TransferWise Undermines the Potential Advantage of Blockchain Technology

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TransferWise Undermines the Potential Advantage of Blockchain Technology

Here’s a look into the myth of TransferWise regarding blockchain and why it is wrong into its belief.

TransferWise Undermines the Potential Advantage of Blockchain Technology

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Source: CoinSpeaker

Ripple Price Analysis: Ripple Plummets Below $0.50; Support Beneath at $0.40

Key Highlights:

Ripple has dropped back below the $0.50 handle over the past session of trading to trade around $0.44.
The market is expecting strong combined support at the $0.40 handle.
Support moving forward; $0.45, $0.4221, $0.4091, $0.4034, $0.3825, $0.3429, $0.3304.
Resistance moving forward; $0.4702, $0.4755, $0.4975, $0.5198, $0.5365, $0.5584, $0.60.

Ripple has seen a further price decline totaling -9.32% over the past 24 hours of trading against the USD. The market is presently trading at a price of $0.4463 after undergoing a 13% price decline over the past 7 trading days. However, compared with the rest of the Cryptocurrency market, Ripple has been holding relatively strongly.
Ripple continues to hold the number 2 ranked position in terms of overall market cap value across the entire industry. It currently holds an $18 billion value and continues to widen the gap between Ethereum. XRP has seen a 38% price hike over the last 90 trading days as the 64-month-old coin now trades at a price that is 87% lower than the all-time high value.
Let us continue to analyze price action for XRP/USD over the short term.
Ripple Price Analysis [XRP]
XRP/USD – SHORT TERM – DAILY CHART
Chart Source by TradingView
Analyzing price action from the short term perspective above, we can see that the recent market drop had seen XRP/USD fall to a low of $0.3961 today. We can see that this area was heavily supported by the short-term .886 Fibonacci Retracement level (drawn in blue) priced at $0.4034 and the downside 1.272 Fibonacci Extension level (drawn in red) priced at $0.4091.
As the market hit this area of combined support the bulls stepped back in and began to regain some of the losses. We can see that XRP/USD is now trading at the support provided by the short-term .618 Fibonacci Retracement level (drawn in blue) priced at $0.4535 as the Bulls battle for control.
Moving forward, if the sellers continue to drive price action below the $0.45 handle we can expect immediate support below to be located at the short-term .786 Fibonacci Retracement level (drawn in blue) priced at $0.4221 followed by the combined support at the $0.40 handle.
If the bearish sentiment continues further lower then further support can be found at the October 12 low priced at $0.3780 followed by the long-term downside 1.414 Fibonacci Extension level (drawn in red) priced at $0.3428.
Alternatively, on the other hand, if the buyers can hold above the support at the $0.4535 handle and drive price action higher we can expect further resistance above to be located at the .5 and .382 Fibonacci Retracement levels (drawn in blue) priced at $0.4755 and $0.4975, respectively.
If the bullish momentum continues to drive price action further higher then more resistance above can be located at the short-term 1.414 and 1.618 Fibonacci Extension levels (drawn in purple) priced at $0.5356 and $0.5584, respectively.
The RSI has recently slipped below the 50 handles to indicate that the sellers are in control of the market momentum. For a sign that the selling pressure is fading, we will look toward the RSI rising back toward the 50 handles.
The post Ripple Price Analysis: Ripple Plummets Below $0.50; Support Beneath at $0.40 appeared first on Coingape.
Source: CoinGape

Bitcoin Sets Yearly Low Below $4,400, Recovers Slightly as Altcoins Continue to Drop

