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Bitcoin [BTC/USD] and XRP/USD Technical Analysis: Waterfall drop threatens to test long-term supports

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The cryptocurrency market saw the floor turning red with blood as major cryptocurrencies exhibited losses of above 5%. Bitcoin [BTC] exhibited a loss of 4.2%, while XRP lost over 12% of its value in the past 24 hours.

Bitcoin:
1 hour:
While the price moved downwards, there exists a crucial resistance level at $6790 level. It has also narrowly avoided breaking the $6150 support level.

However, the psychological support level at $6300 seems to be the bottom that caught the knife in this run. It is holding strong.

There is a long-term uptrend from the $6150 – $6310 mark since mid-Septemeber. This should act as a support for the price in order to prevent it from taking a lower hit.

There are also two downtrends from $6790 – $6700 and $6485 – $6310, representing the general downwards movement the coin has experienced since the past month.

The MACD is showing a bearish crossover, as the MACD is moving below the signal line in a steep downward trajectory.

The Parabolic SAR is indicating bearish momentum on the price.

The WMA is providing resistance at $6490.

1 day:

The $8370 – $6630 is currently in power, with the uptrend from the bottom of $5820 – $6325 contesting it. The 20-period EMA is at $6568. and has not caught up to the price as of yet.

The Stochastic RSI is demonstrating an oversold signal, which is generally considered to be a bullish sign. However, this is also indicative of the sell-off that caused the rice to drop.

The volume spike to a high that was not seen since last month, which is an unusual activity considering the lack of volume in the market. The price oscillator, however, shows that the price continues to move in a parabolic movement.

XRP:
1 hour:
The $0.45 – $0.409 downtrend is in power, with the price continuing to move downwards. The $0.58 – $0.49 downtrend also represents the negative price movement seen by the coin.

The MACD is forming a bearish cross, with more divergence to occur as seen by the histogram moving downwards.

The Klinger Volume Oscillator is also demonstrating a bearish downwards cross, as seen by the oscillator moving downwards.

1 day:
The $0.894 – $0.575 downtrend has been in power since May of this year. However, the uptrend from $0.26 – $0.40 provides a much-needed support for the price.

The Stochastic Momentum Indicator is in the oversold zone, indicating that the price has still not recovered from its sell-off. The DEMA is at $0.502 and is providing a future resistance for the price.

The volume oscillator shows a slight upwards trend, which is different from the movement that has been observed so far.

The Parabolic SAR is flashing a bearish indication since a week.

Conclusion:

Both coins seem to be heading downwards with greater momentum, as the entire market is exhibiting price movement in the same vein.

Bitcoin might test the $6100 and the $5800 support if current price movements continue to occur. The $6300 psychological support level is of most concern at the current moment.

XRP is entering uncharted territory as the coin continues to decrease in value. However, it is unlikely that the coin might test its previous support level if it continues moving downwards.

Source: ambcrypto

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On.Live Is Pleased to Announce That ONL Token Holders Can Now Use Bitgo’s Industry-Leading Wallet and Custodial Offerings

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BitGo is the market leader in digital asset financial services providing security, compliance, custodial, liquidity solutions for institutional investors. BitGo is the world’s largest processor of on-chain bitcoin transactions, processing 15% of global Bitcoin transactions and $15 billion per month across all cryptocurrencies.

In 2018, BitGo introduced BitGo Custody and launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo Business Wallets and BitGo Custody are used by hundreds of clients around the world including the largest cryptocurrency exchanges.

Since its inception in 2013, BitGo has been focused on the institutional market and that makes working together a natural fit, as we want to extend the accessibility of ONL tokens for institutional and enterprise clients.

On.Live is a distributed live video broadcast network project, build to fill the niche in payed live and on demand services delivery in the Internet. The platform offers one of the kind, innovative, no subscription business model, beneficial for all parties involved in On.Live marketplace.

With live streaming on the rise, and lack of other comparably flexible solutions on the market, On.Live is natural choice for access and delivery of live streamed services for individuals, small and big businesses. On.Live is aiming at becoming market leader and platform of choice for everyone who realizes the huge potential in live streaming, and what profits it may bring in his own economic activities.

We believe that BitGo’s support will elevate On.Live’s business potential, contribute to growth of the platform itself and positively affect the security of ONL.

Source:nulltx

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10,000 Retail Shops in France Will Sell Bitcoin, XRP, Ethereum, Litecoin and Dash, Powered by Payments Giant Ingenico: Report

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Bitcoin, XRP, Ethereum, Litecoin and Dash are reportedly expanding to 10,000 points of sale throughout France.

Digycode first rolled out its crypto coupons last year. The startup says it’s now expanding to over 10,000 shops through a collaboration with Paris-based payments giant Ingenico, according to local news outlet Cryptonaute. The leading payments firm reported $2.8 billion in revenue in 2017.

“‘The deployment of Digycode is the result of a partnership between Digital Service and Ingenico, and tobacconists equipped with a Devlyx cash registerare, therefore eligible to sell our product for their customers, commented Christopher Villegas, CEO of Digital Service.”

The crypto startup will offer prepaid recharge coupons that can be purchased in three available increments – 20, 50, or 200 euro – by visiting any of the supported locations. Once a customer redeems the coupon on Digycode’s website by using a secret code, the euro is converted into crypto.The company says crypto balances will appear in the user’s crypto wallet as soon as the transaction is confirmed.

Tobacco shops are selling crypto despite regulatory uncertainty.

France’s tobacco federation was granted permission to sell crypto from the French Prudential Supervision and Resolution Authority, according to a report from the French radio network Europe 1.

But France’s central bank is singing a different tune, saying it has not approved retail sales of cryptocurrency. In addition, the Financial Markets Authority, which regulates the country’s stock market, has issued a statement saying no company is licensed to sell crypto in stores.

Source.dailyhodl
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Crypto-Friendly Wyoming Becomes First US State to Give Bitcoin, XRP, Ethereum, Litecoin, EOS and Altcoin Owners Complete Property Rights

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The Wyomng Senate passed SF125 on Thursday. The “Digital Assets” bill will now become law, granting cryptocurrency holders property rights for direct ownership of digital assets. Wyoming is the first state in the US to pass a clear regulatory framework for Bitcoin, XRP, Ethereum, Litecoin, EOS and other altcoins, setting the stage for cryptocurrency investors, entrepreneurs and crypto-related businesses to flourish in the state.

The bill allows people to hold cryptocurrency without the need for an intermediary to own digital assets, and clears the way for banks to offer custodial services for cryptocurrencies.

According to the act, digital assets are considered intangible personal property.

“AN ACT relating to property; classifying digital assets within existing laws; specifying that digital assets are property within the Uniform Commercial Code; authorizing security interests in digital assets; establishing an opt-in framework for banks to provide custodial services for digital asset property as directed custodians; specifying standards and procedures for custodial services under this act; clarifying the jurisdiction of Wyoming courts relating to digital assets; specifying applicability; authorizing the promulgation of rules; and providing for an effective date.”

Other forms of intangible personal property are partnership interests, life insurance contracts, securities investments and royalty agreements.

The bill is expected to come into effect on July 1. It also supports the advancement of tokenized securities.

Caitlin Long, co-founder of the Wyoming Blockchain Coalition, expects the new legislation to attract blockchain companies and talent, making Wyoming a frontrunner in the space with a clear regulatory framework designed to foster innovation and spur adoption of Bitcoin, altcoins, blockchain-based businesses, trading platforms and crypto custodial services.

Source.dailyhodl

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