Category: Cryptocurrency News

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Crypto value received in Afghanistan surged in the wake of the Taliban seizing power in August 2021, but crypto markets have flat lined under the regime.

Ripple (XRP) has been steadily climbing, adding over 12.50% in the past seven days. This is despite its ongoing case with the SEC coupled with the overall bearish market sentiments.  The bulls have managed to keep the XRP token flying high above $0.48 and are edging to break through its $0.50 resistance. XRP experienced a rocky start last week Wednesday, falling below its $0.44 floor price. However, the coin quickly gained momentum the next day, adding over 13% gains before the end of the trading day. Related Reading: Low Volatility Crypto Market Supplies Surprisingly Stable State Of Fear Ripple Closed Its Best Month In 2022 September was a good month for Ripple as it closed out the best month since the beginning of the year. In the previous week, XRP’s price on the weekly chart approached a significant resistance level at $0.56. However, it was unsuccessful in breaking through that level.  This resistance is a combination of the yellow rising line and the horizontal barrier seen in red. By the way, a weekly red candle following several consecutive green candles is not uncommon by any means.  XRP retested the $0.56 level again on the 29th but couldn’t sustain it. It finally closed the month with a $0.49 high. Upward momentum is anticipated once the price of the asset breaks and sustains a closing above $0.56.  We might see this soon enough unless it drops below the $0.4 support level.  XRP Holds Its End Against BTC XRP’s over 12% weekly gain isn’t the only thing that caught our attention. The asset also held its end against Bitcoin (BTC). Although the XRP/USD exchange rate is down 0.5%, it is up 1.5% to 3% against BTC. In comparison to Bitcoin, the XRP price has increased by more than 50% over the previous three weeks. This puts XRP at levels not seen since the summer of 2021. XRP price movement might have several causes. Of course, the primary driver is the SEC’s legal battle with Ripple, which seeks to recognize XRP as a security. Recent events seem to favor XRP and Ripple, but the final verdict is not yet out. The second, less obvious explanation may be today’s announcement about SWIFT and CBDC tests. SWIFT successfully tested several technologies with CBDC. Financial institutions from France and Germany, including their central banks and commercial counterparts, participated in the experiments. They explored using CBDC worldwide and converting it to fiat if needed. What Next For Ripple Ripple is currently trading at $0.4928 and is set to retest the $0.50 resistance floor. As long as buyers outnumber sellers, this uptrend is likely to continue. However, if the price reaches a critical level of $0.44, bears may come in as they did on September 23. Related Reading: XRP Price Could Get A 23% Boost From This Bullish Formation Breakout The 12% weekly gain demonstrates that buyers are dedicated to taking XRP over $0.50 and $0.55. Achieving this goal will pave the way for the token to go to $0.70 soon. Featured image from Pixabay and chart from TradingView.com

