The curtains have fallen on Ripple's Swell event in Dubai, and let's just say the hype train might have overshot the station! Expectations were high, but the event concluded with not so much as a ripple, let alone a bang. Attendees, eagerly awaiting earth-shattering announcements, were met with a dose of reality rather than a blockbuster revelation. It's like showing up to a fireworks display only to find out it's sparklers night.
So, what exactly is going on? Could the powers-that-be have whispered into the ears of Ripple's board of directors, possibly suggesting that XRP might be a little too much competition for the good ol' US dollar. Picture a secret meeting in a dimly lit room, with someone nervously sipping coffee saying, "Let's not let XRP steal the show, now."
Remember when XRP was at an all time high of $3.80+? That was before the craven Gary Gensler was directed by his handlers to launch the legal assault on Ripple. Transparently intended to pull the handbrakes on the global serviceability of XRP. Now that there is clarity about the status of the suit and, by extension XRP, why hasn't the price of XRP surged back to, at least, it's all time high?
In short, because if XRP is used widely in cross-border trade, it will result in the collapse of the US dollar. Central banks worldwide currently hold significant reserves in US dollars to facilitate international trade and maintain stability. If XRP gains widespread acceptance as a bridge currency, central banks will, gleefully, reevaluate the composition of their reserves. A reduced demand for US dollars in international transactions could lead to a gradual decrease in US dollar holdings by central banks. In fact, some central banks may, in all probability, simply dump the US dollar. If central banks diversify their reserves away from the US dollar, it will lead to a devaluation, especially if there is a rapid and substantial shift in global trade dynamics. A move away from the US dollar as the dominant global reserve currency will prompt a broader realignment of economic power and influence. Other currencies or assets will gain prominence in global finance, and new economic alliances will form. The economic fallout to the US will be catastrophic. It will impact inflation, interest rates, and the cost of imported goods, amongst other consequences.
So, in the grand finale of this Swell performance, we witnessed not a crescendo, but more of a violin playing hauntingly in the background. There are dark forces conducting this orchestra. Anyone who cannot see this must have blinders on. It's a strategy to keep the US dollar from getting an inferiority complex. In the world of crypto drama, this was the equivalent of a plot twist that left everyone scratching their heads. Will the US Federal Reserve be sending Ripple's board a thank-you card for a job well done? We can only speculate, but for now, the Swell excitement has subsided, leaving us with more questions than answers.
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