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Is Stellar (XLM) Still A Worthy Competitor For Ripple’s XRP?

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Stellar has failed to hit the ground running in the second half of the year. The project has had little to report in terms of development and partnerships. This has been reflected in the price movement which has been largely bearish.

This slump has further had an effect on its overall ranking, seeing Stellar drop out of the top ten ranked cryptocurrencies by market cap. In addition, slow development has seen the project disregarded as a worthy competitor for Ripple’s XRP.

Unlike Stellar, Ripple is having one of its best years in terms of partnerships and positive developments. Most recently, the company went into partnership with the second-largest money transfer company in the world, MoneyGram, seeing it utilize Ripple’s xRapid blockchain product. This is expected to go a long way in the growth of XRP. As we have reported, Ripple is not stopping at that, the company continues to work on strategic partnerships to help grow XRP in usage and price.

Project Development

Crucial For Price Growth
In contrast, it’s been months since Stellar went into a strategic partnership that will accelerate its growth. For any project, this is a crucial aspect of ensuring the success of the project.

It further attracts investors and drives prices. In terms of development, there has been a slow down with hardly anything to report for months. This is also a fundamental aspect of ensuring prices rise. Investors are encouraged and motivated to keep holding the digital asset. Also though media exposure, the project can attract more investors.

This lack of engagement by the project has steadily shown in the digital assets decline in the last three months. Stellar has dropped from highs of $0.13 to hit a low of under $0.073 reached during the weekend when the asset went on a freefall.

Stellar has an all-time high of $0.938144 which investors continue looking forward to reaching in the near future. This will continue being unachievable if the project does not ramp up efforts to become a leading cross-border transactions solution worthy of locking heads with Ripple.

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EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 24/01/20

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EOS

EOS slid by 2.01% on Thursday. Following on from a 0.13% decline on Wednesday, EOS ended the day at $3.5749.

It was a bearish start to the day. EOS slid from an early morning intraday high $3.6481 to an early afternoon intraday low $3.4948.

Steering clear of the major resistance levels, EOS fell through the first major support level at $3.5697.

EOS fell back through the first major support level at $3.5697 to $3.51 levels before late support kicked in.

At the time of writing, EOS was down by 3.59% to $3.4465. A bearish start to the day saw EOS fall from an early morning high $3.5740 to a low $3.4051.

EOS fell through the first major support level at $3.4971 and the second major support level at $3.4193 early on.

For the day ahead

EOS would need to break back through the first major support level and move through to $3.57 levels to support a run at the first major resistance level at $3.6504.

Support from the broader market would be needed for EOS to break back through to $3.50 levels.

Barring a broad-based crypto rebound, however, EOS would likely fall well short of $3.60 levels on the day.

Failure to move through to $3.57 levels could see EOS struggle throughout the day.

A fall back through the second major support level at $3.4193 would bring sub-$3.40 levels into play.

We would expect EOS to steer well clear of the third major support level at $3.2660, however.

Looking at the Technical Indicators

Major Support Level: $3.4971

Major Resistance Level: $3.6504

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum

Ethereum slid by 3.18% on Thursday. Following on from a 0.95% fall on Wednesday, Ethereum ended the day at $162.4.

Bearish through the day, Ethereum fell from an early morning intraday high $167.79 to a late afternoon intraday low $158.44.

Ethereum fell through the first major support level at $165.20 and the second major support level at 162.73.

Finding late support, Ethereum moved back through to $162 levels to limit the loss on the day.

At the time of writing, Ethereum was down by 2.38% to $158.54. A bearish start to the day saw Ethereum fall from an early morning high $163.00 to a low $157.55.

Ethereum fell through the first major support level at $157.99 before moving back through to $158 levels.

Story continues

For the day ahead

Ethereum would need to move through to

$163 levels to support a run at the first major resistance level at $167.31.

Support from the broader market would be needed, however, for Ethereum to break back through to $160 levels.

Barring a broad-based crypto rebound, Ethereum will likely fall well short of $165 levels on the day.

In the event of a rebound, the first major resistance at $167.31 and Thursday high $167.79 would likely limit any upside.

Failure to move back through to $163 levels could see Ethereum spend the day in the red.

A fall through the first major support level at $157.96 would bring $155 levels into play before any recovery.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $153.53.

