
Ripple Unveils First Recipients of Financing of Independent NFT Initiatives

The subject of Wave 1 will be unveiled in the second quarter. Applicants for Ripple’s Creator Fund must be self-employed
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The subject of Wave 1 will be unveiled in the second quarter. Applicants for Ripple’s Creator Fund must be self-employed
The post has appeared first on thenewscrypto.com
BTC and most major altcoins could witness a minor dip to retest lower support levels, but the overall trajectory appears to now favor bulls.
This week Bitcoin (BTC) and select altcoins broke above their immediate resistance levels and moved higher, which propelled the total crypto market capitalization above $2 trillion on March 24.
One of the triggers that could have driven crypto prices higher was BlackRock CEO Larry Fink’s letter to shareholders where he said that the Russia-Ukraine conflict has opened up avenues for digital currencies to be used as a mode of settlement for international transactions.
Another bit of news that may have aided the up-move in crypto prices was that Goldman Sachs redesigned its website with emphasis on the growth of digital assets and the metaverse, mentioning them as “megatrends.”
Apart from the increasing institutional interest, Minneapolis Federal Reserve President Neel Kashkari’s statement that the central bank could raise interest rates up to seven times in 2022 to curb inflation may also have boosted bullish sentiment in cryptocurrencies.
Can bulls sustain the higher prices and build upon the up-move or will bears sell aggressively and trap the buyers? Let’s study the charts of the top 10 cryptocurrencies to find out.
Bitcoin closed above the immediate resistance at $42,594 on March 23, indicating that bulls absorbed the supply by the bears. That opened the doors for a move to $45,400 where the bears could again mount a strong defense.
Both moving averages have turned up gradually and the relative strength index (RSI) is in positive territory, indicating an advantage to buyers. If buyers push the price above $45,400, the BTC/USDT pair could rally to the resistance line of the ascending channel.
If the bulls clear this obstacle, the pair could rise to the stiff overhead zone between the psychological resistance at $50,000 and $52,000.
Any correction from the current level is likely to find support near $42,594 and the moving averages. The bears will have to pull and sustain the price below the moving averages to indicate that the bulls may be losing their grip.
The bulls are trying to sustain Ether (ETH) above the resistance line of the symmetrical triangle but the long wick on the candlestick suggests that bears are selling at higher levels aggressively.
The moving averages have completed a bullish crossover and the RSI has risen into the positive zone, suggesting that the path of least resistance is to the upside. If the price sustains above the triangle, the ETH/USDT pair could rally to $3,500 and later to the pattern target at $3,907.
Contrary to this assumption, if the price re-enters the triangle, the bears will try to pull the pair to the moving averages. If the price rebounds off the moving averages, it will suggest that the sentiment remains positive and traders are accumulating on dips. That will increase the possibility of a break above the triangle.
The bears will have to pull the price below the moving averages to negate the bullish view. The pair could then extend its stay inside the triangle for a few more days.
BNB has been consolidating in a large range between $445 and $350 for the past few days. There is a minor resistance at $425 but if bulls clear this hurdle, a move to $445 is possible.
The moving averages have completed a bullish crossover and the RSI is in the positive territory, which suggests a possible change in trend. A break and close above $445 could open the doors for a possible rally to $500.
Alternatively, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, it will suggest that traders may be booking profits near the resistance. That could keep the BNB/USDT pair stuck inside the range for a few more days.
Ripple (XRP) is facing strong resistance at $0.86. A minor positive is that the bulls have not allowed the price to break below the moving averages. This suggests that traders are not rushing to the exit.
If the price turns up from the current level or rebounds off the moving averages, the bulls will strive to clear the overhead hurdle at $0.86. If they succeed, the XRP/USDT pair could rally to $0.91 and thereafter rise toward the psychological level at $1.
The rising moving averages and the RSI in the positive territory indicate an advantage to buyers. This positive view will be negated in the short term if the bears sink and sustain the price below the 50-day simple moving average (SMA) ($0.77).
