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XRP Coin to Fiat ATM Withdrawal Sparks Excitement in Ripple Crypto Community

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The biggest qualm expressed by non-members of the crypto space is that the cryptocurrencies driving the market do not seem to have any external, real-life use. While it might be great to be one of the lucky people holding onto bags of valuable currency, this means very little when it comes to affording the basic necessities of daily life, many of which are sold by merchants with no interest in payment in the form of volatile and unpredictable cryptocurrencies. But the use of cryptocurrency ATM machines might be changing that.

In the beginning the creation of a Bitcoin-to-USD ATM machine captivated the interest of the community. Before long, however, the luxury of converting crypto to fiat was being enjoyed by far more than just the lucky few still holding onto the dominating and most popular cryptocurrency currently on the market. Instead, cryptocurrencies all over the space, including Ether, Dash, and Bitcoin Cash, have seen ATM machine sporting their logos cropping up in places all over the world.

This week saw yet another bullish sign of mass adoption for XRP, the native cryptocurrency embedded into Ripple’s framework for banking solutions using blockchain.

A Japanese company has now made it possible to use normal ATM machines as cryptocurrency exchanges for the fiat currency of the country, the Japanese Yen. Following an extraordinary couple of weeks of explosive bullish growth in the XRP markets, this new introduction of an XRP ATM machine is a very welcome sign for many within the community—and it could be a sign of more things to come.

About Wirex Visa

The driving force behind the exciting story is Wirex Visa.

Wirex is a startup company trying to make cryptocurrencies more accessible and useful in daily life. They drew international attention within the crypto community when they recently released the card with capabilities for Bitcoin, Ethereum, and Litecoin. These currencies were, at the time, the most popular on the market.

Wirex functions in a relatively intuitive manner.

The card comes preloaded with cryptocurrency when the user links their crypto wallets to the card using the simple user interface on the Wirex website. Then, when someone wants to convert their cryptocurrency to cash, they simply use an ATM machine and withdraw the currency in the form of whatever fiat money they would like to have.

The card has been hailed as some to one potential path towards mass adoption of cryptocurrency and blockchain technology, while other fear that it is yet another stepping stone towards a dangerous end-game of the institutionalization and centralization of cryptocurrency.

XRP and Wirex

One video stirred the excitement now likely to drive the XRP markets in the coming days. The CEO of Wirex, Pavel Matveev, released a video of himself walking up to an ATM in Japan, inserting his card loaded with Ripple’s XRP currency, and then withdrawing 10,000 Yen, the currency of Japan. The video went viral almost immediately, causing speculation from some investors that a resultant bull run was inevitable.

The Wirex card also allows users to deposit cash, withdraw fiat money, or transfer crypto quickly and effectively.

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Cardano [ADA/USD] Technical Analysis: Interim bullish push imminent; bears yet to show mercy on long haul

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Cardano [ADA] seems to be getting a bullish push in the short-term, even as the bearish trend in the medium to long-term seems to not fade away. There seems to be no respite from the bear attack in the long-term as the downward trend in price is still going strong.

ADA, the ninth largest cryptocurrency in the world, is currently trading at $0.0759, after going down at -1.19% over the last day. It has a market cap of $1.97 billion, with a 24-hour trade volume of $18.02 million.

1-hour:

Source: Trading View

Source: Trading View

On the one-hour graph, a strong downtrend can be seen from $0.0827 to $0.0806, and then further to $0.0788 between October 15 to October 21, 2018. Another downward movement can be seen from $0.0786 to $0.0774 on October 22, 2018.

An upward drift in prices can be seen from October 16 to October 22, 2018, from $0.0749 to $0.0787. A short-term upward trend was seen on October 22, 2018, from $0.0770 to $0.0773.

The Awesome Oscillator chart shows green bars emerging after a string of red bars. This is a clear indicator of a bullish market.

The Parabolic SAR chart shows the dots aligned under the candlesticks, indicating a bullish market.

The RSI chart shows the token recovering from an oversold position slowly, with the buying and selling pressure evening each other out.

1-day:

Source: Trading View

Source: Trading View

According to the one-day graph, the strong downtrend in the long-term seems to be robust between June 4 to October 22, 2018, from $0.226 to $0.181, further to $0.078.

An upward trend is seen from September 18 to October 7, 2018, from $0.063 to $0.081, and between October 15 to October 22, 2018, from $0.071 to $0.077.

The Fisher Transform chart shows the Fisher line moving uphill, crossing the trigger line. This indicates a bullish trend.

The MACD chart shows the moving average line on a downward drift, crossing the trigger line. This indicates a bearish market.

The Chaikin Money Flow chart shows the current value at -0.118. This indicates that money is flowing out of the market. This is a clear indicator of a bearish market.

However, an upwards drift seems to be emerging, pointing at a temporary bullish trend.

