Category: Cryptocurrency News

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XRP price slows down after several days as price remains bullish despite showing weakness. XRP trades above 50 and 200-day Exponential Moving Average as price struggles to regain bullish signs with the emergence of bearish divergence.  The price of XRP continues to hold strong and could retest $0.42 support.  The price of Ripple (XRP) continues to hold strong as the price aims to maintain its bullish price movement against tether (USDT). Ripple (XRP) and other crypto assets enjoyed a relief bounce in previous weeks that saw the crypto market cap looking good for cryptocurrencies across the industry, with many producing double-digit gains. XRP gained the most attention as the price moved with so much strength. (Data from Binance)  Related Reading: Stellar Soars 6% In Last 30 Days – Can XLM Keep On Shining This Week? Ripple (XRP) Price Analysis On The Weekly Chart Despite having a tough time throughout the year with the price falling to a low of $0.3 due to the law suite XRP was having, the price in recent times has responded favorably as the price has remained strong for some time now. After the price of XRP rallied to an all-time high, the price had a tough time dropping to a weekly low of $0.3, where the price held strong after forming support, and this region looked like a demand zone for prices.  The price of XRP bounced off from this region of $0.3 as the price rallied to a weekly high of $0.52 as the price faced resistance to breaking higher as the price retraced to $0.48. XRP’s price looks good as its bullish structure is intact despite showing some weaknesses due to the market uncertainty and Bitcoin price retracing to a key support area. The price of XRP needs to hold above $0.42 to maintain its bullish structure, a break below that range would mean the price of XRP retesting the low of $0.35-$0.3 Weekly resistance for the price of XRP – $0.6. Weekly support for the price of XRP – $0.42. Price Analysis Of XRP On The Daily (1D) Chart In the daily timeframe, the price of XRP continues to trade above the 50 and 200 Exponential Moving Average (EMA) as the price holds strong despite ranging as the price struggles to break above the $0.6 resistance. The prices of $0.47 and $0.43 correspond to the prices at 50 and 200 EMA acting as resistance for XRP. The price of XRP needs to hold $0.47 and $0.43 for the price to remain bullish and safe despite showing a bearish divergence on the daily timeframe; a drop below $0.43 and lower could trigger a retracement to a region of $0.35 due to panic selling with investors and whales waiting for such an opportunity. Daily resistance for the XRP price – $0.55-$0.6. Daily support for the XRP price – $0.43. Related Reading: ApeCoin Crashes 7% Following SEC Probe Against Yuga Labs Featured Image From Crypto News, Charts From Tradingview

Anybody tried depositing their Optimism ETH to Binance? Can it be withdrawn straight to mainnet? My plan is to send my Optimism ETH (from metamask) then withdraw it to L1 mainnet since it is much cheaper than using bridges (i.e., Hop). Thanks! submitted by /u/Carlshuu [link] [comments]

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Bitcoin was trading marginally higher on Wednesday, as markets prepared for the upcoming U.S. inflation report. Cryptocurrencies have mostly consolidated ahead of the release, which many believe could trigger further action from the Federal Reserve Bank. Ethereum was also higher, as the token rose above $1,300. Bitcoin Following two consecutive days of declines, bitcoin (BTC) […]

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Since the beginning of this month, Stellar (XLM) has increased by 6%, continuing its remarkable monthly performance. Coingecko reports a 4-day performance for XLM of 5.3%, while charts show an impressive 31.50% rise over the previous 30 days. This price change is even more unexpected when considered in light of this. Santiment recently took to Twitter to reveal a rather unsettling image for the cryptocurrency community. “There has been quite a lot of #bloodinthestreets. Unless your portfolio mainly consists of $BNB, $XLM, $QNT, $MKR, $HT, or other scarce positive #altcoins the past 30 days, you’re down. This reflects in the shrinking group of individuals still interested in #cryptocurrency,” Santiment tweeted. 📉 There has been quite a lot of #bloodinthestreets. Unless your portfolio mainly consists of $BNB, $XLM, $QNT, $MKR, $HT, or other scarce positive #altcoins the past 30 days, you’re down. This reflects in the shrinking group of individuals still interested in #cryptocurrency. pic.twitter.com/4t0GQXj9oG — Santiment (@santimentfeed) October 10, 2022 The question of whether or not XLM can sustain its recent gains is intriguing. In spite of this, a rise of this magnitude is usually followed by a severe reversal as investors’ fears replace their excitement. Related Reading: Huobi Token Spikes Nearly 30% In Last 24 Hours As HT Seen Rising On Revival Plans Stellar: What The Indicators Suggest There are a number of signs to keep an eye on. And by “indicators,” it means the CMF, momentum, and bull-bear power. These metrics reveal the direction of the market, and the recent price surge has not yet altered investor opinion about the token. Chart: TradingView The money flow index of Chaikin is still heavily bearish, although bulls are testing a breach towards the positive top half. According to the bull-bear power indicator, bears have lost considerable impetus. This is related to the price increase during the past month. The momentum indicator revealed a modest increase in bullish momentum followed by a slight decline. We may infer that buying enthusiasm for the cryptocurrency is currently high, but purchasers should be warned that a drop may occur in the coming days or weeks. Slowing Down The Decline The current rise is supported by the $0.0996 support line, which has halted the crypto market decline from May to June. This has served as the base from which the bulls have leveraged the current rally. Currently, the market is still being supported by the bulls. As evidenced by the persisting pullbacks in XLM’s price, the current price action indicates that the correction phase is still in its infancy and that bulls continue to rule the market. As of the time of writing, the token is trading in the green and may rise again following earlier pullbacks and a minor price decline. Related Reading: Why SHIB Price Lost Its Bullish Energy After Shiba Eternity Games’ Release XLM market cap at $2.9 billion on the daily chart | Featured image from Steemit, Source: TradingView.com

Siu noted that the Metaverse won’t be a single or central entity but a combination of several metaverses.

Bitcoin has been going sideways since the middle of June till now, 12 October. This period very much reminds me of that same period in time during the 2018 bear, just before final capitulation. Let me elaborate. First, you see the comparison of the low, percentage drawdown, weeks since all time high, and break moment…
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European Parliament’s economic committee has backed the adoption of the comprehensive Markets in Crypto Assets (MiCA) regulation. It has also supported the introduction of rules for tracing cryptocurrency transfers, part of the latest EU anti-money laundering push. European Union’s MiCA Crypto Law Passes Another Hurdle Before Final Adoption The European Parliament Committee on Economic and […]