Cardano (ADA) is attempting to start a new uptrend. When the bulls pushed the price above the overhead resistance at $1 on March 23, it was the first indication that the bears may be losing their grip.
The next level to watch on the upside is $1.26 where the bears will try to stall the relief rally. If the price turns down from the current level or the overhead resistance, the bears will try to pull the ADA/USDT pair to the critical level at $1.
If the price rebounds off $1 with strength, it will suggest that the bulls have flipped the level into support. The buyers will then make one more attempt to clear the obstacle at $1.26. If they succeed, the next stop could be $1.60. This positive view will invalidate if the price breaks below $1.
Terra’s LUNA token once again turned down from the overhead resistance at $96 on March 24 suggesting that bears are not willing to give up easily. The price could now slide to the 20-day exponential moving average (EMA) ($89).
If the price rebounds off the 20-day EMA, it will suggest that bulls are defending this level. The buyers will then make one more attempt to clear the overhead hurdle at $96. If they succeed, the LUNA/USDT pair could rise to the all-time high at $105.
Conversely, if the price turns down and breaks below the 20-day EMA, it will suggest that traders may be booking profits due to the failure of the pair to rise above $96. The price could then drop to $82 and next to $75.
Solana (SOL) broke and closed above the 50-day SMA ($93) on March 23. This move also invalidated the bearish descending triangle pattern. Strong buying by the bulls has pushed the price to the immediate resistance at $106.
The moving averages are about to complete a bullish crossover and the RSI is in the positive territory, which indicates that bulls have the upper hand. If buyers drive the price above $106, the SOL/USDT pair could rally to $122.
Alternatively, if the price turns down from the current level but bounces off the 20-day EMA ($91), it will suggest that the sentiment remains positive and traders are buying the dips. That will enhance the prospects of a break above the overhead resistance.
A break and close below the 20-day EMA will suggest that the pair may consolidate between $81 and $106 for a few more days.
Related: Beware the Bitfinex whale: New $45K BTC sell wall appears amid worries Bitcoin could retrace
Avalanche (AVAX) has been trading between the overhead resistance at $92 and the moving averages. This suggests that bears are selling near $92 and bulls are buying on dips to the moving averages.
If the price turns up from the current level or rebounds off the moving averages, the bulls will again attempt to clear the overhead hurdle at $92. If they manage to do that, the AVAX/USDT pair could pick up momentum. The bears may try to stall the rally at the psychological level at $100 but if bulls overcome this barrier, the rally could reach $119.
This positive view will invalidate in the short term if the price breaks below the moving averages. Such a move will suggest that the pair may remain range-bound between $92 and $65 for a few more days.
Polkadot (DOT) has continued its upward journey, which could reach the overhead resistance at $23. The bears are expected to mount a strong defense at this level.
If the price turns down from $23 but bulls do not cede ground, it will indicate that traders anticipate a move higher. That will increase the likelihood of a break above $23. If that happens, the DOT/USDT pair could rally to $28 and thereafter to $30.
Conversely, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, it will suggest that the bears are active at higher levels. That could keep the pair range-bound between $23 and $16 for a few more days.
Dogecoin (DOGE) broke above the 50-day SMA ($0.13) on March 24 but the bulls are struggling to sustain the higher levels. This indicates that the bears are not ready to give up their advantage.
The 20-day EMA ($0.12) has started to turn up and the RSI is in the positive territory, indicating that bulls have the upper hand. If the price rebounds off the moving averages, the bulls will again try to clear the overhead resistance and push the DOGE/USDT pair toward $0.17.
Alternatively, if the price turns down and breaks below the moving averages, it will suggest that the breakout on March 24 may have been a bear trap. The sellers will then try to pull the pair to the strong support at $0.10.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Market data is provided by HitBTC exchange.