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Despite Bitcoin recording substantial gains in the last few days, an analyst believes it’ll nosedive to $14k. Earlier this week, BTC experienced rocky times before giving the bulls something to cheer about. Despite the coin trading above its $20k resistance, popular trader Il Capo of Crypto believes it won’t hold this position for long. The general sentiments surrounding bitcoin are positive, and investors are optimistic that the price will continue to rise. However, there is a lot of uncertainty regarding how far the price can go up.  Related Reading: Bitcoin Bulls Snap Back With The Bollinger Bands | BTCUSD Analysis October 5, 2022 Analyst Sees BTC Nosediving To 14k Soon. Il Capo of Crypto, a popular crypto swing trader with over 500k followers, shared some bearish sentiments about the coin. In his tweet on October 5th, he mentioned that Bitcoin would reach a local top between $20,400 – $20,100. After that, it’ll show bearish signs and tip over to new lows.  20500-21000 hasn’t been touched and there’s no ltf distribution. Expecting the last leg up soon. Then ltf bearish signs, and reversal to new lows (14k-16k). – Il Capo of Crypto. As of writing, Bitcoin still hasn’t crossed the $21.4k mark and is currently trading at $20,035. It has also recorded a 1.48% decrease in value since yesterday. The market cap of the cryptocurrency stands at $383 billion. Other Experts Think Otherwise On October 4th – 5th, Bitcoin (BTC) demonstrated strength by surpassing the $20,000 barrier after gaining 5% on the day. Some investors speculate the market to rise to $28,000 after the move liquidated $75 million in leverage short (bear) holdings. According to Mustache, the declining channel continues to apply its pressure. However, there may be sufficient strength to challenge the upper channel trendline at $21,500. The price movement on October 4 coincided with better circumstances for global equities markets. The S&P 500 index rose 3.1%, and the tech-heavy Nasdaq Composite climbed 3.3% over the same time period. Surprisingly, morale rose amid job opportunities in the United States falling by 1.1 million in August. The drop was the biggest since April 2020. This indicates that the aggressive tightening of money by the U.S. Federal Reserve could end sooner than expected. Bitcoin may have broken the $20,000 barrier due to widespread optimism. However, this does not mean institutional investors are satisfied with the current price. What Next For Bitcoin It seems like Bitcoin is going through a phase where it is consolidating. There is a possibility that the price will fall back to $19,000 as the bears attempt to take control. If this happens, we might see a retest of the $14,000 level, as Il Capo of Crypto suggested. Conversely, if the bulls manage to push the price higher, we might witness another run towards the $25,000 level. Related Reading: GMX Token, Arbitrum Favorite Get Listed On Binance, What Next? Recent news like the dollar DXY index drop and the Credit Suisse situation might help keep the market bullish. We can only see where the pioneer crypto moves in the coming days. Featured image from Pixabay and chart from TradingView.com

A few weeks ago Reddit u/karamorf created a Snapshot.org voting strategy to allow NFTs to be used as votes in L2 Community DAOs. It allows you to specify a minter account id, and a token contract address to see if wallets are eligible to vote, and if so how many votes. It also features blacklisting…
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After wading through a declining path for weeks, the crypto market and Bitcoin have suddenly entered another phase. The past few days have proved to be favorable for prices in the market. Almost all crypto assets are making impressive northward movements. For the primary cryptocurrency, its moves to reclaim value are commendable. Bitcoin has reached the $20,000 region as it made more gains. In addition, the token finally closed a daily candle across the critical level. Related Reading: Ethereum Marks Three Consecutive Red Weekly Closes, Will Uptober Change Its Trajectory? Also, the altcoins are making significant progress with positive movements during the trading hours of the last few days. Bitcoin Closes Daily Candle Above $20K The $20K is one of the critical levels for Bitcoin. Over the past few weeks, BTC went down below this mark due to the solid bearish pull in the crypto market. But the leading crypto asset is gradually bringing back its value this week. Bitcoin has finally closed a daily candle higher than $20,000 for the first time since September 17. This new feat strengthens the token positively, hovering between $18,000 and $24,000 for some months. Furthermore, this new position is the highest daily close for BTC in almost 24 days. This recent price movement has stirred lots of participants in the crypto space. Many are watching to see the sustainability of BTC on this level. At the time of writing, BTC is trading at around $20,247, indicating an increase of 0.44% over the past 24 hours. Its market cap has grown to $385.8 billion. Also, BTC’s dominance over the altcoins sits at about 40.19%, with a rise of 0.23% within the past day. Most Altcoins Gained With GMX As Top Performer The broader crypto market is feeling the bullish trend too. The altcoin has shown positive value reclaim within the past few days. Most of the altcoins are in the green though some have not shown a massive increase in value over the past day. For the top 10 crypto assets by market cap, Dogecoin (DOGE) and Ripple (XRP) take the lead. They recorded about 6.2% and 3.6% gains in the values. Related Reading: Why The Shiba Inu Price Could See Some Major Upside This Week GMX, the native token of the GMX cryptocurrency, proved to be the top performer among the altcoins over the past 24 hours. The token amassed over 30% gain in its value. It is trading at around $55.27 at the time of press. The performance of GMX could be in connection with the recent announcement from Binance to list the token in its innovative zone. However, EVMOS emerged as the top loser. The crypto lost more than 4% over the past day. The impressive outplay of all the cryptocurrencies pushed the cumulative market capitalization to $960.13 billion. This figure shows an increase of about 0.34% over the past 24 hours. Featured image from Pixabay and TradingView.com

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