Litecoin [LTC/USD] Technical Analysis: Bear market stays clear of finishing line

Litecoin [LTC] is one of the top-10 coins that was most affected by the bear market witnessed by the cryptocurrencies across the board. At press time, it had slumped 14%, trading at a depressed price of $33, with a market cap of $1.9 billion. The 24-hour trading volume was recorded at $618.3 million.
1-hour
LTCUSD 1-hour candlesticks | Souce: tradingview
In this timeline, the trendline is stretching from $48.15 to $42.35 [downward] and the support level is set at $31.45. The trendline is forming a descending triangle with the support line to depict the low nature of the market.
The Parabolic SAR is bearish on the price trend of Litecoin. Furthermore, the dots are aligned above the candlesticks to give a negative outlook on the case.
The Aroon Indicator is showing more strength in the downtrend as of now. The uptrend is weakening more with time and crashing in favor of the downtrend.
The MACD has made a bearish crossover by the signal line to depict a clear sign of the bear’s presence. The reading line is slumping further to confirm the stance.
1-day
LTCUSD 1-day candlesticks | Souce: tradingview
Similar to the above scenario, a downtrend can be observed in the one-day candlesticks as well wherein the trendline extending from $89 to $55 is forming a descending trend with the support set at $35.7. Moreover, an earlier support was set at $51 that was breached multiple times to finally dunk to the current level.
The Bollinger Bands are expanding to broaden the gap for prices to fluctuate. The volatility in the market was not high, but is predicted to increase as the bands diverge from the tunnel pattern.
The Chaikin Money Flow is extremely bearish on LTC at present. This can be observed as the reading line is crashing without any upturns to travel below the 0-line.
The Relative Vigor Index is also in tune with the above indicator to project a negative view on the market. The RVGI has made a bearish crossover by the signal and is traveling below to side with the bear.
Conclusion
In the technical analysis, the majority of indicators are predictive of a bearish run for the cryptocurrency. Therefore, it is a clear sign that the bear market has not ended as of yet. Furthermore, LTC may see a high level of volatility as predicted by the Bollinger Bands.
The post Litecoin [LTC/USD] Technical Analysis: Bear market stays clear of finishing line appeared first on AMBCrypto.
Source: AMB Crypto

UC Berkeley to explore XRP consensus mechanism; receives grant from Ripple’s UBRI

In its recent document announcing the research program focused on Ripple, UC Berkeley has called for proposals, for which the deadline is set to be 30th November. It also acknowledged the grant awarded by Ripple to the institution for the same purpose. The document read:
“Berkeley Haas has been awarded a multi-year, multi-million-dollar grant
from Ripple, a growing company in the emerging blockchain industry, to support research,
courses and student activities in blockchain, cryptocurrency and digital payments”
The document also informed that the fund will be housed in the Institute for Business and Social Impact [IBSI], wherein the funds will further be granted for the following purposes: cryptocurrency and digital payments, blockchain systems, cryptography and related subjects, for instance, blockchain for global financial inclusion and economic development.
In the announcement, the university also provided the aspects that a research proposal topic can include. Under technical topics, one can include efficient scaling solutions for XRP consensus mechanism. Another research topic suggested by UC Berkeley was:
“Evaluate the incentives in emerging blockchain networks (proof-of-work, Byzantine
fault tolerant (XRP), etc.) on a variety of factors including: network diversity and
participation, security, consolidation of decision making, etc”
Under business topics, the document specified but did not limit the proposals to include the use of blockchain in verifying and protecting medical records, identity to avoid voter fraud, which will further be used to fetch immediate verification of results. The suggestion also included a topic that revolved around the implications for automation of contractual relations across a value chain.
Lastly, a section was dedicated to the topics surrounding regulatory issues in the cryptocurrency space. The overall regulatory framework regarding digital assets, its projection of new technologies on the world, locally and globally were some of the points in sight under regulatory issues.
The post UC Berkeley to explore XRP consensus mechanism; receives grant from Ripple’s UBRI appeared first on AMBCrypto.
Source: AMB Crypto