The U.S. Securities Exchange Commission landed a minor procedural victory in its lawsuit with crypto payment firm Ripple, as Magistrate Judge Sarah Netburn approved the agency’s request for a time extension in a Text-Only Order, despite Ripple’s opposition.
Ripple is forging ahead in its quest to improve the XRP ecosystem with huge advancements and recently offering developers a large cache of XRP to build on the XRPL
Bitcoin and most major altcoins remain close to their overhead resistance levels, indicating the possibility of more upside.
Bitcoin (BTC) and select altcoins broke above their immediate resistance levels but are struggling to sustain the higher levels, indicating that bears are not ready to give up.
It is speculated that the spike in Bitcoin’s price on March 22 may have been caused by reports that Terra had sent 125 million USDT to Binance on March 21.
This could be the beginning of the proposed $3 billion worth of Bitcoin that the firm plans to purchase. Terra has undertaken another identical transaction on March 23, which could boost sentiment in the near term.
While this news could provide a short-term spike, it is unlikely to alter the main trend. Bitcoin remains strongly correlated with the S&P 500, which rallied sharply between March 15 to 22. Crypto traders are likely to take cues from the performance of the S&P 500 in the next few days.
Could bulls clear the overhead hurdle and start an up-move in Bitcoin and select altcoins? Let’s analyze the charts of the top-10 cryptocurrencies to find out.
Bitcoin broke above the immediate resistance at $42,594 on March 22 but the bulls could not sustain the higher levels. This suggests that bears continue to defend this level aggressively.
A minor positive is that the bulls did not give up much ground from the overhead resistance on March 23. This suggests that traders are not closing their position near the resistance as they anticipate the up-move to continue.
If buyers push and sustain the price above $42,594, the BTC/USDT pair could pick up momentum and rally to $45,400 where the bears may again mount a strong defense.
This positive view will invalidate if the price turns down and breaks below the moving averages. If that happens, the pair could extend its stay inside the $37,000 to $42,594 range for a few more days.
Ether (ETH) broke above the psychological level at $3,000 and reached near the resistance line of the symmetrical triangle on March 22. The long wick on the candlestick indicates that bears are defending the resistance line.
The bears will now attempt to pull the price down to the moving averages. If the price rebounds off this support, it will increase the possibility of a break above the triangle. If that happens, the ETH/USDT pair could start a new up-move. The pair could first rally to $3,500 and then march toward the pattern target at $3,907.
This bullish view will be negated in the short term if the price breaks below the moving averages. Such a move will indicate that the pair may spend some more time inside the triangle.
BNB bounced off the 20-day exponential moving average (EMA) ($389) on March 21, indicating buying on dips. The bulls pushed the price above the overhead resistance at $407 on March 22 but could not sustain the higher levels.
The 20-day EMA has started to turn up gradually and the RSI is in the positive territory, indicating advantage to buyers. The bulls will try to push and sustain the price above the $407 to $410 resistance zone. If they manage to do that, the BNB/USDT pair could attempt a rally to $445.
Conversely, if the price turns down from the current level, the pair could drop to the moving averages. This is an important support to watch out for because if the bears pull the price below the moving averages, the pair could decline toward $350.
On the other hand, if the price rebounds off the moving averages, it will suggest that bulls are accumulating at lower levels. The buyers will then again attempt to push the pair to $445.
Ripple (XRP) broke and closed above the downtrend line on March 21 but the bulls are finding it difficult to continue the up-move. This indicates that demand dries up at higher levels.
The price has turned down and the bears are attempting to pull the XRP/USDT pair below the downtrend line. If they manage to do that, the pair could drop to the moving averages.
A strong rebound off the moving averages will suggest that traders continue to buy at lower levels. The bulls will then again try to push the price toward $0.91.
On the contrary, if the price breaks below the 50-day simple moving average (SMA) ($0.76), it will suggest that the break above the downtrend line may have been a bull trap. The pair could then decline to $0.68.
