Schlagwort: crypto business

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As XRP price moves into a bear market, is it safe to buy the dip?

XRP price has come under intense pressure in the past few days as the recent crypto comeback started fading. Ripple dropped to a low of $0.4384, which is about 21% below the highest point this month, meaning it has moved to a bear market. 

Why is Ripple falling?

XRP price is falling because of its close correlation with Bitcoin, the biggest cryptocurrency in the world. In most periods, altcoins like XRP and ADA tend to rise when Bitcoin is rising and vice versa. Therefore, since there have been no major Ripple news, we can cite the recent decline to the overall decline of BTC. 

This price also mirrors the performance of American stocks. The Nasdaq 100 index has moved sideways in the past few days and is about 1.78% below the highest point this month. In most periods, cryptocurrencies also have a correlation with American stocks.

The next key Ripple news to watch will be the upcoming verdict in the ongoing civil lawsuit by the Securities and Exchange Commission. The SEC alleges that Ripple violated securities laws when it sold XRP to investors without registering with the agency.

It is still unclear when the judge will deliver the court’s verdict. It is also unclear how XRP will react to the verdict. However, I believe that the end of the case will be positive for Ripple because I suspect that the outcome will be a fine or an exoneration.

Meanwhile, Ripple recently launched the Ripple Liquidity Hub as it seeks to provide more solutions to businesses. The service is making it possible for businesses to access simple and seamless ways to manage liquidity needs. It is also enabling people to manage fiat, cryptocurrencies, and CBDCs among others.

XRP price prediction

The 4H chart shows that the Ripple price has dropped sharply after hitting the key resistance point at $0.5826 on March 29. The coin has flipped the key level at $0.5568 from a support into a resistance. It has moved to the 25-day and 50-day exponential moving averages. Ripple has moved slightly above the key support at $0.4326, the highest point on January 22. 

It has also formed a small bearish pennant pattern. Therefore, for now, there is a likelihood that the coin will have a bearish breakout as sellers target the key support level at $0.400, which is about 12% below the current level.

How to buy Ripple

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Buy XRP with eToro today

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy XRP with Bitstamp today

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INJ/USD price forecast after another rejection at $10

  • INJ/USD rally stopped at $10
  • Horizontal resistance is likely to be tested again
  • The bias remains bullish while the price holds above $5

INJ/USD has outperformed other cryptocurrency pairs in 2023. At the start of the year, it was trading below $2, but in a matter of just a few months, the price spiked all the way to $10.

It met resistance again at the pivotal area, but if the bullish conditions persist, it is unlikely that the horizontal resistance will hold again. Ideally, for bulls, the market should form a consolidation below the resistance area, which might take the form of a triangle, as the market needs some time to build energy for another leg higher.

Injective chart by TradingView

What would invalidate the bullish scenario?

Injective has a market capitalization of $580 million, and in the last 24h the trading volume exceeded $135 million. In other words, the INJ/USD pair is liquid and heavily traded.

The bias should remain bullish while the price remains above the previous ascending triangle. The horizontal resistance of the previous triangle should offer support on further declines.

INJ/USD is the perfect example of why speculators love the cryptocurrency market. While the volatility in the classic FX market declined this week to a 1-year low, it remains elevated in the cryptocurrency market, offering plenty of opportunities to speculate.

From a technical perspective, Injective should press against the $10 resistance area sooner rather than later. A failure to do so in the near future will shift the bias from bullish to bearish, especially if the market declines below $5.

The post INJ/USD price forecast after another rejection at $10 appeared first on CoinJournal.

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Bitget Token price surges after Bitfinex lists BGB

  • The price of Bitget Token (BGB) rose nearly 10% on Monday after Bitfinex announced the token’s listing.
  • BGB is the native utility and governance token on crypto derivatives platform Bitget.
  • Bitfinex will open deposits for the token on 25 April 2023 at 10 AM UTC, with trading going live on 27 April 2023.

Bitget Token (BGB) price has surged amid news that major cryptocurrency exchange Bitfinex will be listing the token on its platform. 

BGB price traded to a high of $0.41 on Monday, with the 9% gains at the time of writing also reflected in the jump in Bitget Token’s daily trading volume. The gains means BGB price is now just 21% off the all-time high above $0.51 reached on 16 February, 2023.

Bitfinex to list Bitget’s BGB

BGB is an ERC-20 token that works as a governance token on Bitget and users require it to access and utilize services on the derivatives platform. BGB holders can also stake their tokens and benefit from rewards and discounts, with zero withdrawal fees for staked BGB.

The token is ranked 83 by market cap (currently at $567 million) on CoinGecko and has a circulating supply of 1.4 billion BGB. 

On 24 April, 2023  Bitfinex announced that it would be listing BGB, the native token of Bitget, a top crypto derivatives exchange. The listing put BGB tokens on one of the best crypto exchanges, and the largest one to list the token. Trading on Bitfinex will increase BGB’s liquidity as well as visibility, probably adding to demand.

Deposits for BGB will open on Bitfinex on 25 April 2023 at 10 AM UTC while trading will commence on 27 Apri 2023 around 10 AM UTC. The token’s initial trading pairs are set to be BGB/USD and BGB/USDT.