Looking at the Technical Indicators

Major Support Level: $157.96

Major Resistance Level: $167.31

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripple’s XRP

Ripple’s XRP slid by 4.71% on Thursday. Following on from a 0.12% decline on Wednesday, Ripple’s XRP ended the day at $0.22583.

Tracking the broader market, Ripple’s XRP slid from an early morning intraday high $0.23725 to a late intraday low $0.22077.

Ripple’s XRP fell through the first major support level at $0.2327 and the second major support level at $0.2285.

Finding support at the third major support level at $0.2206, Ripple’s XRP recovered to $0.2260 levels before easing back.

Ripple’s XRP failed to break back through the major support levels late on.

At the time of writing, Ripple’s XRP was down by 1.96% to $0.22141. A mixed start to the day saw Ripple’s XRP rise to an early high $0.22628 before sliding to a low $0.21771.

Ripple’s XRP fell through the first major support level at $0.2187 before recovering to $0.22 levels.

For the day ahead

Ripple’s XRP will need to move through to $0.2280 levels to support a run at the first major resistance level at $0.2351.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.23 levels.

Barring a broad-based crypto rebound, Ripple’s XRP would likely fall well short of the first major resistance level and Wednesday’s high $0.23725.

Failure to move back through to $0.2280 levels could see Ripple’s XRP struggle throughout the day.

A fall back through the first major support level at $0.2187 would bring the second major support level at $0.2115 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer of sub-$0.21 levels.

Looking at the Technical Indicators

Major Support Level: $0.2187

Major Resistance Level: $0.2351

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Thanks, Bob

This article was originally posted on FX Empire

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Cryptocurrencies price prediction: Bitcoin, Ripple & Bitcoin Cash – European Wrap – 23 January

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Bitcoin Price Prediction: BTC/USD in lock-step trading as $9,000 becomes a mirage – Confluence Detector

The market is deep in the red, starting with Bitcoin’s 1.92% loss on the day. Altcoins are also trimming the gains accrued from last weekend led by Ethereum Classic’s 5.42% dive, IOTA’s 5.39% decline and Bitcoin Golds 4.67% loss.

XRP transactions cannot be blocked, Ripple’s CTO explains why

Ripple’s XRP, now the third-largest digital asset with the current market value of $10.0 billion has

lost 3% in recent 24 hours. The coin bottomed at $0.2280 during early Asian hours and recovered to $0.2300 by the time of writing. The coin has been moving in sync with the global cryptocurrency market, driven by strong bearish sentiments amid growing volatility.


Bitcoin Cash miners told to donate 12.5% of their revenues to support the ecosystem

Bitcoin Cash, the fourth largest digital asset with the current market value of $6.1 billion has lost 2.5% in the recent 24 hours amid global correction on the cryptocurrency market. At the time of writing, BCH/USD is changing hands at $335, off the recent high registered at $404.

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Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin – European Wrap – 22 January

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Bitcoin Price Prediction: BTC/USD technicals align for another assault at $9,200 – Confluence Detector

Following an incredible week of bullish performance that saw Bitcoin correct upwards from $7,700 to $9,200, consolidation is setting in as traders get ready for another attack on $9,200. The recovery, not unique to Bitcoin, pushed most altcoins significantly upwards. Some like Bitcoin Cash, Bitcoin SV, Dash and Ethereum Classic, corrected above key descending trendline resistances. The growth among the altcoins has led to a decrease in Bitcoin’s dominance in the market.

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Ethereum Price Analysis: ETH/USD moves within short-term upside channel

Ethereum, the second-largest digital asset with the current market value of $18.5 billion, bottomed out at $161.11 on January 20 and has been gaining ground ever since. The coin has gained over 1% on a day-to-day basis and stayed mostly unchanged since the beginning of Wednesday. ETH/USD attempted a rise above $171.00, but the move proved to be unsustainable and the coin slipped back below $170.00 level.

Litecoin price analysis: LTC/USD bulls desperate to push the price above $60.00
Litecoin, the 7th largest digital coin with the current market value of $3.6 billion, hit the intraday high at $59.14 and retreated below $58.00 by the time of writing, LTC/USD is changing hands at $57.95, mostly unchanged both on a day-to-day basis and since the beginning of Wednesday.
The coin has been range-bound with bullish bias since it hit $55.34 on January 19.  Litecoin’s price movements are affected mostly by speculative sentiments and technical factors.
 

 

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