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Hey [clears throat] guys and welcome to the working money channel. This video includes paid promotion. Well guys, the data never lies. This is courtesy of charterd here and uh we are entering June. XRP in June of 2014 went down 17%. So we're looking at barriers here. Uh in 2018 it was down 39%. In 2022 it was down 32%.
Now we are entering June 2026. So, what is XRP's fate? I don't know. It's a midterm year and uh I think Chart Nerd is on the right path. You can see uh here on the Bitcoin chart. We are witnessing another downturn for Bitcoin today. Uh this is the daily. I'm just going to throw that on the hourly. You guys can see over the last several hours here, Bitcoin has uh moved down significantly.
It is testing these uh these wicks now. So, these levels in here, 72,300 is uh the next I guess localized level of support for Bitcoin. Currently, we're seeing uh one Bitcoin right now going for about 72,000 almost 72,600 per coin, but I don't think it's uh I don't think it's on its way up. I think we're going to continue to see lower lows.
I mean, you guys know I am uh still bearish here. And uh it's not a bad thing, guys. It really is. And it's a good opportunity to cost average down if you guys did buy cryptocurrency at higher prices. Um, same for your XRP. I mean, if you swapped your XRP for XLM, that's another story. Has XLM gone higher at all today?
Not really. It's just kind of stalling in here. Uh, so this is the XLM chart. You guys can see volume is dying down for XLM. And I'm still of the opinion that we are going to see XLM come back down to these levels. um even if it's not right back down to these levels, maybe down here to these levels of resistance that we witnessed back over the last few months.
So, we're going to have to keep an eye on XLM. What about XRP? Well, XRP is following Bitcoin, uh holding up right now at A130 per XRP, but um you know, it's still in this zone here where we are well essentially just waiting for a new low to be formed. My opinion and just my opinion only. The big question, guys, then becomes how low is this trend going to go?
How much further does Bitcoin have to go down before we can uh before we can truly say this is the bottom? Uh I've got my thoughts. I did address some of those thoughts at the live Q&A session that I held for the Patreon subscribers. Uh so if you're a Patreon subscriber, you can watch that on a replay.
I thought we had a pretty good session yesterday. I mean, I always have fun when you guys come out and participate in the live Q&A sessions. Just going to interrupt this video for a second. Here's a word from one of today's video sponsors. Guys, I want to briefly talk about a long-running partner of mine, Fortis X.
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Remember guys, investing is inherently risky. Always diversify your investments. This is not financial advice. We got Fear and Greed still at 33. Market cap is down. So now we're actually below 2.5. We're at 2.4. 46 trillion. That's down about 1.38%. And uh guys, a lot of red being printed on the chart.
So, all altcoins following Bitcoin. There are some anomalies here like XLM. Of course, XLM is still up over 7% in the last 24 hours. So, are we going to see a wild ride in June? Are we going to continue to see lower lows? These are all very good questions. Um so you know if we do like like he said here like Chartner did say here back in 2022 June did see this decline and that's actually uh you know for a lot in a lot of cases that's where we saw altcoins form their lows in 2018 it was the same thing.
Um I don't know why this does this but uh for whatever reason I'm not getting the full um the full history here on the chart. Uh let me just go back here. Yeah I don't know why it's doing this. Let's just bring up the XRP chart and uh XRP we are seeing the full history here but uh okay so I'll look at the XRP chart um in 2018 in June we did see that same trajectory to the downside this was the beginning of June and this right right around here uh this was the end of June going into the summer so summer did see boom capitulation boom double bounce found that support in there before we uh started ed our way back up in September.
So, June is going to be interesting. The other thing that happened today on the 1st of June, if you guys are watching this video on the day that I'm releasing it, we did see that XRP being released from escrow, the monthly scheduled release. And I know some people are probably um going to blame the downturn in XRP price on the escrow release, guys.
It happens every single month. So, uh if you are to believe that, then you are to believe that on the first of every month, XRP is going to go down based on that reason. So you can see the escrow did release 1 billion XRP in three separate transactions and that was valued at about $1.33 billion. Uh enterprise blockchain firm Ripple has conducted yet another scheduled escrow release according to an onchain sleuth whale alert.
I don't know if it's so sleuthy at this point. The total unlock was executed across three separate transactions. The largest transaction being 500 million XRP, the second being 400 million and the final one being 100 million XRP. Uh the remaining escrow, so the XRP ledger is a strict maximum supply of exactly 1 billion tokens as you guys know.
Um and as of now, Ripple has locked escrow balance of roughly 38.13 billion XRP tokens. So that is what is remaining. Feels like it's been forever. It's definitely been over uh it's about 6 7 years, 8 years maybe since uh there maybe nine years since they've started releasing from escrow. Guys, I happen to see this from DJ Petervas as well.
We did recently get news that there was a Moscow cryptocurrency exchange that just listed XRP a few weeks ago. Well, now Russian investors are accumulating after XRP officially hit the exchange. So, the Moscow exchange, I guess that's what it's called. Russia's largest security exchange launched its XRP index a couple of weeks ago now and uh now we're seeing Russian investors clamoring for XRP.
