Ripple (XRP) Bears?…Prices up 11.1% But Yet to Close Above Key Liquidation Level

 

  • Ripple prices up 11.1 percent but technically bearish
  • Crypto–Fiat bridges important for XRP and crypto
  • Transaction levels up, volumes lower than Jan 10

 

Despite upbeat prices, Ripple (XRP) is technically bearish and yet to breach the 35 cents mark. From our previous XRP/USD iterations, once bulls find momentum and pump prices above 35 cents risk-off traders can begin making projections with first targets at 60 cents.

Ripple Price Analysis

Fundamentals

Crypto may be risky for some governments, but things are beginning to change. As some view them as property, charging capital tax gains on profits, others are warming up to the idea of blockchain as the next inevitable change that despite headwinds will eventually permeate to the mainstream. Malta is one of the many jurisdictions, and now Binance–the world’s largest exchange by adjusted volumes have bases in that country.

Besides being a go-to platform for investors, it is also one of the few exchanges where users can purchase crypto with their Visa credit or debit cards. While many will be attracted to this feature, some Redditors claim that fees depends on volumes and some credit card companies may treat credit card purchases as cash advances which attract additional fees:

“What about any credit card fees? I’ve heard rumors that credit card companies charge it as a cash advance, resulting in additional fees. This drastically changes my position on using credit cards to buy. Unless you can use a Visa pre-paid, the additional fees could be a dealbreaker.”

All the same, thing is, this is an excellent deal for XRP and other crypto users who may not have time to make wire transfer more so when there is an opportunity to capitalize price moving news.

Candlestick Arrangements

Ripple (XRP)

At the time of writing, XRP is up 11.1 percent and 3.2 percent in the last 24 hours. No specific XRP or Ripple related news is pumping prices. So, we reckon that XRP prices are up partly because of resurgent Bitcoin prices and new streams of supportive fundamentals.

Although prices are up, our trade conditions are not yet valid, and prices are trading below 35 cents–the 50 percent Fibonacci retracement level of Dec 2018 high low.

Unless otherwise there are price upswings that trigger risk-off positions, we recommend patience despite Feb 18 rally confirming the double bull reversal pattern of Feb 8. It’s only after when XRP bulls drive price above Jan 14 highs that risk-off traders can buy on dips with first targets at 40 cents and later 60 cents–Dec 2018 highs.

Technical Indicators

Volume is on the rise, and Feb 18 bar had high volumes–52 million, above those of Jan 30–49 million and even those of Feb 8–35 million. Technically, this is bullish, and in an effort versus result analysis, buyers may have the upper hand. However, it would be perfect if Feb 18 bar had high volumes above Jan 10–83 million.

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Bitcoin (BTC) Resurgence, Adoption and Regulator Shift Likely Triggers

 

  • Bitcoin prices up 8.3 percent in the last week
  • Adoption levels could be pumping prices
  • Transaction volumes on the rise

 

Good news is bulls are back. Even with increasing prices, investors and traders have their eyes set on adoption trends. Encouragingly, adoption is on the rise, and now that our previous Bitcoin (BTC) trade plans are live, odds are the next wave of bulls will drive prices towards $6,000.

Bitcoin Price Analysis

Fundamentals

There is an expansion. It seems like the precipitous rise and eventual fall of BTC prices did more good than bad. Yes, prices fell to record lows, and at some point, industry commentators, as well as traders, had strong fundamental reasons to believe that Bitcoin–will despite the fanfare drop, to $3,200 and sub-$2,000 levels.

However, that has not been the case. It’s a recovery, and as prices bottom up, Bitcoin is surely and methodically matching towards its ultimate objective of being a global reserve currency. Skeptics may call this a pipe dream but when we factor in the cyclic nature of prices, the enormous strides made in the last decade and the ballooning fundamentals factors, there is a strong case to argue that Satoshi’s dream wasn’t narrow.

Aside from price action, we note that regulators are thawing to the idea of BTC and the more open up their tax lines partnering with crypto payment processors as BitPay, demand for the coin will keep swelling. Add that to developments like Trading View shifting away from fiat and denominating their premium plans in BTC and Domino’s Pizza accepting BTC via the ever-growing Lightning Network, Bitcoin medium of exchange capability is revealed.

Candlestick Arrangement

Bitcoin

Compared to other coins, BTC is under-performing. At spot rates, the currency is changing hands at $4050–data streams from BitFinex and up 8.3 percent in the last week. It may appear, but Bitcoin (BTC) price swings usually have a magnifier effect on altcoin prices.

Because our trading plans as laid out in previous BTC/USD price analysis are now valid, and prices are trending above $3,800 minor resistance and buy trigger line at the back of decent, above average volumes, risk-off traders can fine-tune entries in lower time frames.

That means every price dip is technically a buying opportunity with the first target at $4,500. On the other hand, risk-averse, conservative type of traders can wait for high-volume expansion above $4,500. From candlestick arrangements and Fibonacci rules, odds are any break above $4,500 could finally thrust prices to $4,500–$6,000 zone.

Technical Indicators

Endorsing our outlook is Feb 18 bull bar. Volumes backing this rally is above average at 37k exceeding those of Feb 8 and that of Jan 10.

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Ethereum (ETH) Price Analysis: Afri Quits, Will Bulls Fizzle Out?

 

  • Ethereum prices up 21.6 percent in the last week
  • Afri Schoedon quits Ethereum after Polkadot, Serenity comparison
  • Transaction volumes picking up

 

Compared to other coins in the top 10, Ethereum (ETH) is leading the bulls procession. Changing hands at around $150, we expect ETH bulls to gain ground ahead of Constantinople.

Ethereum (ETH) Price Analysis

Fundamentals

Blockchain-based projects are unique and special. A genuinely decentralized network will have a healthy mix of developers, investors, and speculators. All of them will contribute in one way or another. Everything else constant, the success or failure of a project depends on the number of dedicated developers. Afri Schoedon, the Ethereum core coder, was one of them. Due to online criticism, he announced his decision of stepping aside and in days ahead would “no longer respond on Gitter, Skype, Discord, Slack, Wire, Twitter and Reddit” directly to any member of public on technical questions or improvement requests regarding Ethereum.

In a tweet, the quitting Ethereum servant said:

 

“I did not quit social media, I quit Ethereum. I did not go dark, I just left the community. I am no longer coordinating hard-forks, building testnets, or contributing otherwise. I did not work on Polkadot, I never did, I worked on Ethereum. I did not hate Ethereum, I loved it.”

Critics started pouring thanks in part to his honest comparison on Thursday last week between Polkadot, a multi-frame network that supports interoperability between wildly different blockchains and Serenity, a scaling solution proposed by Ethereum.

Candlestick Arrangement

Ethereum

At the time of writing, ETH is up 21.6 percent in the last week. Despite Afri quitting, bulls are resilient, and prices are trending at new highs at the back of decent volumes. Although ETH is technically bearish unless of course prices breach the $170 ceiling, we shall retain a bullish outlook in days to come. It is easy to see why.

Firstly, ETH is up above the $135 resistance level, and in a minor breakout pattern, these upswings did confirm bulls of Feb 8 which in turn validate price gains of mid-Dec 2018.

Secondly, ETH found support at around the 78.6 percent Fibonacci retracement level, and as Fibonacci reversal rules dictate, ETH bulls will likely pump prices towards $170– a critical resistance level. Combined with fundamental reasons as Constantinople, we may see a situation where the march towards $170 will hasten.

Technical Indicators

There is a remarkable shift of momentum and as aforementioned, confirming price swells of Feb 18 are high volumes–520k, exceeding those of Feb 8–519k. While bullish, market participation levels are lower than those of Jan 10–684k. Therefore, it is imperative that ETH bulls surge above $160 for a complete reversal of Jan 10 losses in a three-bar bull reversal pattern as prices bottom-up from $100 pits.

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Litecoin (LTC) Up 26.3% In the Last Week, What’s Bogging Down Price?

  • Litecoin prices up 26.3 percent
  • Adoption levels on the rise
  • Transaction volumes low but up from Dec 2018

Despite short-term sell pressure, Litecoin (LTC) is on the rise and adoption levels picking up. We can only conclude this as bullish and a pre-requisite for higher highs above $50.

Litecoin Price Analysis

Fundamentals

The price of a digital asset, a product of supply-demand dynamics, is one of the many metrics of gauging performance. Fashioned as silver to Bitcoin gold, Litecoin is perhaps one of the few coins to gain widespread adoption. Leading the park is Bitcoin and similar to Bitcoin, LTC is one of the most supported assets, available in leading cryptocurrency exchanges across the world.

As impressive as it may be, it is adoption that excites investors and blockchain maximalists. Designed to complement Bitcoin, Charlie Lee is one of the leading investors of Elizabeth Stark’s Lightning Network. Although Litecoin’s LN is not as popular as that of Bitcoin, the coin stands to benefit thanks not only to the positive correlation of price but mainly because of sub-atomic and atomic swaps capability.

Once the testing phase is complete, the network’s capacity will expand, allowing for Litecoin’s and Bitcoin’s expenditure as adoption take root thrusting crypto to the mainstream.

