Blockchain
Ripple (XRP) Just Saw A Key Technical Breakout: Relief Rally Underway
Ripple started a steady recovery wave, following bitcoin’s upward move and ethereum’s rally against the US Dollar. XRP price is likely to revisit $0.2575 or $0.2620 in the near term. Ripple is up 4% and it is trading above the $0.2350 and $0.2440 resistance levels against the US dollar. The price is showing positive signs […]
Ripple started a steady recovery wave, following bitcoin’s upward move and ethereum’s rally against the US Dollar. XRP price is likely to revisit $0.2575 or $0.2620 in the near term.
- Ripple is up 4% and it is trading above the $0.2350 and $0.2440 resistance levels against the US dollar.
- The price is showing positive signs above the $0.2450 level and the 100 hourly simple moving average.
- There was a break above a key bearish trend line with resistance near $0.2360 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair could correct a few points, but it is likely to continue higher towards $0.2575.
Ripple Price Recovers 4%
The recent rise in Ethereum and bitcoin pushed ripple higher above the $0.2350 resistance. It seems like XRP price formed a decent support base above $0.2300 before starting the current recovery wave.
There was a break above the $0.2380 resistance and the price even climbed above $0.2400. The upward move was initiated after there was a break above a key bearish trend line with resistance near $0.2360 on the hourly chart of the XRP/USD pair.
The pair is showing positive signs above the $0.2450 level and the 100 hourly simple moving average. An initial resistance is near the $0.2480 level or the 50% Fib retracement level of the downward move from the $0.2659 high to $0.2300 low.
Ripple price trades above $0.2440. Source: TradingView.com
The first major resistance is near the $0.2520 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.2659 high to $0.2300 low. The main hurdle on the upside is near the $0.2575 level, above which the price might accelerate higher towards the $0.2620 level.
Any further gains could initiate a steady rise towards the $0.2680 and $0.2720 levels in the coming sessions.
Dips Supported in XRP?
If ripple fails to continue higher above $0.2520, there could be a downside correction. An initial support is near the $0.2440 level (resistance turned support).
A downside break below the $0.2440 support may perhaps push the price towards the $0.2380 support or the 100 hourly SMA. Any further losses could lead the price back towards the $0.2300 breakdown support.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is rising and it is well above the 60 level.
Major Support Levels – $0.2440, $0.2380 and $0.2300.
Major Resistance Levels – $0.2480, $0.2520 and $0.2575.
Blockchain
Da Vinci Capital Reportedly Requests $100 Million from Telegram for TON’s Failure


A large investor in Telegram’s failed Open Network (TON) has reportedly requested $100 million in compensation from the company. Otherwise, the investor – Da Vinci Capital – has warned with taking legal actions against the messaging platform.
TON Investor Demands $100M
Telegram’s TON initiative was among the most widely-discussed blockchain-related projects in the past few years. However, the endeavor faced almost immediate backlash from the US Securities and Exchange Commission (SEC) as a US court decided at one point that the native currency – GRAMS – is a security token, which couldn’t be sold in the US or anywhere else.
Telegram attempted on multiple occasions to fight the court’s decision and to prove that GRAMS is not a security. However, to no avail and Pavel Durov, the company’s CEO ultimately had to throw the towel by saying that “Telegram’s active involvement with TON is over.”
Although the company has distanced itself from the failed blockchain project, the problems keep following it, according to a recent report by Forbes Russia. Citing anonymous people familiar with the matter, the coverage said that Da Vinci Capital, an investor in the $1.7 billion initial coin offering, has requested compensation for TON’s failure.
Lawyers from the Moscow-based investment company have reportedly sent a letter of intent to file a claim to Durov, Telegram Vice President Ilya Perekopsky, and other executives and lawyers involved with the project.
The report says that Da Vinci Capital had demanded roughly $100 million as compensation.
Two Weeks to Answer
Forbes’ coverage further explained that Durov and his colleagues have two weeks to transfer the funds or notify the lawyers from the investment company if they decide to reject it.
However, if Telegram fails to answer in the provided timeframe, Da Vinci Capital has the right to take the matter to court.
Apart from these allegations, Telegram recently negotiated funding round to raise at least $1 billion in a private bond placement to accredited investors from Russia, Europe, the Middle East, and Asia. Those bondholders would be able to convert debt into shares at a 10% discount to the offering price if Telegram decides to go public in the next five years, revealed the conditions of the round.
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.
Blockchain
ChiliZ To Expand Operations, Will Invest $50 Million in the US