After yesterday’s widespread market carnage, Bitcoin has continued to drop and is showing little sign of a pending recovery. Bitcoin’s latest drop to fresh 2018 lows has dragged altcoins even further down, and market sentiment is sitting at a yearly low as investors lose hope.
At the time of writing, Bitcoin (BTC) is trading down 7% at its current price of $4,780, but has recovered slightly from its intraday lows of under $4,400. Bitcoin has been falling ever since it failed to decisively breach the $6,500 level earlier this month, and today’s slight bounce was the first major one Bitcoin has seen since it started its decline.
BTC’s latest leg down, which first began yesterday when it fell below $5,000 and continued well into today, has been perpetuated by increased trading volume, which has surmounted to nearly $9 billion on the aggregated markets. This is up significantly from its volume levels earlier this week while BTC was trading in the mid-$5,000 region, where its 24-hour trading volume was just over $4 billion.
The overall cryptocurrency market cap is currently sitting at approximately $155 billion, down from its November highs of $220 billion.
Related Reading: Analyst: Too Early to Write off Bitcoin, SEC Had Negligible Effect on Crypto Markets
Altcoins Sink to New 2018 Lows as Bitcoin Plunges
Bitcoin’s price drop over the past few days has led the markets, with most altcoins trading down significantly over the past week.
The market drop has been led by Ethereum (ETH) and Bitcoin Cash (BCH), which have seen massive drops of 35% and 60% respectively from their November highs.
Ethereum, which dropped from monthly highs of $220 to its current price of $143, may be seeing the result of ICO projects selling off their remaining ETH holdings in an effort to protect their funds, although this claim, which has been echoed by several pundits and analysts, is purely speculative and there is little data to support it.
Bitcoin Cash has been spiraling downwards ever since its hard fork event occurred, which initially seemed like a good thing for BCH’s price.
In late-October and early-November, BCH’s price climbed from under $420 to highs of over $630 due to the imminent hard fork event, but around this price enthusiasm died off and traders began taking profits, which pushed its price down.
Following the hard fork event, BCH continued to spiral downwards, which was perpetuated by Bitcoin’s crash, leading its price near its all-time-lows of $208.
XRP has been a market outlier over the past few days and has been relatively stable during these turbulent market conditions.
At the time of writing, XRP is trading down 8% at its current price of $0.452. Although its price has fallen slightly today, it has held up significantly well over the past few days and is only trading down 16% from its monthly highs of $0.54. Although this seems like a large drop, it has been one of the best performing altcoins in the market.
Over the coming days and weeks, the market’s price movements will give investors increased clarity as to whether or not this is simply capitulation or a sign of what is to come in 2019.
Featured image from Shutterstock.
The post Bitcoin Sets Yearly Low Below $4,400, Recovers Slightly as Altcoins Continue to Drop appeared first on NewsBTC.
Source: New feedNewsBTC.com

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

EOS, Tron [TRX] cumulatively contribute 82% of all cryptocurrency transactions

Despite a bearish and sideways market, cryptocurrency transactions seem to be on the verge of reaching the previous all-time high. As per the data obtained from Blockchain center, the total on-chain transactions for all cryptocurrencies exceeded 522.119 million and the total number of active users for these transactions add up to 1.357 million.
Source: Blockchain Center
EOS has the most number of transactions as compared to any other cryptocurrencies, even exceeding that of Ethereum [ETH] and Tron [TRX]. The total transactions of EOS as of today is approximately 350.30 million. These transactions are coming from a total of 41,457 active addresses.
The transactions on EOS network peaked at 468.08 million in the second week of August 2018 and has since declined to 350 million. When compared to the big picture, EOS’ transactions are coming from a mere ~3% of the total active users.
Source: Blockchain Center
Tron follows EOS and has ~78.543 million transactions, which is the highest number of on-chain transactions that Tron blockchain has ever witnessed. As compared to EOS, the total number of active addresses for Tron are almost halved, i.e, 21,211.
Source: Blockchain Center
 
Bitcoin’s total transactions in the year 2018 peaked at 24.25 million in the second week of January 2018 and are currently hovering at 17.08 million, but Bitcoin’s total active addresses far exceed that of EOS’ or Tron’s, coming up to 681,779.
Source: Blockchain Center
Ethereum has a total of 33.27 million transactions as of November 11, which is contributed by a total of 247,671 active addresses. Ethereum’s on-chain transactions peaked at 71.48 million in the second week of January 2018 and have since declined.
Source: Blockchain Center
XRP’s transactions have come down to 17.99 million transactions, which are one-quarter of XRP’s peak number of transactions i.e., 72.05 million. The total active addresses as of today add up to 6,924.
Source: Blockchain Center
In conclusion, Tron and EOS together have about 4.5% of the total number of active addresses, while still contributing 82% of all the cryptocurrency transactions.
Bitcoin and Ethereum together contribute a mere ~9.5% of the total transactions but have a cumulative active address contribution of ~68%. EOS contributes up to 67% of the total number of transactions on the blockchain while Tron contributes to 15% of the total transactions. To sum it all up, EOS and TRX control 82% of all the transactions which come from only 4.5% active addresses.
A Reddit user tsMQ commented:
“If only 3% of active addresses is making that many transactions imagine when we hit 10% maybe 15% we will be blowing them out of the water for transactions per 24 hours and usage per user which is what we want, users using their coins/resources not just bag holding and watching the price drop.”
The post EOS, Tron [TRX] cumulatively contribute 82% of all cryptocurrency transactions appeared first on AMBCrypto.
Source: AMB Crypto

Sorry Bitcoin, but Ripple’s XRP Сan Become Number 1 by Market Capitalization

CoinSpeaker

Sorry Bitcoin, but Ripple’s XRP Сan Become Number 1 by Market Capitalization

After last week’s sell-off the bitcoin price found support at around $5,500 but that has now eroded, with bitcoin falling some 3% over the last 24 hours to under $5,340—its lowest price since October last year. Is it a turn for XRP to become the first now?