Terra’s LUNA token rose above the overhead resistance at $96 on March 21 but the bulls could not sustain the higher levels. This suggests that bears are defending this level aggressively.
However, a positive sign is that the bulls have not given up much ground from the resistance. This indicates that traders are not closing their positions in a hurry as they anticipate a move higher.
If the price breaks and closes above $96, the LUNA/USDT pair could rally to the all-time high at $105. A break and close above this level could indicate the resumption of the uptrend.
This positive view will invalidate in the short term if the price turns down and breaks below the 20-day EMA ($88). The pair could then decline to $82 and later to $75.
Cardano (ADA) broke above the 50-day SMA ($0.94) on March 22 and reached the overhead resistance at $1. Strong buying on March 23 has pushed the price above the overhead resistance, signaling that the downtrend may be ending.
If bulls sustain the price above $1, the ADA/USDT pair could further pick up momentum. The pair could then rally to $1.26. The bears may pose a strong challenge at this level but if bulls overcome this resistance, the pair could extend its rally to $1.60.
Contrary to this assumption, if the price turns down and slides below $1, it will suggest that bears continue to sell aggressively at higher levels. The pair could then drop to the 20-day EMA ($0.89), which is an important level to keep an eye on.
A strong rebound off this level could suggest that bulls are accumulating on dips while a break below the 20-day EMA will indicate that the break above $1 may have been a bull trap.
Solana (SOL) has been sandwiched between the moving averages for the past few days. The bears are selling near the 50-day SMA ($93) while the bulls are buying at the 20-day EMA ($88).
This tight range trading is unlikely to continue for long. If bulls propel and sustain the price above the 50-day SMA, the descending triangle pattern will be invalidated. That could attract buying and the SOL/USDT pair may rally to the overhead resistance at $122.
Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, the bears will try to pull the price to the strong support zone at $81 to $77. A break below this zone will complete the bearish setup, indicating the resumption of the downtrend.
Related: Internet Computer eyes 50% move as ICP enters ‘falling wedge’ breakout territory
Avalanche (AVAX) has been sustaining above the descending channel for the past few days but the bulls have not been able to resume the up-move by pushing the price above $93. This indicates selling at higher levels.
If the price breaks below the moving averages, the bears could pull the AVAX/USDT pair to the uptrend line. Such a move will indicate that the break above the channel may have been a bull trap.
Conversely, if the price rebounds off the current level, it will suggest that bulls continue to buy on dips. The bulls will then again try to clear the hurdle at $93 and push the pair to the psychological level at $100. A break and close above this level could indicate the start of a new uptrend.
Polkadot (DOT) bounced off the moving averages and closed above the overhead resistance zone at $19 to $20 on March 22. This suggests that the bulls are attempting a comeback.
The DOT/USDT pair could now rally to the overhead resistance at $23 where the bears may mount a strong defense. If the price turns down from $23, the pair could drop to the moving averages and consolidate in a range for a few more days.
If bulls push and sustain the price above $23, the pair could pick up momentum and rally toward $30. Alternatively, if the price turns down and breaks below the moving averages, the pair could slide to the strong support at $16.
Dogecoin (DOGE) has been hovering near the 20-day EMA ($0.12) for the past few days, indicating a tough tussle between the bulls and the bears.
The flattish 20-day EMA and the RSI near the midpoint suggest a balance between supply and demand. This balance could tilt in favor of the buyers if they can push and sustain the price above the 50-day SMA ($0.13). Such a move will signal a likely change in trend and clear the path for a potential rally to $0.17.
Conversely, if the price turns down from the current level or the 50-day SMA and breaks below the March 20 intraday low, the DOGE/USDT pair could drop to the strong support at $0.10.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Market data is provided by HitBTC exchange.
Ripple says the securities watchdog has delayed the resolution of the misguided lawsuit “long enough”.