XRP invictus amidst market crash; Binance CZ clears the air around base-pair buzz

The cryptocurrency market is currently experiencing one of the most brutal bear attacks, wherein all the big coins, such as Ethereum [ETH], Stellar Lumens [XLM], Litecoin [LTC], EOS, Cardano [ADA], Monero [XMR] and Tron [TRX] have slumped by more than 10%. Here, Bitcoin [BTC] also broke below $5,000 amidst the bloodbath witnessed by the market.
However, XRP, which is now the second-largest cryptocurrency in the world after surpassing Ethereum’s market cap is absorbing most of the damage and is only down by 4%. At press time, the coin was trading at a decent price of $0.49 with a market cap equivalent to $19.8 billion. The total 24-hour trading volume was observed to be $1.2 billion.
XRP 1-day price chart | Source: CoinMarketCap
Throughout the day, XRP underwent wild fluctuations. The lowest point that the token was traded at was $0.47. Post this slump, XRP showed much courage and returned to its game. Here, it took a flight and jumped back up to trade at $0.51 where its market cap was $20.2 billion. At present, the coin has maintained its momentum by setting a support line from $0.43 to $0.47.
XRP has also been in talks regarding being listed as a base pair on the leading cryptocurrency platform, Binance. Changpeng Zhao, the Founder and CEO of the platform recently tweeted the procedure for requesting the listing of a coin on Binance. Here, his tweet read:
“The xrp base shill is strong. Let’s get it out of your system, and put all your shills under this one tweet, and let’s see how much we get. “
C3|Nik, a blockchain follower and an XRP fan also wrote regarding the issue and said:
“.@cz_binance The 2nd biggest crypto asset by market cap is not offered as a base trading pair on @Binance
There is a good opportunity there to provide more value to your customers.”
Many also believe that Binance will be benefitted by adding XRP as a base pair because of Ripple’s cross-border payments product, xRapid that uses the cryptocurrency. Furthermore, this move by Binance is expected to add value to its customers and become an xRapid preferred platform.
The post XRP invictus amidst market crash; Binance CZ clears the air around base-pair buzz appeared first on AMBCrypto.
Source: AMB Crypto

Dominance of XRP over Ethereum [ETH] isn’t new; gap in market caps broadens

In the month of October, a report published by Bloomberg Galaxy Crypto stated that XRP is weighed more than Ethereum by 1.08%. This was shown by the Index Constituent Weights included in the report. Furthermore, XRP was also noticed to weigh only 6% less than Bitcoin [BTC].
Index Constituent Weights | Source: Bloomberg Galaxy Crypto
Earlier this week, CoinMarketCap, the online portal that aggregates cryptocurrency-related data finally showed XRP overtake Ethereum [ETH] when the coin moved up by a spot to push down Ether. At first, the market caps of both the coins were at par, vying for the second spot. However, this time, XRP sustained its position and left its competition behind.
At the time of writing, Ethereum is trading at $174 with a market cap of only $17.9 billion, after hitting below $200 a few days ago. The coin lost its glory when the market cap started to diminish from $22 billion [approx.]. Ether is currently down by over 2% amidst the bearish crypto-market.
ETH 7-day price and market cap | Source: CoinMarketCap
Simultaneously, the market cap of XRP continued to appreciate, widening the gap between the two coins and making it difficult for Ethereum to reclaim its lost glory.