Conclusion:

In the short-term, if the prices are to move up as indicated by Parabolic SAR and Awesome Oscillator, the immediate resistance will be $0.078. If it is broken, the next resistance will be at $0.0806.

If the prices move down as predicted by RSI, the supports will be at $0.0767 and $0.0759.

In the long-term, if the prices are to go down as predicted by MACD and Chaikin Money Flow, the supports will be at $0.070 and $0.063.

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Litecoin [LTC/USD] Technical Analysis: The bear continues to plunder the market

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Litecoin [LTC], the 7th largest cryptocurrency that was created by Charlie Lee to provide compatibility and support to Bitcoin has not been doing well in the market, of late. The coin was booming earlier this year but has now slumped lower than ever to move sideways.

At the time of writing, LTC dumped by 1.77% in the cryptocurrency market. It is trading at $52.34 with a market cap of over $3 billion and a 24-hour trading volume of $267.4 million.

1-hour:

LTCUSD 1-hour candlesticks | Source: tradingview

LTCUSD 1-hour candlesticks | Source: tradingview

In the timeframe of 1-hour LTC candlesticks, the support is set at $53.02. The downtrend line from $60.7 to $53.9 is likely to form a descending triangle with the support. Hence, the market for Litecoin appears to be downwards.

The MA line in the MACD indicator touched the signal for a bullish crossover but strung back down to run underneath it. This is suggestive of a slump in the LTC price trend.

Next, the RSI is also betting on a bear market for the cryptocurrency, currently taking a downhill walk to flash warning for a drop in price.

The Klinger Oscillator made a bullish crossover a while back but is currently crashing, suggesting a bad price trend for Litecoin.

1-day:

LTCUSD 1-day candlesticks | Source: tradingview

LTCUSD 1-day candlesticks | Source: tradingview

In the 1-day scenario, the candlesticks appear to be experiencing a downward trend in the Litecoin market. Since May, the coin has broken multiple supports, including one at $53.3 and another at $51.7. Currently, the support is set at $53.2 and might act as the baseline for the descending triangle likely to be formed by the resistance line ranging from $179.1 to $54.3.

The Parabolic SAR is bullish on the LTC market wherein the dots are currently dancing below the candlesticks, uplifting the price trend of the coin.

The Chaikin Money Flow was in a balanced space for a while but is currently below the 0-line, crashing further down.

The Awesome Oscillator is also in the red-zone, flashing a danger sign for the cryptocurrency.

Conclusion:

The technical analysis can be concluded by assuming a bearish trend for the Litecoin market since most of the indicators are evident in siding with a negative prediction. However, the Parabolic SAR in the 1-day timeframe looks positive of the situation, against all odds.

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Bitcoin [BTC] can disrupt centralized banking and financial institutions, says Andreas M Antonopoulos

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During a Q&A session, Andreas M Antonopoulos, the Author of Mastering Bitcoin and a well-known Bitcoin influencer, spoke about whether Bitcoin [BTC]’s price plays a significant role in its adoption. He also spoke about whether Bitcoin can disrupt the governments, financial system and reduce corruption if the cryptocurrency’s value does not greatly increase in value relative to goods and services including fiat currencies.

Antonopoulos stated that cryptocurrencies can disrupt centralized banking and financial institutions. This is because of the “mere fact” that cryptocurrencies exist as an exit system, a “safety vault” and as a “safe haven”, he said. Moreover, he said that the increase in Bitcoin’s price is not going to be the prominent player in bringing about the change. Whereas, Bitcoin being used by people in order to escape from oppressive governments who are stealing their citizen’s money will be a catalyst to bring about the change.

The author said:

“…it’s not values that makes it useful it’s utility that makes it valuable. So it’s the other way around so Bitcoin will increase in value if it’s useful and it doesn’t need to increase in value in order to be useful that’s confusing cause and effect”

Antonopoulos further spoke about Bitcoin’s real-world use-case for the unbanked. The author was questioned about why there were only 4 billion people using banks around the globe; whether it was due to improper identity proof, people’s lack of trust in the current financial system or if it was cost-effective for banks to not have branched in rural areas.

The Bitcoin influencer stated it was because of all the 3 above-mentioned reasons – lack of identity proof, access to banking facilities and distrust in the financial system. He further added that the total number of people around the world who do not have the ability to open a bank account was quite “shocking”. He went on to say that even if these people had access to the financial systems they would end up facing several restrictions, including the withdrawal and deposit limit.

Antonopoulos said:

“So even though the numbers are somewhere between two and a half billion and four billion people who have zero access to banking so cash based entirely, there’s also another two billion people who have access to banking but that access is severely restricted so they have access to perhaps one currency with very few choices they can’t change currencies…”

He further added:

“so it’s not really their money so all of this great sum of people who are either unbanked completely or under banked is one of the things that I think we may be able to solve with Bitcoin and other cryptocurrencies in the long run”

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