Education

Ripple (XRP) Price Technical Analysis: Upward Trajectory Set To Resume

Published

6 years ago

January 25, 2018

Today, Wednesday, January 24, 2018, Ripple announced the addition of two more payment-companies to its list of companies that are using its xRapid product to settle certain transactions.

IDT Corporation and Mercury FX have joined the growing ranks of reputable companies that have partnered with Ripple. This comes on the heels of a similar announcement earlier this month that MoneyGram, one of the largest money-transfer companies in the world, would begin testing the xRapid product.

On the technical analysis side, Ripple continues to show signs of resuming an upward trajectory. Today, Ripple opened at 1.34366.

There wasn’t much in the way daily of range or volume, and the day’s high did not exceed yesterday’s high, even though the low was higher than yesterday’s low. There were, however, three noteworthy technical details that are on display on the daily chart below (Chart #1).

First, Ripple closed up for the second day in a row, albeit not by much at $1.3600, but up nonetheless. Secondly, the high of the day (January 24^th) exceeded the 9-day moving average, also for the second day in a row.

Chart #1: Ripple Daily

The third detail and perhaps the most telling is the fact that the 9-day moving average has shifted in an upward direction. If we look at the two prior time that this has happened (as labeled in Chart #1), the change in direction of the 9-day moving average served as a leading indicator to significant price moves. If the pattern holds, an upward price move is likely to follow.

Chart #2: Ripple 15-Minute

Intraday charts are also showing technical indication of upward price trajectory. Chart #2 above displays a 15-minute chart which shows an ascending triangle pattern that is nearing completion.

These types of price patterns have a high probability of resulting in upward price movements. If price approaches the upper resistance level of the triangle at $1.4094, a buying opportunity will present itself.

Another factor to consider is the overall sentiment of the entire cryptocurrency market. Many of the popular cryptocurrencies, i.e. Bitcoin, Ethereum, and Litecoin, are exhibiting very similar price action.

This is highly indicative of the notion that current factors that are driving market prices are based on the market sentiment that encompasses the entire market, as opposed to one specific cryptocurrency.

This also indicates that the market is being driven heavily by the news.

It’s important to monitor all the top, high-volume cryptocurrencies. If any single cryptocurrency makes a drastic move, it could be a precursor for the others to follow.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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.

Image courtesy of coinmarketcap.com

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

3 years ago

January 25, 2021

chainwire

Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

3 years ago

December 24, 2020

chainwire

Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has…

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

3 years ago

November 24, 2020

chainwire

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH.

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first…