see uh daily candle close above that key resistance absolutely amazing to see um obviously it's not going to just happen in a snap you know that we're going to see the price going into the 78.6 unless of course you know we don't hear an appeal and it's done for for good I think that could have a really good impact on the price look what happened last year on July boom it was absolutely insane to see that and honestly we could see some crazy price actions like that happening because of course the money that is on the sideline right now for xrp will um you know enter in my opinion if that were to be cleared but again we're going to take it one step at a time obviously let me know in the comments what you personally think about this love each and every one of you guys we'll see you tomorrow in crypto ZX and peace out