Candlestick Arrangements

Litecoin

Litecoin (LTC) is spearheading recovery in the top 10. After weeks of false bottoms, LTC prices are changing hands at $42, up 26.3 percent in the last week and set for more expansion over the weekend. Like before, we shall maintain a bullish outlook.

Determining our short-term trajectory is the ability of Litecoin (LTC) bulls to sustain prices above $35. The level is our immediate support, and in a classic bull breakout pattern, traders should consider every low a buying opportunity.

For better entries, a Fibonacci retracement tool comes in handy. When we paste it on recent high low, not only does it complement our general outlook backing bulls but it hints of sellers driving prices back to $35-$40 supports. That’s the 61.8 and 78.6 percent Fibonacci retracement level, a typical area where asset prices tend to recover.

Already, there are hints of sellers. Note that today’s bar has a long upper wick meaning there is sell pressure in lower time frames. If prices close below $35, it is likely that sellers will take charge invalidating our outlook.

Technical Indicators

Anchoring our analysis is Feb 8, high-volume bull bar. It is the level of market participants that makes it conspicuous—830k versus 202k averages. That is why trend resumption rejecting lower lows below $35 should be signal by a similar bar with high volumes above 300k and even 830k.

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Ripple (XRP) Boss: Bank-Issued Digital Assets A Deeply Misguided Idea

  • Ripple price edge lower
  • Brad Garlinghouse says bank issued currencies doomed to fail
  • Transactional volumes low

JPM Coin is a bank-issued coin, but it will fail if we factor in Brad Garlinghouse analysis. A synergy is mandatory, and Ripple’s InterLedger Protocol can solve their need. Meanwhile, XRP prices are down and trending inside Feb 8 high–low.

Ripple Price Analysis

Fundamentals

Back in 2017, David Schwartz, Ripple’s Chief Cryptography officer conceded that it would be years before banks adopt distributed ledger technologies. Backing his reasons were scalability and privacy issues. That was then, and right now, we have a new contestant in the sphere—JP Morgan and Chase backed JPM Coin, a stable coin that will serve three functions: eliminate locking of capital in foreign accounts, facilitate inter-bank settlement and be used by the bank for securities transactions. Because these coins are bank-issued, Brad Garlinghouse says they will fail. In a LinkedIn post he says:

“A bank-issued digital asset can only really efficiently settle between the banks who issued it. Then, two scenarios can play out. Scenario one: all banks around the world put aside competitive and geopolitical differences, adopt the same digital asset, agree on its rules, and harmoniously govern its usage. Fat chance. Scenario two (the more likely scenario): banks not in the issuing group issue their digital assets with their own sets of rules and governance.”

Candlestick Arrangement

Ripple

At the time of press, each XRP was changing hands at 30 cents, and this is the seventh straight day of low-range, low volatility price action. Aside from upswings of Feb 8, Jan 30 and those of mid-Dec, the simple fact is that Ripple (XRP) prices are still moving inside Feb 8, high-volume bull bar. That is very bullish.

From a top-down approach, prices are oscillating inside Sep 2018 bull bar, placing bulls at a vantage point. All in all, our last Ripple (XRP) price analysis is valid, and with clear buy triggers at 34 cents, trend continuation is dependent to the levels of market participation and resultant range that will propel prices from current lows.

Technical Indicator

Volumes are low—averaging 15 million. That pales in comparison to those of Feb 8—at 35 million or Jan 30—at 49 million. Ripple (XRP) will only be bullish once a bull bar with volumes exceeding 49 million prints above 34 cents.

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Bitcoin (BTC) Validation as Jamie Dimon’s Sentiment Shift

  • Bitcoin prices ranging with clear supports at $3,400-500 zone
  • JP Morgan and Chase rolls out a stable coin, JPM
  • Transactional volumes average 10k, not enough to trigger buyers into action

With the release of a banker’s stable coin, JPM Coin, crypto is technically valid. As such, we expect more bankers to follow suit endorsing the tech. That may help resuscitate Bitcoin (BTC) prices and lift them above $3,800 complete with high market participation.

Bitcoin (BTC) Price Analysis

Fundamentals

Eventually, everybody does go down the endless rabbit hole call crypto. Many no-coiners are back, retracting their earlier comments and finding a corner in the ever-accommodating crypto ship. The technology is still in shallow waters, the journey promises to be extended (if not turbulent), and JPM Coin is the latest stable coin soldier to join the ranks.

It got many by surprise and as Jamie Dimon’s bank finally realizes that the underpinning tech is here to stay. The announcement is also an endorsement to crypto and their realization that re-adjustment of their business model is the only way for them to maintain and rebuff competition.

Ordinary traders won’t use the coin as JPM will specifically find use in bank-to-bank settlements. All the same, the entry of big businesses like JP Morgan is a big plus, legitimizing everything that crypto holders have always insisted on—speed, efficiency, and control.

BTC/USD Price Analysis

BTC

Still, Bitcoin (BTC) prices are flip-flopping, and even with a defined short-term trend, buyers cannot muster enough momentum. Towing in line with all our last BTC/USD price analysis is the need for market participation. A simple glance into the volumes charts and it is clear that something is lacking. Firstly, note that the failure of prices to inch higher is due to shrinking volumes.

Compared to mid-Dec 2018 highs of around 30k, recent averages are wallowing at about 10k. That’s a 66 percent decrease and a significant cause for this horizontal accumulation inside Feb 8 high low. Technically, prices are trading inside a double bar bull reversal pattern within a larger bear breakout pattern with resistance at $6,000.

Triggers are at $3,800, $120 away from current rates. Therefore, even if we are net bullish, we need to see a shift in momentum and consequent confirmation of our bullish stance as prices rally above $3,800.

Technical Indicators

Volumes are low, and as aforementioned, it has been negative sloping over the last 50 days or so. Because of low averages—around 10k, prices are in range mode, and for validation of our immediate triggers, bulls must thrust prices above $3,800 with high volumes exceeding 32k of Feb 8.

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The Lightning Pump, Bitcoin Adoption Inevitable as BTC Prices Inch Higher

  • Bitcoin prices are technically bullish, must close above $3,800
  • Lightning Network picking up, Domino’s Pizza now accepts Bitcoin via LN
  • Participation levels have been shrinking, volumes behind a bull confirming bar must exceed 35k

From the look of things, Bitcoin adoption will be fast-tracked by the Lightning Network. Elizabeth Stark’s project recently got a boost. At this rate, it appears as if it’s a matter of when before BTC prices rally to $6,000.

Bitcoin Price Analysis

Fundamentals

It’s the month of love, and it seems like merchants are in love with the Lightning Network. Many don’t agree with their off-chain option. Nonetheless, that is the modus operandi of Elizabeth Stark’s LN. Because of this implementation, the Bitcoin legacy network is scalable. Besides, it allows instant transactions without confirmation time worries.

These properties are perhaps the reason why the number of supporting nodes and channels are increasing. As nodes pick up, the total network capacity is also expanding and at the time of press, statistics indicate that the LN capacity is at $2.4 million—or around $645 BTC.

Remember, LN is still in beta. Now, new businesses are interested in allowing their clients to pay for merchandise or services using their Bitcoins via the LN. The latest addition is Domino’s Pizza, a multi-billion-dollar business with more than 15,000 branches all almost all continents of the world including China.

Candlestick Arrangements

Bitcoin

Market participants are expectant, and after 13 months of damaging lows, BTC buyers are trying to wrestle control from bears. Prices are stable but encouragingly up 5.7 percent from last week’s close. All the same, BTC is under immense sell pressure despite gains of Feb 8 when at one point, the coin registered double-digit gains.

The good thing, despite possible downturns, is sellers are yet to reverse losses and trending inside Feb 8, high-volume, wide-ranging bar meaning buyers are technically in charge. However, there must be evidence from candlesticks. Therefore, it is only after prices race above at $3,800—according to data from BitFinex, that aggressive traders can comfortably load up on dips. Our immediate buy targets will remain unchanged at $4,500 with the pace of this target being hit depending on market participation levels.

Technical Indicators

In a defined trend, buyers—as we have mentioned, have to prove their mantle. Market participation levels have been low, shrinking in the last two months from around 33k in mid-Dec to about 10k as registered yesterday.

For buyers to be in control, a bar that prints above $3,800 triggering short-term bulls should have high volumes—exceeding 10k (recent averages) and 32k of Feb 8.

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XRP Arrows Up as Ripple Inc Fund Projects Promoting Coin’s Use Cases

  • Ripple prices are stagnant along 30 cents
  • Wietse Wind to receive funding from Xpring
  • Transactional volumes likely to pick up as XRP prices recover

It’s all about the ecosystem and Ripple—via Xpring, are actively building that. With their funding of Wietse Wind, his project, XRPL Labs will only generate more XRP use cases. In turn, XRP prices will pump and rally from 30 cents.

Ripple Price Analysis

Fundamentals

There are several Ripple-news making headlines that could impact prices from a fundamental point of view. To begin with, Binance collaboration with Simplex—an Israeli based Fintech that says it enables payments while defeating fraud, is precisely what the Ripple and XRP community needs.

While at it, a Director at Xpring—a wing of Ripple tasked with investing and incubating projects lead by serious entrepreneurs–Vanessa Pestritto, said Xpring would collaborate and fund XRPL Labs—a brainchild of three developers lead by the ever-innovative Wietse Wind.

