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LTC/USD Analysis: Patterns And Levels To Watch

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Litecoin is leading in today’s gains among top 10 cryptocurrencies. Litecoin outperformed Bitcoin, Bitcoin Cash and Ripple by weekly gains. There are no significant updates and news related to Litecoin, except listing on Paypal, hence the price action is mainly related to speculation by traders and general crypto market sentiment.

By the time of writing this article, LTC/USD is traded at $64.11 and has penetrated an important resistance of $64. The continuation of the uptrend is supported by two Moving averages, Simple moving average 100 and an Exponential Moving Average 55 on a 4-Hour chart.

There are also two chart patterns to watch, when the breakout from the $64 resistance is broken, the most obvious currently remains – Cup and Handle pattern.

Litecoin price on Overbit

Another pattern to watch is an Inverted Head and Shoulders.

Litecoin price on Overbit

If Litecoin actually fails to overtake the resistance, it will probably drop to the nearest support levels, which are located at $59.36 and $56.79.

Litecoin price on Overbit

For the short and mid-term, Litecoin will continue to climb inside this parallel channel. It’s worth to mention that Moving Averages 100 and 200 are both following the levels of the Pitchfork, which is a great support for LTCUSD. Despite RSI indicating that the pair is near oversold, MACD is above the signal line and signals the bullish trend.

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Kseniia Klichova
Author: Aziz Kenjaev

Senior Vice President at Overbit. Technical analyst, crypto-enthusiast, ex-VP at TradingView, medium and long-term trader, trades and analyses FX, Crypto and Commodities markets.



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Bitcoin Price Hovering Close to $20K While XRP Shocks Crypto Market with 2-Year High

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Bitcoin and XRP are not the only currencies whose price has shown such performance. Other altcoins like Ethereum (ETH), Chainlink (LINK) are on a steady rise as well.

This week, Bitcoin (BTC) and XRP (XRP) are under the spotlight of crypto enthusiasts as the price of both currencies has shocked the community. While Bitcoin is on the way to break the $20k level, XRP has managed to soar by nearly 80% to hit $0.79, which is the highest since May 10, 2018.

Bitcoin Price to Reach $19,000

On November 24, the Bitcoin price has surpassed $19,000 for the first time in almost three years. And obviously, the top crypto is striving towards another milestone of $20k. This month so far, Bitcoin is about 40% up. Year-to-date, it is 160% up. Wall Street analysts are very optimistic about BTC’s future and believe it is standing good chances to surpass its all-time high record of $19,657.30 set on December 17, 2017.

According to the Wall Street Journal, there has been high interest from both institutional and retail investors. Therefore, Bitcoin is experiencing a bull run now. In addition, the Wall Street Journal bets on Bitcoin’s further growth in 2021.

Mati Greenspan, portfolio manager and founder of Quantum Economics, said:

“The main difference between now and the 2017 rally is that back then the market was driven by retail speculation and now it’s being driven by corporations and billionaires.”

At the moment of writing, Bitcoin is trading at $19,148 per coin. BTC market cap has totaled $355.2 billion.

XRP Soars as Airdrop Frenzy Builds

XRP is another coin that has shocked the crypto community with rapid growth. In 48 hours, it has surged by about 80%. Its 7-day growth has totaled 119%. Earlier today, the XRP price reached a high of $0.79, the highest level since May 10, 2018. Currently, XRP is trading at $0.67. Its market cap is $30.3 billion.

As analysts have explained, XRP’s jump results from the smart contract platform Flare Network’s airdrop of “spark” tokens to XRP holders. In particular, 45 billion spark tokens, based on a snapshot of XRP addresses, will be distributed on December 12. The initiative is supported by Ripple’s investment arm RippleX (formerly Xpring).

Jehan Chu, a managing partner at Hong Kong blockchain investment firm Kenetic Capital, stated:

“The impending airdrop is supercharging the XRP bull market and whipping mindshare of one of the largest crypto communities into a frenzy. With the imminent launch of Flare, a smart contract utility fork of XRP, the pair will attempt to challenge Ethereum’s dominance in decentralized finance and decentralized applications.”

Notably, Bitcoin and XRP are not the only currencies whose price has shown such performance. Other altcoins like Ethereum (ETH), Chainlink (LINK) are on a steady rise as well. ETH climbed a new high since June 2018 to $600 in the early hours of trading today, while LINK surged 740% in its year-to-date record.

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Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.



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Japan’s SBI Group Launches Crypto Lending Service

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Customers would be able to earn 1% on their deposits for 84 days. Currently, deposits of as low as 0.1 BTC and as high as 5 BTC will be allowed.

Japanese financial giant SBI Group has announced that it has hit the ground running with crypto lending service starting today.

