The global cryptocurrency market capitalization has dropped below the $800 billion region for the first time in 691 days or since December 30, 2020. Bitcoin has dipped below the $16K region dropping 5.12% over the past 24 hours, and the second leading crypto asset ethereum shed 7.61% on Monday, dropping below the $1,100 range. Crypto […]
The hearing, titled ‘Why Congress Needs to Act: Lessons Learned from the FTX Collapse’, will be one of the first in which U.S. lawmakers explore what happened with the exchange.
I know people have said that the top address with over 5billion ravencoin is upbit. But how do we know it is them exactly? It shows no transaction history or movement of tokens. If I look on the ravencoin solus top addresses the exchanges are all shown with their name next to it and transaction…
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J.P. Morgan crypto analyst Steven Alexopoulos found silver-linings in the FTX catastrophe, writing in U.S. Mid- and Small-Cap Banks Crypto Banking Weekly: Collapse of FTX a Painful Step Back but Might Prove to be the Catalyst that Moves Crypto Two Steps Forward With FTX emerging earlier this year as a white knight, bailing out troubled…
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To me, BTC feels like the only coin that makes total sense and that I can have conviction independent of the price swings. I'm not saying that other coins don't have merit but I can never fully understand their unique value proposition and place in the market long term. I have to buy into their…
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The original Bitcoin Rainbow Chart is dead! The Bitcoin Rainbow Chart had not been adjusted since 2014 and the blue level marked the bottom in 2015, 2016, 2019, and 2020. But the 2022 bear market proved too strong. F So the creator of the Bitcoin Rainbow Price Chart made a new remodeled version. What is…
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Lido protocol boasts $1 million in daily fee revenue for nearly a month, highlighting its growth in daily active users and Ethereum stakers.
The founder of FTX provoked the withdrawal of his legal team and now faces the possibility of extradition to the United States.
XRP, the native token of the Ripple ecosystem, continues to hold gains despite the market downturn. The token saw an inter-week surge of up to 14.2% from $0.345 to $0.394. While it has dropped from that high, it still holds up to 2.08%. However, it trades dangerously close to its floor price for this week and might lose all its gains soon. Its daily chart is already trending in the red zone. As of writing, XRP is down over 5% but looks on a rebounding path. The entire crypto market has faced a challenging time this week. Almost every token in the top ten market cap list was trading in the red zone. Only XRP managed to keep its gains from last week. However, its trading volume has increased in the last 24 hours, meaning traders have been active. Related Reading: Bitcoin Holders Selling At Large Losses, Is Final Capitulation Here? XRP Looks To Expand Beyond The United States It appears that Ripple [XRP] was more interested in making progress than continuing its legal spat with the US SEC. Stuart Alderoty, Ripple’s general counsel, disclosed that most of the company’s income is no longer derived from the United States. Alderoty made the statement in an interview with CNBC on November 18. The majority of the blockchain payment company’s profits, according to Alderoty, have come from operations outside of the United States. He also acknowledged that Ripple was actively seeking an Irish Virtual Asset Service Provider (VASP) license. Regardless of the status of the SEC case, Alderoty stated, Effectively, Ripple is operating outside of the U.S. It is seeking a virtual asset service provider (VASP) license from the Irish central bank so that it can ‘passport’ its services throughout the European Union via an entity based there. XRP, however, was unable to maintain positive dominance after the disclosure. At the time of publication, CoinMarketCap statistics showed that it had lost 0.76% of its previous 24-hour value. A review of the network’s performance also revealed a sharp decline. Data from the analytics website Santiment showed that XRP’s network growth has decreased to 4,264. This is far from its peak of 9,827 on November 13th. At this point, it signalled that XRP was having trouble luring fresh addresses to the network. XRP Price Analysis The price of XRP is now $0.353, with a $2 billion 24-hour trading volume. XRP has decreased by more than 6% during the past 24 hours. With a live market cap of less than $18 billion, CoinMarketCap now ranks XRP seventh. Over the past several days, there has been a lot of pressure on the price of XRP. The coin encountered heavy opposition around $0.3951, where it created a triple-top pattern, which increased this pressure. Additionally, it has deviated from the 25-day and 50-day moving averages, and the Relative Strength Index (RSI) has moved nearly into oversold territory. Related Reading: Bitcoin Recovery Only Temporary As All Roads Lead To $15,000 Therefore, it is possible that the price of Ripple will keep dropping as sellers aim for a crucial support level of around $0.3100. The negative outlook will be refuted by a move over the $0.3700 resistance level. Featured image from Pixabay and chart from TradingView.com
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