It's giving over 62,000 qualified Russian investors regulated XRP access for the first time. XRP wallets holding 10,000 or more tokens hit an all-time high of 332,230 in midMay and wallets holding 10 million or more are now controlled at around 68.5%. So this is uh the highest concentration since 2018.
The accumulation is happening with XRP roughly 64% below the peak of uh when we did see its high in 2025. And XRP linked funds are pulling in capital while Bitcoin and Ethereum ETFs bleed millions. Uh the analyst who called Nvidia in 2010 just named this the top AI stocks while Bitcoin and Ethereum ETFs continue to bleed.
So guys, we're seeing more uh Russian investors, more uh world money, global money, global money supply moving into the XRP cryptocurrency. This is uh now I get the feeling that the uh the kind of accumulation that we're seeing now from all these institutional players when we do see these astronomical numbers like um you know we're seeing here uh wallets holding over 10 million tokens are surging to an all-time high.
That is institutional money coming in. Um the institutional money though still waiting for the clarity. SEC chairman Paul Atkins just said the quiet part out loud. This courtesy of bank XRP where lawyers cannot give clients certainty on whether something is legal or not. It does create needless cost.
It's a big impediment for the market. Here's what he had to say. Listen to this. The the president has again he wants uh the United States to be the crypto capital of the world. We're making huge strides I think to do that. But that requires clarity because as you know America is a latigious uh uh society and so uh you know where there's uncertainty and if lawyers cannot give their clients uh certainty with respect to you know is this legal or not and under which uh rulebook do you have to uh take your products to market that creates needless cost and then it it's a big impediment for people to go forward.
So even Paul Atkins is saying here institutions need clarity. We've been talking about this for years now. This is why we're all uh you know fairly fed up maybe a little um apprehensive is not the word. Fed up maybe a little tired of this. I will just say tired of price not moving. Tired of it taking a very long time the molasses so to speak as per bearable guy.
So uh that was Paul Atkins. We also have this from Sentos Sumo Saba. Well, SBI Holdings did just come out with a new press release. They just completed a bank acquisition with a ceremony marking its name, SBI Bank Cambodia. So, a new branch of uh of SBI Bank was just launched, guys. SBI Bank Cambodia.
We know SBI is a big Ripple partner. They're one of the largest and earliest Ripple partners. Well, guys, in Cambodia, SBI Holdings just completed this acquisition. Accordingly, the bank has adopted a new name, SBI Bank Cambodia. Uh so, it was originally called PLC. It was originally established as a micro finance institution and now it looks as though uh they have been acquired by SBI bank.
Its integration into the SBI group's global network as a strategic milestone designed to leverage international resources. This commitment is clearly reflected in our new corporate identity and the adoption of the logo etc etc. This model of global strength and local impact ensures that the business uh operations in Cambodia are backed by strong organizational support.
So just giving us uh the 411 on that. And guys uh if you were wondering yes international money transfers by Ripple are going online with this particular branch of SBI bank. So experience the future. So this is the the press release with regards to uh uh talking about the international money transfers by Ripple.
Experience the future of banking with our international money transfer service from Ripple. Leveraging cutting edge distributed ledger technology. The service enables real-time international trades. So 24/7 and transfers at a lower cost than traditional methods. For more information, you can contact them down here.
Uh some of the features and benefits. So funds settle in seconds instead of days, of course. Uh and recipients can access them almost instantly. The efficiency of blockchain technology significantly reduces transaction costs compared to traditional money transfers. Uh and we have end-to-end visibility into transaction status.
Uh and that allows you to track each step of your transfer. Money transfers with Ripple are designed to be fast and stress-free. You can use our Swift code as well. So you guys can see here they are integrated with Swift. Uh the follow uh follow sorry and follow the steps below to start your international transfer immediately.
So it gives uh users the uh the exact steps you need in order to transfer the money. Uh so guys, great news here for Cambodians. They are spelling it out directly running on Ripplet. Uh so great news there. Wanted to thank Sentos Sumo Saba for posting that Ripple partner Thun is also highlighting crossber payment opportunities in the German remittance market.
According to a recent LinkedIn post from Thun, the company featured in a fireside chat at the 10th embedded finance review in Frankfurt, part of the digital finance accelerator program. The session was led by Thun's VP of sales guys for Europe reportedly did focus on the evolving requirements for crossber payment infrastructure.
The post highlights a need for systems that can translate in real time between legacy banking rails, mobile wallets, and an emerging stable coin ecosystem at scale. So, obviously, they're going to be using DT, distributed ledger technology. The framing uh positions thun's network and technology is potentially aligned with the structural shifts in global payments where interoperability and digital wallets are gaining traction.
As referenced in the post, Thun points to its report titled a 1 billion euro opportunity. Can German banks reclaim the remittance corridor? Uh so this examines an infrastructure gap facing German banks and remittances uh or sorry banks in remittances for investors. This emphasis suggests that thun sees meaningful revenue potential in enabling traditional institutions to capture more value in crossber flows if German banks act on such opportunities.
