Category: Cryptocurrency News

Ethereum extended decline below the $1,820 support against the US Dollar. ETH tested $1,730 and remains at a risk of more downsides in the near term. Ethereum gained bearish momentum and declined below $1,820. The price is now trading below $1,800 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD (data feed via Kraken). The pair is struggling and remains at a risk of more losses below $1,700. Ethereum Price Gains Bearish Momentum Ethereum remained below the $2,000 resistance zone and 100 hourly simple moving average. As a result, there was a sharp bearish reaction below the $1,920 support. The bears were able to push the price below $1,820 and $1,800. The price declined over 10% and traded below $1,750. A low is formed near $1,727 and the price is now consolidating losses. On the upside, an initial resistance is near the $1,770 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,911 swing high to $1,727 low. The next major resistance is near the $1,820 level. It is close to the 50% Fib retracement level of the recent decline from the $1,911 swing high to $1,727 low. The main resistance is now forming near the $1,920 level. There is also a key bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD. A close above the $1,920 level could open the doors for a steady increase. Source: ETHUSD on TradingView.com In the stated case, ether price could rise towards the $2,000 resistance zone. Any more gains may perhaps send it towards the key $2,085 resistance zone. More Losses in ETH? If ethereum fails to recover above the $1,820 resistance, it could continue to move down. An initial support on the downside is near the $1,730 zone. The next major support is near the $1,700 level. A downside break below the $1,700 level might call for another sharp decline. In the stated case, the price could dive towards the $1,650 level. Any more losses may perhaps call for a move to $1,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 40 level. Major Support Level – $1,720 Major Resistance Level – $1,820

The total supply of XRP circulating in the market is now at 48.3 billion from the total XRP supply of 100 billion. XRP whales currently hold from 1 million to 10 million XRPs and are on a massive hoarding spree with an uptick in supply stretching out to a two-month high. These active XRP whales currently chalked up over 6.12% of the total XRP. Despite the collapse of the crypto market, Ripple whales have resurfaced to be increasingly daring and active.   According to Santiment, “XRP Network whales holding between 1M and 10M $XRP have collectively been accumulating, and now hold their highest percentage of the asset’s supply in 2 months.” This is the most active tier of non-exchange holders who are currently keeping 6.12% of all $XRP. Suggested Reading | Lido (LDO) Sheds 58% Of Its All-Time High TVL At $11 Billion XRP Trades At $0.40; Now Sixth Largest Crypto XRP, Ripple’s cryptocurrency, has adjusted more than 50% in the last two months, with the crypto market going on a downward spiral. The crypto is currently the sixth largest digital asset by market cap and is trading at $0.40. Brad Garlinghouse, Ripple CEO, attended the World Economic Forum held in Davos, Switzerland, and expressed the possibility of launching an initial public offering (IPO). The plan’s all set once they have put the lid on the legal dispute with the U.S. Securities and Exchange Commission (SEC). Ripple is very optimistic about the legal battle they have with the SEC, which has been going on for 155 months. The commission has been dragging this lawsuit for the longest time. Ripple has been accused of selling securities that aren’t registered and XRP tokens, but they are firm with their stance in the courts. Industry experts are optimistic that everything will turn in Ripple’s favor. XRP total market cap at $19.11 billion on the weekend chart | Source: TradingView.com Ripple Soldiers On Despite the headaches of the regulatory proceedings, Ripple soldiers on in the international market. XRP has dipped by nearly 90% from its all-time high values but forges on. Quarter 1 of 2022 revealed XRP cross-border payments of $8 billion, dubbed eight times larger when compared to the liquidity settlement in Q1 of 2021. By looking at the trading action performed since the beginning of 2022, it’s apparent that XRP whales have been amassing or hoarding XRPs by purchasing at a discounted price. Suggested Reading | Ripple (XRP) Plunges To $0.43 With Bears In Full Swing The SEC has informed the court of their intent to file for the opposition in response to the amicus request by the XRP holders, wherein they requested a time extension to June 7 in light of the incoming holidays and other deadlines. The application filed by John Deaton, attorney of the XRP holders and founder of CryptoLaw, was dismissed in favor of the commission. Meanwhile, more than six crypto holders were given the amici status, which allows them the privilege to assist the court. Featured image from The Daily Hodl, chart from TradingView.com