At press time, XRP is the only token riding the bull. The token is up by 1.6%, trading at $0.47 with a market cap of $19.3 billion. The total 24-hour trading volume is recorded at $535.2 million.
In a Twitter post released regarding the cryptocurrency report by xrp_news, a fan channel for the XRP community, RevoluXn, a crypto-follower wrote:
“And this was back in October! Imagine what it will be next month.”
Axe Slinger, another Twitter user and a blockchain space follower also commented:
“Interesting that it’s only 6% below BTC when XRP marketcap isn’t nowhere near 6% less than that of BTC. Meaning they aren’t simply looking at marketcap or consider marketcap irrelevant. Great find!”
The post Dominance of XRP over Ethereum [ETH] isn’t new; gap in market caps broadens appeared first on AMBCrypto.
Source: AMB Crypto

XRP rockets by 10%; Ethereum [ETH] left behind as the gap between coins broaden

As the cryptocurrency market takes off from the bear market, XRP appears to be way ahead of the curve. Earlier this week, XRP overtook Ethereum [ETH] when it surpassed the latter’s market capitalization.
In the course of two weeks, XRP has slashed ETH twice to claim the second spot. Only this time, the damage for Ethereum seems permanent as the market caps between the two broadens every day.
At the time of writing, XRP has taken a steep upturn of 10%, trading at an appreciated price of $0.51 with a market cap of $20.6 billion. The total trading volume of the token in the past 24 hours is recorded at $729.4 million.

In the 1-hour candlesticks, XRP also broke the earlier resistance by a small figure. In the last 1-hour candle, the previous resistance set at $0.51 will also be broken if the candle closes above $0.52.
For this XRP rally, the maximum trading volume is hailing from Binance, the leading cryptocurrency exchange in the world. The trading volume is contributed by two pairs on Binance, XRP/BTC and XRP/USDT, which together add up to $119.4 million.
The Japan-based exchange, Bitbank is also catching up in contributing to the trading volume of XRP, wherein the pair XRP/JPY is alone being traded heavily on the exchange. The trading volume of this pair is recorded at $103.1 million.
This price hike could be associated with the success of Ripple, XRP’s parent company, in the FinTech industry. As the leaders of Ripple travel around the globe and hold talks with the institutions that matter, it is reflecting on the XRP ecosystem in the most profitable ways.
Recently, Brad Garlinghouse, the CEO of Ripple conducted a both-ways interview session with Ross Leckow, Deputy General Counsel, International Monetary Fund. At the Singapore FinTech Fest 2018, the two discussed the remittance space and its advancement through blockchain in detail and the regulatory framework required to facilitate the change.
The post XRP rockets by 10%; Ethereum [ETH] left behind as the gap between coins broaden appeared first on AMBCrypto.
Source: AMB Crypto

XRP/USD Technical Analysis: Could bears cause blood-spill over the green grass?

Across the cryptocurrency board, XRP is the only coin to be witnessing green figures post the market crash. Furthermore, the coin has managed to sustain the second spot after racing Ethereum [ETH].
At the time of writing, the token was up by 0.15%, trading at $0.47 with a market cap of $19 billion. The total 24-hour trading volume was recorded at
1-hour:
XRPUSD 1-hour candlesticks | Source: tradingview
The 1-hour analysis of the XRP candlesticks depicts two trend lines wherein the downtrend extends from $0.51 to $0.48 and the uptrend stretches from $0.43 to $0.47. There is a clear indication of a trend breakout as the trendlines are about to collide into each other.
The Parabolic SAR is presently negative on the coin’s fate. The dots are aligned above the candlesticks, pushing the price downwards.
The Awesome Oscillator is bullish on XRP as the bars are glowing green as of now.
The Chaikin Money Flow is seen taking a downward approach to predict a bearish market for the token.
1-day:
XRPUSD 1-day candlesticks | Source: tradingview
In the 1-day scenario, the XRP price trend is witnessing an uptrend from $0.27 to $0.47 and a resistance level set at  $0.58. The support line is forming an ascending triangle with the resistance level, suggesting a progress in the XRP market.
The Bollinger Bands are not predicting an increased volatility in the price trend. However, the bands have left space for the prices to fluctuate, forming a wide tunnel-pattern.
The MACD has just made a bearish crossover by the signal. The reading line is approaching further down to side with the bear.
The RSI has taken a neutral stance on the subject. The indicator was moving downwards but begun traveling horizontally, denying to confirm the coin’s fate.
Conclusion:
In this technical analysis, the majority of the indicators are projecting a negative price trend for XRP. A trend break out is predicted as well, but the Bollinger Bands are have suggested low volatility in the market.
The post XRP/USD Technical Analysis: Could bears cause blood-spill over the green grass? appeared first on AMBCrypto.
Source: AMB Crypto

