Connect with us

Blockchain

Ripple price prediction: XRP rejecting further upside at $0.31

TL;DR Breakdown XRP briefly tested above $0.31. Ripple continues trading in an ascending triangle. Closest support at $0.26. Ripple price prediction for today is bearish as the price has rejected further upside. XRP currently trades at $0.30 on Coinbase and looks to reverse to the $0.26 support. Cryptocurrency heat map by Coin360 The heat map […]

Republished by Plato

Published

on

TL;DR Breakdown

  • XRP briefly tested above $0.31.
  • Ripple continues trading in an ascending triangle.
  • Closest support at $0.26.

Ripple price prediction for today is bearish as the price has rejected further upside. XRP currently trades at $0.30 on Coinbase and looks to reverse to the $0.26 support.

Ripple price prediction: XRP rejecting further upside at $0.31 1

Cryptocurrency heat map by Coin360

The heat map shows a complete market recovery from what was seen in the morning. Both Bitcoin and Ethereum are now in the green with a gain of 3.3 and 2.6 percent, respectively.

Ripple Price Prediction: XRP to move lower once again?

XRP/USD opened at $0.2586 today after a very slow market movement over the past few days. Ripple is testing the $0.31 resistance once again after several attempts to break above it were unsuccessful during the past weeks. The failed attempts indicated a lack of bullish momentum. 

Therefore, for most of the week, XRP/USD continued to move sideways until it found support around the $0.26-$0.27 support area as well as at the several week ascending trend line. The move resulted in another attempt to break higher during the past 24 hours.

Ripple price movement in the last 24 hours

Over the past 24 hours, Ripple has traded in a range of $0.2449 to $0.2803 with a volume of almost $5 billion. Early in the trading session, XRP moved towards the previous resistance of $0.31 with very strong momentum. However, as soon as XRP/USD reached the $0.33 price level, a very clear rejection was made as traders looked to close their longs.

Ripple price prediction 22.01.2021.

Ripple price chart by TradingView

XRP/USD 4-hour chart – Ripple ready to break below $0.26?

As mentioned in our previous Ripple price prediction, the market did reach the $0.30-$0.31 resistance; however, an immediate selling pressure followed. Ripple currently consolidates slightly below the resistance, indicating that another slow retracement is in motion. 

Ripple should show a clear price movement direction soon. If XRP can move below the $0.30 mark, traders should consider a short position. The expectation would be that the market will move towards the ascending trendline, and that previous major support at $0.26 could be made. 

The ascending trendline should be broken as the trading range for XRP has become too small, and a very strong attempt to move higher was rejected. If the price can move towards the $0.26 support from the $0.30 price mark, a move of around 13 percent would be made. Therefore, traders of XRP could book relatively fast short position profit.

Additional support below the $0.26 area is seen at $0.22, which acted as a support on the first week of January. If this support level is reached, the overall trend would look increasingly bearish.

Alternatively, if Ripple does manage to move above the $0.31 resistance as well as the minor resistance made by the recent rejection, the next strong area of resistance is relatively far away – below $0.37. 

Ripple Price Prediction: conclusion  

Ripple price prediction for today is bearish as the market continues to reject further upside, despite an increasingly tighter technical range between the ascending support trend line and the horizontal resistance of $0.31. A break to either side would provide plenty of room for further price move.

Currently, XRP looks to move lower once again. A short position could be made towards $0.26 next support, assuming that the price will break from the ascending support trendline.

For further reading, see our latest news on why Ripple got sued by the Security and Exchange Commission (SEC) or see the latest blog article on why Ethereum Gas Price is so high?

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Blockchain

Polkadot, Cosmos, Zcash Price Analysis: 14 April

Republished by Plato

Published

on

On the back of a significant uptrend, Bitcoin, the world’s largest cryptocurrency, climbed from under $60,000 to over $64,500 in less than 48 hours. At press time, however, the crypto’s bullish momentum seemed to be exhausting itself, with corrections setting in and pulling the value of the larger crypto-market south. The same was evident when the price charts of alts such as Polkadot, Cosmos, and Zcash were taken into account.

Polkadot [DOT]

Source: DOT/USD on TradingView

It’s been just under two weeks since Polkadot, the market’s 7th-largest crypto, was trading at its ATH. While corrections soon followed, thanks to BTC’s latest foray above $60k, market bulls once again spurred the movement of DOT’s price action. In fact, over the last few trading sessions, DOT hiked by almost 10%.

At press time, however, corrections affecting the Bitcoin market were taking the toll on DOT too, with the alt losing value by the hour.