The Into The Cryptoverse US Report by KuCoin — a global cryptocurrency exchange — revealed striking statistics regarding the positive dynamics of blockchain and digital currency adoption in the United States. Findings show that adults and younger generation users are leading the integration of cryptocurrencies into daily financial operations, the report indicates. The survey provides important data related to US user investment sentiment, which has added up to 5% of new adults to the industry compared to the fourth quarter of 2021. Over 8 million new users have entered decentralized space, constituting a total of 50 million users across the US, or as much as 27% of adults aged 18-60. The figures indicate that such a number of users have traded cryptocurrencies in the past six months or are intending to do so. Demographic shifts have also been identified, as up to 35% of investors are women as of the first quarter of 2022, a 5% increase over a quarter. During the same period, as much as 47% of female investors were surveyed, which is still 17% lower than male users. Overall interest in cryptocurrencies is also on the rise in the United States. A total of 59% of those surveyed stated that they are willing to increase their investments, largely due to the narrowing generation gap, which has seen a 7% increase in 42–50-year-old users. The growing yields of digital currencies are largely at play in such increases, as the share of users earning in excess of $100,000 a year has grown by as much as 7%. The growing degree of crypto education is a contributing factor, as evidenced by the survey, which revealed that up to 58% of crypto investors were familiar with digital assets by the first quarter of 2021, with up to 71% of young users claiming to receive information from social media. Investors in the United States are turning to digital currencies as a means of improving their quality of life and earning potential, as evidenced by 37% of respondents. Millennials, Generations Z and X are among the leaders of such opinions. As many as 48% of US crypto investors consider cryptocurrencies to be “the future of finance,” which is the top reason to invest across all age groups. The growing number of users entering decentralized space is being determined by diminishing incomes and increased popularization of digital currencies through social media and online educational efforts. The KuCoin Into The Cryptoverse US Report is an important source of statistical data on blockchain penetration, which is in line with earlier releases related to Germany, Africa and Brazil.    

The government in crisis-stricken Sri Lanka has said it will print more money and cut spending on infrastructure as part of an attempt to pacify the restive population. The government, however, concedes that printing more money will likely see the inflation rate rise to 40%. Printing More Money as the Solution After defaulting on its […]

So understand this. Normally I wouldn't ever say "don't buy the dip". But mark my words, I've been invested in this market going on 7 years, and I've literally and figuratively almost seen it all to a point I can sense when shit is about to stink really bad. I do not know what is…
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You know for long term scalability part of the process has to be for people to be able to buy in at a discount, & last time ETH was affordable I was just financially getting my shit together & only 24 years old. & had my first real long term relationship and now that we’re…
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Would be owner Elon Musk plans to shake the crypto spammers out of Twitter, disputing their claims that fake accounts only account for 5% of the total.

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Bitcoin spiked below the key $28,500 support zone against the US Dollar. BTC is declining and might continue to move down towards the $27,500 support. Bitcoin is moving lower and facing a major resistance near the $29,600 zone. The price is now trading below the $29,000 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $29,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it settles below the $28,500 support. Bitcoin Price Faces Selling Pressure Bitcoin price remained below the key $30,000 resistance zone. BTC started a fresh decline and there was a sharp move below the $28,500 support zone. The bears pushed the price below the $28,000 level. The price even tested the $27,500 support and a low is formed near $27,505. However, there was a strong recovery and the price climbed above $28,500. The bulls pushed the price above $29,000, but they struggled near $29,600. There is also a major bearish trend line forming with resistance near $29,600 on the hourly chart of the BTC/USD pair. Bitcoin traded below the 23.6% Fib retracement level of the upward move from the $27,505 swing low to $29,749 high. It is now trading below the $29,000 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $29,250 level. The next major resistance is near the $29,600 level and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com The main resistance sits near the $29,750. It is near the 50% Fib retracement level of the upward move from the $27,505 swing low to $29,749 high. A clear move above the $29,750 resistance level might start a strong increase. In the stated case, the price may perhaps rise towards the $30,600 resistance zone. More Losses in BTC? If bitcoin fails to clear the $29,600 resistance zone, it could continue to move down. An immediate support on the downside is near the $28,650 level. The first major support is near the $28,500 level. A downside break below the $28,500 support might send the price further lower. In the stated case, the price may perhaps revisit the $27,500 support zone. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $28,500, followed by $27,500. Major Resistance Levels – $29,600, $29,750 and $30,600.