XRP/USD Technical Analysis: The coin dipped in collision of greens and reds

XRP has been one of the coins to have coped with the severe crashed experienced by the cryptocurrency market in recent times. At the time of writing, when all the other coins are showing wounded signs, XRP has shot up by 5.32%, trading at an appreciated price of $0.47 with a market cap of $19 billion. The total 24-hour trading volume is recorded at $859.7 million.
1-hour:
XRPUSD 1-hour candlesticks | Source: tradingview
In the 1-hour scenario, the trend lines were extending from $0.51 to $0.48 [downtrend] and $0.43 to $0.46 [uptrend]. There is much space for price fluctuation, therefore, no indications of a trend breakout have been observed as of yet.
The Parabolic SAR is bullish on the cryptocurrency as of now. The dots are aligned below the candlesticks to provide support for the price trend.
The Awesome Oscillator is bearish on the coin as the bars are glowing red to cheer for the bear.
The Klinger Oscillator is also bullish on XRP, following the prediction of the Parabolic SAR. The reading line is shooting up to attempt a bullish crossover, hence, it is suggestive of a positive trend.
1-day:
XRPUSD 1-day candlesticks | Source: tradingview
In the 1-day timeline, the XRP candlesticks are witnessing a resistance level at $0.58. This resistance level is proven to be strong as it has not been breached till now. The upward trendline is depicting an upward trend as the trendline extending from $0.27 to $0.48 forms an ascending triangle with the resistance.
The Bollinger Bands is showing a considerable amount of volatility in the XRP market. The bands have widened a little more than earlier and are running in a broad-tunnel pattern.
The Chaikin Money Flow is bullish on the cryptocurrency at present. The reading line is climbing up further to confirm its stance on the matter.
The RSI is currently neutral on the prediction of the coin as the indicator has decided to take a horizontal path.
Conclusion:
In this technical analysis, most of the indicators are predicting a bullish trend, although multiple of them have not been able to confirm their outlook on the speculation. The Bollinger Bands are also unsure of a higher volatility in the XRP market. Therefore, it is safe to say that the coin might experience a dull trend for a while.
The post XRP/USD Technical Analysis: The coin dipped in collision of greens and reds appeared first on AMBCrypto.
Source: AMB Crypto

XRP receives official support from Coinbase Custody; Ripple logo represents the coin

Coinbase, the largest platform for cryptocurrency trading and other related services in the US has officially added XRP under supported assets for Coinbase Custody. However, despite Ripple, the blockchain remittance firm that created XRP, attempting to dissociate itself from XRP for the sake of decentralization, Coinbase has kept Ripple’s logo to represent the coin on its official website.
During the last week of October, there was a buzz around the cryptocurrency space as the Department of Financial Services [DFS] of the United States announced its support for Coinbase to operate as a crypto-custody.
After Coinbase received approval from DFS, it revealed the name of six big coins that would be added to its Coinbase Custody Trust Company program. The list comprised of Bitcoin [BTC], Bitcoin Cash [BTC], Litecoin [LTC], XRP, Ethereum [ETH] and Ethereum Classic [ETC].
Despite being one of the coins to make the cut for custody services, XRP has still not acquired a listing on the trading platform of Coinbase. Moreover, all the other five cryptocurrencies already continue to trade on the exchange.
Skypilot_crypto, an XRP investor and cryptocurrency space enthusiast on the news stated:
“Even though I do hope coinbase list xrp, when they eventually do I still won’t buy my xrp through coinbase. Why would I when I’ve been buying it through others all this time anyway? What would be the point? If Only They listed it sooner. Timing is everything and they are late”
C3|Nik, the Twitter handle of another cryptocurrency and blockchain space follower also tweeted:
“XRP is officially listed as a supported asset on Coinbase Custody.
That does not imply trading support in the normal Coinbase App though.”
On Coinbase using Ripple Labs logo, Michael Nardolillo, an XRP fan, stated:
“With the wrong symbol lmao”
The post XRP receives official support from Coinbase Custody; Ripple logo represents the coin appeared first on AMBCrypto.
Source: AMB Crypto

