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XRP Price Stellar (XLM) Price: Busted, but What’s Next?

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XRP Price
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Crash mode is in effect once again for the cryptocurrency complex, as a number of large market cap coins emptied out their guts again last night, sliding lower by big chunks.

As we take a close look at the charts of XRP price and Stellar (XLM) price, it’s important to focus an unemotional and clear view on the raw technicals to find an edge as far as tone and levels looking forward.

XRP

Price Analysis

  • High: $0.27671
  • Low: $0.24706
  • 24-Hour Volume: $278.67M
  • 7-day Percent Change: -36.8%

XRP price has taken a beating. Plain and simple. There are no two ways about it. It has been an awful beating at that.

XRP price has fallen nearly 50% over the past month, shattering a key support level at the $0.43 zone and then accelerating lower in a waterfall decline that has outpaced most other large coins over the same period in terms of pure downside action.

At this point, the coin is still sporting the bare minimum as far as a bullish hourly MACD divergence. At the same time, support at the $0.28 level has been busted up pretty badly, opening the trapdoor to test the $0.25 level.

As we noted in our analysis earlier this week, the ultimate support here for XRP may possibly be found at the $0.20 level. In addition, traders should note that the 14-day RSI measure is now printing new all-time record lows, which may support a near-term bounce.

Stellar (XLM)

Price Analysis

  • High: $0.22276
  • Low: $0.19586
  • 24-Hour Volume: $112.46M
  • 7-day Percent Change: -11.38%

Unlike XRP, Stellar (XLM) has been managing to hold well above both its late June lows and late March lows. In other words, Stellar (XLM) has been a clear relative outperformer.

That said, we are also seeing selling here.

Everything is relative when you start to talk about asset class-wide analytics from a technical perspective. In this case, we tend to compare the large market cap coins against one another, and against Bitcoin. For Stellar (XLM), we have a clear case of relative strength that has been in place throughout the summer.

While we broke below the 50-day moving average, we haven’t broken under the bullish pivot formed in late June, which has been a clear reference point for many large-cap coins.

Our current read here is relatively promising given the devastation that we have seen across the complex.

However, one must admit that the larger time frame chart for Stellar (XLM) does appear to be a bearish descending triangle. In other words, bottom picking here – while supported by relative strength metrics – may not be for the faint of heart.

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

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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DEXes
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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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crypto billionaire
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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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TokenRoll
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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