Following milestone partnerships with sports teams in Europe, ChiliZ have their eyes set on conquering the United States. The fintech platform will open a new office in one of the world’s major commercial cities, New York.
ChiliZ To Set Up New York Office
Maltese blockchain giant, ChiliZ is scaling up operations after securing several partnerships with top European sports franchises. Reuters reported earlier today that the fan engagement platform would open an office and invest $50 million in the United States. According to its chief executive, Alexandre Dreyfus, the move should bring the firm within reach of top United States sports outfits. He told Reuters :
“A huge focal point for us in our global growth plans is the U.S.. That’s why we’re opening a New York office and investing $50 million into the country’s sports industry in order to launch Fan Tokens with leading franchises from the five major U.S. sports leagues”
On launching Fan tokens, ChiliZ has made headway through its subsidiary, Socios. It has partnered with football behemoths like FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, Galatasaray, and Atlético de Madrid to launch branded fan tokens. These permit owners to engage in club polls, access VIP rewards, and partake in chat forums.
The company currently has offices in Malta, France, Turkey, Korea, Switzerland, and South America. It had earlier announced that it would open offices in New York and Madrid. With the New York office inching towards reality, Chiliz is undoubtedly advancing towards global growth.
Aims To Double Up on 2020 Revenue
Speaking further about the expansion, Dreyfus boasted about his company’s capacity to generate returns for its partners in the sports and entertainment industry. He said:
“We head to the U.S. with a proven track record in generating millions of dollars of revenue for some of Europe’s biggest sporting organisations. In 2020, we shared more than $30 million with our partners, but this year we’re targeting a minimum of $60 million.”
Revenue from the company’s partnership with seven-time European champions AC Milan proves Dreyfus is not bluffing. The Italian football giant launched its token ($ACM) on Binance on February 24th. Within hours of the launch, over $6 million was generated as trading volume hit $50 million in the first 30 minutes.
Big Market For ChiliZ?
For Joseph Edwards, Enigma Securities head of researcher, there is no better time to seize the initiative. He opined that the soaring interest in NFTs indicates a big market. He elaborated further that NFTs bridge the gap between fans and their subject of interest, especially as Covid-19 caused a disconnection.
“Fan tokens right now are just hitting the perfect itch at the perfect time – fans are disconnected physically from their fandom, and this helps bridge that gap,”
NBA Top Shots seems to be a perfect example. The NFT platform has continued to gain momentum as interest surges. It reached a record-breaking $231 million in sales over the past 30 days. Perhaps, ChiliZ is taking a cue from this to target the American sports market.
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.
Source: https://cryptopotato.com/chiliz-to-expand-operations-will-invest-50-million-in-the-us/
Blockchain
Crypto services firm BCB Group raises $4.5M led by North Island Ventures and Blockchain.com Ventures


BCB Group, a crypto payment/trading services provider, today announced it has closed a $4.5 million investment round. The strategic funding was co-led by North Island Ventures and Blockchain.com Ventures; with participation from Pantera, L1 Digital, and Pack Capital.
As a dual regulated institution, BCB Group offers an end-to-end suite of payment processing, cryptocurrency trading, and custody. Services are accessible through a unified API-enabled platform; allowing clients to access a full range of crypto-asset products in one place.
Funding
The proceeds of the round will be used to fund investments in several new initiatives…
These initiatives include: BCB Treasury, a service designed to help companies interested in investing in bitcoin as a treasury asset. BCB Yield Accounts, a product offering clients a return on their positions. And BCB Wealth Partners, a comprehensive crypto service for private wealth clients.
“There’s so much more we want to offer our clients; and many untapped regions we’d like to be in to help those markets grow via reliable payments and market infrastructure. This funding round comes at a very exciting time for BCB Group and will be transformative for our client experience.”
– BCB Group Founder and CEO, Oliver von Landsberg-Sadie
Previously, back in March 2019, BCB Group received funding from NKB Finance and a private investor in a $1 million seed round; which brought the company much-needed talent in engineering and operations.
-
Blockchain1 week ago
Ankr adds Eth2 futures (fETH) to its staking system
-
Blockchain5 days ago
Gemini collaborates with The Giving Block and others, adds donations option
-
Blockchain1 week ago
Ripple now registered as a Wyoming business
-
Blockchain1 week ago
Peter Schiff Now Discusses Bitcoin More Often Than His Beloved Gold
-
Blockchain1 week ago
Former BoE, BoC Governor Mark Carney joins Stripe board of directors
-
Blockchain5 days ago
NextGen Blockchain Platforms Self-Organize to Win Government Contracts
-
Blockchain7 days ago
Optimized Ethereum Mining Settings for Nvidia RTX 3060 Ti, RTX 3070, RTX 3080 and RTX 3090 GPUs
-
Blockchain1 day ago
Why Mark Cuban is looking forward to Ethereum’s use cases