Wietse is an active member of the Ripple community, and according to Vanessa, he is active, developing solutions and use cases promoting InterLedger protocol and other projects that are built on top of the XRP Ledger. With this partnership, Wind will now be working full time at XRPL Labs and join the likes of Stefan Thomas of Coil and Thomas McLeod of Omni.

Candlestick Arrangements

At the time of writing, XRP is changing hands at 30 cents, up 4.5 percent in the last week. Just for comparison, LTC—now the fifth largest coin, is up 26.2 percent in the same time frame.

Given this stagnation in the last few days, our previous XRP/USD trade plan is valid, and unless otherwise there are sharp gains (or losses), resulting in expansion above our minor resistance level, we shall recommend holding a neutral but bullish outlook.

Like before, our analysis is anchored on Feb 8 bull bar. While bouncing off the main support line, there is a clear double bar bull reversal pattern mirroring that of Jan 29-30. It emphasizes the significance of 30 cents as a primary support level and a price tag of interest.

Because prices are still oscillating inside this wide-ranging bar, it is positive for XRP. Especially when we factor in volume indicators. All we need are confirmatory surges above 34 cents. Once this print, it will surely light up price action, drawing XRP demand that would eventually pump prices towards 40 cents and 60 cents.

Technical Indicators

Volumes are shrinking, and the only catalyst necessary for increased participation is if prices rally above 40 cents. For that to happen, accompanying bull bar should have high trade volumes above those of 49 million of Jan 30.

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Tron’s Adoption Drive Not Paying Dividends? TRX Meltdown

  • Tron prices bearish, on a downtrend, retesting main support
  • BitTorrent partner with TronCard via Grid as they drive towards adoption
  • Transaction volumes shrink 50 percent from averages of 16 million to 8 million

It’s all about adoption, and as Tron Foundation strike partners, BitTorrent is partnering with TronCard. Users will carefully spend their TRX spurring demand especially if the application is seamless. It is the necessary building blocks needed for TRX to rally from 2.3 cents to 6 cents.

Tron Price Analysis

Fundamentals

For cryptocurrencies and digital assets to make waves, then coin expenditure is mandatory—not just holding. As rightful owners of BitTorrent, it is good news that TronCard is partnering with BitTorrent days after a successful ICO and consequent listing at various exchanges.

TronCard runs via Grid, a new concept designed specifically for prepaid cards. In this arrangement, a user receives a TronCard preloaded with TRX just like they would have a regular credit or debit card. However, unlike other cards, owners receive interest ranging between 2.5 percent and 3.5 percent of their total TRX holdings.

The card is technically a Tron wallet with a Poppy interface. As a result, TronCard is a simple yet powerful and versatile option for everyone promoting cryptocurrencies and their eventual adoption. With Grid—a product built on the Tron platform, integration, not only will users enjoy a smart wallet and anonymity, but there will be the comfort of using a secure wallet that is regular–but better– than the mainstream.

Candlestick Arrangements

Tron

It is highly likely that TRX is re-calibrating and shaking off the pumping effect of late Jan 2019. At spot rates, the coin is changing hands at 2.3 cents and down 8.4 percent from last week’s close. Because of sellers pressing the gas pedal in the last few days, TRX prices are back to our main support line and could even break below the lows of the double bar bull reversal of Jan 20-21.

From our last TRX/USD trade plan, we said such an event could trigger losses towards 2.1 cents completely invalidating our overall bullish stance of TRX.

Ideally, what we want to see is a recovery above 3.1 cents—Jan 27 highs as bulls of late Dec and throughout Jan are confirmed. After that, it is likely that the bull breakout pattern of Jan 8 will hold as prices snap back to trend rallying above 4 cents and above 6 cents.

Technical Indicators

With every low, participation levels shrink—averages are down from 16 million of late Jan to around 8 million as registered on Feb 13. If anything, this is negative, and all that we need for bull trend resumption is an injection of buy demand pumping prices above 3.1 cents with high trade volumes exceeding 42 million of Feb 4.

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Fees Are “Ungodly”, Buy XRP at Binance Using Your Credit Card

  • Ripple Prices under pressure but bullish
  • Buy XRP using your credit card at Binance
  • Transactional volumes are below average

Good news is Binance is opening up new demand corridors after finally allowing users to buy XRP and other cryptos using their credit card. Undoubtedly, this will help fuel demand and prop XRP prices that risk dropping below 30 cents.

Ripple Price Analysis

Fundamentals

The maverick founder of Binance, Changpeng Zhao has confirmed that indeed one can purchase XRP using their credit cards. If you remember well, buying digital assets via credit cards was something frowned upon by banks.

During the last leg of a bull run that saw asset prices more than quadruple, investors, as well as speculators armed with nothing more than a superficial knowledge of what they were getting involved with, didn’t hesitate to spend everything they had not to miss out.

While others sold their personal belongings including houses, others decided to use their credit cards. Unaware of how volatile prices were at that time, JP Morgan and UK’s Lloyd Bank took it upon themselves, barring their customers from buying crypto using their credit cards. That soon became the norm.

Nonetheless, Changpeng Zhao and Simplex are ready to change this narrative. Aside from fees which some say are “ungodly,” users can now buy XRP using their credit card.

Candlestick Arrangements

Ripple

Meanwhile, prices are on a recovery path—that’s from what we can see. Even so, we shall take the cautious route and, in a wait-and-see approach, steady up for a massive, high-volume breakout above significant resistance and buy trigger line at 34 cents.

The level is a minor resistance line defining the tops of the double bar bull reversal pattern of Jan 13-14. It also marks the highs of Jan 30 while simultaneously flashing with the all-important 61.8 Fibonacci retracement level anchored on Dec 2018 high low.

From the chart, it is clear that we have a double bottom thanks to the rejection of lower lows in late Jan and early Feb. Since we are bullish, drawing guidance from price surges of late Sep 2018, the only time we shall consider taking buy opportunities is when there is sufficient evidence from the chart. That is when prices race above 34 cents as laid out in previous trade plans.

Technical Indicators

Prices are ranging inside Feb 8, high-volume bar. Coincidentally, the same bar is oscillating inside the conspicuous bar of Jan 30. With abnormal volumes of 49 million according to data streams from BitFinex, the only confirmation that will sync with our assertion is when prices print above 34 cents complete with above average volumes exceeding 15 million—our recent averages and 49 million of Jan 30.

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Tron (TRX) Ready For the $5.6 Billion South Korea’s Gaming Industry

  • Tron prices slide 8.5 percent in the last week
  • Roy Liu, the business development manager, signs a deal with two of South Korea’s gaming associations
  • Transaction volumes low, recovery depends on bull trend resumption

The Tron Foundation may be hard at work, but market dynamics are exerting pressure on TRX. It is down 8.5 percent in the last week despite Roy Liu signing an MoU with two of South Korea’s leading gaming associations.

Tron Price Analysis

Fundamentals

Without a shadow of a doubt, Tron Foundation is ambitious. Evidence of their activity driving towards their objectives of decentralizing the web and correcting what many call the old sins of the World Wide Web is all over the place. We can start with BitTorrent and BTT ICO. Not only was it an overwhelming success but the TRC-10 token valuation is up meaning the Foundation is in green.

That’s not all. Seventy-five days after the announcement of the Tron Arcade, there is movement. Roy Liu, who is the Business Development Manager at Tron, has signed an MoU with two gaming associations–Korea Mobile Game Association (KMGA) and the Korea Blockchain Contents Association (KBCCA) — in South Korea.

Apart from the Kimchi Premium and widespread cryptocurrency adoption, the SE Asia country is the world’s fourth largest gaming market. According to GamesIndustry.biz, the global gaming industry generated $134.9 billion in 2018, a 10.9 percent increase from 200. In South Korea, gamers spent $5.6 billion in 2018 alone. As such, it is evident that Tron wants to get a foothold and be a preferred platform in the ever-expanding gaming market. After all, the objective of Tron Arcade is to:

“Empower developers to create and execute on their ideas, to introduce new games and content into an autonomous ecosystem, and to build a strong community of content and entertainment.”

Candlestick Arrangements

Tron

Like yesterday, TRX prices are no better. Despite our positive outlook, the coin is under immense pressure. In the last week, for example, the currency is down 8.5 percent.

With buyers failing to generate momentum and recoup losses, the gap between Stellar and TRX is narrowing. As I write this, the difference stands at $113 million meaning further breakdown could see a possible XLM—TRX flip.

All the same, we maintain a bullish projection, expecting prices to recover and align with pre-BTT ICO bulls set in motion in mid-Dec 2018. From our analysis, any break below 2.3 cents could see TRX prices slide to 2.1 cents. That will automatically take us out of this trade.

However, if prices surge above 3.1 cents snapping to trend and realigning with bulls of Jan 14 and 21, our TRX/USD trade plan will be on course, and prices will easily print and close above 3.1 cents.

Technical Indicators

There is a divergence, volumes are increasing, but prices are dumping. If there is a breakout below 2.3 cents, sellers would be in charge. Confirming this shift of momentum would be high volumes exceeding those of Feb 4—42 million and recent averages of 12 million.

