Day: January 26, 2024

XRP Price Takes Hit, Can Buyers Save The Key $0.50 Support?

XRP price is consolidating above the $0.50 support. The price could gain bearish momentum if there is a close below the $0.50 support. XRP is showing bearish signs below the $0.525 and $0.550 resistance levels. The price is now trading below $0.525 and the 100 simple moving average (4 hours). There is a connecting bearish trend line forming with resistance near $0.520 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair start a fresh increase if it clears the $0.520 and $0.525 resistance levels. XRP…

Ethereum Price Could See Technical Correction But Upsides Might Be Limited

Ethereum price is attempting a recovery wave above the $2,200 zone. ETH could start a decent increase if it settles above the $2,240 resistance. Ethereum started an upside correction from the $2,165 zone. The price is trading below $2,250 and the 100-hourly Simple Moving Average. There is a short-term bearish trend line forming with resistance near $2,225 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a decent increase if it clears the $2,240 resistance zone. Ethereum Price Eyes Recovery Ethereum price managed to form…

Potential Freeze On CBDC Launch In The UK Raises Concerns

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On January 25, the Bank of England (BoE) and HM Treasury published a response to the Consultation Paper regarding a ‘digital pound’ issued in February of 2023.  The consultation paper sought the public’s feedback on introducing a UK central bank digital currency (CDBC). Is The UK Ready To Introduce Their CBDC? The BoE and HM Treasury consider that introducing a CBDC could provide people with an “additional choice of safe payment that is fit for the future,” unlock development opportunities for businesses, and make day-to-day payments more “convenient” while reducing…

Bitcoin Price Eyes Recovery But Can BTC Bulls Regain Strength?

Bitcoin price is aiming for an upside break above the $40,500 resistance. BTC bulls could face heavy resistance near $40,850 and $41,350. Bitcoin price is attempting a recovery wave from the $38,500 support zone. The price is trading just above $40,000 and the 100 hourly Simple moving average. There is a crucial bearish trend line forming with resistance near $40,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could struggle to settle above the $40,400 and $40,500 resistance levels. Bitcoin Price Eyes Upside Break…

Why Cardano Could Be The Next Big Crypto Winner: An Influencer’s Perspective

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In a recent video from the crypto-based YouTube channel Cheeky Crypto, the host underscores Cardano’s (ADA) approach, which separates it from its contenders, particularly its reliance on “academic rigor” and “research-driven development.” Dropping out his reasons for being bullish on Cardano, the host highlighted the blockchain’s core use cases; starting in the video, the host defined Cardano as a proof-of-stake (PoS) blockchain platform developed using a “methodical, evidence-driven approach,” firmly anchored in the principles of “scientific research and academic thought.” According to the host, the Cardano development team aims to…

Circulating Market Cap Outpaces All Cryptos With 140% Surge

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In the fourth quarter of 2023, the cryptocurrency market experienced a notable resurgence, accompanied by the anticipation of a potential Bitcoin ETF approval. Among the standout performers during this period was Fantom (FTM), a Layer-1 protocol launched in 2018.  According to a recent report by Messari, Fantom witnessed significant growth, with its circulating market cap soaring by 140% quarter-over-quarter, from $0.5 billion to $1.3 billion. This performance surpassed all cryptocurrencies’ overall market cap growth at 54% in Q4. Additionally, Fantom climbed up the market cap rankings, ascending five spots from…

Banking professionals shift to crypto sector amid growing blockchain adoption

The latest study by Bitget found that one-third of cryptocurrency job seekers previously held positions in the traditional banking and finance industries.  The study reveals that 33% of individuals applying for roles within the cryptocurrency exchange were formerly part of the banking sector. Applicants are primarily interested in positions such as KYC Manager, Compliance Associate, Senior Compliance Associate, and AML Analyst. The past few years have seen a considerable shift, with an influx of banking professionals transitioning to cryptocurrency. Specifically, there was a 113% increase in 2022 and a 143%…

UK Supreme Court Refuses Craig Wright Appeal Against Bitcoin Podcaster

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“We actually only just found out about it but it was at the end of end of last year, [the] Supreme Court refused permission for Craig Wright’s appeal,” said Rupert Cowper-Coles, a partner at law firm RPC who represents McCormack. “So they’re very pleased that judgment stands – [the] one pound nominal damages award, which Craig has tried to appeal twice unsuccessfully.” Original

Analyst Thinks Ethereum Will Explode To $15,000, Cites Favorable Technical Formation

A crypto analyst, Elja on X, predicts that Ethereum (ETH) will reach a staggering $15,000 by 2025 based on technical analysis. The analyst argues that the current bearish sentiment in the crypto market is “temporary.” Moreover, Elja notes that the second most valuable coin by market cap follows a similar fractal pattern that fueled its previous major price rally in 2021. ETH to $15,000 | Source: Elja on X Is Ethereum Ready To Rip Despite The Current Consolidation? Sharing a screen grab of the current ETH price action, Elja says most…