Whether these corrections will amount to a definite trend reversal, however, is a question that cannot be answered at this moment. While the Parabolic SAR’s dotted markers were well under the price candles and suggested bullishness, the Chaikin Money Flow was healthy, despite noting a dip to correspond with the alt’s price fortunes.

The project was in the news recently after Tether announced that it will be launching on Polkadot and Kusama.

Cosmos [ATOM]

Source: ATOM/USD on TradingView

Cosmos, the crypto ranked 31st on CoinMarketCap’s rankings, has had a good last few weeks, with the alt consistently registering higher lows on the back of a sustained uptrend. While ATOM hasn’t been a stranger to brief periods of depreciation, the last few days did see the alt surge by over 17.5% on the charts.

Like DOT, the last few hours did see ATOM correct, however, with the crypto trading over 8% away from its ATH.

While the mouth of the Bollinger Bands was widening at press time to point to some degree of incoming price volatility, the Awesome Oscillator pictured positive market momentum on the histogram, despite some bearish signals.

The development team behind the project activated the Inter-Blockchain Communication (IBC) protocol following a vote by members of the Cosmos ecosystem recently.

Zcash [ZEC]

Source: ZEC/USD on TradingView

One of the crypto-market’s leading privacy coins, Zcash has been on a steady uptrend for the past week, with the same punctuated by a set of brief price falls. One of these periods of depreciation was underway at press time after BTC failed to assert itself above the $64,500-mark. That being said, ZEC was still up by almost 10% in just over 48 hours on the charts.

Zcash’s indicators were very ambivalent, however. The MACD line was diverging away from the Signal line following the brief possibility of a bullish crossover. Finally, the Relative Strength Index exhibited buyer’s strength, with the same very close to the overbought zone.

Zcash was in the news recently after the ECC announced Halo Arc for the “next generation of Zcash.”


Sign Up For Our Newsletter


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/polkadot-cosmos-zcash-price-analysis-14-april

Continue Reading

Blockchain

Centurion Invest Launches Copy Trading System For CIEx Traders

Republished by Plato

Published

on

Centurion Invest Launches Copy Trading System For CIEx Traders

Advertisement &  & 

Centurion Invest Exchange (CIEx) has launched its copy trading system for its traders. Notably, both novice and intermediate traders can use the new system to boost their earnings, especially in a volatile crypto market. Interested traders can manually copy trades from experienced traders and mutually benefit.

According to H.E. Ali Kassab, Chairman of Centurion Invest, the platform has 25 experienced traders to help cryptocurrency traders make informed and proper decisions.

“Cryptocurrencies are different from other asset types since the prices are volatile, making it much harder for junior traders and investors to establish proper investing strategies. Our copy trading service with over 25 expert traders onboard provides an immediate and convenient trading solution. CIEx novice traders can start trading with an immediate $100 bonus and instantly turn it into profit. As well as accessing the best copy trading feature on CIEx, including trade signals and guaranteed closing with profit, they can also opt for monthly secured income traded funds throughout our investment plans tailor-made for all users,” noted Kassab.

The company has set out a mechanism to incentivize traders who successfully participate in the copy trading system. Kassab further noted that the decentralized nature of the Centurion Invest copy trading platform enables traders to earn by both actively trading and through passive income. Vouching for the platform’s sustainability, Kassab noted that the developers made sure the new platform offers enhanced privacy and more robust security. “Depositing funds and accessing spot and futures trading are made effortless so that novice traders can gain confidence rapidly,” he explained.

By leveraging the power of blockchain technology and human expertise, Centurion Invest Exchange aims to help traders make more profit, especially from the ongoing rally.

Advertisement &  & 

In a bid to attract more customers to its platform, Centurion Invest has put in place different mechanisms. One, the company launched a referral program where anyone stands a chance to win bonuses from referring friends. Currently, the platform is running a limited offer to new customers who register an account with the exchange, whereby one stands a chance to win 100 USDT.

Notably, the company strategically launched its cryptocurrency wallet dubbed CI Wallet last month. The wallet provides key features such as Spot Trading, Futures, and Margins. For anyone interested in subscribing to the Centurion Invest Exchange services, the platform supports Visa, MasterCard, bank transfer, and also through top digital assets.


Ledger Nano X - The secure hardware wallet


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/centurion-invest-launches-copy-trading-system-for-ciex-traders/

Continue Reading

Blockchain

With Berlin looming, how is Ethereum’s price faring?