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Bitcoin (BTC) Could “Die” If Block Size Is Reduced From 1MB To 300KB

  • Bitcoin prices bullish and ranging
  • Proposal to slash block size to 300kb resuscitated
  • Transactional volumes low but likely to expand as BTC demand pick up

Luke J is putting forth a bid to reduce block size from 1MB to 300kb. Without a doubt this will affect BTC prices should it make it as a BIP or as a pull request. Meanwhile, BTC prices are consolidating and could print higher if they race past $3,800.

Bitcoin Price Analysis

Fundamentals

There is another twist to the Bitcoin Block size debate. A Bitcoin developer, Luke j, is writing code on the Bitcoin source code in a proposal seeking to further reduce block sizes from 1 MB to 300 Kb. As we know, the topic of block sizing is always contentious drawing criticism and praise in equal measure.

The last time we had a Bitcoin legacy hard fork was at the height of the previous ICO pumped rally when BTC prices were trading at around $8,000 apiece. Proponents of Segwit 2X saw it fit for block sizes to increase from 1MB to 2MB.

After their pitches flopped, Roger Ver and crew formed Bitcoin Cash with the endorsement from Wu Jihan who has since stepped down as the CEO and co-founder of Bitmain. Doubts abound. Critics think Luke’s proposals will quickly die.

However, if there is consensus culminating to a block reduction from 1MB to 300kb, Lightning Network stands to be the primary beneficiary. In a worst-case scenario, transactions will migrate to other scalable platforms as Litecoin, and even Nano are certified fast, settling almost instantaneously. It is still a long way from being considered. Once his proposal evolves to a BIP or a pull request, that’s when it will start ruffling feathers.

Candlestick Arrangements

Bitcoin

At the moment though, BTC prices are steady and doing what it has been doing in the last three days or so—it is flat. However, the fact that it is trading within tight trade ranges and inside Feb 8 high low, is positive for traders and holders.

Before traders load up, it is super important for prices to edge past $3,800. The emphasis on $3,800 is clear. It is the 50 percent Fibonacci retracement line of Dec 2018 high low. Apart from that, the level marks the tops of the double bar bull reversal pattern of Jan 13-14.

Therefore, while there appears to be urgency, patience is the bottom line. Once our trading conditions are live, risk aggressive traders can aim at $4,500 and later $6,000.

Technical Indicators

Volumes are low as price action range. Like in our previous BTC/USD trade plan, any bar that reflects underlying demand should be at the back of high volumes first exceeding averages of 10k and most important 35k of Jan 30—which is above Feb 8’s 32k—according to data from BitFinex.

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XRP and Ripple Stand to Benefit if the World Bank and McKinsey Projections are True

  • Ripple prices are stable but bullish
  • SendFriend receives $1.7 million from Ripple and three other companies
  • Transactional volumes are unexpectedly low four days after Feb 8 expansions

Despite Cory Johnson exiting the company, XRP is stable as Ripple invests in SendFriend. XRP prices stand to break above significant resistance levels. What we would like to see is first prices printing above 34 cents as bulls of Jan 30, and Feb 8 are confirmed.

Ripple Price Analysis

Fundamentals

Let’s crunch in some numbers. In 2016, the World Bank estimated that workers from all over the world would remit $575 billion. Out of this, remittance to developing countries would make up $429 billion.

It is from these developing countries like the Philippines where SendFriend plans to open a payment corridor linking the country with the US. As impressive as it is, these statistics confirm previous findings from Mckinsey. In their 2015 report, they projected that by 2020, the global movement of funds would generate an approximate $400 billion as new payment rails improve efficiency and drastically slashing down costs.

They go on and say that despite scrutiny of distributed ledger technology, analysts postulate that blockchain technology will be extraordinarily vital and shaping not only in banking but payments in particular. Their projections seem to be coming true. Trending news has it that SendFriend has received a $1.7 million in capital from Ripple and two other companies. Their objective is to reduce fees by a whopping 65 percent.

Candlestick Arrangements

Ripple

Four days after expanding, XRP prices are stable. There is no discernible movement in the last few days. As visible from the charts, prices are oscillating within a tight trade range inside Feb 8 high low. Like in all our previous XRP/USD price analysis, we maintain a bullish outlook expecting confirmation of Feb 8 bulls.

After all, buyers are in control in an effort versus result point of view. Besides, the double bar bull reversal pattern of Sep 2018 is now valid courtesy of bull bars of mid-Dec 2018, those of Jan 29-30 and on Feb 7-8. Any surge above 34 cents would trigger a bull run that would eventually propel XRP towards 60 cents.

Technical Indicators

In the short-term, we retain a bullish outlook. However, for this position to be correct, prices must first print above 34 cents as aforementioned. That means XRP prices should rally and register possible double-digit gains. Backing this surge should be high volumes exceeding recent averages of around 15 million and even 42 million of Jan 30.

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Are TRX Prices Dumping Because “Changpeng Zhao and Justin Sun are Scheming”?

  • Tron prices slide, drop 9.7 percent in last week
  • Binance receives a 2-Star Ratings at Trust Pilot
  • Transactional volumes low, averages at 12 million

BitTorrent, Tron, and Binance are in recent days synonymous. It is because of this that a user thinks Binance and Tron are colluding to defraud users. They are entitled to their opinion, but TRX prices are dropping, down 9.7 percent in the last week.

Tron Price Analysis

Fundamentals

Hours after a successful BitTorrent (BTT) airdrop and TRX prices are sinking. Well, this was not in the script and against everything expected by traders. Although BitTorrent and the Tron Foundations will be distributing 10.1 percent of the 990 billion BTT tokens in six years through airdrops, BTT prices should be readjusting to the extra demand by shrinking while the need for valuable BTT tokens should automatically pump TRX prices.

It is logical, but that is unfortunately not the case. For the second straight day, TRX prices have been dropping and risk reversing gains of late and early this month. TRX inability to pump also coincides with new accusations that Binance and Tron are a letdown when important matters are in play. Case in point is the latest BTT ICO. During this time, keen-eyed would be investors noticed that Binance Launchpad did sell 28.44 percent of all the tokens before the official start.

In a medium post, he claims excuses from Binance and Tron was a complete betrayal while “CZ and Justin Sun whose permanent smile in the profile picture” looks like a mockery to those investors who missed out.  He adds that “Binance is quite a young company and its decency is yet to be confirmed by history.” Binance now has a 2-star rating at Trust Pilot.

Candlestick Arrangements

TRX

Meanwhile, TRX is dropping like a stone. After a BTT induced pump, TRX is finally finding fair value. Even though we are bullish on TRX expecting prices to rally above 3.1 cents and later 4 cents as users demand for TRX in preparation for free BTTs, any drop below the double bottoms of Jan 20-21 could see prices sink towards 2.1 cents as our previous TRX/USD trade plans are rendered invalid. While aggressive traders can buy on pullbacks in lower time frames as prices correct towards the 2.1—2.4 cents zone, the best course of action is to wait for a full breakout above 3.1 cents as emphasized before.

Technical Indicators

Recent averages stand at around 12 million. That is low and pales in comparison with those of Feb 4—42 million versus 17 million. Since we are bullish, TRX prices must first print and close above 3.1 cents of Jan 27 highs complete with above average volumes above 12 million and even 42 million. Such expansion will signal buyers ushering in bulls aiming for 4 cents and higher.

The post Are TRX Prices Dumping Because “Changpeng Zhao and Justin Sun are Scheming”? appeared first on NewsBTC.

Bitmain S15 Firmware “Very Buggy”, Will This Claim Affect BTC Prices?

  • Bitcoin prices bullish, road to $3,800
  • A Twitter user picks out a Bitmain S15 vulnerability
  • Transactional volumes low, expansion above 35 k ideal

Although Bitmain is a central player in the ASIC mining sphere, their latest firmware S15 has a weakness, a Twitter user has revealed. Luckily, BTC prices are steady, and with a combination of favorable candlestick arrangements and fundamentals, Bitcoin may end up trending above $3,800.

Bitcoin Price Analysis

Fundamentals

A Twitter user claims to have identified a possible vulnerability in Bitmain’s S15 firmware. However, he has his terms saying he will only point out the weakness once Bitmain submit and complies with GNL License.

The GNL License is a copyleft license that gives the end user the freedom to “share and change all versions of a program–to make sure it remains free software for all its users” according to the definition of the GNU Organization.

In a Reddit Post, James says Bitmain firmware is “very buggy.” He goes on to say it is essential for people to fix the bugs the Beijing based mining giant introduces in their latest S15 firmware. In high-performance mode, AntMiner S15 has a 28 TH/s hash rate with an energy consumption of 1596 W.

Candlestick Arrangements

Bitcoin

Bitmain is the leading player in ASIC mining. Obviously, this undisclosed weakness is likely to trigger other problems and even affect sales. All the same, BTC prices are steady and likely to reverse losses of the last few days.

Notice that our previous BTC/USD trade plans are valid and as long as prices trend above $3,400-500 zone—our immediate support zone, traders stand to profit once prices race above $3,800. That is to say, the level as per our previous iteration is the first minor resistance level. Once prices breach this level,  risk off traders can initiate long positions with modest targets at $4,500.

