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Ripple price prediction: XRP to go below $0.25, analyst

TL;DR Breakdown Ripple price prediction expects a drop below $0.25. Strong resistance lies at the $0.285 mark. Strong support lies at the $0.272 mark. Ripple is under strong bearish pressures, and the possibility of attaining the bull-run high of $0.70 seems to be drifting further away. Ripple peaked for the 24-hour chart at $0.3029, but […]

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TL;DR Breakdown

  • Ripple price prediction expects a drop below $0.25.
  • Strong resistance lies at the $0.285 mark.
  • Strong support lies at the $0.272 mark.

Ripple is under strong bearish pressures, and the possibility of attaining the bull-run high of $0.70 seems to be drifting further away. Ripple peaked for the 24-hour chart at $0.3029, but the price level could not be sustained as the cryptocurrency quickly went down to establish the 24-hour low of $0.2611. At the time of writing, Ripple stands at $0.2796.

The strong bearish pressures that have griped the cryptocurrency do not appear to wane away. Out of the total 26 technical indicators, 14 are standing at sell, whereas ten are neutral indications and four buy indications. Out of the total oscillators, nine neutral, with two buy and zero sell indications were recorded. Out of the 17 moving averages are 14 at sell with one neutral and two buy indications. 

Ripple price prediction: What to expect?

In his Ripple price prediction, analyst DHF states that Ripple appears to be entering an accumulation stage. Before the 2020 high of the cryptocurrency market, Ripple had been operating in an accumulation stage. Per the analyst, the cryptocurrency successfully completed the expansion, distribution, and contraction stages indicating that Ripple will be heading towards another accumulation. In the accumulation stage, Ripple’s price action will be relatively stable, with no possible breakouts. The analyst believes the accumulation channel will lie between $0.2561 and $0.1981. 

Ripple price prediction: XRP to go below $0.25, analyst 2
Ripple price prediction by DHF

DHF expects Ripple to continue in the narrow channel for a while. Unless the Ripple Lab’s Security Exchange Commission (SEC) lawsuit is settled or Bitcoin brings strong bullish pressure to the market, Ripple is unlikely to be interrupted. The moving average convergence/divergence (MACD) and relative strength index (RSI) are also bearish for the cryptocurrency. Per the analyst, Ripple has been following the double exponential moving average (DEMA) – in green – closely while the Exponential Moving Average of 50 (EMA50) is acting as resistance for the cryptocurrency. 

Analyst Orlin Myer has identified an ascending triangle formation in his Ripple price prediction. Although the formation is bullish and leans more towards a bullish breakout, Ripple appears to have broken out of the triangle towards the downside. Per the analyst, the beginning of Ripple’s final leg can be seen. If Ripple’s final leg is confirmed, then a sharp downward trajectory can be expected from the cryptocurrency.

Myer furthers that in this scenario the previous low of $0.17 can act as support and Ripple can be expected to stabilize around that price level. However, the analyst is also expecting that the bearish momentum will not last for a long time and Ripple can possibly regain its earlier bullish momentum in the coming month. Myer’s has set an optimistic price target of $1.00 in that case.  

Analyst Trading With The Trend has identified a coherent wave count in their Ripple price prediction. The analyst suggests a short position as the protracted wave count indicates a downward trend in Ripple’s price action. Per the analyst, the formation of an ascending trend line could also be noticed, but the trend line failed as support as the cryptocurrency moved lower. The analyst is not hopeful for Ripple at all as the target price lies at $0.10.

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

SEC responsible for $15 billion in damages to XRP holders: Ripple

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Weeks after the United States’ Securities and Exchange Commission filed an amended complaint in its lawsuit against Ripple Labs, the latter has now filed an official response, with the same asserting that the SEC is picking virtual currency winners and losers by exempting Bitcoin and Ether from the scrutiny of similar regulations.

According to Ripple, XRP was designed to be a “better Bitcoin” and more secure because control over the XRPL is more distributed.

