- No products in the cart.
BEST SELLING PRODUCTS
Ripple’s (XRP) ongoing upside retracement risks exhaustion as its price tests a resistance level with a history of triggering a 65% price crash.
XRP’s price gained nearly 30%, rising to $0.36 on June 24, four days after rebounding from $0.28, its lowest level since January 2021.
The token’s retracement rally could extend to $0.41 next, according to its cup-and-handle pattern shown in the chart below.
Interestingly, the indicator’s profit target is the same as XRP’s 50-day exponential moving average (50-day EMA; the red wave).
The cup-and-handle bullish reversal setup tends to meet its profit target at a 61% success rate, according to veteran analyst Thomas Bulkowski.
But, it appears XRP’s case falls in the 39% failure spectrum because of a conflicting technical signal presented by its 200-4H exponential moving average (EMA).
XRP’s 200-4H EMA (the blue wave in the chart below) has previously served as a strong distribution signal. Notably, in April 2022, the token attempted to break above the said wave resistance multiple times, only to face rejections on each try; it fell 65% to $0.28 later.
The ongoing cup-and-handle breakout has stalled midway after XRP retested the 200-4H EMA as resistance on June 23. Now, the token awaits further bias confirmation while risking a price decline similar to what transpired after April.
XRP’s overbought relative strength index (RSI), now above 70, also raises the possibility of an interim price correction.
The downside scenario on XRP’s shorter-timeframe chart comes in line with giant bearish setups on its longer-timeframe chart.
As Cointelegraph covered earlier, XRP has entered a breakdown stage after exiting its descending triangle structure in early May.
As a rule of technical analysis, its triangle breakdown should have it fall by as much as the structure’s maximum height, which puts its downside target near $1.86.
In other words, another 50% price drop for XRP could happen by the end of July this year.
— Whale Alert (@whale_alert) June 23, 2022
Macro risks led by the Federal Reserve’s hawkish policy further strengthen XRP’s bearish bias. The XRP/USD pair has typically traded lower in tandem with riskier assets in 2022, with a correlation coefficient with the Nasdaq Composite, sitting at 0.90 as of June 24.
A score of 1 means that the two assets moves in perfect sync.
Conversely, anticipations that Ripple would win the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) for “allegedly” selling unregistered securities could negate the bearish setups.
I’ve stated for over a year that many @Ripple and #XRP supporters underestimate the negative impact the SEC lawsuit has had. B/c Ripple has done well outside the U.S. and is hiring, etc., people say otherwise. But XRP must be deemed a non-security in the US to fulfill its promise https://t.co/oBmiTQOWfJ
— John E Deaton (203K Followers Beware Imposters) (@JohnEDeaton1) June 22, 2022
That being said, XRP could rebound toward $0.91 by the end of this year if the ongoing retracement continues any further. Interestingly, the token has bounced after testing long-term ascending trendline support, as shown below.
The bounce has also followed XRP’s weekly relative strength index (RSI) decline below 30 — an oversold threshold, which signals a potential buying opportunity.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
CoinLoin, an EU-licensed crypto lending platform, announced it has integrated security protocols from Elliptic, a blockchain analytics provider.
This integration benefits all CoinLoan users as it protects them from a spectrum of cyber threats.
Currently, 66% of the crypto volume runs through exchanges using Elliptic. It covers over 98% of global trading volume, providing actionable insights on 500+ crypto-assets and 100 billion+ data points. Cryptocurrency service providers, institutions, and regulators depend on it to monitor risk and fight fraud.
“Elliptic offers an optimal combination of recognition, trustworthiness, and coverage of blockchains and digital assets. CoinLoan’s emphasis on compliance is an important competitive strength. Playing by the rules from day one has allowed us to offer convenient fiat gateways and give users peace of mind. With Elliptic, CoinLoan enhances its proactive approach to risk management. Thanks to Elliptic, CoinLoan has already averted a number of withdrawals to scammy addresses. If these transactions had been successful, the senders would have had no opportunity to recover their funds.”
– Max Sapelov, Co-Founder & CTO of CoinLoan
For users, Elliptic ensures safe withdrawals and seamless transfers.
First, it signals to other platforms that CoinLoan is a trustworthy source, a fully compliant business with high AML and KYC standards. Users can be sure their withdrawals to legit addresses will not get blocked.
Second, the system halts transfers to flagged wallets like the ones pasted by clipboard hijacking malware.