From candlestick arrangement, this projection is highly likely to be validated. Firstly, aside from prices reversing from the 78.6 percent Fibonacci retracement level, there is a double bar bull reversal pattern complete with a wide range, high volume bar of Feb 8. Everything else constant, this is very bullish. After a prolonged accumulation from early January, a fitting breakout above this congestion is on the cards.

Technical Indicators

From an effort versus result perspective, bulls are in control. The view is even stable thanks to the failure of sellers to extend their reach, reversing gains of Feb 8. A standout, therefore, is the high volumes of Feb 8. Then, volumes were at 32k exceeding those of Jan 28 and Jan 20. But, they were less than those of Jan 10—35k.

As aforementioned, we need to see prices break above this congestion and print above $3,800. Accompanying this breakout should be high volumes exceeding today’s averages of 10k and most importantly 32k.

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Bitcoin Price Recovers as BTC Adds $4.3 Billion in 3 Days: Can the Momentum be Sustained?

  • Bitcoin prices on an uptrend
  • Venezuela is a prime example of why BTC is needed
  • Participation levels are high, poised to increase in coming days

After Feb 8 rockets, it is clear that momentum has shifted from bearish to bullish. Further padded by supportive fundamentals, it is likely that BTC will break and close above $3,800 ushering in a demand wave that would see prices retest $6,000.

Bitcoin Price Analysis

Fundamentals

There is a crisis in Venezuela, and the government’s endless tussle is wrecking ordinary Venezuelans. To quantify how nerve-wracking it has been for Bolivar dominated investments, if you had $1 million worth of Bolivar before the super hyperinflation, that value would be worth $3.4.

That’s how grim the situation is and dark days are expected because of a political standoff. Maduro is clinching to power as the US and allies support the opposition leader. It doesn’t matter. There are no winners. The ones that stand to benefit are those who shifted their wealth to a censorship-resistant, political resistant super currency Bitcoin.

With no point of control, any Venezuelan who moved their stash to BTC before the value wiping inflation has more than quadrupled his holding and still enjoying the luxury of spending his “money” without fear of confiscation.

Candlestick Arrangements

Bitcoin

From a top-down approach, BTC is trading within a bearish breakout pattern with resistance at $5,800–$6,000 zone.

That is almost double the prices of spot rates and a rather ambitious target considering price dumps of the last 13 months. Even so, our previous BTC/USD price analysis is valid, and as long as there is confirmation of Feb 8 bull bar, odds are prices will surge above $3,800 as prices snap back to the trend set in motion by Dec 17.

There are technical reasons backing our stand. First, BTC has support at the 78.6 percent Fibonacci retracement level after correcting from Dec 2018 highs of $4,500. Secondly, following price springs of Feb 8, we now have a double bar bull reversal pattern complete with high trade volumes.

Although there might be attempts to buy on dips, it’s preferable to wait for satisfactory breakouts. That will only happen once prices close above $3,800 as laid out in previous BTC/USD trade plans.

Technical Indicators

Propelling prices from $3,400-500 zone were high volumes exceeding those of Jan 28—17k and those of Jan 20 of 20k. However, Feb 8 volumes were lower than that of Jan 10. All the same, at 31k, it surpassed previous averages of 11k. As a result of this, it is likely that bulls are back and all we need is a close above $3,800 as bulls reaffirm Feb 8 bull bar.

The post Bitcoin Price Recovers as BTC Adds $4.3 Billion in 3 Days: Can the Momentum be Sustained? appeared first on NewsBTC.

Ripple Price Falls and Drops Below Ethereum, Why XRP is Demonstrating Weakness?

  • Ripple prices bullish
  • xRapid adoption should be a top priority
  • Transaction volumes picking up after Feb 8 gains

Shoring our optimism is the expectation of xRapid adoption. Binance is open for a partnership while Ramessa Online is waiting for further clarification before incorporating XRP. In the meantime, XRP is on an upward trajectory, and we expect bulls to drive prices above 34 cents triggering the first wave of sellers aiming at 40 cents

Ripple Price Analysis

Fundamentals

Executives at Ripple continue to broadcast their objectives of continually building a superior platform where financial institutions can use to send and receive funds efficiently.

With xCurrent gaining traction, all eyes are on xRapid, a product that makes use of XRP. While adoption of xRapid is what XRP investors need should they want to see immediate demand and consequent lift off, there are regulatory challenges that put a lid on their ambitions.

All the same, the expansion and contraction of this asset mainly depend on how regulators interpret XRP and later the speed at which they will onboard customers. It is the first conditions that must be defined before we see payment processors as Ramessa Online incorporate XRP and enjoy unparallel speed and cost savings.

Candlestick Arrangements

Ripple

At the time of writing, XRP is stable in the last day and hovering around last week’s close. Because gains were not as strong as those of Ether (ETH), XRP is down to third with a market cap of $12,520 million. All the same, our previous XRP/USD trade plan is valid. Every dip is technically a buying opportunity, and it is easy to see why.

From the chart, surges of Feb 8 did confirm gains of Jan 30 which also mirror upswings of Dec 17. While we are optimistic, our trade conditions are not valid. It will be so when prices thrust above Jan 14 and the 61.8 percent Fibonacci retracement level at 34 cents. Once that happens, our first targets will be at 40 cents and later 60 cents.

Technical Indicators

On average, momentum-shifting volumes must exceed 42 million. That will exceed those of Feb 8’s 35 million but fall short of Jan 30’s 49 million but all the same, it shall thrust prices above Feb 8 and Jan 30 highs towards 40 cents.

The post Ripple Price Falls and Drops Below Ethereum, Why XRP is Demonstrating Weakness? appeared first on NewsBTC.

Tron Price Under Pressure, TRX Drops $105M in 24 Hours, Undesired Effects of BTT?

  • Tron prices bullish but under pressure hours after a snapshot
  • Price drops accompany major Tron announcements
  • Transaction volumes low but poised to rise as TRX find support.

Candlestick formations, as well as fundamentals, favor TRX prices. Even so, TRX is under immense pressure and could cave in if prices drop below Jan 14 lows and main support line at around 2.5 cents. Upon completion of this BTT airdrop, we expect prices to snap back to trend.

Tron Price Analysis

Fundamentals

There is good news for TRX coin holders: they will be receiving free BTT airdrops for the next six years. It is no doubt, good news. During this time, the Tron and BitTorrent foundation will dispense the 10.1 percent of the 990 Billion BTT tokens that has been set aside specifically for this airdrop.

Nevertheless, how are prices fairing? Well, like every other positive announcement or scheduled activity, asset prices are tanking. It was a similar case when TRX launched their blockchain and weeks later when they rolled out their Ethereum compatible virtual machine.

So, hours after what should be a rally, TRX is under immense pressure and retesting the 2.5 cents support. Generally speaking, this is bullish. As such, it is at these prices that savvy traders should load up on pullbacks realigning with the general trend.

Candlestick Arrangements

Tron

From the charts, the path so far has been bumpy despite TRX trading in a bullish breakout pattern. Unlike Bitcoin and ETH, for example, sellers have the better of TRX bulls, with liquidation at around 3 cents.

At spot rates, TRX is retesting our support zone at 2.5 cents. However, we remain bullish partly because of supportive fundamentals and BTT effect and secondly because of favorable candlestick formations. Unless otherwise there is a confirmation of today’s sellers as prices melt below our support line reversing gains of Jan 14, every low is technically a buying opportunity.

Like before, our ultimate target is at 4 cents but conservative, risk-averse traders will be free to load up once there is a high-volume, break and close above 3.1 cents. Before then, aggressive traders should be ramping up in lower time frames with first targets at 4 cents.

Technical Indicators

What is conspicuous on the last few days is the bull bar of Feb 4. Although it had a long upper wick hinting of sell pressure in lower time frames, it had high trade volumes. In a defined bull trend, we shall retain a bullish outlook. However, before conservative traders buy on dips, prices must first print above Jan 27 highs. Marking this surge should be high volumes first exceeding averages of 11 million and Feb 4

The post Tron Price Under Pressure, TRX Drops $105M in 24 Hours, Undesired Effects of BTT? appeared first on NewsBTC.

Bitcoin Price Analysis: BTC Explosion, Surge 8.4%

  • Bitcoin prices recover, find support from $3,400
  • Argentinians can now load their SUBE Travel Cards using Bitcoin
  • Transaction volumes picking up, Bulls are back

It was the objective of Satoshi Nakamoto to roll out a cash payment system. That is why efforts are being made to drive BTC to the mainstream, and aside from Wyoming, Argentinians using public transport means can load up their cards using BTC. No doubt, such efforts will help pump prices from spot rates.

Bitcoin Price Analysis

Fundamentals

For Bitcoin to strive, then it must find use cases. Aware that scalability is a major concern bogging down adoption, developers are working overtime to create a suitable scaling solution. Ahead of the pack is Elizabeth Stark who is working with her team to make Lightning Network a reality.

As a layer two, off chain alternative that has shown to be cheap, scalable and secure, it promises to revolutionize payment. However, it is still in beta. Regardless, critics are pouring in saying Lightning Network takes transaction off-chain, creating central hubs whose operations are against the state of the main chain—complete decentralization.