According to the company, this is being done through its subsidiary SBI VC Trade. The company has decided not to charge any fee for account management or annual membership. Also, there would not be any fee on crypto and Japanese Yen deposits. However, charges would apply for Yen withdrawals.

SBI Group has made tremendous progress in the last few months as its derivative arm SBI Liquidity Market bought an exchange called TaoTao. Also, a number of businesses have been facilitated through its subsidiary.

Details of the SBI Group New Crypto Lending Service

According to the report, the company will initially start with Bitcoin, then along the line add the likes of Ethereum and XRP. Also, the service will add optimal trading opportunities. Customers would have the opportunity to lend cryptos to the company for a stated interest depending on the duration period. Customers would be able to earn 1% on their deposits for 84 days. Currently, deposits of as low as 0.1 BTC and as high as 5 BTC will be allowed to take advantage of the fleeing customers of Cred, a crypto lending platform that has been said to have filed for bankruptcy.

In 2019, SBI Group benefitted a lot from its massive cryptocurrency investment side that saw the company surging by $19.2% on its securities and making a profit of $30 million.

Also, the SBI mining crypto which appears to be the cryptocurrency mining business of the company recorded significant growth. The SBI Ripple Asia has as well been said to be on the verge of covering 50% of the entire network after it is connected. The newly introduced crypto lending service is just one of the many introduced business arms of the company that has the potential to flourish.

The main challenge SBI Group is likely to face is reliability. Customers always face the risk of dealing with a company that may file for bankruptcy in the long run. In the case of Cred, some reports believe that the company mismanaged its funds.

SBI Group has decided to solve this challenge by referring their customers and potential customers to the reliability of the parent company. The announcement published on their website establishes that SBI Group owns all the customer lending destinations for the crypto lending services on the website. They stated that customers can work with them in confidence with their credibility as the reason.

Crypto lending services have over the past few years gained popularity as it appears to solve two main challenges. Firstly, holders can leverage their assets without the need to liquidate them. Secondly, holders can enjoy the surge in the crypto price and at the same time enjoy the interest in the assets.

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Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.



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Ripple on Hunt for CBDC Expert to Drive Collaboration with Central Banks

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Ripple does not want just anyone with blockchain experience to apply, due to the nature of the task the CBDC expert will lead, the first requirement listed includes more than 10 years of experience in enterprise technology sales or account management.

Ripple has posted an announcement for the role of Senior Director for Central Bank Engagements in its grand plan to advance its Central Bank Digital Currency (CBDC) drive. According to the job posting, the role is a multi-function one and will see the lucky expert lead Ripple’s CBDC strategy and interface with Central Banks around the world for possible collaborations.

“Ripple is looking for a proven leader to lead our strategy, partnerships and project work with central banks around the world with an initial focus on supporting their central bank digital currency (CBDC) initiatives on XRP Ledger,” the announcement reads adding that the Senior Director of Central Bank Engagements “will define and lead Ripple’s strategy with central banks, build relationships with and educate central bankers around the world, and secure and manage partnerships with central banks to build and deploy projects.”

The CBDC development agenda is gaining ground in some developed economies already. The debate on the need to issue a Central Bank-backed digital currency remains one of the emerging discourse today. While some countries such as China and Sweden are advancing paces with respect to their digital currencies, many nations are in their infancy when it comes to joining the trend. These appear to be the target of Ripple as the company looks to sell its interoperable payment network, the RippleNet.

The CBDC push is in its infancy as many countries are looking to compete with digital currencies including Bitcoin (BTC), Ethereum (ETH), as well as the proposed Facebook Inc (NASDAQ: FB) Libra coin.

Key Requirements Listed for Ripple CBDC Expert Role

Ripple does not want just anyone with blockchain experience to apply, due to the nature of the task the CBDC expert will lead, the first requirement listed includes more than 10 years of experience in enterprise technology sales or account management plus experience selling to large financial institutions or central banks, and global sales experience strongly preferred. Strong Rolodex of central bank executives and influencers will be a bonus.

Besides desiring a strategic thinker, who applies creativity to problem-solving, and handily takes a big idea from thought through to execution, Ripple wants an expert who would be able to maintain the full partner life cycle and understands how central bank systems and/or digital assets and distributed ledger technologies work.

The primary success step Ripple will make in its bid to win the hearts of Central Banks to work with the firm is dependent on the expert that it will join and lead its team. While the expert’s role will cut across different departments in Ripple, the firm wants the lucky candidate to be a spokesperson for the firm both internally and with the new clients, it is prospecting. Ripple is a non-discriminatory employer as stated in the application form and with its equal opportunity measures, any qualified expert can lead its proposed CBDC initiative.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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