Ripple’s response also pointed out that the mere filing of the SEC’s complaint has caused immense harm to XRP holders, cutting the value of their holdings substantially and contributing to numerous exchanges, market makers, and other market participants ceasing trading activities involving XRP. The blockchain firm argued that in bringing a case that alleges an unregistered securities offering of just over $1.3 billion from several years ago, the SEC has already caused more than approximately $15 billion in damages to those it “purports to protect.”

The 100-page document also went on to accuse the SEC of mischaracterizing several items on the record, including the claim that Ripple’s sales of XRP constituted a “significant part” of the XRP. According to Ripple, these sales constituted less than 0.4% of the total XRP transaction volume in nearly all periods.

To conclude, Ripple equivocally denied all charges in the SEC’s amended complaint, calling the allegations “overarching.”

“We’re looking forward to learning more about the SEC’s meetings with major XRP market participants who asked for guidance but were never told that XRP transactions would be subject to federal securities laws,” Stuart Alderoty, Ripple’s General Counsel, added on Twitter.

The timing of the said development is interesting, especially since it came just a day after Ripple execs Brad Garlinghouse and Chris Larsen filed motions to dismiss the amended complaint.


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Source: https://ambcrypto.com/sec-responsible-for-15-billion-in-damages-to-xrp-holders-ripple

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How to Protect Yourself from the Cryptojacking Threat

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Though fairly common in today’s age, for many, Cryptojacking might still be a brand-new term. What is Cryptojacking? Is this a threat for all computer and internet users? How can we prevent falling victim to Cryptojacking? And many more such questions are common. Some of the most common concerns have been addressed below.

What happens in Cryptojacking?

Cryptojacking is the latest, most innovative, shape of cybercrime. These jackers will use your computer to mine cryptocurrencies maliciously. This can happen on both personal and business laptops, computers, and mobile devices. Cybercriminals hack into any of these devices to install software that uses the computer/laptop/smartphone’s resources and power to mine cryptocurrencies or steal wallets of unsuspecting victims. This is a grave threat as it is hard to detect and easy to deploy and run in the background. The main idea is using another computer and device’s resources to do crypto mining work for them and whatever earnings or steals they make from the hijacked computers, they siphon it into their own digital wallets. 

Cryptojacking Methods

There are three main methods cryptojackers can opt for to maliciously mine for cryptocurrencies. Let’s skim through them so you know how to better protect yourself against them.

Browser-based Cryptojacking

This happens when the hacker uses IT infrastructure to mine and attack directly within the web browser. They create a crypto mining script that is embedded into different websites. These scripts can be embedded into out-of-date WordPress plugins or ads where they run automatically while the code gets downloaded into the user’s computer. 

File-Based Cryptojacking

File-based cryptojacking starts from downloading malware that runs an executable file. A Cryptomining script is spread through this file all around the IT infrastructure. The most common way to do so is to spread malicious emails with links or attachments that look fairly legitimate for the user to click on them. If they click, the code is executed and downloads the crypto mining script to work in the background on the user’s computer without their knowledge.

Cloud Cryptojacking

Cloud Cryptojacking is used when a hacker searches for API keys through an organization’s code and files to gain access to their cloud services. They then gather unlimited CPU resources for crypto mining and this resultantly increases account costs quite significantly. Hackers illicitly mine for currencies using this method as it helps them accelerate at a much faster rate. 

How to detect Cryptojacking?

The crypto mining scripts generated by hackers can be very tricky to detect and locate, which is why you need a highly vigilant IT team at work 24/7 for your organization’s operation. Here are some common signs that will tell you something’s wrong before it’s too late and practices that can help you detect cryptojacking, look out for these!

Overheating

Just like any other intensive task, Cryptojacking involves resource processing that can heat your computing device quickly. Overheating will shorten the lifespan of your device and damage it immensely. Moreover, overheating means the fans in your devices will run longer than they should to keep the system cool and running.