All the same, critics are quick to lambast a solution yet there are no other viable alternatives to rival LN. Aside from LN progress, public transport users can top up their SUBE Travel Cards using Bitcoin. It was made possible after a successful collaboration between BiTex and Alto Viaje—a travel card loading platform.

Manuel Beaudroit, the CMO of BiTex said:

“We believe that this type of project is of great importance since it brings technology as disruptive as Bitcoin to the common people, demonstrating the true value and the applications it has in everyday life.”

Candlestick Arrangements

Bitcoin

Buoyed by increasing adoption levels and the possibility of a Bitcoin ETF, BTC is clawing back losses and up 8.4 percent at the time of writing. We expect bulls to recover in days ahead and already there are hints from price action characteristics.

Despite recent losses, bulls are technically in charge—at least in the short-term, and resistance stands at $5,800–$6,000. As laid out before, our immediate buy triggers stand at $3,800 and before buyers build enough momentum activating longs, our previous stand is valid until after our trade conditions are live in line with our last BTC/USD trade plans.

Odds of higher highs mostly depend on whether there is confirmation of today’s bull bar. If there is, then those would be the building blocks for further higher highs above $3,800 and later $4,500.

Technical Indicators

As aforementioned, the aim is the complete reversal of Feb 6 losses in a three-bar bull reversal pattern ushering bulls. Powering Feb 6 bear bar were above average volumes—13k versus 10k. Therefore, a solid counter bull bar deflating bears should, first of all, exceed current averages of around 8k. Secondly, it must register high volumes above 13k.

The post Bitcoin Price Analysis: BTC Explosion, Surge 8.4% appeared first on NewsBTC.

Tron Price Analysis: TRX Up, Expect More Pumps Before Feb 11

  • Tron prices picking up, up 3.7 percent in last day
  • Binance CEO is confident; the exchange can weather all market conditions
  • Transactional volumes below average; should increase as TRX demand swell

Following a successful ICO, it was projected that TRX prices would expand as users flock to the coin because of BTT airdrop. However, many are disappointed. TRX prices are not rallying though it is trading within a bullish trend. Regardless, we retain a positive outlook and once prices clear 4 cents, demand will surge inevitably driving prices above 6 cents.

Tron Price Analysis

Fundamentals

Days after a successful BitTorrent ICO, Changpeng Zhao is confident that his exchange can survive all market conditions and bear markets. Indeed, free falling asset prices of 2018—which by the way is spilling over to 2019—took a toll on many established projects.

Meanwhile, Binance seemed resilient. With favorable and open policies towards blockchain and technology, they shifted their offices to Malta opening an exchange in Uganda. While at it, they continued to list new tokens and stable coins allowing users to move their coins to safety against biting bears. Even with this, the CEO is laid back:

“Binance is ready to survive any number of years, no matter if it’s bear or bull. We basically don’t really look at the market too much – not as much as people actually think we do. We just keep our heads down and build features. Our aim is much longer than another year. Our aim is 10, 50, 100 years. So, we’ll be here for a while.”

Candlestick Arrangements

At the time of writing, TRX is back to green, rejecting losses and up 3.7 percent in the last 24 hours. Even so, prices are trending inside Feb 4 high-low meaning bulls are in control. Following steep falls following a successful ICO, it is likely that TRX prices will soar above critical resistance levels as bulls break free from this accumulation and printing new highs above 4 cents and 6 cents.

The projection is not far-fetched. As laid out in previous TRX/USD trade plan, price action is trending within a bullish breakout pattern. Technically, every dip should be a buying opportunity allowing risk-off traders to fine-tune entries preferably in the 1 HR chart or 30 minutes chart with first targets at 4 cents.

While at it, conservative traders should stay on the sidelines only loading up once there is a wide-range, high volume close above 3.1 cents of Jan 27 highs.

Technical Indicators

Volumes are picking up. Although we need Feb 4 bar to be confirmed, the bull bar that would trigger buys should be backed by high volumes ideally registering above 47 million of Feb 4. After that, risk-off traders should buy on dips. First targets will be at 3.1 cents and later 4 cents.

The post Tron Price Analysis: TRX Up, Expect More Pumps Before Feb 11 appeared first on NewsBTC.

Ripple Price Analysis: XRP Up 4.3%, Next Stop 60 Cents

  • Ripple prices are back to green
  • Binance is open for collaboration with Ripple
  • There is an uptick in transactional volumes, XRP likely to register more gains

Binance is open for collaboration, and xRapid incorporation may be on the cards. Assuming that happens, XRP will surely rally above 34 cents to 60 cents in a matter of days as our trade plan reiteration come to pass.

Ripple Price Analysis

Fundamentals

Changpeng Zhao is straight up honest. In a recent podcast, he admitted that nothing is going on between Ripple and the world’s largest exchange by trading volumes as the team at Binance is busy with other projects—DEX updates and Project ICOs.

However, what’s interesting is that he said Binance is willing to partner with the real-time gross settlement platform in the future. That is precisely what the community wants to hear as prices try to maneuver and side step vicious bears.

Obviously, there are many benefits that the exchange stands to benefit once they collaborate with Ripple and even adopt xRapid. There would see immediate demand for the coin which is already in use by several payment processors and institutions. Remember, Binance made XRP base after numerous requests from the XRP community.

Candlestick Arrangements

Ripple

Prices are back to green. As I write this, XRP is up 4.3 percent against the greenback bouncing off the 30 cents main support line as bulls flow back.

Now that there is a green bar, our last XRP/USD trade plan is valid, and we expect bull momentum to lift XRP from spot rates to above 34 cents and even to 40 cents as price action snap back to trend in line with events of mid-Dec 2018 and those of trend-defining surges of Sep 2018.

All in all, we shall maintain a neutral outlook until after prices race first above 34 cents, activating risk-off traders’ position and later 40 cents where risk-averse or the conservative type of traders can buy on dips with targets at Dec 2018 highs of 60 cents. The layout is highly likely to print out because Jan 30 upswings have already set momentum.

Technical Indicators

Our volumes indicators support buyers. However, before we recommend longs, prices must first clear and close above Jan 30 highs of 32 cents at the back of high volumes exceeding 47 million on the upside and 17 million on the lower limit. If anything, this is the only confirmation for bulls and the only way Jan 30 momentum will be set in motion lifting prices back to 40 cents.

The post Ripple Price Analysis: XRP Up 4.3%, Next Stop 60 Cents appeared first on NewsBTC.

Bitcoin Price Analysis: BTC Fundamental and Technical Indicators Diverge

  • Bitcoin price trading within tight ranges
  • Adoption picking up, positive for BTC in the long-term
  • Transactional volume dropping

It’s all about adoption. Luckily, metrics point to increasing participation, a development which is bullish for BTC in the long term. Before we initiate longs, BTC/USD is technically bearish. The position will change after there are substantial gains above $3,800.

Latest Bitcoin News

Fundamentals

Traders, as well as investors, are neck deep in bear territory. However, there is something special about this correction: there is a level of resilience among coin holders. Part of this rejection is because of increasing awareness and Satoshi’s vision-mission statement taking root. Note that Bitcoin is a public blockchain and its source code open. That is why there are divergent interpretations.

On the one hand, some individuals are convinced Bitcoin is not cash but a store of value, a settlement layer where people from all over the world can shield their value from an inflation-resistant network. On the other, BTC can operate as a means of exchange, competing with legal tenders as USD.

All the same, we know that just as easy it was for BTC to jump from $0.001 to $1, there is nothing that can prevent Bitcoin from expanding to $20k, 50k or even $250k. It’s all about adoption, and there is movement in that sector.

Candlestick Arrangements

Bitcoin

Technically, BTC is under immense sell pressure and is “hanging on.” Like before, bulls have as long as they trend within this $300 range between $3,500 and $3,800. Our trade plan is simple: BTC prices must expand above $3,800 with high trade volumes preferably above 35k before we can think of initiating longs.

The only hindrance is Feb 5 bear candle that threatens to drive prices below Jan 2019 lows. Note that is there is a whole bear bar below Jan 2019 lows and this support level, it will be likely that sellers will press lower reversing gains of late Dec 2018. It’s because of this uncertainty that we recommend patience and even shifting BTC to stables until after there is a defined trend.

Technical Indicators

Transactional volumes are drying up, and BTC/USD is trading within a tight trade range. Because of Jan 6 bear bar with above average volumes—13k versus 10k, we need a counter bull bar with equal or higher trade volume for a trend reversal. These volumes should be above Jan 20’s 20k and even Jan 10’s 35k.

The post Bitcoin Price Analysis: BTC Fundamental and Technical Indicators Diverge appeared first on NewsBTC.

Ripple Price Analysis: XRP Reject Losses, IMF Economists Pro Crypto?

  • Ripple price stable, reject lower lows
  • IMF proposes a duo cash system with virtual currencies and cash in circulation
  • Transaction volumes low, likely to spike as prices recover

Finally, IMF economists agree that there is a way governments can incorporate virtual currencies in their economies.  Any assimilation would be an endorsement that would see prices of digital assets including XRP claw back losses.