Sorry Bitcoin, but Ripple’s XRP Сan Become Number 1 by Market Capitalization

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Source: CoinSpeaker

Crypto Exchange Binance can Make Ripple’s XRP Its Base Currency

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Crypto Exchange Binance can Make Ripple’s XRP Its Base Currency

Binance CEO Changpeng “CZ” Zhao took to Twitter on Sunday to send out a message to the XRP community regarding their constant talking of XRP as a base currency for the leading crypto exchange.

Crypto Exchange Binance can Make Ripple’s XRP Its Base Currency

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Source: CoinSpeaker

XRP Beats ETH by $2.5 Billion Market Cap, Here’s What’s Driving XRP

XRP took the 2nd position from Ethereum in the red market with their market cap difference extending to about $2.5 billion. A number of factors viz. support from exchanges, wallets, businesses, and banks among more are keeping the ball rolling for XRP.
XRP’s Reign on 2nd Position
Recently, XRP kicked ETH from the 2nd spot. Despite the market being red and both the cryptocurrencies falling, XRP replaced Ethereum on the second position as per market cap. However, the gap between both the cryptocurrencies is extending, reaching $2.5 billion.
At the time of writing, XRP has been trading at $0.4837 while in the red by 5.37 percent with a market cap of $19.4 billion while Ethereum is down by 7.76 percent at $168 with a market cap of $16.8 billion.

As the market cap gap keeps on expanding between the two cryptocurrencies and XRP having a momentum to its side, it is possible XRP will claim the 2nd position for longer.
Ethereum is not seeing much of movement both in terms of price and its usability as ICOs have lost appeal in the bear crypto market. Though, according to the IBM website, iExec which is working with IBM on extending the value of cloud through improved security “uses the Ethereum blockchain to create a market for decentralized cloud computing.”
What’s the Driving Force?
When it comes to XRP, for the starters, it has been seen gradually decoupling from Bitcoin as usually, altcoins move in tandem with Bitcoin as pointed out by Weiss Crypto Ratings as well,

#XRP is holding well above recent lows, but if we see it decouple from #BTC, this would be a major step forward in the evolution of the crypto markets. We’d love to see each crypto currency trade based on it’s own fundamentals, and not whatever BTC happens to do. #cryptocurrency
— Weiss Ratings (@WeissRatings) November 15, 2018

Recently, we reported the big boost XRP liquidity got with a string of support from exchanges, wallets, and businesses along with traction as a base currency.
XRParrot, a way to convert fiat into XRP has been released by an XRP enthusiast and developer Wietse Wind who has also created XRP Tip Bot that “enables users on Reddit, Twitter and Discord to send Ripple XRP to each other through reddit comments/tweets”is also coming with a new feature as shared in part by a Redditor,
“The page isn’t updated yet, but from what Wietse described, we can now tip anyone with a paper account (QR code).”
In another instance, Private Internet Access an organization that first supported XRP in 2013 as reported by the organization only to reportedly remove it last year. However, the organization has yet again extended the support to XRP as the website explicitly mentions that it accepts “Ripple” among other options.
Also, APPx group holdings has signed a non-binding letter of intent (LOI) with GateHub Ltd where one of its services GateHub Fifth works as a gateway for cryptocurrencies.
“The platform offers the leading consumer wallet system that allows users to interact with Ripple’s XRP Ledger with different asset types (BTC, XRP, EUR, USD, GOLD, ETH, ETC, DASH).”
Additionally, one of the Ripple’s product xCurrent has unveiled its 4.0 features shared by crypto enthusiast EDadoun on Twitter,

Not to forget Binance CEO, Changpeng Zhao’s Tweet that got the XRP community excited and moving,
 

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. https://t.co/usiISCtuSj
— CZ Binance (@cz_binance) November 18, 2018

The post XRP Beats ETH by $2.5 Billion Market Cap, Here’s What’s Driving XRP appeared first on Coingape.
Source: CoinGape

Ripple Remains Strong Up 10% on The Month, Can it Decouple and Catch Bitcoin?