Decreased performance

One of the major signs of cryptojacking is a decrease in the performance of your laptop, PC, mobile device, or tablet. If you observe an unexplained decrease in processing speed, immediately call an IT technician and get it checked. If you’re running an organization, educate all your employees about their cybersecurity and about signs and symptoms they need to report. 

Regular Website Checks

Regularly monitor your website and all its web pages to make sure there are no changes to the files and webpages on the web server. This is a great way to prevent a Cryptojacking attack.

Monitor CPU Usage

Analyze your CPU usage regularly by using a task manager or activity monitor. An unjustified increase in the CPU usage means there’s something fishy going on. Especially for a website that has little to no media content that could drive traffic. 

Protection against Cryptojacking?

Following are some recommendations from security experts on the prevention of Cryptojacking.

Maintain good security hygiene

Establish solid security hygiene to lower the risk of Cryptojacking as all such attackers are opportunists and always on the hunt for wear, vulnerable venue. Hackers run numerous exploits on websites and get through whenever there is a patch.

Web filtering

Keep your web filtering tools up to date and make sure your users are blocked from accessing a webpage that you identified delivering Cryptojacking scripts. 

Anti-crypto mining browser extensions

To coin the cash and deploy the Cryptojacking script, crypto-miner hooks into web browsers. You can use browser extensions to block such crypto miners. Browser extensions such as No Coin, minerBlock, and Anti Miner can be used. 

Disable JavaScript and enabling Ad-Blockers

Disabling JavaScript when browsing online will protect Cryptojacking code from infecting your device. And, Ad-blockers will detect and block crypto-mining codes that are commonly placed in web ads.

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Blockchain Association meeting with key Biden staff about regulations

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U.S.-based crypto advocacy group, the Blockchain Association, is lobbying key figures in the Biden administration to advocate for more favorable regulations.

The Association’s executive director, Kristin Smith, told Fox Business the group has already met with or is in the process of scheduling meetings with high-ranking Whitehouse officials including Treasury Secretary Janet Yellen, Deputy Secretary nominee and former BlackRock executive Wally Adeyemo, along with representatives of the Treasury Department.

Citing reported comments from Yellen about how the primary utility of cryptocurrency is “illicit financing,” Smith said the association’s key aim was to assist the Treasury chief to “understand the value of crypto networks:”

Our number one priority is helping Yellen understand crypto goes beyond the financing of criminal enterprises.”

Yellen has been criticized by the crypto sector for describing Bitcoin as “an extremely inefficient way of conduction transactions,” and speculating that BTC is not “widely used as a transaction mechanism.”

Despite her apparent hostility toward Bitcoin, Yellen has expressed openness to centralized DLT, with the secretary stating a digital dollar could offer “faster, safe, and cheaper payments” than existing fiat currency last month.

Adam Traidman, CEO of crypto wallet BRD, indicated representatives of the crypto sector are “trying to work as high up the Treasury food chain as we can,” adding:

“We’re not opposed to regulation and compliance, but we need time to spur innovation and grease the skids for adoption of crypto first.”

Traidman emphasized concerns regarding regulations for wallets and crypto-to-crypto transactions, stating: “One of our main goals is to carve out crypto to crypto transactions from most regulations. If crypto transfers have to meet wire transfer rules, that will harm the industry.”

Some in the crypto community have also expressed concern regarding Joe Biden’s nominee for chairman of the Securities and Exchange Commission, Gary Gensler — who has previously described Ethereum’s 2014 ICO as an unregistered securities offering.

Earlier this week, Gensler told the Senate Banking Committee the SEC will work to ensure the crypto markets “are free of fraud and manipulation,” accusing off-shore exchanges of having been “rife with fraud.”

The Blockchain Association’s members include crypto heavyweights Circle, Binance.US, Grayscale, and Kraken.

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Source: https://cointelegraph.com/news/blockchain-association-meeting-with-key-biden-staff-about-regulations

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