XRP on the Silver Screen
There's news around regarding the soon-to-be-released documentary of Ripple and its native token, XRP. Dropping this November across major streaming platforms, "XRP Unleashed" will no doubt shine a light on one of the most mysterious cryptocurrencies of our time.
I've slightly followed the crypto space for some time, but wonder now whether this film will do anything to move the needle for XRP or if it's just another way to try to make money from hype. Frankly, crypto documentaries will not bring anything new. We have seen tons of them come and go, making various impacts on their subjects.
The timing is the killer feature of "XRP Unleashed".
It's a wild time in the crypto space right now. XRP found itself at the center of some rather stormy legal drama over the past months. Now that there is an official ruling in favor of Ripple over the SEC, it has left a growing sense that XRP might just be on the brink of yet another big moment.
But will a documentary turn anyone's mind about XRP?
Crypto enthusiasts are a pretty opinionated lot. Those who love XRP will likely gobble it up, and those who don't are probably going to dismiss it as propaganda.
I'm a bit disappointed as well to hear that Ripple's top brass, including CEO Brad Garlinghouse, would have nothing to do with the film. Their absence may leave some really big questions unanswered and, at the same time, undermine the weight of the documentary.
On the other hand, this might provide a more balanced view of XRP and its ecosystem. Lacking refined control from Ripple, filmmakers would be able to unabashedly investigate some of the more contentious issues surrounding the history or current status of XRP in the world of cryptocurrencies.
What caught my attention was the means of distribution.
Of course, there are Amazon and Apple TV, those are solid choices. I mean, not that Netflix is in the mix, per se. I heard some rumors were flying around in terms of a Netflix release, but those were proven to be false. That would leave a big mystery related to the production budget.
About the impact on the price of XRP, I am quite pessimistic.
Sure, a lot of speculation has been going on around statements claiming this documentary could be released by the tail end of a bull run in XRP. Realistically, the crypto markets are affected by so many parameters that it would be rather overly ambitious to attribute any sort of price movement to just one event, let alone something like a documentary coming out.
Having said that, I wouldn't discount some short-term price action around the release date. Crypto markets have a propensity to act very reactively on news and events that usually have little impact in the long term.
Some Benefits Here:
More generally, I believe the real value of "XRP Unleashed" goes beyond simply the task of helping more people learn about cryptocurrency in the general sense and XRP specifically. Properly done, it will take some very difficult questions about digital assets and blockchain technology and help stop them from being so mysterious.
For XRP holders and Ripple zealots, this documentary may work as a great rallying point. It could further fortify a strong belief in the project and thus build valuable interest attracting more investments by those they reveal to.
The Negative:
But those very same subjects could equally well-become triggers for those hostile to the XRP, and Ripple is inclined to brand the film as a damaging source of ammunition. One particularly hot debate subject, for instance, will be the status as a security.
In the end, the worth of "XRP Unleashed" will probably come down to how it is executed. If it does deliver a compelling, balanced, and informative look into XRP, it could become an increasingly meaningful portion of the relevant media type.
In the meantime, I would urge against making any decision to invest based exclusively on the hype of this documentary. As is generally the case in the crypto world, be sure to research it yourself and make decisions based on a multitude of factors.
Posted Using InLeo Alpha