There have been few survivors from last week’s crypto rout which saw almost $30 billion wiped off the markets in a couple of days. Bitcoin for one has taken a beating this time and has settled at a new price range indicating that a recovery could be a long way off. XRP on the other hand has weathered the digital storm and emerged on top, well on top of Ethereum at least.
Solid Performance Over The Past Month
Ripple constantly claims that XRP has nothing to do with the company but the simple fact is that it does. What happens to Ripple will affect XRP, and with over half the supply locked away by the company, it is still holding all of the strings. Positive developments for both the firm and its token have made XRP one of the few cryptocurrencies to make a gain over the past month. It has made over 10% in the last thirty days while Bitcoin and Ethereum have nosedived 14 and 16 percent respectively.
These gains have pushed XRP above $20 billion market capitalization and into second place as Ethereum continues to slide. The crypto twitter-sphere is awash with talk of a ‘flippening’ today as the notion of XRP catching Bitcoin becomes more valid. It still has a long way to go however with a market cap gap of over $75 billion and many observers are commenting in jest.

The higher $XRP climbs the more I am certain it will flip $BTC in 2019.
Very obvious this will be our new crypto standard.
Hard to accept for many but so was bitcoin back in 2010
— 𝕭𝖎𝖙𝖑𝖔𝖗𝖉 55 (@Crypto_Bitlord) November 18, 2018

CNBC’s crypto-trader host Ran NeuNer highlighted that the recent hash wars between Bitcoin Cash clans has done nothing to bolster the crypto ecosystem or its communities;

These hash wars highlight why everyone should dump BTC and BCH and just put all their money into XRP!
— Ran NeuNer (@cryptomanran) November 17, 2018

Other memes have included pictures of the Grim Reaper coming for Bitcoin. Even Craig Wright of the ‘faketoshi’ tribe chimed in tweeting “For XRP not to be a security, it will need to be a real utility offer. IF something is exchanged with expectations of profit, it is not a utility token. XRP is a tradable good that is sold under the expectation of profit. That in itself makes it a security.” If the US SEC agrees with this, XRP hodlers could be dumped en masse.
Decoupling In Motion?
For XRP to truly be propelled though, it needs to be decoupled from Bitcoin which has driven the state of crypto markets since they began. The only way to do this would be for more exchanges to offer trading pairs in XRP in addition to BTC, ETH and stablecoins. Weiss Ratings tweeted that BTC should not dictate the outcome of every single project in the industry;

What's it gonna take for #XRP to decouple from #BTC? Simple: XRP-based trading pairs. The sooner we add more diversity to the crypto space, the safer we'll all be. #Bitcoin shouldn't dictate the outcome of every single project in this industry. #Binance, are you listening?
— Weiss Ratings (@WeissRatings) November 16, 2018

Binance boss, CZ, meanwhile has also responded, talking about the growing requests for XRP base pairs;

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. https://t.co/usiISCtuSj
— CZ Binance (@cz_binance) November 18, 2018

At the time of writing during the Asian trading session XRP was trading at $0.50, down less than a percent on the day, but more significantly Bitcoin and Ethereum were dropping even further.
 
Image from Shutterstock
The post Ripple Remains Strong Up 10% on The Month, Can it Decouple and Catch Bitcoin? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ripple Price Analysis: XRP/USD Could Gain Momentum Above $0.50

Key Highlights

Ripple price is holding gains above the $0.4700 support level against the US dollar.
There is a key bullish trend line formed with support at $0.4800 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is likely to accelerate gains once there is a break above the $0.5000 and $0.5180 levels.

Ripple price is trading in a bullish zone against the US Dollar and Bitcoin. XRP/USD remains well supported on the downside near the $0.4800 level.
Ripple Price Analysis
Recently, there was a decent support base formed near the $0.4500 level in ripple price against the US Dollar. The XRP/USD pair traded higher and broke the $0.4800 and $0.5000 resistance levels. There was even a close above the $0.4800 level and the 100 hourly simple moving average. Buyers pushed the price above the $0.5100 level, which is a positive sign. A high was formed at $0.5183 and later the price started a downside correction.
It declined below $0.5000 and the 23.6% Fib retracement level of the last wave from the $0.5480 low to $0.5183 high. However, there are many supports on the downside near the $0.4820 and $0.4800 levels. More importantly, there is a key bullish trend line formed with support at $0.4800 on the hourly chart of the XRP/USD pair. The trend line support is close to the 100 hourly SMA at $0.4760. Besides, the 61.8% Fib retracement level of the last wave from the $0.5480 low to $0.5183 high is near $0.4810. Therefore, as long as the price is above the $0.4800 support and the 100 hourly SMA, there could be more gains in the near term.