Thun could benefit from increased adoption of its infrastructure. So guys, thunes is already embedded with ripplet technology and if we do see uh more uh infrastructure develop, if we do see uh more uh banks start using this particular technology, we are going to see eventually more adoption for Ripple's XRP.
Again, the flywheel effect. This is uh one avenue where we're going to see it. So uh great news there for Ripple partner thunes. We also have this guys another clip of yeah Jamie Diamond. Unfortunately, I do think blockchain will replace financial market infrastructure. It is interesting uh what he says here.
This is, I think, a day after that original clip where he said Brian Armstrong was full of it. I'll link uh the video I did on that up here if you guys didn't catch it. Well, here's Jamie Diamond again talking about blockchain infrastructure with regards to the financial markets given the fact that the bank has moved forward with some crypto products uh adopting some aspects of blockchain.
Has your opinion about cryptocurrencies changed? It's not about cryptocurrencies. We you we're one of the biggest use of blockchain. I think blockchains we've been talking about for 15 years. Okay, we're still talking about it. I do think it'll replace financial market infrastructure. We have a JP Morgan deposit coin.
We can already move money 24/7 and but I do think, you know, when when crypto folks point out the weakness of it, they're right. You know, you can a lot of change make it better. Fed wire could be, you know, the Fed wire is five days a week and, you know, 10 hours a day. It could be why not six days a week, 20 hours a day.
And real time payments have a huge benefit for people. All true crossber costs too much and we will be part of fixing that and I'm not that worried about stable coins. I've all I've ever said about that if you have them they should have the same rules and regulations as us. Of course that's what he would think.
Uh I still find it very peculiar maybe not peculiar but really uh shocking actually that JP Morgan is still using the JPM coin for settlement now that we do have uh several other regulated options for uh stable coins. The interesting point he makes here he mentions Fed wire guys running 5 days a week 10 hours a day.
Why not six days and 20 hours a day? Well, for those of you guys who might not remember, uh Fed Wire uses something called Valente Technologies. It's a premier software provider that helps banks modernize their connections to the Fed Wire service, the Federal Reserve's electronic wire transfer network.
Also note down here that it is an ISO 2022 compliance standard where the Federal Reserve migrated Fed Wire to the modern ISO 2022 messaging standard. Valente provided ser uh certified ISO native software enabling banks to comply quickly without disrupting daily operations. It can process high volumes uh through Valent's wire payment service.
Now guys uh with regards to that, I also just wanted to bring up this tweet from Smoke reminding us ISO 2022 is forcing banks to upgrade legacy systems to DT. Now this is from uh over a year ago. Um but just to remind you guys, ISO 2022 is the standard now. It's a good opportunity to force this change.
They said here in this statement, "The biggest challenge for our legacy platforms is that real-time ISO 2022 and DT are all coming at us at the same time. There's no question that banks are being forced to reassess their legacy systems." So, we got Jamie Diamond here uh with a suggestion saying, "What if Fed wire ran more efficiently?
We know that Fed Wire runs on Valente Technologies adopting the ISO 2022 standard. ISO 2022 obviously is now the uh the standard for uh well for bank messaging. And guys, Valente Technologies is a strategic technology partner of Ripple. For those of you guys who may have forgotten, Valente provides cloud-based payment orchestration and financial messaging software.
Their connection revolves around simplifying how global banks and financial institutions integrate with Ripple's payment network. So, uh there's an integration accelerator. Valente was designed as a software module and uses Vulpi which uses the Ripple processor module that acts as a bridge between legacy bank systems and Ripple's distributed ledger technology.
Uh no core system changes. So it does uh just basically plug in. But check this out over here. XRP and liquidity by using Valent's cloudnative platforms. Institutions that connect to established rails like Fed Now or Fed Wire can also natively access Ripple's ecosystem. This opens the door for banks to utilize the cryptocurrency XRP as an optional liquidity and settlement layer for institutional and realtime payments.
So, uh, essentially what JP Morgan is saying or what Jamie Diamond from JP Morgan is saying here, let's run Fed Wire faster, more efficiently, and guys, we're going to eventually see this more XRP therefore will theoretically be utilized if uh if users use those rails and demand will increase eventually at scale.
I know some people are thinking, you know, once we uh start to see real world utility, this thing is going to just pop. I still think we have one spec market in us. Follow me at patreon.com/workingmoney channel if you're interested in seeing where I'm going to be buying the dip, where I'm going to be putting my buy targets and sell targets for a whole bunch of different cryptocurrencies, including Bitcoin, XRP, and others.
The subscription is only $5 a month. You got to subscribe and stay subscribed though to lock into that price. I think we're in for a wild June personally. Tell me what you guys think down in the comments. Uh, also just want to mention that I have the Working Money Channel merch store for those of you guys interested in uh, helping to support the channel by purchasing some Working Money channel merchandise.
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