XRP/USD Technical Analysis: Ray of hope for price trend to regain momentum

Post the traumatic crash in the cryptocurrency market, all the coins across the board are struggling to regain momentum and control. At the time of writing, XRP was down by 9.17%, trading at a depreciated price of $0.45 with a market cap of $18.2 billion. The total 24-hour trading volume was $1.17 billion,
1-hour:
XRPUSD 1-hour candlesticks | Source: tradingview
In the 1-hour scenario, the downward trend is extending from $0.51 to $0.47 with support line fixed at $0.45 level. The downtrend is forming a descending triangle with the support to depict a downward slide in XRP price.
The Parabolic SAR is predictive of a bullish on the price trend. The dots are floating below the price candles to uplift the prediction.
The Awesome Oscillator is also suggestive of a green trend. The bars have turned green to side with the bull.
The Klinger Oscillator is also nodding along with its fellow indicators. The reading line has been bouncing off the reading line and keeping itself from making a bearish crossover. The indicator is now approaching upwards to predict positivity.
1-day:
XRPUSD 1-day candlesticks | Source: tradingview
In the 1-day timeframe, the upward trendline is ranging from $0.27 to $0.48. The current resistance is set at $0.58. Furthermore, there is an upward trend noticed in this timeline as the trendline forms an ascending triangle with the resistance.
The Bollinger Bands are not showing much volatility as of now but are indicating a slightly higher fluctuation in the XRP market.
The Chaikin Money Flow is extremely bullish on the XRP price. The reading line has taken an upward approach to side with the bull.
The RSI disagrees with the majority of the indicators by predicting a bearish rule in the market. The reading line is plunging further at the moment to confirm the stance.
Conclusion:
This technical analysis marks that most of the above indicators have predicted a bullish trend for the cryptocurrency. RSI is the odd-one-out from the bunch and has sided with the bear. However, XRP is not expected to experience much price fluctuation.
The post XRP/USD Technical Analysis: Ray of hope for price trend to regain momentum appeared first on AMBCrypto.
Source: AMB Crypto

Litecoin [LTC] Foundation endorses CoinGate as the most recent payment processor

Litecoin [LTC], the seventh-largest cryptocurrency in the world and best known to have been created to provide compatibility to Bitcoin [BTC], confirmed that the Foundation has accepted CoinGate as their official payment processor for the cryptocurrency.
The tweet originally posted by CoinGate mentioned that it will be working on the Lightning Network at the onset of this partnership. The tweet read:
“We are thrilled to announce that #LitecoinFoundation accredited CoinGate as the official, trustworthy #Litecoin payment processor! With the confidence of the Foundation, we continue our work on upcoming Litecoin’s #LightningNetwork. More info on that soon!”
Partnership announcement by Litecoin handle | Source: Twitter
In other Litecoin ecosystem developments and partnerships, it has been observed that the Foundation took a Twitter poll for public preference between two choices for PayWithLitecoin: Uber or Lyft. The mentioned are the leading players within the domain of but not limited to the transportation industry.
This poll was suggestive of Uber as the winner with 74% of votes allocated to the choice. Lyft received a meager 26% of the total votes.
PayWithLitecoin was a campaign launched by the Litecoin Foundation to drive exponential adoption of LTC into the daily lives of regular people. The practice is relevant in countries such as Australia, with a startup called TravelByBit driving the campaign, not just for Litecoin but many other big cryptocurrencies as well.
Jessy, a cryptocurrency and blockchain space follower commented on the tweet, addressing:
“So… the Litecoin Foundation can decide which are the trustworthy Litecoin payement partners? #decentralized”
Against the “trustworthy #Litecoin payment processor” claim by CoinGate, a user named Nick LTC responded:
“Accredited by the foundation, Has no effect on what you chose to accept.”
The post Litecoin [LTC] Foundation endorses CoinGate as the most recent payment processor appeared first on AMBCrypto.
Source: AMB Crypto