Looking at the chart, ripple price must break the $0.5000 and $0.5120 level to start a fresh bullish wave. The next major resistance is at $0.5250 and $0.5275.
Looking at the technical indicators:
Hourly MACD – The MACD for XRP/USD is slightly in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is just below the 50 level.
Major Support Level – $0.4800
Major Resistance Level – $0.5120
The post Ripple Price Analysis: XRP/USD Could Gain Momentum Above $0.50 appeared first on NewsBTC.
Source: New feedNewsBTC.com

XRP Technical Analysis: The short term bull trend stays stronger with 8% hike in a day

The cryptocurrency market seems to be slowly gaining traction after the massive bear hit which took place last week. The price of Bitcoin [BTC], which had touched as low as $5,358 on 15th November is gradually increasing. At the time of writing, BTC is trading at $5,593 and has shown approximately 1% gain in the past 24-hours.
However, the 7-day chart still shows a 12.59% decline. The case remains the same with other cryptocurrencies, as they are moving out of the bear’s claws.
However, XRP continues to maintain its 2nd position on the market list with a bright green signal. At the time of writing, XRP is trading at $0.51 with a market cap of $20 billion approximately. The 24-hour and 7-days chart shows a gain of 8.32% and 1.57% respectively.
1 hour:
XRP 1 hour chart | Source: TradingView
The 1-hour chart of XRP looks bullish with upwards trend lines extending from $0.43 – $0.47 – $0.49 and $0.48 – $0.52. The resistance point created $0.51 on 14th November has been broken and the price has moved further to reach the current rate.
The Parabolic SAR depicts a highly positive outlook for XRP at the moment. The dotted pattern is clearly aligned below the candlesticks and moving towards the bullish end.
The Awesome Oscillator is forming red bars above zero line of the histogram, depicting a slight downtrend in this 1-hour time frame.
The Chaikin Money Flow graph demonstrates an upward momentum with buyers maintaining their position in the XRP market with a good amount of inward money flow.
24 hours:

In the 24 hours chart of XRP, we can see an uptrend formed from $0.26 to $0.47 with the recent resistance point set at $0.58.
The Bollinger Bands are forming a slightly narrow path, indicating that there will be less volatility in the XRP market.
The MACD is experiencing a bearish crossover with the moving average line continuing its journey closely aligned with the signal line. The histogram has also formed negative bars below the zero line in this time frame.
The Aroon Indicator shows a bearish trend as the Aroon Up line is moving toward the zero line. The Aroon Down line has hit the maximum and is currently showing a trend reversal. This might let the bulls take over the market at the end of this trend.
Conclusion:
According to the above Technical Analysis, the price of XRP will continue the bullish trend for a short time as the indicators are strongly in favor of a bull run in the 1-hour chart. On the long run, the indicators are not highly supporting the bull run, however, a positive trend reversal can be expected.
The post XRP Technical Analysis: The short term bull trend stays stronger with 8% hike in a day appeared first on AMBCrypto.
Source: AMB Crypto

Ripple Price Analysis: Ripple Surges by Over 7% Today As Crypto Markets Attempt Recovery

Key Highlights:

Ripple sees 7% increase as the rest of the market struggles.
The cryptocurrency is now in 2nd market position, $2 billion ahead of Ethereum.
Support moving forward; $0.4975, $0.4755, $0.4702, $0.4535, $0.44, $0.4221, $0.4091, $0.4034, $0.3825.
Resistance moving forward; $0.5198, $0.5356, $0.5584, $0.5933, $0.6057, $0.62478, $0.6378, $0.6523.

