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Ripple Price Prediction: XRP Flashing Buy The Dip Signals, Here Are The Levels To Watch

Ripple tumbled massively from highs above $0.30 only to find support at $0.23. XRP/USD looks forward to a breakout above a key descending trendline as support at $0.23 holds. Ripple, the self-proclaimed cross-border blockchain solution provider fell in tandem with the rest of the cryptocurrency market after a bearish wave swept across the digital space.

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  • Ripple tumbled massively from highs above $0.30 only to find support at $0.23.
  • XRP/USD looks forward to a breakout above a key descending trendline as support at $0.23 holds.

Ripple, the self-proclaimed cross-border blockchain solution provider fell in tandem with the rest of the cryptocurrency market after a bearish wave swept across the digital space. Bitcoin and Ethereum were forced below key areas of support where BTC tested $9,900 while ETH hit pause above $300. XRP on the other hand, tumbled from highs above $0.30 to test support at $0.23.

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Following the establishment of support at $0.23, XRP bulls have been on a mission to correct the negative gradient on the chart and stage recovery above $0.30. The 1-hour chart shows that all instances of recovery have not managed to bring down the resistance at $0.24. Besides, sustaining gains above $0.24 has also been an uphill task.

Meanwhile, it is essential to recognize the strong support at $0.24 (test several since last week). XRP/USD is trading at $0.2335 amid a minor rejection from a descending trendline. At the moment, two areas of interest are the support at $0.23 and the resistance at $0.25. However, the descending channel seems to be the determinant of the expected breakout eying $0.30.

Related reading: Ripple Price Forecast: XRP/USD Rejected At $0.25 Again Is $0.23 The Rendezvous?

XRP/USD 1-hour chart

XRP/USD price chart
XRP/USD price chart by Tradingview

The ongoing breakdown is reflected by the Relative Strength Index (RSI). Support at $0.23 is expected to come in handy amid the drop. Another bounce from the support is accorded the proper volume would pave the way for gains above the trendline hence, setting XRP up for a barrier-breaking mission. It is important to keep the RSI under watch as growth above the midline would signal; a significant price reversal. The 50 SMA is holding above the 100 SMA as a sign of strength from the bulls as well.

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XRP Intraday Levels

Spot rate: $0.2346

Relative change: -0.0023

Percentage change: -0.97%

Trend: Short term bearish bias

Volatility: Low

Ripple Price Prediction: XRP Flashing Buy The Dip Signals, Here Are The Levels To Watch
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Ripple Price Prediction: XRP Flashing Buy The Dip Signals, Here Are The Levels To Watch
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Ripple tumbled massively from highs above $0.30 only to find support at $0.23. XRP/USD looks forward to a breakout above a key descending trendline as support at $0.23 holds.
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Author: John Isige
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

Source: https://coingape.com/ripple-price-prediction-xrp-flashing-buy-the-dip-signals-here-are-the-levels-to-watch/

Blockchain

Bitcoin Halving: Definitive Guide (In Just 5 Minutes)

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Bitcoin halving is often referred to as “Halvening”, it’s a formulated reduction in the reward coins offered to the miners using a predefined blockchain algorithm.

Bitcoin halvings take place once in every four – 4 years approximately, or for every 210,000 block transactions.

The process of halvening started in the year 2012, approximately after 4 years of the invention of bitcoin i.e 2008, but practically bitcoins came into play in the year 2009.

After the first bitcoin halving, the block reward of 50 bitcoins per transaction were reduced to 25 bitcoins per block or transaction, later this reward was further reduced to 12.5 and it has now fallen to 6.25 after halvening in 2020.

The main idea of halvening is to create scarcity for the coins and to control inflation, as bitcoins issuance is limited to 21 million coins as per the idea of Satoshi Nakamoto, inventor of Bitcoin.

The production of 21 million bitcoins involves 32 halvenings, we are now done with two halvenings and this might continue till or come to an end in the year 2140.

Investors from all over the world are excited and waiting for the Bitcoin price to increase, and the demand for bitcoins in the online gambling industry is high. Bitcoins are widely accepted at Bitcoin Casinos as they collect deposits in the form of cryptocurrency from their players.

To know the overview of Bitcoin Halving (Just in minutes), check out the following infographic developed by Abishai James at WinBTC.net in partnership with ACMarket.

bitcoin halving
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Blockchain

Santiment Reveals Top 10 Ethereum Projects by Developer Activity

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Despite record highs for network charges in February, development on some of the industry’s leading Ethereum based projects has continued unabated.

The research stated that development activity is an often-underrated indicator of project success. It demonstrates the ongoing commitment to creating a working product, continuously polishing and upgrading its features, and staying true to the long-term roadmap.

The research focused solely on pure ERC-20 projects that are currently committed to developing on Ethereum. It has used 30-day Github activity to track development status and action.

The Ethereum Project Top Ten

At the top of the list for developer activity in February is the decentralized prediction market platform Gnosis. Despite a 28% slide in GNO token prices for the second half of the month, the Gnosis team has been busy working on the product.

Gnosis launched on the xDai Ethereum sidechain, joined the Open DeFi alliance, and launched a new collaborative grants initiative for Gnosis Safe Apps last month.

Status was the second most developed Ethereum based project with a number of updates for the open source mobile dApp browser and messenger. SNT prices hit a three-year high of $0.125 in February.

Virtual metaverse and NFT protocol Decentraland was third in the list of developer activity with a number of features introduced to improve user experiences.

DeFi synthetic asset protocol UMA came in fourth with two main focuses for the month; getting some major protocols out the door, and there was a collaboration with BadgerDAO.

Coming in at number five for developer action was Chainlink which announced the official mainnet launch of Off-Chain Reporting (OCR). This significantly improves the efficiency of how data is computed across Chainlink oracles, reducing operating costs by up to 90%, it added.

“The most immediate benefit to DeFi and its users will be a 10x increase in the amount of real-world data that can be made available to smart contract applications.”

DeFi Dominates

These were the five most developed platforms in the Ethereum ecosystem for February 2021, and they were dominated by DeFi.

Also featuring in the top ten list was Skale Network, a decentralized modular cloud for running Ethereum-based dApps. MakerDAO, which is consistently in the top ten for development, was in seventh place.

Decentralized data exchange protocol Ocean, computing sharing economy Golem, and analytics platform Santiment itself rounded out the top ten.

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Source: https://cryptopotato.com/santiment-reveals-top-10-ethereum-projects-by-developer-activity/

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Blockchain

Blockchain in Sports Betting

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Wanna enter the Sports betting industry? Are you worried about the transactional data, security and entry charges?

Just relax and lean on to your chair. The amazing features of blockchain technology have reshaped the sports betting industry. It enhances safe and secure transactions as it is an open source decentralized network.

Basically, blockchain offers tremendous features like transparency, fast payouts, speedy transactions, independent in nature, etc. The most effective feature is the player’s account will not be restricted or blocked either personally or professionally  due to extreme winnings.

Blockchain is the most prominent technology ruling today’s betting industry. It’s advancement in the sports industry has laid a pavement for its enormous growth in recent times.

To get detailed information, checkout the following Infographic developed by WinBTC.net in Partnership with MrBet.me.uk.

Blockchain In Sports Betting Infographic
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