CoinLoan users do not have to double-check every recipient’s address. If it raises suspicion, Elliptic alerts the CoinLoan team, and it launches an investigation to protect the user.
All CoinLoan users will enjoy advanced protection regardless of the services utilized.
Whether managing an interest-bearing account, taking out loans, or exchanging funds, all transfers from the platform are protected by Elliptic.
When CoinLoan receives a request for an outbound transaction, it then sends a query to the Elliptic API. Elliptic checks addresses against its blacklist to protect users from a wide range of attacks and scams. Suspicious transactions are halted automatically and escalated to a manual review when necessary.
Future Fund, a Polish-based fintech start-up, today announced the conclusion of its private sale round. Investors who joined the project during this round provided $3.8 million for its development.
The team of Future Fund is building a blockchain-based micro-investment platform fueled by cashback rewards – credit or debit card bonuses that refund cardholders small percentages of the amounts spent on purchases. They range from a few to even a dozen percent of the purchase value.
Funds gathered by customers through cashback rewards will be collected in individual accounts on the Future Fund platform and then invested by a specialized investment fund. The investment fund is located in Switzerland, a country with modern regulations for fintech companies using blockchain technology.
“Future Fund, the project we are building, is a revolutionary undertaking where blockchain and a community of enthusiastic consumers are going to change how cashback works – i.e. the amounts that sellers return to customers for shopping at various stores, both online and offline. They seem small only at first glance. Pooling them all together over the course of a year, the result is an amount that can generate a stream of additional, noticeable income over time and – in the long run – become a personal retirement “fund.” Today, it’s mostly marketing and tech platforms that benefit from cashback rewards. We are going to make this money work for Future Fund’s community.”
– Grzegorz Grzegorski, Co-Founder & CMO of Future Fund
MVP and More Rounds
Currently, the team is focused on developing an MVP app, building its community, and creating a network of partnerships required to create a fully operational Future Fund ecosystem.
Further funding rounds are also planned for the second half of 2022.
To check out more information on Future Fund, see the Whitepaper.
Now every interested user has a chance to leave their mark on a crypto bill that could define the industry guidelines in the United States in the near future, the Responsible Financial Innovation Act (RFIA). The document was uploaded on GitHub, a platform populated by software and product experts, by its co-sponsors to get public feedback.
On Wednesday, June 22, Senators Cynthia Lummis and Kirsten Gillibrand uploaded the full content of their Responsible Financial Innovation Act on GitHub. As Lummis’ representatives commented:
“The senators seek comments from industry stakeholders, consumers and interested parties to ensure that this landmark legislation reflects the innovative nature of the industry it regulates, while also adding confidence, trust and stability for consumers.”
By the press time, there are six commentaries available on the act page, with some of them being more of a solitary battle-cry (“Taxation is theft”), while others suggesting debatable edits to the document.
A user called Stduey explains why Bitcoin is different and should not be included with risky “assets” due to its “absolute scarcity” feature. In his opinion, that makes a case for an absolutely separate bill for Bitcoin:
“If you buy 5,000 satoshis for $1, you will have 5,000/2.1 quadrillion satoshis, forever, and no one can change that. People cannot understand the magnitude of this yet but this subtle difference is what separates Bitcoin from every other crypto, fiat, precious metal, and commodity.”
Another commentator, savage1r, elaborates on the inconsistency of the current framework in regard to airdrops — it ties the taxable value of coins to its entry price, which might be significantly higher than at the cash-out phase:
“Airdrop receivers should only have to pay short or long term taxes on the coins they cash out assuming the initial value is $0 because they do not realize the gains until they trade or sell.”
The highly awaited RFIA was introduced in the U.S. Senate on June 7. There is a broad consensus among the community that the bill is favorable to crypto.
About Google Data Analytics Professional Certification | Includes my opinion
SteelSeries Nova Pro Wireless review: it nearly does it all
Location, celebrity partners unveiled for $150M sports destination coming to Miami-Dade
Everything You Need to Know About the Solana Blockchain and NFTs
‘Selling Sunset’ Star Christine Quinn And Tech Entrepreneur Husband Have Plans To Disrupt The Real Estate Industry
22 Rising NFT Artists to Watch in 2022
NYC Amazon Workers Vote Against Unionizing; Warren Buffett Reveals Big Investments | NTD Business
2B3D, Metaverse for Veteran PTSD Therapy, Sends Gratitude