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Visa reveals “ambitious crypto product roadmap”

  • Visa’s Head of Crypto announced this on Monday.
  • The company is hiring software engineers to help develop the next generation products in blockchain and stablecoin payments.
  • Visa had reportedly paused its crypto-related projects amid the regulatory uncertainty in the US.

Visa, a global leader in digital payments technology, is looking to extend its reach across the digital payments space via a new “ambitious crypto product roadmap.”

Sharing the crypto-related news on Monday, Visa’s Head of Crypto Cuy Sheffield, said the US-based company is eyeing further push across mainstream adoption of public blockchains and stablecoin payments.

Visa announces job hires for crypto-related software engineers

The company is on the hunt for senior software engineers that will help advance this goal, particularly around creating next-generation products powered by blockchain and smart contracts and targeted at improving everyday lives. 

For the hires, Visa would prefer talent that has experience with Github Copilot and other artificial intelligence (AI) assisted engineering tools.

“We have an ambitious crypto product roadmap @Visa and just opened a few reqs for senior software engineers to help us drive mainstream adoption of public blockchain networks and stablecoin payments. Particularly interested in experience using Github Copilot and other AI assisted engineering tools to write and debug smart contracts,” Sheffield announced via Twitter.

The Visa Head of Crypto also linked to a jobs page where the company has highlighted the description for the full-time, London-based job opportunity.

Among other things, interested software engineers should be proficient programmers, with experience in building highly scalable backend systems. Enthusiasm and passion about the Web3 stack is also key.

Visa’s latest announcement on crypto developments at the company comes a few weeks after reports emerged the financial services giant was pausing crypto-related activities amid uncertainty in the US regulatory environment.

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Crypto price prediction: MATIC, FLOKI and DIONE

  • Polygon (MATIC) price has a robust support base at around $0.918.
  • FLOKI price could rise further as the memecoin begins trading on Binance.US.
  • Dione (DIONE) price hit a new all-time high on 24 April 2023 and could make new upward moves amid price discovery.

Bitcoin (BTC) price began Monday with bulls battling to hold onto recent gains above the $27k level, with analysts predicting the benchmark cryptocurrency risks a retest of support at $26,500.  With the gains made following the rally to $31k over the past few days quickly evaporating, traders could look for potential trades in the altcoin market.

But what is likely to happen if markets continue to dump? Here is a crypto price prediction outlook for Polygon (MATIC) Floki (FLOKI) and Dione (DIONE).

MATIC price prediction: Polygon major support at $0.91

The price of Polygon (MATIC) dipped below $1 on Monday as selling pressure for the 10th ranked crypto by market cap saw 140 million MATIC transferred to crypto exchange Binance. Whale Alert highligted one such transaction.

MATIC price also fell as total liquidations for crypto rose 107% to over $89 million in 24 hours, with about $744,000 of this for Polygon.

While MATIC/USD has moved back to near $1 at the time of writing, on-chain data suggests robust support lies around $0.918. A dip to these levels is possible, although a sentiment flip at this major demand reload zone will aid MATIC’s new bullish momentum.

Market data and intelligence platform IntoTheBlock shared the details below about Polygon’s on-chain activity.

“MATIC is back under $1. Let’s take a look at the on-chain activity: 32.56k addresses purchased MATIC at an average price of $0.918. This suggests that if prices return to those levels, investor interest may pick up once again.”

FLOKI price prediction: Floki rips as Binance.US lists FLOKI

FLOKI (FLOKI) price was up more than 33% at the time of writing, trading around $0.000038 as intraday trading volume jumped over 500% to $56 million.

Amid the sharp rise in FLOKI price and market activity has been a major Floki news development. On Monday, crypto exchange Binance.US opened deposits for FLOKI ahead of trading on Tuesday. The reaction to the news was FLOKI price jumping towards highs seen on 17 April 2023.

FLOKI deposits are now open on the Binance.US exchange, with trading in the FLOKI/USD and FLOKI/USDT pairs set to begin on 25 April 2023 at 12:00 pm UTC.

As for FLOKI price prediction, the $0.000040 area remains a major resistance zone. Breaking past this could see buyers target February highs. The road to the long term target of $0.1 remains tough given price is 88% off the all-time high of $0.00033 reached on 4 November, 2021.

Dione price prediction: DIONE hits new all-time high

Dione is a L1 blockchain in development and designed to enable renewable energy trade. The coin is developed by top crypto minds and is tapping into Starlink technology to help increase decentralistion of blockchain nodes.

Dione (DIONE) is trading around $0.0045 as of 12.50 pm ET on Monday 24 April 2023, the price being about 4% up in the last 24 hours. DIONE/USD is up nearly 300% in the past month and 78% in the past seven days.

However, DIONE has retreated roughly 14% from its all-time high above $0.0052 hit earlier today.

Dione has recorded a daily trading volume of over $1 million in the past 24 hours, with a rise in market activity represented by the 289% increase in daily volume. DIONE price is likely to continue in price discovery mode, with possible moves to $0.01 in coming weeks. 

On the flipside, profit taking deals can see sellers push DIONE/USD back to February lows.

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