Ripple CEO on partnership: Many SWIFT-enabled banks are using Ripple’s technology

Brad Garlinghouse, the CEO of blockchain remittance firm Ripple, has opened up regarding the rumors revolving around SWIFT joining Ripple to improve remittance services in FinTech. In an interview with Bloomberg, he implicitly branded SWIFT’s methods as outdated wherein its services have not evolved to the standards of today’s market.
SWIFT [Society for Worldwide Interbank Financial Telecommunication] is a financial messaging network to provide payment settlement services to the banking sector. The opening lines by the Ripple chief were:
“SWIFT is owned by the banks and we’re trying to help the banks. We feel like blockchain technologies are a massive step forward in terms of how correspondent banking has historically worked. The technologies that banks use today – the SWIFT developed decades ago, it hasn’t really evolved.”
Garlinghouse admitted that while Ripple has had several partnership opportunities, the company has not been able to bring them to fruition. However, it will continue to focus on solving customer problems as of now.
Next, he mentioned SWIFT’s recent statement regarding blockchain, wherein the company stated that it does not see the respective technology as a solution for correspondent banking. Contradicting the point, Garlinghouse claimed that at least over a hundred customers of SWIFT disagree with this point of view.
Regarding the possibility of Ripple taking over SWIFT as an industry player, the businessman opined that it already has. Through executing its data on a day-to-day basis, Ripple is already leading the pack, leaving SWIFT behind, Garlinghouse explained. He added:
“In that we now signed well over 100 banks – some of the largest SWIFT enabled banks in the world are now using Ripple’s technology.”
He further cited an example of a remittance company which is using Ripple’s technology. The company reduced the price per transaction for their customers from $20/transaction to $2/transaction. The service also saw an increase of a massive 800% usage overnight. This, Garlinghouse explained, was the type of dynamic that SWIFT is unable to support. Therefore, Ripple is way ahead in the game right now.
He closed the interview by stating that his company wants to see banks succeed in the new world order and take advantage of these technologies. Lastly, Garlinghouse stated that Ripple is open to working with SWIFT.
The post Ripple CEO on partnership: Many SWIFT-enabled banks are using Ripple’s technology appeared first on AMBCrypto.
Source: AMB Crypto

