Mehrere Krypto-Experten rufen den Anlegern ins Gedächtnis, dass die Kursentwicklung von Bitcoin gemäß den vierjährigen Halving-Zyklen momentan das beste Preis-Leistungs-Verhältnis bietet.
XRP/USD price prediction: $0.3 must hold for bulls to still hope
- XRP/USD gave away half of the 2023 gains
- A bearish channel points to more weakness
- $0.3 must hold for bulls to still hope
Cryptocurrency investors were thrilled to find out that the industry bounced strongly in 2023. In the first quarter, all leading cryptocurrencies rallied, led by Bitcoin.
XRP/USD rallied too. It traded as low as $0.3 in the early days of 2023 and almost doubled by the end of the first quarter.
A combination of prolonged dollar weakness and enthusiasm in the crypto universe was responsible for the rally. Also, the Federal Reserve played with the idea of pausing the interest rate hikes as inflation cooled down.
But instead of the dollar weakness continuing, it stopped. Moreover, the trend reversed, and the dollar rallied so far in the second quarter.
And what markets corrected the most? The ones that rallied the most, such as the cryptocurrency market.
XRP/USD in danger of breaking the $0.3 support area
The technical picture looks increasingly worrying for XRP/USD. Despite the Q1 2023 rally, XRP/USD still moves with a bearish tone.
It appears the rally was nothing but a bear market rally, given the bearish channel remained intact. In fact, the market failed right where it was supposed to – at resistance offered by previous support.
Should the market break below the bearish channel (i.e., below $0.3), the projected measured move points to continued weakness toward the $0.2 area. In that case, the bearish channel is nothing but a continuation pattern in a bearish market that started with a double top pattern in late 2021.
All in all, for bulls to still hope, the market must hold inside the channel. Another attempt to the $0.6 resistance area would be desirable, but one should not discount the increased possibility of breaking below $0.3 and the bearish implications of such a move.
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Staatsanwaltschaft von Montenegro akzeptiert Kautionsbedingungen für Do Kwon
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Binance zieht sich wegen neuer Krypto-Regulierung aus Kanada zurück
Nachdem sich bereits einige andere Kryptobörsen wegen der neuen Regulierungsvorschriften aus Kanada zurückgezogen haben, geht nun auch Binance diesen Schritt.
Binance announces exit from Canada
- Binance says new guidance on stablecoins has made it untenable to continue operating in the country.
- New rules required exchanges to seek approval before allowing their customers to buy or deposit stablecoins.
- The exchange says it will continue to engage regulators even if it doesn’t agree with new guidance.
Binance, the world’s largest crypto exchange by trading volume, has announced its exit from Canada.
The crypto platform revealed its move on Friday, noting that the decision was down to new guidelines that make the Canadian market “no longer tenable” for its operations.
“We had high hopes for the rest of the Canadian blockchain industry. Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time,” the exchange said in a tweeted statement.
The crypto exchange giant said it had “put off this decision as long as [it] could to explore other reasonable avenues to protect [its] Canadian users.” However, it’s joining other platforms to withdraw from the market after the latest regulatory move.
“While we do not agree with the new guidance, we hope to continue to engage with Canadian regulators aimed at a thoughtful, comprehensive regulatory framework,” Binance wrote.
The question of regulatory clarity
Binance is a major crypto industry player that has sought regulatory approval in most of the jurisdictions that it offers its services. It has also been one of the main advocates of more regulatory clarity across the globe.
But its decision to exit Canada comes a few months after the Canadian Securities Administrators (CSA) outlined new guidance regarding stablecoins.
The February communication had asked crypto trading platforms operating in the country to seek approval before allowing customers to use stablecoins on their platforms. This included buying or depositing stablecoins, a requirement that meant further due diligence checks for exchanges amid the tightening regulatory scrutiny.
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