Republished by Plato

Published

on

The 14th of April 2021 is a historic day for the crypto-community, with the Berlin ETH hard fork expected to go live, alongside a Coinbase IPO valued at over $100 billion. Ergo, it does not come as a surprise that altcoins in the top-25 are rallying, alongside Bitcoin’s run to its latest ATH on the charts.

A top metric that underlines how the current altcoin rally is in response to these two events is increased on-chain activity. For Ethereum, the top metric is the number of non-zero addresses, with the same climbing to touch a new ATH of 57 million recently, based on data from Glassnode.

Here's why the altcoin rally is on for ETH, EOS, ADA, XLM, LTC

ETH Number of Non-zero Addresses || Source: Twitter

Based on the attached chart, the number of non-zero addresses on the Ethereum network has increased consistently with the price and the trade volume. In addition to the number of non-zero addresses, there has been an increase in major activity and metrics on ETH’s network, just as it has been so on Bitcoin’s network.

Here's why the altcoin rally is on for ETH, EOS, ADA, XLM, LTC

ETH’s increasing network activity || Source: Twitter

As can be observed from the attached chart, despite a 63% correlation between ETH and BTC, on-chain activity has risen exponentially for both assets. The bullish sentiment among traders on top spot exchanges is visible in the Options market as well. ETH Option skews have been decidedly bullish with very little variability in Skew.

What’s more, the implied volatility is climbing steadily for ETH too. What these metrics highlight are a) The strong demand for Ethereum Options and, b) Large ETH call premiums were blocked in anticipation of the price rally post the hard fork.

Here's why the altcoin rally is on for ETH, EOS, ADA, XLM, LTC

ETH Options || Source: Twitter

And, it’s not just Ethereum. Besides ETH, top altcoins like ADA, XLM, LTC, and EOS are rallying in response to these updates and Ethereum’s price rally.

EOS’s trade volume, for instance, was up by nearly 50% in a 24-hour window, while the price was up by over 16%. One of the top EOS price drivers has been the fact that one of EOS’s top markets is Coinbase Pro.

Similar on-chain metric updates were noted for Cardano. On the back of two price rallies over the past month, Cardano’s price, at press time, was at a level where 100% of its HODLers are profitable. Similarly, in the case of XLM, the trade volume has been anticipated to increase since Bitcoin’s price rally gained steam. In fact, the trade volume was up by over 40%, with the price rallying with Ethereum. It is likely that the price rally driven by today’s events and Bitcoin’s run to its next ATH may leave the rally less than sustainable, however.


Sign Up For Our Newsletter


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/with-berlin-looming-how-is-ethereums-price-faring

Continue Reading
Blockchain4 days ago

How NFTs, DeFi and Web 3.0 are intertwined

Blockchain5 days ago

Altcoin Season 2021 Booming as BTC Dominance Hits 2-Year Low: The Weekly Crypto Recap

Blockchain5 days ago

11% Of Business In Spain Use Blockchain Technology, Report

Blockchain4 days ago

XRP Price Analysis: 10 April

Blockchain5 days ago

Kava 5.1 Upgrade Aims to Improve Earnings for Bitcoin Lending

Blockchain4 days ago

Has the rally ended for altcoins like LINK, ADA, and NPXS?

Blockchain2 days ago

By The Numbers: The Rate Bitcoin Must Climb To Reach $100K By July

Blockchain5 days ago

Coming this Sunday April 11th to New to the Street

Blockchain1 day ago

Whole Earth Coin (WEC) Set for IEO to Inject New Life Into Aging Infrastructure

Blockchain2 days ago

Bitcoin’s time has come: TIME magazine to hold BTC on balance sheet

Blockchain4 days ago

Kraken Daily Market Report for April 09 2021

Blockchain2 days ago

NYSE celebrates historic ‘first trades’ with NFT series

Blockchain5 days ago

Enterprise-level partnerships send VeChain (VET) price to new highs

Blockchain4 days ago

Watch these key technical levels as Bitcoin price nears $61,800 all-time high

Blockchain5 days ago

XRP, VeChain, Enjin Price Analysis: 09 April

Blockchain5 days ago

Why this CEO argues against KYC norms for Bitcoin

Blockchain5 days ago

SingularityNET (AGI) rallies 1,000% as industries aim to merge AI with blockchain

Blockchain4 days ago

Uniswap, Monero, Ethereum Classic Price Analysis: 10 April

Blockchain5 days ago

SEC approves Exodus wallet for Regulation A stock offering

Blockchain4 days ago

Oasis Foundation announces implementation of Tidal DeFi insurance platform

Trending