As the rest of the cryptocurrency market struggles to make a recovery, Ripple is leading the pack with a +7.79% increase in price over the past 24 hours of trading. Ripple is presently now trading back above $0.50 at the $0.52 handle, at the time of writing, after seeing a +2.75% price spike over the past 7 trading days.
Ripple is now ranked in 2nd position in total market cap rankings, taking over Ethereum once again. Ripple has continued to grow ahead of Ethereum by a total of $2 billion as it currently holds a total market cap value of $20.79 billion.
XRP has seen a 90 day period where price action has risen by an impressive 61% as the 63-month-old coin now trades at a price that is 85% lower than the all-time high price.
Let us continue to analyze XRP/USD from the medium term and highlight any potential support and resistance zones moving forward.
Ripple Price Analysis [XRP]
XRP/USD – MEDIUM TERM – DAILY CHART
https://www.tradingview.com/x/hBuQypwg/
Chart Source by TradingView
Analyzing price action from the medium term we can see that Ripple had seen a small price surge starting from a low of $0.3780 on the 12 of October 2018 and extending to a high of $0.5698 on the 6th of November 2018. This was a price increase totalling 50%.
We can see that on November 14th, the day that Bitcoin plummeted below $6000 in an overall market wipeout, Ripple had dropped to support provided by the downside 1.272 Fibonacci Extension level (drawn in red) priced at $0.4091 before rebounding. The market managed to rebound and find support at the .5 Fibonacci REtracement level (drawn in blue) priced at $0.4755.
The market has since surged and is now trading at resistance provided by the short-term 1.272 Fibonacci Extension level (drawn in purple) priced at $0.5198. Moving forward, if the buyers can push price action above this resistance level and continue higher they will meet resistance at the 1.414 and 1.618 Fibonacci Extension levels (drawn in purple) priced at $0.5356 and $0.5584, respectively.
If the bullish momentum can persist further higher then we can find more resistance above to be located at the medium termed 1.272 and 1.414 Fibonacci Extension levels (drawn in orange) priced at $0.6057 and $0.6248.
On the other hand, in our bearish scenario, if the sellers regroup and push price action lower we can expect immediate support beneath to be located at the .382 and .5 Fibonacci Retracement levels (drawn in blue) priced at $0.4975 and $0.4755, respectively.
If the sellers continue to drive price action below $0.47 then further support beneath can then be located at the .786 and .886 Fibonacci Retracement levels (drawn in blue) priced at $0.4221 and $0.4032, respectively.
The RSI has recently risen back above the 50 handles to indicate that the bulls are back in control of the momentum within the market. If the RSI continue to rise we can expect price action to continue further higher.
The post Ripple Price Analysis: Ripple Surges by Over 7% Today As Crypto Markets Attempt Recovery appeared first on Coingape.
Source: CoinGape

Switzerland approves the very first cryptocurrency ETP includes Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin

While the whole cryptocurrency community has been waiting for the SEC to approve a Bitcoin ETF, Switzerland has yet again proved that they are one step ahead than any other country in terms of encouraging institutional investors to participate in this space.
According to reports by Financial Times, Switzerland’s main stock exchange has opened its doors for the first ETP tracking multiple cryptocurrencies. SIX Swiss Exchange, based in Zurich, will start the trading of Amun Crypto ETP from next week. The ETP is designed to track an index of the five well-known cryptocurrencies. This includes Bitcoin [BTC], Ethereum [ETH], XRP, Bitcoin Cash [BCH] and Litecoin [LTC].
The division is set to 24.4% XRP, 16.7% Ethereum, 5.2% Bitcoin Cash, 3% Litecoin and the rest will be Bitcoin. The annual management fee for the ETP is 2.4%. Additionally, it is unclear on which fork of BCH they will be opting for since the fork took place earlier this week. The fork has resulted in the network splitting into two, commonly known as BCHSV, which is an upgrade from nChain’s Craig Wright and Coingeek, and BCHABC, which is an upgrade from Bitcoin ABC and Bitmain.
Co-founder and CEO of Amun, Hany Rashwan stated that the exchange-traded product is formed in a way that it meets the standards which are set for a traditional ETP that is extensively opted by the investors. He further added:
“The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments.”
Dag1975, another Redditor said:
“This might encourage the SEC to allow an American ETF. The rest of the world doesn’t wait for US regulators.”
Cryptolicious501, another Redditor said:
“Well if 50% to 60% investors grew a pair and said fck the SEC the bull run would begin… its as simple as that. The fact that the SEC has almost all investors cowering in the corner, “P-p-please, master… SEC when?” bespeaks volumes of investor psychology or lack there of. :/”
The post Switzerland approves the very first cryptocurrency ETP includes Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin appeared first on AMBCrypto.
Source: AMB Crypto

Coinbase Finally Takes RippleLabs’ Coin on Their Custodian Services

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Coinbase Finally Takes RippleLabs’ Coin on Their Custodian Services

Coinbase Custody, the safekeeping arm of the crypto-finance giant, decided to add support for Ripple (XRP) on its institutional-aimed custodian service.

Coinbase Finally Takes RippleLabs’ Coin on Their Custodian Services

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Source: CoinSpeaker