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XRP Price Records Most Bullish Weekly & Monthly Close, What’s next?

xrp jumping

The post XRP Price Records Most Bullish Weekly & Monthly Close, What’s next? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

XRP price in the early trading hours had risen above the upper barriers and broke out from the ascending triangle. However, the price soon experienced another dump, which still maintained along with the lower levels of the triangle.  The price which was attempting very hard to close the monthly trade above $1, yet failed to …

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XRP price in the early trading hours had risen above the upper barriers and broke out from the ascending triangle. However, the price soon experienced another dump, which still maintained along with the lower levels of the triangle. 

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The price which was attempting very hard to close the monthly trade above $1, yet failed to do so. The price plunge depleted the XRP’s bullish momentum and hence entered a phase of a healthy consolidation.

However, the XRP price may rally higher than the current levels once done with the consolidation. According to an analyst Blockchain Backer, XRP shorts have been liquidating at a greater pace and hence a healthy bounce back may be on the cards.

The analyst also said that the whales are buying the positions left by the weak hands and even accumulated more during the recent crash. And the XRP longs are notably low, lowest in the past 4 years. Therefore, the current pullback may be due to these XRP shorting, yet the longs which have just HODL their positions 

Also Read: XRP Price Struggles to Find Support at $1 While Still Trying to Bounce Back!

XRP Price Analysis

XRP price had the most unfavoured monthly close. Although,, the price again revisited the lower most levels, yet it rebounded within no time. Accumulating as much as the green candles, in the past couple of days, XRP price appears to have sustained above $1 comfortably.

xrp jump

Despite the narrow trend, the trading volume appears to be huge which may be a major factor for the sustained price. However, currently the price is required to surge forward towards the next set targets, else the previous levels around $0.8 would be imminent.

Technical Specifications

  • The resistance levels are at $1.08
  • The support levels are at $0.97
  • The indicators are currently neutral
  • At the press time the XRP price is $0.9982 with a jump of 0.93%

Also Read: What Is Hindering XRP Price Rally To Rise Above And Hold Above $1?

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Source: https://coinpedia.org/price-analysis/xrp-price-most-bullish-weekly-and-monthly-close/

Blockchain

SEC chief Gensler now eyeing crypto staking and ‘poker chip’ stablecoins

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In recent weeks, the U.S. Securities and Exchange Commission [SEC] has brought several crypto companies into the regulatory spotlight. Coinbase was warned about its high-interest crypto-product Lend, with the SEC threatening to sue if it launched.

Unsiwap also felt the heat as it was reportedly investigated. Meanwhile, the SEC vs Ripple lawsuit saw the court denying Ripple’s request for documents revealing SEC’s trading policies on digital assets.

Even as these events unfolded, SEC Chair Gary Gensler spoke to Washington Post journalist David Ignatius about cryptocurrency and the SEC’s powers.

Cop on the beat

Gensler first stressed that crypto tokens were a “highly speculative asset class” and defended his dedication to investor and consumer protection. He admitted that the SEC had a broad definition of securities and that it gave the agency a “great deal of authority.”

Encouraging crypto trading platforms to come in for SEC registration, Gensler said,

“Now, not many have, and so I do really fear that we’ll keep bringing these enforcement cases, but there’s going to be a problem. There’s going to be a problem on lending platforms or trading platforms. And frankly, when that happens, I think a lot of people are going to get hurt.”

Gensler also voiced concerns about staking and added,

“We’ll also be the cop on the beat and bringing those enforcement actions, as well.”

Coming to stablecoins, Gensler used his familiar crypto-Wild West comparison and likened stablecoins to poker chips at the casino. He also explained that though the SEC had “robust authorities,” there were some gaps. He hinted the agency might work with the U.S. Congress to regulate stablecoins.

Notes on Evergrande

With liabilities worth around $300 billion, the crisis of Evergrande, China’s second largest property developer, has shocked the world market – and the crypto sector. Soon the Hong Kong-based, dollar-pegged stablecoin Tether [USDT] came under scrutiny. The company had to confirm that it did not hold commercial papers, debts, or securities issued by Evergrande.

Ignatius also asked Gensler whether Evergrande could affect the American market. Gensler just confirmed that Evergrande was not registered and did not trade on American capital markets.

However, he added,

“…it is possible, from time to time, that we too in America will react to other economies’ and nations’ shocks. And particularly China’s economy is so large relative to Europe’s or our own.”

In essence, the interview came with a familiar promise for crypto innovators and traders. Referring to warning signs and flashing lights signaling a spill in aisle three, Gensler said he would rather “get ahead of it.”

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Source: https://ambcrypto.com/sec-chief-gensler-now-eyeing-crypto-staking-and-poker-chip-stablecoins

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News

Robinhood to Launch Crypto Wallet in 2022

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You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Source: https://cryptobriefing.com/robinhood-to-launch-crypto-wallet-in-2022/?utm_source=main_feed&utm_medium=rss

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Blockchain

Own NFT Land in ERTHA Metaverse that Could Generate Revenue

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[PRESS RELEASE – Please Read Disclaimer]

The last year or so has seen the massive growth of the non-fungible token space, which became arguably the most talked-about field in the cryptocurrency space. With celebrities from all industries trying to take advantage of the ongoing craze, NFTs have now become the place to be for protocols providing groundbreaking featured and services.

Some have taken their development stages further, attempting to garner a more significant market share. This is the case with ERTHA, whose metaverse has tapped one of the most legendary online games from the past two decades – Heroes of Might and Magic.

Its economic and social life, inspired by the aforementioned game, is built on the binance smart chain and aims to enable users to explore and investigate the space by choosing specializations and increasing the strength of the NFTs.

The project’s globe consists of 350,000 HEX land plots, all of which are represented as non-fungible tokens. Users owning a HEX land plot will have the chance to receive cash-back for every transaction completed with Ethereum (ETH) as a landowner. The game is specifically designed to replicate a real-life environment, simulating the actions that people would perform in order to earn a living and continue with their lives.

As mentioned above, ERTHA is designed to inspire economic and social growth, investigate the new online world, and push users to increase their engagement levels in the NFT space.

The project’s development process has been wildly comprehensive as it took Alpha more than 17,000 Code commits and over 30,000 hours of writing program code to provide the end-product.

The map of ERTHA is divided by NFT hexagons. This allows players to be free to choose where to live, study, work, and earn ETH tokens. Many companies and players also prefer paying taxes in the form of the second-largest cryptocurrency.

The project further promised that some internal developments, such as territorial disputes and international conflicts, can positively impact the prices of the NFTs.

ERTHA metaverse political influence and management of different territories are controlled with decentralized instruments, meaning smart contracts, through the financial epicenters in the game. Political influence introduces a number of advantages for NFT holders.

ERTHA also promised full decentralization for its land properties and non-fungible token attributes.

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Source: https://cryptopotato.com/own-nft-land-in-ertha-metaverse-that-could-generate-revenue/

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