Terra CEO Do Kwon said that the shutdown is temporary and that he will find a way to revive LUNA. After only a few hours, he had his proposal. Do Kwon officially spoke – Terra Ecosystem Restoration Plan LUNA and UST have experienced the most disastrous days in the crypto space. True to the…
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Please be advised that a variety of exchanges and crypto service sites are currently under direct attack. Some sites, such as QuickSwap, are confirmed as compromised. Sites that have been reported as being at risk of being compromised include DexTools, CoinGecko, EtherScan, and QuickSwap. Current recommendation is that if you are able to disconnect your…
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Veteran investor Mark Mobius, the founder of Mobius Capital, has cautioned cryptocurrency traders against using the “buy the dip strategy.” He expects the price of bitcoin to plunge further with some temporary relief happening at $20K. Mark Mobius’ Warning and His Bitcoin Price Prediction The founder of Mobius Capital Partners, Mark Mobius, warned crypto traders […]
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As the post title says, we keep seeing all these people crawling out of the woodwork to say “see? I told you 3 months ago that LUNA/UST was going to crash, but no one listened”. They say hindsight is 20/20, so maybe all the signs are easier for people to see when it's already happened,…
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For the past few days I’ve been reading the whitepaper, went through the architecture, interacted with the community, deployed an app and I’m not seeing why everyone is viewing this project with such bad eyes. From an engineering point of view the project makes sense IMO and it works but I see these “crypto influencers”…
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The success and mass adoption of the Metaverse relies on the ability of users to build their own. In other words, utilizing metaverse-as-a-service technology.
Tesla and Spacex CEO Elon Musk says that dogecoin has potential as a currency. However, his Twitter buyout deal has been put on hold “pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.” Elon Musk Says Dogecoin Has Potential as a Currency Tesla CEO Elon Musk has made another […]
The price of XRP has nosedived substantially to a level that it last touched almost 70 weeks ago. At the current time, XRP’s price have been trading near its immediate support level of $0.36. Bitcoin continues to be on shaky grounds as the coin tried recovering by moving past the $30,000 mark. At press time, the coin fell back to $29,700. The majority of the industry’s altcoins have continued to extend losses today. The bearish pull remains strong in the market at the time of writing. Over the last 24 hours, the market has bottomed out and that is why a chance of price revival can still be considered. The technical outlook of the coin shows that a relief rally could be on the charts, however, the macro market is still fragile. Strength from the broader market would be needed as well so that sellers don’t outnumber buyers in the market forcing prices to fall again. Price Analysis: XRP One Week Chart XRP was trading at $0.42 at the time of writing. The coin had presented signs of revival because the coin soared by 10% over the last 24 hours. It is still quite uncertain if XRP will manage to trade above its nearest support line of $0.36. A break below which can cause the coin to tumble to a low of $0.13. With buyers returning, XRP might attempt to trade above its immediate resistance of $0.56. XRP also flashed an equal high on the one week chart, this pattern is connected to bullish price action in the market. Toppling over the immediate resistance can push XRP to $0.68, staying above which can help invalidate the bearish thesis in the market. The volume of XRP traded had increased and the bar was red which depicted bearishness. Technical Analysis XRP had attempted to make a price revival but continued selling pressure have tired the bulls out. The same is reflected on the 20-SMA indicator. The price of XRP was seen below the 20-SMA line. This reading signified sellers were driving the price momentum on the market. On the Relative Strength Index, after facing an intense sell-off across the market, buyers re-entered. XRP was no longer seen in the oversold zone on the RSI. After the recovery though, XRP again fell prey to the bears and RSI flashed a downtick signifying increased selling pressure. Related Reading | Crypto Shorts See $240M Flush As Bitcoin Rebounds Back Above $30k With the price revival, XRP’s technicals have displayed an onset of positive price action. It is however too early to say if it is a beginning of a shift in the price action. Moving Average Convergence Divergence underwent a bullish crossover on the four-hour chart. The indicator flashed growing green histograms above the half line and that means bullish momentum for the coin. XRP also could witness a northward push in prices because the Chaikin Money Flow was seen above the zero-line. This indicator displays the number of capital outflows and inflows and according to the above chart, capital inflows exceeded outflows at the time of writing. Related Reading | Bitcoin Recovers Above $30,000, Has The Bottom Been Marked?
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