TL;DR Breakdown Ripple price analysis suggests fall to $1.00 markXRP faces resistance at the $1.15 markThe closest support level lies at $1.00 The Ripple price analysis shows that despite rising to the $1.140 mark over the last 48-hours, XRP was unable to breakthrough the consolidation channel. The rejection has caused the price to spiral downwards falling back towards the $1.00 support level The broader cryptocurrency market has observed a mixed sentiment over the last 24-hours as major cryptocurrencies are split between bullish and bearish price movements. Major players include AVAX and ATOM recording a 15.13 and a 3.19 percent incline respectively. Meanwhile Hedera Hashgraph and NEAR Protocol record an 11.18 and a 7.52 percent decline respectively. Ripple price analysis: Bears take over Technical indicators for XRP/USDT by Tradingview Across the technical indicators, the MACD is bullish, as expressed by the green histogram. The indicator exhibited a crossover on September 11 and has been bullish since. While the momentum increased in the first 24 hours after the crossover, the resistance at the $1.140 mark caused the price action to stagnate, and the momentum dwindled. Since then, the bullish momentum has remained very low with a steady decline observed in recent hours. The 26-EMA is moving upwards at press time suggesting bullish momentum. However, the 12-EMA moves downwards suggesting an increasing selling pressu...
If Shiba Inu is a ‘shitcoin,’ why are exchanges still listing it
The era of meme-crypto currencies seems to be far from over. While many rip-offs rallied on the back of Dogecoin‘s success, none have achieved a feat as considerable as Shiba Inu. Ranked 55th on CoinMarketCap, the joke coin already has billions in market capitalization. However, another measure of its success lately has been its debut
Elrond(EGLD) Price Could Smash $500 With Fewer Efforts Within This Bull Cycle!
The post Elrond(EGLD) Price Could Smash $500 With Fewer Efforts Within This Bull Cycle! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto GuideWhy Elrond Could Be Better Than The Other Blockchains Elrond is a blockchain platform with an aim to offer faster transactions speeds by sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, De-Fi, and IoT. The smart contracts execution platform is capable of 15,000 transactions per second, six-second …
Financial institutions continue to flock crypto – Binance
TL;DR Breakdown More financial institutions continue to turn to crypto.Zhao calls crypto multiasset class technology. CEO of Binance Crypto Exchange, Changpeng Zhao, has said that traditional financial institutions and investors have continued flocking cryptocurrencies in recent times. Zhao said that most of these financial institutions have their sight into Bitcoin. He noted that the crypto space has seen a growing number of traditional monetary institutions turning to it. Why financial institutions continue to turn to crypto The Binance CEO spoke during an interview with South China Morning Post while sharing his experience and views on trends in the crypto space. Zhao said traditional financial institutions and investors have already seen the benefits of cryptocurrencies, which he explains as why these firms are flocking cryptocurrencies. “The financial institutions are coming big time. We also see the traditional financial services from some of the bigger names moving into the space.” While speaking, Zhao said Bitcoin is also a multiasset class technology which he says makes leading financial institutions view it as an investment instrument. Zhao opined that digital assets would play a massive role in the future monetary network. Zhao speaks on Binance regulatory issues The Binance chief, during his interview, spoke on the exchange regulatory woes as watchdogs from UK, Hong Kong, Japan, and Singapore have warned the excha...
Why Bitcoin Could Rise To $53K, Here Are The Risks Bulls Must Overcome
Bitcoin is moving sideways in lower timeframes as the crypto markets continue to run without a clear direction. The first cryptocurrency by market cap trades at $47,837 with a 1.2% loss in the daily chart. BTC’s price has been moving in a tight range during the week, unable to break above $48,500. Data from Santiment suggest an increase in the amount of BTC’s supply exchanging hands since the beginning of September. This suggests that investors could be taking more profits as Bitcoin tries to take previous highs contributing to the bears’ attempts to take over the market. As seen below, the BTC Token Circulation metric can be used to find a correlation between the price action and the amount of supply exchanging moving on the network. The firm said: Bitcoin now sits at $48.1k following a volatile couple of weeks to open September. Notably, the amount of unique tokens moving on the $BTC network, known as token circulation, is up big. Wednesday saw 187.91 unique coins moved, the most since July 29. For Analyst Justin Bennet, BTC’s price broke its upward trend during last week’s selloff. In that sense, the analyst found similarities between this event with May’s price action, when Bitcoin experience the first of several capitulation events. Related Reading | Bitcoin Suffers As Mid Caps Cryptos Establish Market Dominance With Wide Margin The $48,000 to $50,000 region is critical for the bulls, if BTC’s price managed to ...
On-Chain Data Shows Bitcoin Whales Hold Fort Despite Recent Dips
On-chain data shows Bitcoin whales haven’t budged despite the recent dips, and are rather continuing to accumulate more. Whales Continue To Accumulate More Bitcoin As pointed out by a CryptoQuant post, the Bitcoin sum coin age (SCA) indicator has been going up, showing long-term holders are continuing to accumulate. The SCA is a BTC metric that tells us about the distribution of long-term holders. It’s calculated by taking the product of the UTxO (Unspent Transaction Output) alive days and the UTxO value. The “age” of a coin is measured in “coin days.” When a certain amount of BTC remains unspent for a day, it accumulates some fraction of a “coin day.” One whole Bitcoin remaining unspent accumulates one coin day. Similarly, if half a coin remains unspent for a day, it picks up half (0.5) a coin day. With the help of the indicator, it becomes possible to tell what the sentiment among long-term holders is. A dip in the metric’s value would suggest that whales have started moving their coins, while an increase would imply they are continuing their accumulation. Now, here is a chart that highlights the trend of the SCA vs the BTC price: The Bitcoin SCA seems to be climbing straight up | Source: CryptoQuant As you can see in the above chart, the SCA had a minor dip late July, but since then the indicator has been going up in a straight line. Related Reading | Bitcoin T...