Judge Torres ruled that Ripple is allowed to pursue its fair notice argument. Immediately after the decision, Ripple declared that
The post has appeared first on thenewscrypto.com
Bitcoin and most major altcoins are attempting to sustain above their immediate support levels, signaling a possible change in the short-term trend.
Bitcoin (BTC) and most major altcoins are attempting to start the new week on a positive note by bouncing off their respective support levels.
Goldman Sachs became one of the first major banks in the United States to complete an over-the-counter “cash-settled cryptocurrency options trade” with the trading unit of Michael Novogratz’s Galaxy Digital. This could encourage other major banks to consider offering OTC transactions for cryptocurrencies.
It is not only select nations that are showing growth in crypto adoption. A report by cryptocurrency exchange KuCoin shows that crypto transactions in Africa have soared by about 2,670% in 2022. Bitcoin Senegal founder Nourou believes that Africa could continue its thousand plus percent growth rates in the next few years.
Analyst Willy Woo speculated that Bitcoin’s four-year price cycle, based on the block subsidy halving, may not work as a predictive tool in the future as the price action is likely to be determined by supply and demand.
Could Bitcoin and altcoins climb above their overhead resistance levels? Let’s analyze the charts of the top-10 cryptocurrencies to find out.
Bitcoin is facing stiff resistance at $42,594, indicating that bears continue to sell at higher levels. The bears are attempting to pull the price below the moving averages while the bulls are trying to sustain the price above it.
Both moving averages have flattened out and the relative strength index (RSI) is near the midpoint, suggesting a balance between supply and demand. If the price slips below the moving averages, the BTC/USDT pair could drop to $37,000. Such a move will suggest that the pair could spend some more time inside the $42,594 to $37,000 range.
Conversely, if the price rebounds off the moving averages with strength, it will suggest that the sentiment has turned positive and traders are buying on minor dips. That may improve the prospects of a break above $42,594. If the price sustains above this resistance, the pair could rally to the overhead zone between $45,400 and the resistance line of the ascending channel.
Ether (ETH) turned down from the overhead resistance at $3,000 on March 19 but the bears could not pull the price below the moving averages on March 20. This suggests that bulls are buying on minor dips.
The bulls will attempt to push the price above $3,000 and challenge the resistance line of the symmetrical triangle. This is an important level to watch out for because a break and close above it will signal a possible change in trend. The ETH/USDT pair could then rally to $3,500.
Alternatively, if the price turns down from $3,000 or the resistance line of the triangle and breaks below the moving averages, it will suggest that the pair may extend its stay inside the triangle for a few more days.
Binance Coin (BNB) broke and closed above the 50-day simple moving average ($390) on March 17 but the bulls could not build upon this advantage. The long wick on the March 19 candlestick indicates selling at higher levels.
The BNB/USDT pair turned down and dipped to the 20-day exponential moving average ($386) on March 20. A minor positive is that the bulls have not allowed the price to slip below this level. This indicates that bulls are buying on dips.
If the price rises and breaks above $407, the up-move may continue and the pair could rally to $425. This level may act as a barrier but if crossed, the next stop could be $445.
On the contrary, if the price turns down and breaks below the 20-day EMA, it will suggest a lack of demand at higher levels. The pair could then slide toward $350.
XRP bounced off the 20-day EMA ($0.77) on March 18 and reached the downtrend line on March 19. The bears again defended this level but could not pull the price below the 20-day EMA. This suggests strong buying on dips.
Both moving averages have started to turn up and the RSI is in the positive territory, indicating that the path of least resistance is to the upside.
If bulls push and sustain the price above the downtrend line, the buying could pick up further and the XRP/USDT pair may rally to $0.91. If this level is also conquered, the next stop could be the psychological barrier at $1.
The bears will have to pull and sustain the price below the 50-day SMA ($0.75) to gain the upper hand.
Terra’s LUNA token bounced off the 20-day EMA ($86) on March 18, indicating that the sentiment remains positive and traders are buying on dips.
