- Ripple’s XRP is holding big gains of over 6.5% late in the session on Wednesday.
- XRP/USD bulls have managed to settler above $0.4000 price territory, after some initial trouble.
- The next major barrier to breakdown will be $0.4500-0.4600 region, ahead of $0.5000 return.
Ripple’s XRP caught some large buying in the session on Wednesday. The price was seen holding chunky gains of 6.5% in the latter part of the day. XRP/USD is trading at the highest levels seen since 26th December 2018.
XRP/USD ran up to a high area and a level of resistance that capped upside on; 21-22nd November and as noted 26th December. This is the next major area of interest for the bulls to breakdown.
In terms of the key levels to note via the daily confluence detector, to the upside; $0.4679, monthly pivot point resistance, $0.4815, daily pivot point resistance. To the downside; $0.4454, daily pivot point support, $0.4273, monthly pivot point support.
XRP/USD daily confluence detector
Cardano Price Analysis: ADA Price Has Gained 1.31% in the Last 24 Hours
Cardano has been able to yield a slight growth of 1.31% over the last 24 hours. With four major price variations, Cardano price touched as high as 0.047540 USD in this period. The coin is likely to follow a recovery path soon. By the end of 2019, ADA coin may experience a price rally. Let us discuss the current data of the coin now.
Current Statistics of Cardano
|Cardano (ADA)||17th August 03:18 UTC|
|ROI (Return on Investment)||116.38%|
|Coin Circulation||25,927,070,538 ADA|
|Market Cap||1,216,627,881 USD|
|Value in USD||0.046817 USD|
|Value in BTC||0.00000453 BTC|
|24h Volume||44,193,984 USD|
ADA to USD Price Comparison
Today, at the beginning of the day, Cardano price was trading at 0.0473 USD and it started weakening after that. By 05:50 UTC, it was being traded near 0.04447 USD, with a fall of 6.04%. It was, however, followed by a hike of 6.93%, which took the ADA coin to the highest point of the day at 0.047540 USD in just 9 hours and 17 minutes. This growth could not be sustained, and Cardano fell by 2.96% in the next seven and a half hours from 15:08 UTC. The last swing was a marginal recovery of 1.81%, and this took the Cardano price to 0.046964 USD
Cardano Price Prediction
ADA coin’s recent growth hints at the initiation of price recovery by the coin. However, the next couple of weeks may see marginal growth or stagnation. The details of the resistance and support levels are given below:
|Cardano||Resistance & Support Levels|
|1st Resistance||0.047964667 USD|
|2nd Resistance||0.049088333 USD|
|3rd Resistance||0.050640667 USD|
|1st Support Level||0.045288667 USD|
|2nd Support Level||0.043736333 USD|
|3rd Support Level||0.042612667 USD|
Banks like Citi, JP Morgan, Goldman Sachs, BNP, HSBC will come to Bitcoin community for a bail out, claims Max Keiser
Bitcoin’s falling prices for the past few days has alarmed the “recent introduced” masses across the globe, while tempting hodlers who believe “it’s never a bad time to invest in Bitcoin.” One such prominent Bitcoin advocate, Max Keiser, featured in a recent interview with Trade U to discuss the depreciating value of fiat and Bitcoin’s position to fill the void. Hinting at ongoing interest cuts and related market manipulations, Keiser stated,
“If you want to escape money, you only have two choices: One is gold, the other being Bitcoin.”
In this regard, he also highlighted every government’s race to acquire large reserves of gold, which also suggests the depreciating value of traditional currency. Moreover, the investor suggested that Bitcoin market will “stabilize” and eventually “transform from store of value to a medium of exchange.” What may come as a shock to the wider community, Keiser claimed,
“Altcoin market is never coming back. There’s nothing any of these coins can do that Bitcoin can’t do or won’t be able to do shortly.”
Although “no real use case” argument was put up against the altcoin ecosystem, Keiser banks on Bitcoin’s “unstoppable” nature to experience complete dominance during the next financial crash. Envisioning this future, he warned the traditional market and government agencies,
“Those banks like Citi Group, JP Morgan, Goldman Sachs, BNP or HSBC will come to the, Bitcoin community for a bail out. The Bitcoin community will consider it, but of course it would be done on our terms.”
Keiser also highlighted India’s ongoing crypto-ban notion as a “regretful” decision, while contrasting it with New Zealand’s move to allow crypto for tax and payments purposes. Based on the unknown number of Bitcoin reserves held by various nationalities, it is highly speculated that crypto’s mainstream adoption may redefine global power status for every country. As a result, officials have to soon embark a “now or never” situation that will embark a civilization that uses fiat currency as a vintage collection item.
Bitfinex launches new decentralized exchange: DeversiFi
Cryptocurrency exchange Bitfinex is launching a new high-speed decentralized exchange called DiversiFi. The service will allow users to execute orders directly from their private wallets. According to a press release shared with CryptoSlate, DeversiFi will replace the company’s Ethfinex exchange.
An advanced Ethereum decentralized exchange
Ethfinex Trustless, a community-driven exchange developed by Bitfinex, will be evolving into DeversiFi, the company announced in a press release shared with CryptoSlate. The new exchange will exist independently from Bitfinex and will offer multiple new features the company has been working on for the past two years.
DeversiFi will deliver deep order books, narrow spreads and fast execution speeds, the company said, while providing the same performance large, centralized exchanges do. Bitfinex also claimed that DeversiFi is the first and only high-speed decentralized exchange that allows traders to execute orders of any size directly from their private wallets.
The exchange will introduce leveraged trading while keeping margin trading as simple as possible. Lending features will also be provided on the platform, allowing traders to lend directly within the Deversifi interface.
Successful scaling of Ethfinex
Will Harborne, the CEO of DeversiFi, said the new decentralized exchange was a “necessary next step forward” towards the company’s goal of providing a premium service to its clients. Ethfinex Trustless had successfully scaled to the point where users could expect the same performance as that of a centralized exchange.
Paolo Ardoino, CTO of Bitfinex, echoed the statement saying the achievements made by the Ethfinex team have been “incredible.” He also added that DeversiFi was on the right path to facilitate the transition to a decentralized financial world.
According to the company’s press release, all previous users of Ethfinex Centralized will automatically be moved to Bitfinex after it officially closes in September 2019. In the meantime, DeversiFi will be launching new products and features. We are yet to see how Bitfinex’s promises hold up in the next few weeks when more users get on the DeversiFi platform.