Ripple Price Analysis

Fundamentals

The global economy is yet to recover from the GFC of 2008-09. With trillions gone down the drain, Satoshi took advantage of this mayhem, releasing an alternative. Soon after, Ripple Inc rolled out a blockchain based system that banks can use to move value instantaneously in a trustless environment. Strides are visible.

As Ripple Inc try to wrestle out dominance from SWIFT and penetrate China, the IMF economists Ruchir Agarwal and Signe Krogstrup are floating an idea. That of creating a dual system of fiat and digital currencies allowing central banks to cut interest rates and even driving them to sub-zero levels.  Here’s what they think:

“The proposal is for a central bank to divide the monetary base into two separate local currencies—cash and electronic money (e-money). E-money would be issued only electronically and would pay the policy rate of interest, and cash would have an exchange rate—the conversion rate—against e-money.”

Candlestick Arrangements

Ripple

After yesterday’s slide, XRP prices are back to positive territory, rejecting lower lows. In an effort versus result point of view, this is bullish, and as mentioned before, every dip is technically a buying opportunity. It is easy to see why.

From the charts, it is clear that bears did struggle to reverse gains of Jan 30. Behind their consistency were below average volumes paling in comparison with those of Jan  30’s 47 million versus 17 million. Considering our position, it is likely that the double bar pattern of Jan 29-30 will be confirmed.

That means rejection of lower lows and reversal of Feb 6 losses. After that, it will be a matter of time before XRP will surge past 34 cents triggering longs.

Technical Indicators

Volumes are low and marking trend resumption will be a spike in market participation driving prices above the 61.8 percent Fibonacci level. Ideally, volume accompanying this uptick should, first of all, exceed averages of 17 million and 47 million of Jan 30.

The post Ripple Price Analysis: XRP Reject Losses, IMF Economists Pro Crypto? appeared first on NewsBTC.

Tron Price Analysis: Book 550,000+ hotels worldwide using TRX

  • Tron prices shrink ahead of Feb 11 BTT airdrop
  • Book hotels through Travala and pay using TRX
  • Transactions volumes low, prices could drop towards Jan 21 lows

Despite increasing adoption and upcoming BTT airdrop, TRX is yet to print above BTT Pre-ICO levels. Nevertheless, TRX stands to weather strong sell pressure and resume their uptrend in the third stage of a classic bull breakout pattern.

Tron Price Analysis

Fundamentals

Through Travala, you can now pay your accommodation using TRX in 82,311 Destinations across 210 countries. What’s more, by settling your bills using TRX and other supported coins, you will be saving. To quantify, paying using TRX in this Next-gen Online Travel Agency (NOTA) is often, 15 percent cheaper and more convenient. It is so because the network is blockchain powered, decentralized with incentives. Developments as these are steps in the right direction as it guarantees demand stemming from increasing adoption.

While Travala increases their payment options, Poppy–a Point of Sale System funded by Tron is already undercutting Visa and other payment processors. As a better alternative to traditional payment systems, Poppy’s objective is to “transport digital currencies into the retail space.” All a merchant or a retailer has to do is to update their point of sale system and install the Poppy app.

Candlestick Arrangements

Tron

There is resistance for higher high, and as liquidation prevents further upsides, prices are relatively unchanged. In the last week, for example, TRX is down 4.7 percent but stable. All the same, we retain a bullish stand.

For aggressive traders, every low is technically a buying opportunity. That is only applicable as long as TRX prices are trending above 2.5 cents. Note that TRX/USD is trading within a bullish breakout pattern with clear supports at 2.5 cents.

As breakout patterns dictate, following an upsurge is a retest. Therefore, in line with this projection, we expect TRX prices to shrink back to 2.5 cents. After that, subject to participation levels, TRX may resume trend as prices race above 3.1 cents towards 4 cents.

However, this largely depends on BTC performance and the demand of TRX ahead of Feb 11 BTT airdrop.

Technical Indicators

Our trade trajectory is clearly defined. TRX is bullish. However, for trend resumption, participation levels must exceed Feb 4 volumes of 42 million. Spikes as such will reaffirm bulls, paving the way for 4 cents as laid out in previous TRX/USD trade plans.

The post Tron Price Analysis: Book 550,000+ hotels worldwide using TRX appeared first on NewsBTC.

Tron Price Analysis: BitTorrent Paying Dividends, TRX Suppressed

  • Tron prices steady but under heavy sell pressure
  • BitTorrent surge 1,000 percent days after ICO
  • Transaction volumes low but likely to increase

Even with sellers threatening to reverse gains, TRX is stable above a critical support level as it trades within a bullish breakout pattern. With BTT rising demand and astronomical volumes, TRX will be the main benefactor.

Tron Price Analysis

Fundamentals

BTT is finally retracing allowing more investors as well as believers to “catch” the token at a discount. While the ride may just be starting, it is the right time for traders to get off the bull ride and re-load. That means fine-tuning entries in lower time frames and preparing for the next leg up, a reminiscent of the now distant glory of late 2017.

It will also be another opportunity to pile up profits despite BTT ballooning 1,000 percent a few days after launch. These price swings show how shrewd and ingenious the Tron Foundation and Justin Sun were when they sunk in $120 million, gambling with a law-breaking protocol.

Early—but limited adopters–are now reaping benefits. Besides, there is a contagion effect, and TRX–whose owners will receive airdrops in the next six years, will undoubtedly receive a boost as BTT demand increase.

Candlestick Arrangements

Tron

Currently, TRX is changing hands at around 26 cents, but prices are all over. Because of BTT bull injection, we expect TRX to expand. However, prices remain steady above 2.5 cents and trending below pre-ICO rates.

All the same, our medium-term trajectory has been set, and as long as bulls maintain TRX prices above 2.5 cents, every low should be a buying opportunity for risk-off traders aiming at 4 cents. If not, and TRX prices slide as dropping BTC prices weigh negatively on BTC, then traders ought to exit their longs once bears breach 2.3 cents–the lows of the double bar bull reversal pattern of Jan 20-21.

Before then, risk-averse traders should set up their trades as laid out before. Triggers remain at 3.1 cents or Jan 27 highs, and upon activation, targets will be modest at 4 cents and later 6 cents.

Technical Indicators

Volumes are thin but rising. As expected, participation levels dropped at Feb 4 upswings—42 million versus 17 million. All we need is a confirmation of this bull bar with heavy sell pressure—notice the long upper wick. Lifting prices above 3 cents confirming Feb 4 bulls should be high volumes exceeding recent averages of around 15 million and 42 million of Feb 4. Those will be the hallmark of bulls hinting of resumption.

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Ripple Price Analysis: XRP Price Action Points at Bulls

  • Ripple price steady, likely to find support at 30 cents
  • Jed McCaleb wallets are dormant, yet to sell XRP from Jan 11, 2019
  • Transactional volumes low, pump possible

Unless there is a collapse below 30 cents, XRP bulls are in control. We expect that to be the case as long as there is increase supply thanks to Jed’s easing off from XRP dumps.

Ripple Price Analysis

Fundamentals

There are two things you should know about Jed McCaleb. Aside from being the founder of the Stellar Foundation, he is also one of the co-founders of Ripple Labs. That’s the official company behind XRP, the digital asset that Ripple Inc owns a majority.

Because of the sheer amount of coins at his disposal and his interest away from XRP, there is a binding interest between Jed McCaleb and Ripple. Behind this agreement which Jed must comply with is the need to protect XRP against price dumps.

Ripple and Jed have been pretty much on the same page until recently when it was observed that Jed was selling coins through his family members exceeding daily thresholds. As a result of this breach, new terms formulated. With new terms, XRP liquidation is via a Charity DAF of his choice.

It is through this fund that he was allowed to sell 0.5 percent of the average daily amount of XRP in the first year. That amount would increase to 0.75 percent in the second and third years and finally one percent in the fourth year. It is a practical approach, but it appears that Jed McCaleb XRP wallets are dormant:

Candlestick arrangements

Ripple

At spot rates, XRP is changing hands at roughly 30 cents. That’s right at the periphery marking Jan 2019 lows and the bases of Jan 30 bullish bar. From our iteration, we note that Jan 30 bar is a critical guiding bar in our Ripple price analysis and as long as bears fail t satisfactorily wipe out those gains, bulls are in control.

We shall continue to hold this stance until when XRP prices melt below 30 cents ushering in short-term bears aiming at 25 cents. On the reverse side, buyers would be in charge if we see an uptick driving prices above its highs at 32 cents complete with high trade volumes. Our minor buy triggers are at 34 cents.

Technical Indicators

Like above, buyers are technically in charge. In an effort versus result approach, the failure of bears to wipe out Jan 30’s bull bar—49 million versus 17 million, six days after it printed is bullish. However, for clear trend resumption as set out by late Dec 2018 gains, upswings must be pumped by above average volumes exceeding 17 million and 49 million.

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Bitcoin Price Analysis: BTCs at CoinBase are Fake—Jack Dorsey

  • Bitcoin prices slide with ultra-low volumes
  • Jack Dorsey thinks BTC owners with accounts at CoinBase hold fake Bitcoins
  • Transactional volumes low, participants apprehensive

Clearly, Bitcoin is battered. It’s even heavier for CoinBase account holders after their quick reminder that they are holding Fake Bitcoins. Proof of Coin? All the same, buyers are struggling to create demand, and until after prices race above $3,800, we shall maintain a neutral stance.