The buyers have pushed the price to the stiff overhead resistance at $96 where the bears are mounting a strong defense.
If bulls overcome this hurdle, the LUNA/USDT pair could retest the all-time high at $105. The bulls will have to push and sustain the price above this level to signal the resumption of the uptrend. The rising 20-day EMA and the RSI in the positive territory indicate advantage to buyers.
Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, several short-term traders may close their position. The pair could then drop to the strong support at $70.
Solana (SOL) attempted to break above the downtrend line on March 19 but the bears had other plans. They defended the level and pulled the price down to the 20-day EMA ($87) on March 20.
The buyers have successfully defended the 20-day EMA and will again attempt to push the price above the downtrend line.
If they manage to do that, the descending triangle pattern will be invalidated. The failure of a negative setup is a positive sign as it traps several bears who may have sold in anticipation of a breakdown. The SOL/USDT pair could then attempt a rally to $106 and later to $120.
Conversely, if the price turns down and breaks below the 20-day EMA, it will suggest strong selling at higher levels. The pair could then gradually dip to the support at $81.
Cardano (ADA) rose above the 20-day EMA ($0.86) on March 19 and the bulls held off attempts by the bears to pull the price back below the level on March 20. This suggests that the buyers are attempting to start a relief rally.
The bulls will now try to push and sustain the price above the overhead resistance at $1. If they succeed, it will suggest a possible change in trend. The ADA/USDT pair could then rally to the next overhead resistance at $1.26.
Alternatively, if the price turns down from the current level or the overhead resistance and breaks below the 20-day EMA, it will suggest that the pair may remain range-bound between $1 and $0.74 for a few more days.
Related: Bitcoin ‘could easily see $30K’ with stocks due 30% drawdown in 2022 — analyst
Avalanche (AVAX) closed above the descending channel on March 18 and the bulls successfully defended the breakout level on March 20 and 21.
The 20-day EMA ($78) has turned up and the RSI has jumped into the positive territory, indicating advantage to buyers.
If bulls drive and sustain the price above $93, the AVAX/USDT pair could rally to the psychological level at $100. The bears may attempt to stall the rally at this level but if bulls do not give up much ground, the likelihood of a break above it increases.
This bullish view will be negated if the price turns down from the current level and breaks below the moving averages.
Polkadot (DOT) broke and closed above the overhead resistance at $19 on March 19 but the bulls could not build upon this advantage. The bears used this opportunity and pulled the price back below $19 on March 20.
A minor positive is that the bulls have not allowed the price to break below the moving averages. The flattish moving averages and the RSI just above the midpoint suggest that the bears may be losing their grip.
If the price rises from the current level, the bulls will attempt to clear the overhead hurdle at $20. If they manage to do that, the DOT/USDT pair could rally to $23 where the bears may again pose a strong challenge.
This positive view will invalidate in the short term if the price breaks and sustains below the 20-day EMA ($18). That could open the doors for a possible drop to $16.
Dogecoin (DOGE) broke and closed above the 20-day EMA ($0.12) on March 19 but the bulls could not sustain the higher levels. The bears pulled the price back below the 20-day EMA on March 20.
The 20-day EMA is flattening out and the RSI is just below the midpoint, indicating that the selling pressure could be reducing. If buyers push and sustain the price above the 20-day EMA, the DOGE/USDT pair could rally to the 50-day SMA ($0.13). The bulls will have to clear this hurdle to open the doors for a possible rally to $0.17.
Alternatively, if the price turns down from the current level and closes below the intraday low formed on March 20, the pair could drop to the strong support at $0.10.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Market data is provided by HitBTC exchange.
Stuart Alderoty, the general counsel at Ripple believes that crypto is inching toward a decisive moment in 2022.
The market has since made back some of those losses, gaining an extra $139 billion, with the global crypto market cap sitting at around $1.87 trillion.