XRP/USD Technical Analysis: Bears not invited to bull’s homecoming

Unlike most of the big coins across the cryptocurrency board, XRP, the third-largest token has taken a flight, becoming the largest gainer under the top-20 list. The ecosystem is currently witnessing a lot of development and changes in terms of API as well as adoption. Therefore, the market success of XRP does not come as a surprise in the community.
At the time of writing, the token was up by 3.77%, trading at an appreciated price of $0.52 with a market cap of $21 billion. The 24-hour trade volume was recorded at $699.7 million.
1-hour:
XRPUSD 1-hour candlesticks | Source: tradingview
The one-hour duration of XRP candlesticks shows a downtrend extending from $0.55 to $0.53 whereas the uptrend is observed from $0.5 to $0.51. A strong support is set at $0.49 to keep the prices from falling deeper. The price trend is not experiencing much compression as of now, therefore, a trend breakout does not seem feasible at this point.
The Parabolic SAR was previously bearish on the XRP price trend. However, the indicator has taken to the other side of the road to side with the bull. The dots are currently aligned below the candlesticks to display support for a positive price trend.
The Awesome Oscillator is flashing green at the market as well, behaving similarly as the above indicator.
The Klinger Oscillator seems to be catching up with the above indicators to hold a bullish grip. The indicator was running bearish, below the signal line but is approaching upwards to make a green crossover and join the others.
1-day:
XRPUSD 1-day candlesticks | Source: tradingview
The one-day case is presenting the trendlines from $0.58 to $0.55 as a downtrend and $0.27 to $0.45 as an uptrend. A trend breakout is not reflecting a possibility in the current scenario as there is much gap for price fluctuation to occur.
The Bollinger Bands compressed the price trend by following a narrow path previously, but are back to a widened pattern. The indicator is depicting a higher volatility for the XRP market.
The Chaikin Money Flow has trekked the steep uphill road to hit the ceiling. The indicator is evidently above the 0-mark to crash the bullish party.
The RSI returned after making contact with the overbought zone. The indicator has begun its journey to the same path again and is taking an upward approach to indicate a bullish trend.
Conclusion
In the technical analysis, all the indicators are suggestive of a bull run for the XRP market. The coin has been seeing short-period rallies on a frequent basis for a week now. The Bollinger bands have also predicted an increased volatility in the market, making the fate of XRP interesting to track.
The post XRP/USD Technical Analysis: Bears not invited to bull’s homecoming appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Cash [BCH/USD] Technical Analysis: Bears drool over bloody market amidst the hash-war

Bitcoin Cash [BCH], the coin that is known to be infamous for banking on hard forks since the beginning, has been unstable in the market recently. This is due to the upcoming hard fork on November 15, that will decide the fate of the cryptocurrency and its market valuation.
At the time of writing, the token was in the red zone with a mere drop of 0.63%. The coin was trading at $511.46, with a market cap of $8.92 billion. The 24-hour trading volume was recorded at $848 million.
1-hour:
BCHUSD 1-hour candlesticks | Source: tradingview
In the one-hour scenario of BCH candlesticks, the support is set at $496.31, whereas the downtrend extends from $629.79 to $529.93. The resistance line is forming a descending triangle with the support line, projecting a downtrend in the Bitcoin Cash market.
The Parabolic SAR is bearish on the price trend. This is evident by the alignment of the dots above the price candles.
The Awesome Oscillator is flashing green at the moment, going against the above prediction. The bars are on the bullish side.
The Chaikin Money Flow is also bullish on the matter. The reading line is approaching an upward trend, currently traveling above the 0-mark to side.
1-day:
BCHUSD 1-day candlesticks | Source: tradingview
In the longer time frame, Bitcoin Cash candlesticks are experiencing a wide downtrend extending from $1,116.89 to $628.42. An immediate resistance level can be noticed at $652.74. Furthermore, an uptrend is also observed from $421.9 to $509.04.
The possibility of a trend breakout is not visible at this point as the trend-lines are unlikely to reach an intersection.
The Bollinger Bands have narrowed down to form a bleak tunnel, but have now opened up to give space to price fluctuation.
The RSI hit the overbought zone sometime over the past two weeks and is now crashing to predict a bearish outlook on the matter.
The Klinger Oscillator has also made a steep downturn after hitting the top. It is currently past a bearish crossover by the signal and is crashing down.
Conclusion
In the technical analysis, the majority of indicators, except for Awesome Oscillator and Chaikin Money Flow, are depicting a bearish price trend for the BCH market. As the hard fork nears, the fate of the coin still remains in limbo.
The post Bitcoin Cash [BCH/USD] Technical Analysis: Bears drool over bloody market amidst the hash-war appeared first on AMBCrypto.
Source: AMB Crypto

