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Ripple (XRP) Stellar (XLM) Price Analysis – Exhaustion Awaits

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Ripple

Today, we’re going to take a close look at two charts that bear some clear resemblance within the spectrum of large market Coins in the crypto complex right now.

Both Ripple (XRP) and Stellar (XLM) are in wide-swinging trading ranges, or consolidative patterns, in the wake of the energetic mania style bull market that we saw to close out 2017. And both of them may be said to be in relatively bearish postures at present, however, with the potential to inflect and thereby exemplify and highlight what could be interpreted as powerful accumulation bids by strong hands setting the terms of support at key levels.

The most important feature that would mark such a shift would first be signaled by an exhaustion of the selling force that has defined this bearish trend for most of this year to date.

Ripple (XRP)

Price Analysis:

  • High: $0.45184
  • Low: $0.44020
  • Major Resistance Level: $0.47
  • Hourly MACD: Steady Downside Momentum

Chart courtesy of tradingview.com

Ripple (XRP) has established clear and important support around the $0.45 level. This level was established as a level of interest earlier this year when the coin made its lows toward the end of March and the beginning of April. We have now begun to test that level and slightly break underneath it, as we formulate the action for June and July.

This is a critical stage for XRP. As the pattern evolves, one no doubt can see the potential for something similar to a descending triangle pattern underway at a relatively significant time frame.

Under most circumstances, such a pattern has bearish implications. However, it can also be an exceedingly bullish pattern if the attempt to follow through on the downside is denied, thereby highlighting the importance of the level for deep-pocketed bulls who have begun to move in and accumulate this coin.

While we don’t yet see the signals that would differentiate these outcomes in the case of XRP, we do know that recent lows have been exemplified by oversold readings on a number of different important technical oscillators, suggesting that downside momentum has at the very least stalled out.

Selling pressure may well resume, but the region on the XRP chart defining the recent lows toward the end of June should be marked out with a close eye as it can define a reasonable risk point for speculative entries in Ripple (XRP) right now.

Stellar (XLM)

Price Analysis:

  • High: $0.196650
  • Low: $0.183387
  • Major Resistance Level: $0.215
  • Hourly MACD: Oversold on Sharp Momentum

Chart courtesy of tradingview.com

When we look closely at the Stellar (XLM) chart, we see something quite similar to the picture we find in many different coin charts at present: an important low toward the end of the first fiscal quarter that is being retested in recent action.

This process can be viewed a couple of different ways. From one point of view, it’s precisely what you may expect as part of the procession of a bear market. Levels get established, and then they get broken.

But that’s exactly where this type of chart becomes very interesting.

It is, in fact, an important technical testing ground. One assumes that the level being tested represents a spot on the chart – a price level – where we previously saw a large supportive bid enter the complex has a whole, and in Stellar (XLM), in particular.

And that’s where the testing process bears itself out as such an important feature in the construction of a technical chart pattern: if we see XLM attempt to break below that level and effectively fail at that breakdown, then we may, in fact, be seeing an important low come into place that offers a sound entry point for aspiring bulls to get involved with defined risk.

Happy Trading!!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of tradingview.com

Altcoins

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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Blogs

How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Press Release