Bitcoin Price Analysis

Fundamentals

From podcasts and interviews, it’s clear that Jack Dorsey, the co-founder of Twitter and the brains behind Square is an avid Bitcoin supporter. He remains adamant that despite slow main-chain throughput, Bitcoin will probably be the native currency of the internet. Bitcoin, as we know, is a public chain and has the direct endorsement from the US SEC. Therefore, the coin is a utility, and no one has direct control of its price.

Besides, it acts as a base for most altcoins meaning entry mandates ownership of Bitcoin. Identifying this gap, Jack through Square’s Cash App continue to earn spreads from users willing to buy BTC off their bank accounts. Aside from this, he is one of the many investors of Elizabeth Start Lightning Network.

Though it’s in beta, LN is a success, drawing in users and increasing in capacity—roughly at 650 BTC at the time of writing. However, Jack’s Cash App is working on allowing users to receive BTC from third-party wallets like CoinBase where he thinks owners with their stash at CoinBase have “fake Bitcoins.”

Candlestick Arrangements

Bitcoin

Meanwhile, BTC is on the verge of capitulation. It’s trending precariously at Jan 2019 lows though with low volumes–positive for buyers. All the same, bears will be in control if there is a confirmation of that bar.

Once that prints out, we shall have every reason to recommend a flight to safety—meaning USDT, PAX or any other supported stable coin. It is so because it is likely that BTC will cave in, retesting lows of Dec 2018 at $3,200 consequently invalidating our previous BTC/USD trade plan.

Technical Indicators

Despite the risk of collapse, trading volumes are thin and tapering. Averages are around 10k, and for confirmation of Jan 28-30 Evening Star pattern, there must be a spike of trading volumes. Ideally, these volumes should print above 20k of Jan 28 and even 35k of Jan 10. That will be the only indicator of market participation. Otherwise, bears would still have the upper hand on BTC prices.

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Bitcoin Price Analysis: BTC Ranging, Blockstream Quick Fix

  • Bitcoin Prices are steady but could rally above $3,600 in days ahead
  • Blockstream’s Proof of Reserves could solve the exchange’s perennial problems
  • Transaction volumes below average

It may be an exit scam or a tragedy, but the bottom line is that QuadrigaCX users stand to lose $190 million. It is unbearable, but that is the reality. All the same, deliberations are in progress. In the meantime, BTC bulls are rejecting lower lows and could print above $3,600 and $3,800 by close of the week.

Bitcoin Price Analysis

Fundamentals

Headline news is that users and traders of Canadian exchange QuadrigaCX risk losing a whopping $190 million.

The reason for this unfortunate mishap and a possible multi-million loss is because the keeper manning the exchange’s cold wallet private keys, Gerry Cotton, died in a humanitarian visit in India where he mysteriously died after succumbing to Crohn’s disease at a tender age of 30. There has been conjecture about this with users not buying the exchange’s narrative. Many hold this is a well-orchestrated exit scam.

There is reason to believe that he may have obtained a fake death certificate enabling them to pull off this heist—where is the body? They quip.  It is through such circumstances that Blockstream is introducing what they call a “solution to provide a best-practice standard Proof of Reserves for the industry” in Proof of Reserves.

Candlestick Arrangement

Bitcoin

In the meantime, BTC is stable and up 0.1 percent in the last day. The move is, to say the least, but will no doubt reveal the presence of buyer rejecting lower lows. Like in our previous BTC/USD analysis, we recommend patience and the before we load longs in the direction of Dec 17, 2018, bulls, prices must first expand above $3,800.

That’s a long way from spot rates oscillating at around $3,500—according to streams from BitFinex. All the same, aggressive, risk-off traders can trade once bull momentum drive BTC prices above Jan 28 bear bar as a three-bar-bull reversal pattern comes to life.

The mark is just above the recent congestion at $3,600. No doubt, such gains will light up the space drawing demand. If not and prices tumble below last week’s low, then BTC may as well retest $3,200 in the near term.

Technical Indicators

Jan 28 highs mark our minor resistance, and while the bar is bearish, it is backed by high transactional volumes—17k versus 10k. We continue to maintain that bears are in control at-least before there is a solid close above Jan 28 to Feb 5 draining congestion. Marking this break above Jan 28 highs or $3,600 should be high volumes above current averages—10k and above 17k of Jan 28.

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Ripple Price Analysis: XRP Stand to Benefit From ASEAN Adoption Drive

  • Ripple price bullish, candlestick formation favor buyers
  • Targets at developing countries and China mean Ripple is better placed to clip SWIFT’s dominance
  • Transaction volumes low. Volumes above 49 million will confirm underlying XRP demand

Sellers may be pressing hard, but XRP bulls are technically in control. Before we recommend longs, XRP prices must first race above 34 cents confirming bulls of Jan 30 and those of late Dec 2018. With supportive fundamentals, this trade plan is valid and likely to print out.

Ripple Price Analysis

Fundamentals

That Brad Garlinghouse and Ripple honchos are ambitious is an understatement. Ripple executives are on a mission and to achieve their objective, they ought to have their presence felt in zones that remain largely un-banked. That is, areas where citizens yearn for financial services but they can’t just access them. Limitations either set by the banks or internal because they aren’t empowered.

The Melinda Gates Foundation core objective is to empower these people and by leveraging Ripple solutions—xRapid, xCurrent or the Ripple Net, the underprivileged will access better services. Besides Mojaloop, Ripple is working hard by creating efficient, payment corridors especially in developing countries like SE Asia, Africa, and the Middle East saving SME and business people from the inconveniences of high costs and latency.

It’s also going to be better now that Ripple is searching for local contacts in China. The introduction of cheap cross-border alternatives in a sprawling, industrialized economy like China means profitability and should liquidity solutions as xRapid find use, then XRP prices will surge.

Candlestick Arrangements

Ripple

At second in the liquidity table, XRP prices are stable. While sellers have had the better of bulls in the last few days, buyers are technically in control. However, before we recommend XRP longs, we shall take a neutral stand knowing that technicals favor buyers.

Note that in an effort versus result perspective, the simple fact that bears are struggling to reverse gains of Jan 30 hints of underlying demand and resistance of lower lows.

As such, it is likely that XRP will find support in days to come. All the same, conservative traders should adopt a neutral stance until prices surge above Jan 30 highs or race above 34 cents—Jan 14 highs. Such a bullish move will automatically trigger risk-off traders into action as they aim for 40-42 cents.

Technical Indicators

Jan 30 and 31 bull and bear bars stand out in our analysis. As a high volume, wide-ranging bull bar, it is significant for bulls and therefore anchors our trade plan. Like we have said, bulls will only be in charge if there is confirmation of Jan 30’s bull bar—49 million versus 17 million. Behind this confirming bar should be a high volume bar with volumes above 49 million of Jan 30-31 and even preferably above Jan 10’s 83 million.

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Tron Price Analysis: TRX—BTT Inverse Relationship, Demand Taper

  • Tron prices in range mode but bullish
  • BitTorrent benefiting from BTT hype
  • Transactional volumes low despite yesterday’s upswings

Although TRX prices are retracting from yesterday’s highs, it stands to benefit from the BTT demand. At the time of writing, TRX is down 1.4 percent from yesterday’s close, but as long as prices are above 2.5 cents, aggressive traders can initiate trades on every dip. Modest targets will be at 4 cents.

Tron Price Analysis

Fundamentals

BitTorrent is and will continue to be a game changer for Tron. Backed by a relentless co-founder and a visionary team, Tron is slowly but surely changing the blockchain landscape. Note that, they were successful in their crowdfunding, raising $7.2 million in 18 minutes. All the same, critics claim the ICO was unfair, favoring deep pockets.

However, with an airdrop for those who placed buy orders but missed out, there has been a recompense of some sorts. It has been even made better by BTT prices surging with coin trackers indicating that BTT market cap stands at $150 million.

BitTorrent

Each BTT token is trading at $0.001065 at the time of writing meaning it is up on average 42 percent against BTC and TRX. At that level, the BTT’s valuation exceeds Tron’s initial acquisition price said to be at $120 million.

Candlestick Arrangements

Tron

With favorable price action and solid fundamentals, TRX is reaping huge benefits from the hype—and surge around BTT. Though the 42 percent rise is yet to be replicated by TRX, bulls appear to be in control. Like in our latest TRX/USD price analysis, every dip should be a buying opportunity for both sets of traders.

The rule applies as long as prices are trading above 2.5 cents—our immediate support level. Aside from solid fundamentals, our stance stems from favorable candlestick arrangement and the resilience of Jan 14 and 21 bull bars rejecting lower lows. Note that behind these bars were high transaction volumes above recent averages of around 15 million.

Technical Indicators

To reiterate, buyers are in control. Because every dip should be a buying opportunity for risk-off traders, conservatives should wait for confirmations. That means prices above 3.1 cents or Jan 26-28 Evening Star pattern should be pumped by high transactional volumes exceeding Jan 4’s 47 million. Only then will they be free to buy on dips with first targets at 4 cents.

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