IMF Official to Ripple Co-founder – IMF involved in research, publication on crypto-assets and blockchain

In a recent interview with Ripple’s Co-founder Brad Garlinghouse, Ross Leckow, an Internation Monetary Fund [IMF] official discussed the Fintech industry and the role of blockchain in it, especially from the perspective of the ASEAN region. He stated that the monetary authority is taking a noticeable interest in the field and seeking guidance from the best in private as well as public sectors.
He began by mentioning that blockchain is hard to discuss without first talking about other new technologies, such as the Intenet and cloud computing that are reforming FinTech. He added distributed ledgers and virtual assets as the newly integrated part of the industry.
Next, Leckow shared that IMF is engaging with the subjects related to the potential impacts of FinTech on cross-border payments by associating itself with the private and public sectors within the industry. Here, he cited Ripple Co-founder Chris Larsen and said:
“Last year, we put in place a high-level advisory group of industry leaders from private and public sectors to help guide us in our work on FinTech. I’m very happy to say that Chris Larsen, one of the co-founders of Ripple […] part of that group. And we’re grateful for the worldly advice that they give us.”
IMF has 189 countries on the board of members, at present. Leckow, who is also the Deputy General Counsel at IMF stated that most of these nations are looking for guidance on how to approach and unleash the potential of FinTech to boost development. These members are also seeking an approach to placing regulations that guard the industry against the risk posed by new technologies.
The official also revealed that IMF is conducting intense work in the space through several distinct initiatives. The authority has an active program of research and publication dedicated to the industry and the technology. According to the official, his institution has published major studies on virtual currencies, or as he addressed them: crypto-assets.
The post IMF Official to Ripple Co-founder – IMF involved in research, publication on crypto-assets and blockchain appeared first on AMBCrypto.
Source: AMB Crypto

XRP/USD Technical Analysis: Price to stand still after a short bearish run

In the current state of the cryptocurrency market, XRP, the third-largest coin on the index, is not showing much fluctuation in its price trend. At the time of writing, the token was down by 0.15%, trading at $0.507 with a market cap equivalent to $20.2 billion. The total 24-hour trading volume was observed at $332.2 million.
1-hour:
XRPUSD 1-hour candlesticks | Source: tradingview
In the one-hour scenario, the trendlines are ranging from $0.55 to $0.51 [downtrend] and $0.49 to $0.5 [uptrend]. A trend breakout is imminent as evident by the concentration generated in the XRP price.
The Parabolic SAR is currently suggestive of a bear run for the cryptocurrency. The dots are placed above the candlesticks, pointing at a downtrend prediction.
The Klinger Oscillator has made a bearish crossover by the signal line. The indicator is moving further down to take a walk on the bear’s turf.
The Awesome Oscillator is also flashing red to agree with its fellow indicators. The bars are currently indicating an unhealthy price trend for Litecoin.
1-day:
XRPUSD 1-day candlesticks | Source: tradingview
The one-day chart of XRP depicts a downtrend from $0.58 to $0.55 and an uptrend from $0.27 to $0.45. In the long run, the possibility of a trend breakout is not visible as of now, as there is still space for the trendlines to intersect.
The Bollinger Bands just returned from a narrow path and are widening its horizons to predict higher volatility in the XRP price trend.
The Chaikin Money Flow indicator is gallivanting in the bull’s arena and flashing a green signal at the price trend. However, the prediction is not confirmed as the reading line is moving downwards, despite being above the 0-mark.
The RSI is projecting a bullish outlook on the matter. However, the indicator has taken to a neutral approach after returning from a daringly bullish stance.
Conclusion
In the technical analysis, the indicators have delivered a mixed response on the price prediction. While the indicators in the one-hour chart are looking bearish, the other indicators have either suggested a bullish or neutral prediction on the subject.
The post XRP/USD Technical Analysis: Price to stand still after a short bearish run appeared first on AMBCrypto.
Source: AMB Crypto