XRP is Struggling to Break Key Resistance; Will This Stop It from Going Parabolic?

XRP has been incurring some incredibly strong price action throughout the past few days, allowing it to erase some of the underperformance it had been experiencing throughout the past several weeks. The cryptocurrency is now pushing up against a crucial resistance level that has yet to be broken above for an extended period of time. One analyst is noting that this level may continue acting as strong resistance in the days ahead, with another rejection here potentially doing significant damage to its near-term outlook. There is one striking fractal that…

Bitcoin Holding Strong At $11K, But 100 SMA Holds The Key To Start Fresh Rally

Bitcoin crashed more than $1,500 from the $12,115 high against the US Dollar. BTC is currently consolidating above $11,000 and it must surpass the 100 hourly SMA for a fresh rally. Bitcoin is holding a couple of important supports near the $11,000 and $10,850 levels. The price seems to be facing a strong resistance near the 100 hourly SMA and $11,450. There is a key contracting triangle forming with resistance near $11,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the 100…

Decentralized Energy is Key to a DeFi Future

Decentralized Energy (DeEn) leverage DApps and smart contracts on Ethereum to conduct transactions and trade energy assets. In a paper released July 31, Lition, a Berlin-based sustainable tech startup that has launched a blockchain-based marketplace allowing consumers to choose between multiple energy providers, DeEn has the same “structure, advantages, and logic” as DeFi, or Decentralized Finance. DeFi should include DeEn Similar to DeFi where trades of digital assets are peer to peer, DeEn allows consumers to know exactly where their energy is coming from, Lition said. It empowers consumers to…

Why Banks Are the Key to Crypto Adoption in the United States

While countries are recognizing cryptocurrencies as legitimate forms of currency, it seems that the future of crypto adoption has never been brighter. Cryptocurrency is about to become more accessible, thanks to a new mandate by the United States Office of the Comptroller of Currency (OCC). Now, National Banks and Federal Savings Associations “of all sizes” can provide cryptocurrency custody to customers. According to the letter, these spaces have had permission to store digital assets since 1998, and cryptocurrency will be an extension of that. Of course, this could mean more…

Fan Token Platform Socios Secures Key Regulatory License

Socios.com, a blockchain startup aiming to tokenize the sports industry, has secured a major regulatory license allowing it to issue its own payments and loyalty card. Issued by the Estonian Financial Intelligence Unit, or FIU, the new license has been granted to the new Estonia-based entity called Socios Entertainment OU. Announcing the news on July 30, Socios’ partner project Chiliz.net noted that the FIU is the responsible authority for licensing crypto-related firms in the country. Socios’ prepaid fiat-crypto card is “due in the very near future” The new license allows…

Blockchain Is Key to Future ‘Hyperconnected Economy,’ Say Researchers

According to a report by market research firm HFS Research, blockchain technology will play a decisive role in establishing the future “hyperconnected economy.” A report excerpt recently released by HFS for Big Four auditing EY suggests that “we are hurtling toward a hyperconnected economy, and blockchain will provide the way to make it happen.” Blockchain facilitates large-scale collaboration The report explains that entire ecosystems are being developed across the services offered by different organizations. The researchers claim that “no single organization owns the entire customer experience, and competitors and peers…

27 Key Execs at PlusToken Scam Are Reportedly Arrested

The story of PlusToken, one of the largest scams in the cryptocurrency industry, takes another twist as dozens of major suspects have been arrested. As many as 27 core PlusToken team members have been arrested by Chinese police, according to a July 30 report by local industry publication ChainNews. According to the report, the total amount of investor losses in the PlusToken scam is estimated at 40 billion Chinese yuan or $5.7 billion. The report also mentions that investigators have also arrested another 82 core members of the scheme. Dovey…

Can XRP Price Follow Bitcoin and Hit $0.30? Watch These Key Levels

Altcoins got crushed in their respective BTC pairs as Bitcoin (BTC) price decided to break out of the two-month-old range and reach as high as $11,400. However, some altcoins did relatively well and a few top-10 cryptocurrencies showed strength while the price of Bitcoin was climbing. These included EOS (EOS), Litecoin (LTC) as well as XRP (XRP), which also showed strength by reaching a price level of $0.23. Crypto market daily performance. Source: Coin360 XRP breaks through 100-day and 200-day moving averages The USDT pair of XRP is showing substantial…

This Key Metric Suggests Bitcoin‘s Rally is Just Getting Started

Bitcoin’s intense rally throughout the past couple of days has allowed it to fly past multiple crucial resistance levels. Bulls are now attempting to form the $11,000 price level into a strong base of support, but the selling pressure here appears to be ramping up. One positive technical development seen overnight was the potent reaction to the $10,500 level. This previously crucial macro resistance level has now been confirmed as a strong support level, as BTC dipped here overnight before seeing an instant influx of buying pressure that sent it…

A Key Metric Suggests Bitcoin Price Above $12k

Bloomberg’s mid-year report indicates that the price of Bitcoin (BTC) could soon rise above $12,000. Active addresses on the rise The report contends that both on-chain and off-chain indicators for Bitcoin point to the asset’s appreciation. One of the key metrics for Bloomberg is the number of active addresses. Bloomberg elaborated: “The 2019 Bitcoin end-of-day high was $12,734, based on Bloomberg pricing. Unless advancing addresses abruptly reverse, history suggests Bitcoin may gravitate toward that level.” Grayscale’s dynamics are positive Bloomberg suggests that the continuous growth of Grayscale’s Bitcoin Trust or…